Testing differences in long run growth among Spanish regions: Can growth models explain it?

During the last decade we have assisted to a renewal interest in growth. There were a great number of theoretical and empirical works since the question was reopen by the Romer (1986) article about long run properties of growth models. Growth models can be classified in two kinds: exogenous growth models and endogenous growth models. The main differences between them are that the endogenous models try to incorporate into the behavior of the agents the assumptions that the first assumes as exogenous. This difference, that sounds only methodological, has important implications. The conclusion of the exogenous models is that, in presence of free factor mobility and free diffusion of technology, countries and regions will converge to the same rate of growth, and, in absence of technical progress, they will converge to the same level of per capita income, without any influence of initial conditions or political intervention in the economy (This result is obtained by Barro(1991) and Barro y Sala(1992)). With endogenous models the economies will growth at a rate determined by the behavior of the agents in the economy and could be the same or different among different economies. The theoretical result of these models is that in the long run could exist convergence or divergence. The main focus of this paper is, using the data for Spanish Regions from 1955 to 1991 and applying unit root time series methodology, to determine long run growth rates for each region with the aim of knowing if we can choose between the two kind of growth models.

Imperfecta movilidad del capital y variabilidad de la producción en la determinación del tipo de cambio. Una aplicación empírica para España

En este trabajo se ha planteado y estimado un modelo de determinación del tipo de cambio al estilo de Dornbusch, en la versión de Papell aplicada al caso de un país pequeño. El modelo se soluciona mediante el método de los coeficientes indeterminados y se estima por máxima verosimilitud, donde los parámetros de la forma reducida están restringidos por los parámetros estructurales del modelo. Las restricciones impuestas por el modelo se aceptan mediante el uso del test de la razón de verosimilitud. Los resultados obtenidos demuestran que la imperfecta movilidad del capital junto con la variabilidad de la producción dan como resultado "sobrerreacción" para el caso del dólar e "infrarreacción" para el caso del ECU

The Effects of the Economic Adjustment Programmes for Greece: A Quasi-Experimental Approach

Three Economic Adjustment Programmes (EAPs) were implemented in Greece, between2010 and 2015, without achieving the proposed economic objectives. This article analyses the impactof the EAPs in Greece using the synthetic control method (SCM) and has three main contributions.First, it identifies a long-term negative impact worth 35.3 per cent of the Greek GDP per capita causedby the application of the EAPs. Second, it finds that three-quarters of the estimated negative andunsustainable impact accumulated over the 2010?2012 period. Third, it identifies a regressive effectof the EAPs on income distribution, the Greek population with lower incomes experienced a greaternegative effect caused by the adjustment programmes. These results underscore the need to reviewand correct the conditional financial assistance framework currently in force in the European Unio

Explaining Telecoms and Electricity Internationalization in the European Union: A Political Economy Perspective

One consequence of the liberalization of certain services in the European Union was that a number of formerly inward-looking incumbents in telecommunications and electricity rapidly transformed themselves into some of the world’s leading Multinationals. However, the precise relationship between liberalization and incumbent internationalization is contested. This article tests three persuasive arguments derived from the political economy literature on this relationship. The first claims that those incumbents most exposed to domestic liberalization would internationalise most. The second asserts the opposite: incumbents operating where liberalization was restricted could exploit monopolistic rents to finance their aggressive internationalisation. The third argument claims that a diversity of paths will be adopted by countries and incumbents vis-à-vis liberalization and internationalization. Using correlation and cluster analysis of the sample of all major EU telecoms and electricity incumbent Multinationals evidence is found in favour of the third hypothesis. Internationalization as a response to liberalization took diverse forms in terms of timing and extent and this is best explained using a country, sector and firm logic.Electricity, European Union, Internationalization, Liberalization, Telecommunications, Political Economy, Multinational Corporations, National Champions

Is Market-Oriented Reform Producing a “Two-Track” Europe? Evidence from Electricity and Telecommunications

The European Commission has formally recognised that adequate provision of basic household services, including energy, communications, water and transport, is key to ensuring equity, social cohesion and solidarity. Yet little research has been done on the impact of the reform of these services in this regard. This article offers an innovative way to explore such questions by analysing and contrasting stated and revealed preferences on citizen satisfaction with and expenditure on two services, electricity and telecommunications, in two large countries, Spain and the United Kingdom. In telecommunications, but to a much lesser extent in electricity, we find evidence that reform has led to a “two-track” Europe, where citizens who are elderly, not working or the less-educated behave differently in the market, with the result that they are less satisfied with these services than their younger, working, better-educated, counterparts

Bringing Citizens Back In: Renewing Public Service Regulation

This essay concerns the ways in which public services – particularly household services such as communications, energy, water and transportation – have been regulated and deregulated, and analyses what consequences this has for users and citizens. Much of the deregulation of public services from the 1980s – liberalization, privatization and New Public Management – was justified by claims that reform would provide users with more choice, whilst they would receive cheaper and better quality services. Little account was taken of the fact that users are highly heterogeneous, that socio-economic differences might be important in determining their consumption of public services, and that this may not lead to socially optimum outcomes. By examining consumption patterns in two large European countries, Spain and the UK, through an analysis of revealed and declared preferences, this paper sheds light on how socio-economic differences among households help determine public service consumption. The main findings are that the supposed benefits of public service deregulation are not evenly spread across populations, and that specifically targeted “bottom-up” regulation from the demand-side could usefully address these issues, thus improving social welfare.Regulation, Privatization, Public Services, Telecommunications, Electricity, Gas and water

