The Impact of Controlson Capital Movementson the Private Capital Accounts of Countries' Balance of Payments: Empirical Estimates and Policy Implications

1994 ◽  
Vol 94 (78) ◽  
pp. 1 ◽  
Author(s):  
R. B. Johnston ◽  
Chris Ryan ◽  
◽  
Author(s):  
Hyder Lakhani ◽  
Bruce D. Phillips

Hyder Lakhani and Bruce D. Phillips are respectively vice-president, EEE Research, Fairfax, Virginia, USA, and senior economist, Office of Advocacy, United States Small Business Administration, Washington DC. This paper is based on research contract No. SBA-7177-AER-83 to EEE Research from the Office of Advocacy of the SBA. The authors are grateful to Thomas Gray and Raymond Marchikitus of the SBA for their valuable comments. The views and errors are those of the authors and not of the SBA. The objective of this paper is to analyse the economic impact of fuel costs and non-fuel costs on profits and sales of small business firms in ten Standard Metropolitan Statistical Areas in the US. The review of the literature (in Section 1) concludes that existing studies use industry aggregates from Census of Manufacturing data which exclude 80 percent of small firms so that the impact on small firms cannot be determined. Also, the studies fail to analyse the impact of fuel costs on profits and sales and arrive at contradictory conclusions. The authors develop an econometric model of the impact of energy costs on profits and sales in Section 2. The data on small business firms are developed from a survey report completed for the SBA (Section 3). Empirical estimates reveal that a one percentage point increase in fuel costs tends to reduce profits in the range of 0.009 to 0.07 percent and sales in the range of 0.01 to 0.06 percent. Increases in payroll and operating costs are correlated with increases in profits and sales because of labour- intensiveness of the small firms in the sample (Section 4). Policy implications of this paper are that small firms have not fully adjusted to the 1979 increase in fuel prices, or cannot adjust any further. Further, small firms must increasingly substitute non- fuel for fuel inputs or if that is not possible, then purchases of the least energy- intensive plant and equipment should be made, including energy conservation devices.


1978 ◽  
Vol 17 (2) ◽  
pp. 264-265
Author(s):  
Moin-ud-din Moin-ud-din

A number of books on Pakistan's economy have recently been published, but most of them do hot provide the latest statistical data or keep pace with events and development during the 1970's. The book under review, however, has admirably fulfilled the requirements. It covers a vast range of subjects concerning economic development in the country during the recent past The book is divided into nine parts and covers such diverse areas as development, industry, the price situation and the impact of inflation, Pakistan's planning and development effort, trade priorities and balance of payments situation, .taxation* foreign aid, and socio-economic reforms. The analysis is general, broadbased, and historical in perspective and a large amount of data have been put together. To bring out a clearer picture international comparisons are made whereever possible, especially in the last part of the book where the author reiterates on the need for a "New World Economic Order".


2020 ◽  
Vol 30 (Supplement_5) ◽  
Author(s):  
M Poldrugovac ◽  
J E Amuah ◽  
H Wei-Randall ◽  
P Sidhom ◽  
K Morris ◽  
...  

Abstract Background Evidence of the impact of public reporting of healthcare performance on quality improvement is not yet sufficient to draw conclusions with certainty, despite the important policy implications. This study explored the impact of implementing public reporting of performance indicators of long-term care facilities in Canada. The objective was to analyse whether improvements can be observed in performance measures after publication. Methods We considered 16 performance indicators in long-term care in Canada, 8 of which are publicly reported at a facility level, while the other 8 are privately reported. We analysed data from the Continuing Care Reporting System managed by the Canadian Institute for Health Information and based on information collection with RAI-MDS 2.0 © between the fiscal years 2011 and 2018. A multilevel model was developed to analyse time trends, before and after publication, which started in 2015. The analysis was also stratified by key sample characteristics, such as the facilities' jurisdiction, size, urban or rural location and performance prior to publication. Results Data from 1087 long-term care facilities were included. Among the 8 publicly reported indicators, the trend in the period after publication did not change significantly in 5 cases, improved in 2 cases and worsened in 1 case. Among the 8 privately reported indicators, no change was observed in 7, and worsening in 1 indicator. The stratification of the data suggests that for those indicators that were already improving prior to public reporting, there was either no change in trend or there was a decrease in the rate of improvement after publication. For those indicators that showed a worsening trend prior to public reporting, the contrary was observed. Conclusions Our findings suggest public reporting of performance data can support change. The trends of performance indicators prior to publication appear to have an impact on whether further change will occur after publication. Key messages Public reporting is likely one of the factors affecting change in performance in long-term care facilities. Public reporting of performance measures in long-term care facilities may support improvements in particular in cases where improvement was not observed before publication.


