scholarly journals Short-Run Health Consequences of Retirement and Pension Benefits: Evidence from China

2018 ◽  
Vol 21 (2) ◽  
Author(s):  
Plamen Nikolov ◽  
Alan Adelman
Keyword(s):  
Health Behaviors ◽  
Self Care ◽  
Spillover Effects ◽  
Pension Scheme ◽  
Sleep Habits ◽  
Morbidity Burden ◽  
Pension Program ◽  
Short Run ◽  
Pension Benefits ◽  
The Impact

AbstractThis paper examines the impact of the New Rural Pension Scheme (NRPS) in China. Exploiting the staggered implementation of an NRPS policy expansion that began in 2009, we use a difference-in-difference approach to study the effects of the introduction of pension benefits on the health status, health behaviors, and healthcare utilization of rural Chinese adults age 60 and above. The results point to three main conclusions. First, in addition to improvements in self-reported health, older adults with access to the pension program experienced significant improvements in several important measures of health, including mobility, self-care, usual activities, and vision. Second, regarding the functional domains of mobility and self-care, we found that the females in the study group led in improvements over their male counterparts. Third, in our search for the mechanisms that drive positive retirement program results, we find evidence that changes in individual health behaviors, such as a reduction in drinking and smoking, and improved sleep habits, play an important role. Our findings point to the potential benefits of retirement programs resulting from social spillover effects. In addition, these programs may lessen the morbidity burden among the retired population.

scholarly journals Dynamic and spillover effects of USA import refusals on China’s agricultural trade: Evidence from monthly data

2019 ◽  
Vol 65 (No. 9) ◽  
pp. 425-434
Author(s):  
Jiehong Zhou ◽  
Yu Wang ◽  
Rui Mao
Keyword(s):  
Spillover Effects ◽  
Agricultural Trade ◽  
Agricultural Export ◽  
Common Component ◽  
Trade Effect ◽  
United States Food ◽  
Short Run ◽  
States Food ◽  
Developed Nations ◽  
The Impact

Border inspections by developed nations are an essential export barrier to developing countries. Import refusals, in particular, not only exhibit dynamic impacts on exporters’ performance in the refused destination but may also spill over into exports toward third markets. Using a panel structural vector autoregression model, the complete dynamics of China’s agricultural export in response to United States Food and Drug Administration (FDA) import refusals is estimated at the monthly level. Despite notable heterogeneities across sectors, negative and positive reactions that last mostly less than a year are revealed respectively for the quantity and price of China’s exports to USA on average. The impact of idiosyncratic component dominates that of common component in the refusal shock, highlighting the sensitivity of exports to sector-specific border inspections. Relative to other refusal charges, larger export contractions tend to follow adulteration charges. The trade effect of FDA refusals spills over into other main export destinations of China. While non-adulteration charges result in trade deflections on average, a contagious export reduction is observed in most non-US markets. These results provide insights for exporters to make strategies with a focus on specific sectors, charges, third markets and especially on the short run to cope with import refusals.

The new rural social pension program in rural China: participation and its correlates

2016 ◽  
Vol 8 (4) ◽  
pp. 647-661 ◽  
Author(s):  
Qiran Zhao ◽  
Stephan Brosig ◽  
Renfu Luo ◽  
Linxiu Zhang ◽  
Ai Yue ◽  
...  
Keyword(s):  
Labor Supply ◽  
Rural China ◽  
The Elderly ◽  
Rural Elderly ◽  
Pension Scheme ◽  
Data Set ◽  
Content Type ◽  
Pension Program ◽  
Social Pension ◽  
The Impact

Purpose The need for a universal rural pension system has been heightened by demographic changes in rural China, including the rapid aging of the nation’s rural population and a dramatic decline in fertility. In response to these changes, China’s Government introduced the New Rural Social Pension Program (NRSPP) in 2009, a voluntary and highly subsidized pension scheme. The purpose of this paper is to assess the participation of rural farmers in the NRSPP. Furthermore, the authors examine whether the NRSPP affects the labor supply of the elderly population in China. Design/methodology/approach This paper uses household-level data from a sample of 2,020 households originating from a survey conducted by the authors in five provinces, 25 counties, and 101 villages in rural China. Using a probit model and conducting correlation analysis, the authors demonstrate the factors affecting the participation and the impact of NRSPP on labor supply of the rural elderly. Findings The results show there are several factors that are correlated with participation, such as specific policy variant in force in the respective household's province, the size of the pension payout from government, the age of sample individuals, and the value of household durable assets. Specifically, different characteristics of NRSPP policy implementation increase participation in China’s social pension program. The results suggest that the introduction of the NRSPP has not affected the labor supply of the rural elderly, in general, although it has reduced participation for the elderly who were in poor health. Originality/value Several previous studies have covered the NRSPP. However, all previous studies were based on case studies or just focused on a small region, and for this reason the results cannot reflect the populations and heterogeneity of rural areas. Therefore, a data set with a large sample size is used in this paper to provide a new perspective to fully understand the participation of NRSPP and its impacts on rural households. This paper will make an update contribution to the literature in the area of pension programs in China.