Is Market-Oriented Reform Producing a “Two-Track” Europe? Evidence from Electricity and Telecommunications

The European Commission has formally recognised that adequate provision of basic household services, including energy, communications, water and transport, is key to ensuring equity, social cohesion and solidarity. Yet little research has been done on the impact of the reform of these services in this regard. This article offers an innovative way to explore such questions by analysing and contrasting stated and revealed preferences on citizen satisfaction with and expenditure on two services, electricity and telecommunications, in two large countries, Spain and the United Kingdom. In telecommunications, but to a much lesser extent in electricity, we find evidence that reform has led to a “two-track” Europe, where citizens who are elderly, not working or the less-educated behave differently in the market, with the result that they are less satisfied with these services than their younger, working, better-educated, counterparts.Public Service, Electricity, Telecommunications, Revealed preferences, Consumer Behaviour, Vulnerable Consumers. European Union. Regulation

Propuesta metodológica para una relectura crítica del sistema de financiación del desarrollo (1944-2007)

Con la presentación de este trabajo queremos rendir homenaje al Profesor Dr. Rafael Martínez-Cortiña. En los últimos 25 años, Rafael se centró en el análisis exhaustivo del sistema financiero. Esta línea de investigación le llevó a implicarse personalmente en el impulso de los estudios de cooperación internacional al desarrollo en general y de los micro-créditos, en particular. En este recuerdo a su memoria y a su ejemplo, realizamos una propuesta metodológica que, pensamos, permitiría realizar una relectura e interpretación crítica de la filosofía con la que se diseñó la estructura del sistema de financiación al desarrollo, que creemos es más coherente con el aparente fracaso de las políticas al desarrollo que las interpretaciones ortodoxas, basadas en las explosiones demográficas, la escasez de capital o/y en las corruptelas de los gobernantes. Nuestra tesis es que el sistema de financiación se diseñó en función de los intereses geoestratégicos y económicos de los países donantes y no de las personas empobrecidas de los países receptores. Pensamos que una metodología económica holísitica y estructural es más adecuada que la ortodoxa para iluminar el problema de fracaso de las políticas de superación del subdesarrollo. ____________________________________________With the submission of this work we pay tribute to Professor Dr. Rafael Martínez-Cortiña. In the last 20 years Rafael focused on the analysis of the financial system. This line of research led him to become personally involved in the pulse of international cooperation in development in general and the micro-credits in particular research papers. In this remembering to his memory, we propose a reading and interpretation criticism of the philosophy with which was designed the structure of the financing system to development, which we think is more consistent with the apparent failure of policies to development that orthodox interpretations, based on the population explosions or in the petty corruption of rulers. Our thesis is that the financing system was designed to benefit geostrategic and economic interests of the donor countries and not of the impoverished people of the recipient countries

The new regulation of public infrastructure services in the European Union. Challenges for territorial cohesion

Public infrastructure services (or Services of General Economic Interest, SGEI) in the European Union have undergone significant reform in the recent period, including privatization, liberalization and deregulation. These reforms, however, have led to concerns about the potential impact of pursuing economic profitability over service quality, affordability, accessibility and universality. Traditionally, because SGEI have been understood as playing a key economic, social and strategic role, they have been subject to specific rules in the general interest: so-called Public Service Obligations (PSO). A key objective of PSO is to ensure equal access to services, independent of the place of residence, income or other factors. PSO are, therefore, a key instrument as regards ensuring equity and territorial cohesion. As such, it constitutes a fundamental concern in European regional policy. Traditionally, the regulation of SGEI has focused on the supply side, as it has been assumed competition in an integrated European market would benefit citizens. Despite this, little research has actually been done on evaluating regulation from the demand side, not to speak of applying a regional focus. The aim of this paper is to evaluate SGEI provision and regulation in the EU from the perspective of citizens as consumers using a regional perspective. We focus on the region (NUTS1) and the urban/rural character of the place of residence as possible determinants of disparities. To do so, a microeconometric analysis of citizens’ revealed and stated preferences is performed, focusing on three large European countries (Italy, Spain and the United Kingdom) for four services: electricity, gas, water and telecommunications. First, disparities in spending on the services are analyzed, using National Household Budget Surveys. Next, differences in dissatisfaction with service access and price are analyzed, using the Eurobarometer. Finally, we analyze whether lower consumption of a particular service in a particular region or rural area is related to problems of accessibility, affordability or to other factors. Findings show different regional patterns of services use. Moreover, serious and widespread problems are observed regarding equal access to services such as gas and telecommunications in rural areas, of some concern for the question of territorial cohesion.

CLASE: software para estimar modelos de escalamiento clásico

Este artículo presenta el programa CLASE, que permite estimar los modelos de escalamiento clásico para la tarea de comparaciones binarias (Dunn-Rankin y Thurstone), clasificación de objetos (intervalos aparentemente iguales e intervalos sucesivos) y la teoría de detección de señales. El programa está pensado como una herramienta didáctica para ser utilizado en el aula o de forma individual por los estudiantes. Por tanto, proporciona los resultados de estas técnicas según se describen en referencias clásicas, sin incorporar los últimos desarrollos de las mismas.This article presents the software CLASE, which estimates the classical scaling models for the task of paired comparisons (Dunn-Rankin and Thurstone), rating of objects (equal appearing and successive intervals) and the signal detection theory. The program is conceived as a didactic tool to be applied in classroom or by individual students, and for conducting small-scale research. Thus, it provides the results of the techniques as can be found in classical textbooks instead of incorporating the latest developments of these techniques.Esta investigación ha sido subvencionada por el proyecto de la DGICYT: PB 97-004