Strategic choice of freight mode and investments in transport infrastructure within production networks

In the context of production linkages in which downstream producers require freight services provided by transport operators, I show that the strategic choice of using an alternative transport mode does not necessarily induce lower access charges, relative to the standard transport mode. Additionally, I show that the nature of infrastructure investment determines the share of final goods delivery by the alternative transport mode. An immediate implication is that interactions among infrastructure investments; building transportation capacity costs; and industry-specific characteristics should be carefully assessed when planning transport infrastructure investments to enhance competitiveness in export markets

An analysis of the dynamic multiplier in a two-region economy

Bibliography: leaves 24-26.In the literature on regional economics various models have been developed to study the causes of economic growth and income fluctuations within a region. One of the best known models is that of the export base. The validity and general applicability of this model was first emphasised by North (1955), though Tiebout (1956) subsequently refuted it by claiming that factors other than exports may have a strong effect on the growth of a region. These factors included private investment, government expenditure and productivity increases amongst local industries. The North-Tiebout debate focuses essentially on the difference between the long-run and the short-run sources of regional economic growth. The North-Tiebout debate was followed by two main approaches: one based on the Keynesian income-expenditure approach and the other on input-output analysis. This essay is concerned with the application of the Keynesian approach within the context of a two-region economy. Section 2 provides a review of the literature on the export base and Keynesian approaches. This is followed, in section 3, by a discussion of Hartman and Seckler's application of dynamic analysis to the regional economy. Section 4 then shows how the Keynesian model can be adapted and applied to a two- region dynamic framework. Finally, in section 5, the stability conditions of the Keynesian model are examined, while final conclusions are drawn in section 6

Social Support, Self-Esteem, and Levels of Stress, Depression, and Anxiety During the COVID-19 Pandemic

The COVID-19 pandemic resulted in unprecedented disruptions to daily routines and social connections, which negatively impacted the mental health and well-being of many. Unsurprisingly, the most utilized coping strategy during the pandemic involved social support. However, those low in self-esteem seem to question others’ positive regard and continued acceptance, and overall perceive others’ behavior more negatively than those with high self-esteem (Murray, Holmes, et al., 1998). The proposed correlational study will examine the effects of social support and self-esteem on stress, anxiety, and depression during the COVID-19 pandemic, as well as investigate whether one’s self-esteem affects the influence that social support has. Participants will complete an online survey containing measures of social support, self-esteem, depression, anxiety, and stress. Both social support and self-esteem are expected to be negatively associated with levels of stress, depression, and anxiety during the COVID-19 pandemic. In addition, for those high in self-esteem, more social support is expected to be associated with less depression, anxiety, and stress during the pandemic. By contrast, for those low in self-esteem, more social support is expected to be associated with more depression, anxiety, and stress. These findings could inform public health officials about the importance of providing additional support and resources to those with low self-esteem or low social support, who might be more at-risk in developing mental health problems in times of crisis

Emergence of Rating Agencies: Implications for Establishing a Regional Rating Agency in Asia

The present analysis sheds light on the setting up a regional rating agency in Asia in the wake of recent financial crisis. We investigate the policy facing a financial regulator while evaluating whether or not to admit new entrant into the credit rating market. In an incomplete contracting framework, we show that an impartial financial regulatory body (represented by a benevolent supranational organization) can facilitate credit ratings of high quality by allowing for the entry of new rating agencies on a non-single basis than it does for a mere single entry. This finding is caused by increased competition among the rating agencies, which induces higher quality of rating services even should rating agencies still exert below their maximum level of efforts.credit rating agencies; moral hazard; incomplete contracting

Cycle-resistant credit systems: learning from Hong Kong’s experience

Hong Kong’s home mortgage market has remained among the world’s most stable. Supervisory authorities point to the 70 percent loan-to-value policy.Mortgage loans ; Housing - Prices ; Hong Kong