In the Hindutva Laboratory: Pogroms and Politics in Gujarat, 2002

2008 ◽  
Vol 44 (2) ◽  
pp. 349-399 ◽  
Author(s):  
HOWARD SPODEK
Keyword(s):  
Rule Of Law ◽  
Cultural Change ◽  
Spillover Effects ◽  
The State ◽  
The Rule Of Law ◽  
Communal Violence ◽  
Educational Restructuring ◽  
Short Run ◽  
The Impact ◽  
The City

AbstractCommunal violence wracked the state of Gujarat and the city of Ahmedabad once again in 2002, leaving some 2,000 people dead. Because the ruling BJP party had proclaimed Gujarat the ‘Laboratory of Hindutva’, analysts throughout India saw the violence as BJP policy and debated its possible spillover effects elsewhere. This paper finds that in a period already marked by stressful economic and cultural change and attended by political uncertainty, some BJP leaders gambled that an attack on Gujarat's Muslims, and on the rule of law in general, would attract followers and voters. Their gamble proved correct at least in the short run. This paper examines the cultural, social, geographical and educational restructuring that is occurring, through legal and illegal struggles, and the impact of the violence upon these processes. It examines the declining status of Muslims as a result of continuous propaganda against them. It analyzes the degree to which the state was damaged as a result of the decision for violence and asks about the degree to which leaders do, or do not, wish to ‘put it behind them’, and suggests that Ahmedabad's problems are widely shared in both the developing and developed worlds.

scholarly journals Assessing the impact of macroeconomic variables on pension benefits in Ghana: A case of Social Security and National Insurance Trust

2017 ◽  
Vol 20 (1) ◽  
Author(s):  
Grace Ofori-Abebrese ◽  
Robert Becker Pickson ◽  
Sherifatu Abubakari
Keyword(s):  
Monetary Policy ◽  
Pension Reform ◽  
Economic Indicators ◽  
Standard Of Living ◽  
Domestic Currency ◽  
Policy Makers ◽  
Long Run ◽  
Short Run ◽  
Pension Benefits ◽  
The Impact

Background: One of the most pressing phases for all economic agents is post-retirement standard of living. Irrespective of the higher returns on pension contribution and varied pension reforms, there are possible factors that can render these pension benefits inadequate, which can affect the longevity of retirees. Studies conducted in other countries have concluded that inflation deteriorates the value of pension benefits. Aim: This study, thus, sought to assess the impact of some major economic indicators in the Ghanaian environment on pension benefits.Setting: This study was carried out in Ghana by obtaining quarterly data frequencies on pension benefits and economic indicators spanning the period 2000Q1 to 2014Q4.Method: The Auto-regressive Distributed Lag Model was utilised to examine the long run and short run dynamics of some major economic indicators and pension benefits.Results: The empirical evidence indicated that inflation deteriorates total pension benefits. Increasing monetary policy rate and depreciation of the domestic currency should be an issue to contend with only in the short run rather than in the long run. The study also found the prominence of the implementation of the National Pension Reform in 2008.Conclusion: The study concluded that if policy makers target the reduction in the monetary policy rate and the appreciation of the domestic currency in an effort to stabilise the value of total pension benefits in the long run, it would not be effective in the long run because of their insignificant nature. Policy makers should rather target inflation as the prime tool for stabilising the standard of living of retirees in the long run.

