Next Stop: Restructuring?: A Nonparametric Efficiency Analysis of German Public Transport Companies

In this paper, we present a nonparametric comparative efficiency analysis of 179 communal public transport bus companies in Germany (1990-2004). We apply both deterministic data envelopment analysis (DEA) and bootstrapping to test the robustness of our estimates and to test the hypothesis of global and individual constant returns to scale. We find that the average technical efficiency of German bus companies is relatively low. We observe that the industry appears to be characterized by increasing returns to scale for smaller companies. These results would imply increasing pressure on bus companies to restructure.Public transport, buses, efficiency analysis, nonparametric methods, DEA, bootstrapping

Poverty, politics, and preferences: Field experiments and survey data from Vietnam

We conducted field experiments to investigate how wealth, political history, occupation, and other demographic variables (from a comprehensive earlier household survey) are correlated with risk, time discounting and trust in Vietnam. Our experiments suggest risk and time preferences depend on the stage of economic development. In wealthier villages, people are less loss-averse and more patient. Our research also shows people who participate in ROSCAs (rotating credit associations) are more patient than non-participant, but those who participate in bidding ROSCAs are less patient and more risk averse than those who participate in fixed ROSCAs. Results from a trust game demonstrate both positive and negative effects of communism. Villagers in the South tend to invest more in low-income partners without expecting repayment. On the other hand, people in the north are more trustworthy but do not pass on more money to the poor. Our findings also suggest market activities, like starting a small trade business, are correlated with trust and trustworthiness. We also contribute to experimental methodology by using choices that separate different aspects of risk aversion and time preferences in behavioral economics specifications

Agriculture Income Assessment for the Purpose of Social Assistance: the Case of Ukraine

Ukraine belongs to the group of countries which are known for the widespread phenomenon of subsistence and semi-subsistence farming. Individual farmers are not obliged to produce financial reports and their incomes belong to the category of unobservable incomes. When checking the eligibility for social assistance the level of their incomes needs to be estimated. In a country, where poverty rate is quite high, the coverage of the poor with financial aid is relatively low and public finances under constant control, the importance of a fair and justified methodology for income imputation is particularly strong. In this situation, an outdated and unfair current system of agriculture income estimation in Ukraine calls for immediate changes. This paper presents recommendations for the Ukrainian government in the area of agriculture income imputation, where several methods of estimating farm income were proposed (including the one based on Household Budget Survey). The recommendations were preceded with the analysis of five countries' practices in this area: Kazakhstan, Kyrgyzstan, Moldova, Russia, and Poland. A review of different means testing methods, including direct means testing and proxy means testing, served as an introduction to the topic.subsistence and semi-subsistence farming, hard to verify income, farm household income, income (agro-income) imputation, means testing methods

Budget Institutions and Fiscal Performance in Latin America

In this paper detailed information on the budget institutions of Latin American countries is collected. These institutions are classified on a hierarchical/collegial scale, as a function of the existence of constraints on the deficit and voting rules.

Determinants of the Withdrawal of Foreign-invested Enterprises: Evidence from China

Based on the industry and commerce annual report data, the present study uses the continuous-time nonparametric, parametric, and semi-parametric estimation to investigate the determinants influencing the withdrawal behaviour of foreign-invested enterprises. Through the survival analysis of 3,858 foreign-invested enterprises located in China from 2013 to 2020, the study found that operation profit, enterprise size and enterprise age have significantly negative impacts on the probability of enterprise withdrawal. At the industry-level and region-level, the improvement of industry entry rate and regional business environment ranking can significantly increase the probability of enterprise survival. The rise of the regional GDP growth rate and wage rate can significantly increase the probability of enterprise withdrawal. The study also found that the influence of some variables on enterprise withdrawal varies with different withdrawal patterns. After applying multiple models for estimation, similar results were replicated, which reinforced the validity of the conclusions offered in the present study

Productivity Drivers in Japanese Seaports

This paper analyses efficiency drivers of a representative sample of Japanese seaports by means of the two-stage procedure proposed by Simar and Wilson (2007). In the first stage, the technical efficiency of seaports is estimated using several models of data envelopment analysis (DEA) that might be employed in order to establish which of them are most efficient. In the second stage, the Simar and Wilson (2007) procedure is used to bootstrap the DEA scores with a truncated bootstrapped regression to identify efficiency drivers. The policy implications of our findings are considered.Seaports; Japan; Data Envelopment Analysis; Truncated Bootstrapped Regression.

Explaining the lack of dynamics in the diffusion of small stationary fuel cells

Using the reaction of hydrogen with oxygen to water in order to produce electricity and heat, promises a high electrical efficiency even in small devices which can be installed close to the consumer. This approach seems to be an impressive idea to contribute to a viable future energy supply under the restrictions of climate change policy. Major reasons currently hampering the diffusion of such technologies for house energy supply in Germany are analysed in this paper. The barriers revealed, include high production costs as well as economic and legal obstacles for installing the devices so that they can be operated in competition to central power plants, beside others in tenancies.fuel cell, diffusion processes, valuation of environmental effects, technological innovation

ADB–OECD Study on Enhancing Financial Accessibility for SMEs: Lessons from Recent Crises

During the era of global financial uncertainty, stable access to appropriate funding sources has been much harder for small and medium-sized enterprises (SMEs). The global financial crisis impacted SMEs and entrepreneurs disproportionately, exacerbating their traditional financing constraints. The financial conditions of many SMEs were weakened by the drop in demand for goods and services and the credit tightening. The sovereign debt crisis that hit several European countries contributed to further deterioration in bank lending activities, which negatively affected private sector development. The global regulatory response to financial crises, such as the Basel Capital Accord, while designed to reduce systemic risks may also constrain bank lending to SMEs. In particular, Basel III requires banks to have tighter risk management as well as greater capital and liquidity. Resulting asset preference and deleveraging of banks, particularly European banks with significant presence in Asia, could limit the availability of funding for SMEs in Asia and the Pacific. Lessons from the recent financial crises have motivated many countries to consider SME access to finance beyond conventional bank credit and to diversify their national financial system. Improving SME access to finance is a policy priority at the country and global level. Poor access to finance is a critical inhibiting factor to the survival and growth potential of SMEs. Financial inclusion is thus key to the development of the SME sector, which is a driver of job creation and social cohesion and takes a pivotal role in scaling up national economies. The Asian Development Bank (ADB) and the Organisation for Economic Co-operation and Development (OECD) have recognized that it is crucial to develop a comprehensive range of policy options on SME finance, including innovative financing models. With this in mind, sharing Asian and OECD experiences on SME financing would result in insightful discussions on improving SME access to finance at a time of global financial uncertainty. Based on intensive discussions in two workshops organized by ADB in Manila on 6–7 March 2013 and by OECD in Paris on 21 October 2013, the two organizations together compiled this study report on enhancing financial accessibility for SMEs, especially focusing on lessons from the past and recent crises in Asia and OECD countries. The report takes a comparative look at ADB and OECD experiences, and aims to identify promising policy solutions for creating an SME base that is resilient to crisis, from a viewpoint of access to finance, and which can help drive growth and development