Impact of exchange rate and oil price on the yield of sovereign bond and sukuk: Evidence from Malaysian capital market

2017 ◽  
Vol 5 (4) ◽  
pp. 27
Author(s):  
Huda Arshad ◽  
Ruhaini Muda ◽  
Ismah Osman
Keyword(s):  
Exchange Rate ◽  
Capital Market ◽  
Time Series Data ◽  
Oil Prices ◽  
Oil Price ◽  
Series Data ◽  
Sovereign Bond ◽  
Long Run ◽  
Short Run ◽  
The Impact

This study analyses the impact of exchange rate and oil prices on the yield of sovereign bond and sukuk for Malaysian capital market. This study aims to ascertain the effect of weakening Malaysian Ringgit and declining of crude oil price on the fixed income investors in the emerging capital market. This study utilises daily time series data of Malaysian exchange rate, oil price and the yield of Malaysian sovereign bond and sukuk from year 2006 until 2015. The findings show that the weakening of exchange rate and oil prices contribute different impacts in the short and long run. In the short run, the exchange rate and oil prices does not have a direct relation with the yield of sovereign bond and sukuk. However, in the long run, the result reveals that there is a significant relationship between exchange rate and oil prices on the yield of sovereign bond and sukuk. It is evident that only a unidirectional causality relation is present between exchange rate and oil price towards selected yield of Malaysian sovereign bond and sukuk. This study provides numerical and empirical insights on issues relating to capital market that supports public authorities and private institutions on their decision and policymaking process.

Determinants of Inflation in Vietnam: A VECM Approach

2015 ◽  
Vol 22 (04) ◽  
pp. 26-50
Author(s):  
Ngoc Tran Thi Bich ◽  
Huong Pham Hoang Cam
Keyword(s):  
Interest Rate ◽  
Crude Oil ◽  
Error Correction ◽  
Budget Deficit ◽  
Oil Prices ◽  
Crude Oil Prices ◽  
Domestic Credit ◽  
Short Run ◽  
The Impact

This paper aims to examine the main determinants of inflation in Vietnam during the period from 2002Q1 to 2013Q2. The cointegration theory and the Vector Error Correction Model (VECM) approach are used to examine the impact of domestic credit, interest rate, budget deficit, and crude oil prices on inflation in both long and short terms. The results show that while there are long-term relations among inflation and the others, such factors as oil prices, domestic credit, and interest rate, in the short run, have no impact on fluctuations of inflation. Particularly, the budget deficit itself actually has a short-run impact, but its level is fundamentally weak. The cause of the current inflation is mainly due to public's expectations of the inflation in the last period. Although the error correction, from the long-run relationship, has affected inflation in the short run, the coefficient is small and insignificant. In other words, it means that the speed of the adjustment is very low or near zero. This also implies that once the relationship among inflation, domestic credit, interest rate, budget deficit, and crude oil prices deviate from the long-term trend, it will take the economy a lot of time to return to the equilibrium state.

Transport infrastructure of the Rostov Oblast: Problems and prospects for development in the context of national projects implementation

2020 ◽  
Vol 19 (6) ◽  
pp. 1015-1034
Author(s):  
O.Yu. Patrakeeva
Keyword(s):  
Time Series Data ◽  
Mutual Influence ◽  
Rostov Oblast ◽  
Transport Infrastructure ◽  
Series Data ◽  
Cointegration Tests ◽  
Level Of Economic Development ◽  
Short Run ◽  
The Government ◽  
The Impact

Subject. The paper considers national projects in the field of transport infrastructure, i.e. Safe and High-quality Roads and Comprehensive Plan for Modernization and Expansion of Trunk Infrastructure, and the specifics of their implementation in the Rostov Oblast. Objectives. The aim is to conduct a statistical assessment of the impact of transport infrastructure on the region’s economic performance and define prospects for and risks of the implementation of national infrastructure projects in conditions of a shrinking economy. Methods. I use available statistics and apply methods and approaches with time-series data, namely stationarity and cointegration tests, vector autoregression models. Results. The level of economic development has an impact on transport infrastructure in the short run. However, the mutual influence has not been statistically confirmed. The paper revealed that investments in the sphere of transport reduce risk of accidents on the roads of the Rostov Oblast. Improving the quality of roads with high traffic flow by reducing investments in the maintenance of subsidiary roads enables to decrease accident rate on the whole. Conclusions. In conditions of economy shrinking caused by the complex epidemiological situation and measures aimed at minimizing the spread of coronavirus, it is crucial to create a solid foundation for further economic recovery. At the government level, it is decided to continue implementing national projects as significant tools for recovery growth.

The Technology and Knowledge Spıllover Effects of FDI on Labour Productıvıty—Evıdence from Medıum-Hıgh Industry in Malaysıa

2020 ◽  
Vol 11 (1) ◽  
pp. 110-110
Author(s):  
Norhanishah Mohamad Yunus ◽  
Noraida Abdul Wahob
Keyword(s):  
Developing Country ◽  
Multinational Corporations ◽  
Knowledge Spillovers ◽  
Labour Productivity ◽  
Spillover Effects ◽  
International Technology Transfer ◽  
Technology Acquisition ◽  
Productivity Function ◽  
Short Run ◽  
The Cost

A plethora of studies have revealed the importance of new knowledge transfer from foreign multinational corporations (MNCs) in encouraging higher labour productivity and sustainable competitive advantages. However, less attention is given to low labour productivity issue despite the presence of FDI, especially in the developing country context. Most of the studies only heavily emphasised on 'technology' effects rather than 'knowledge' effects on the host country as a result of the presence of foreign technology. As Malaysia is one of the major FDI recipients in Southeast Asia, the specific spillover effects of each FDI investor country in Malaysia, need to be studied. With an abundance of MNCs, international technology transfer is considered as an imported mode for technology acquisition in a developing country like Malaysia. However, the benefits of FDI spillovers on labour productivity function in Malaysia remain ambiguous, even when classified according to specific investor countries. Globalisation and liberalisation have seen trade and investment activities booming, thus increasing multilateral relations between Malaysia and other countries regardless of their level of development. Thus, this study may help the Malaysian government to justify the cost that should be invested to attract more FDI inflows towards the manufacturing industries in the short run. Keywords: spillover effects, Foreign Direct Investment, labour productivity, technology spillovers, knowledge spillovers

An Econometric Analysis on the Relationship between Globalisation and Inequality in South Africa

2020 ◽  
Vol 11 (1) ◽  
pp. 89-89
Author(s):  
Jacques de Jongh
Keyword(s):  
South Africa ◽  
Well Being ◽  
Causality Analysis ◽  
Global Integration ◽  
Development Indicators ◽  
Long Run ◽  
The World ◽  
Distribution Of Resources ◽  
Short Run ◽  
The Impact

Globalisation has had an unprecedented impact on the development and well-being of societies across the globe. Whilst the process has been lauded for bringing about greater trade specialisation and factor mobility many have also come to raise concerns on its impact in the distribution of resources. For South Africa in particular this has been somewhat of a contentious issue given the country's controversial past and idiosyncratic socio-economic structure. Since 1994 though, considerable progress towards its global integration has been made, however this has largely coincided with the establishment of, arguably, the highest levels of income inequality the world has ever seen. This all has raised several questions as to whether a more financially open and technologically integrated economy has induced greater within-country inequality (WCI). This study therefore has the objective to analyse the impact of the various dimensions of globalisation (economic, social and political) on inequality in South Africa. Secondary annual time series from 1990 to 2018 were used sourced from the World Bank Development indicators database, KOF Swiss Economic Institute and the World Inequality database. By using different measures of inequality (Palma ratios and distribution figures), the study employed two ARDL models to test the long-run relationships with the purpose to ensure the robustness of the results. Likewise, two error correction models (ECM) were used to analyse the short-run dynamics between the variables. As a means of identifying the casual effects between the variables, a Toda-Yamamoto granger causality analysis was utilised. Keywords: ARDL, Inequality, Economic Globalisation; Social Globalisation; South Africa

The Impact of Monetary and Fiscal Policies on the Stock Market in the United States (U.S); Evidence from Linear ARDL Framework

2020 ◽  
Vol 11 (1) ◽  
pp. 132-132
Author(s):  
Aref Emamian
Keyword(s):  
United States ◽  
Stock Market ◽  
The United States ◽  
Real Effective Exchange Rate ◽  
Annual Data ◽  
Fiscal Policies ◽  
Long Run ◽  
The Us ◽  
Short Run ◽  
The Impact

This study examines the impact of monetary and fiscal policies on the stock market in the United States (US), were used. By employing the method of Autoregressive Distributed Lags (ARDL) developed by Pesaran et al. (2001). Annual data from the Federal Reserve, World Bank, and International Monetary Fund, from 1986 to 2017 pertaining to the American economy, the results show that both policies play a significant role in the stock market. We find a significant positive effect of real Gross Domestic Product and the interest rate on the US stock market in the long run and significant negative relationship effect of Consumer Price Index (CPI) and broad money on the US stock market both in the short run and long run. On the other hand, this study only could support the significant positive impact of tax revenue and significant negative impact of real effective exchange rate on the US stock market in the short run while in the long run are insignificant. Keywords: ARDL, monetary policy, fiscal policy, stock market, United States

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