2021 ◽  
Vol 13 (3) ◽  
pp. 1229
Author(s):  
Chung-Cheng Yang ◽  
Jianxiong Chen ◽  
Wen-Chi Yang

Taiwan’s Financial Supervisory Commission of the Executive Yuan promulgated the fully amended Certified Public Accountant Act in 2007, which directly led to significant changes in accounting law. From the perspective of the economic theory of law, this study investigates the amendment of the Certified Public Accountant Act resulting in an increase or decrease in the overall revenue and different revenue shares of accounting firms, and puts forward measures that should be taken by accounting firms and stakeholders. We focus on large accounting firms and divide the sample period into before and after 2008. This study uses the translog revenue function and revenue share functions of the public accounting industry, and based on the 1989–2017 Survey Report of Audit Firms in Taiwan, and we find that the amendment of the Certified Public Accountant Act has had a positive effect on overall revenue, increasing overall revenue and the overall management advisory services shares, and in reducing the overall accounting and auditing shares and tax services shares of large accounting firms. Additional analyses provide regulators with public policy implications and provide accounting firms with managerial information.


Energies ◽  
2021 ◽  
Vol 14 (11) ◽  
pp. 3319
Author(s):  
Jamal Mamkhezri ◽  
Leonard A. Malczynski ◽  
Janie M. Chermak

State-mandated renewable portfolio standards affect substantial portions of the total U.S. electricity supply. Renewable portfolio standards are environmentally motivated policies, yet they have the potential to greatly impact economy. There is not an agreement in the literature on the impact of renewable portfolio standards policies on regional economies, especially on job creation. By integrating various methodologies including econometrics, geographic information system, and input–output analysis into a unique system dynamics model, this paper estimates the economic and environmental impacts of various renewable portfolio standards scenarios in the state of New Mexico, located in Southwestern U.S. The state is endowed with traditional fossil fuel resources and substantial renewable energy potential. In this work we estimated and compared the economic and environmental tradeoffs at the county level under three renewable portfolio standards: New Mexico’s original standard of 20% renewables, the recently adopted 100% renewables standard, and a reduced renewable standard of 10%. The final one would be a return to a more traditional generation profile. We found that while the 20% standard has the highest market-based economic impact on the state as a whole, it is not significantly different from other scenarios. However, when environmental impacts are included, the 100% standard yields the highest value. In addition, while the state level economic impacts across the three scenarios are not significantly different, the county-level impacts are substantial. This is especially important for a state like New Mexico, which has a high reliance on energy for economic development. A higher renewable portfolio standard appears to be an economic tool to stimulate targeted areas’ economic growth. These results have policy implications.


Author(s):  
Takeshi Mizunoya ◽  
Noriko Nozaki ◽  
Rajeev Kumar Singh

AbstractIn the early 2000s, Japan instituted the Great Heisei Consolidation, a national strategy to promote large-scale municipal mergers. This study analyzes the impact that this strategy could have on watershed management. We select the Lake Kasumigaura Basin, the second largest lake in Japan, for the case study and construct a dynamic expanded input–output model to simulate the ecological system around the Lake, the socio-environmental changes over the period, and their mutual dependency for the period 2012–2020. In the model, we regulate and control the following water pollutants: total nitrogen, total phosphorus, and chemical oxygen demand. The results show that a trade-off between economic activity and the environment can be avoided within a specific range of pollution reduction, given that the prefectural government implements optimal water environment policies, assuming that other factors constraining economic growth exist. Additionally, municipal mergers are found to significantly reduce the budget required to improve the water environment, but merger budget efficiency varies nonlinearly with the reduction rate. Furthermore, despite the increase in financial efficiency from the merger, the efficiency of installing domestic wastewater treatment systems decreases drastically beyond a certain pollution reduction level and eventually reaches a limit. Further reductions require direct regulatory instruments in addition to economic policies, along with limiting the output of each industry. Most studies on municipal mergers apply a political, administrative, or financial perspective; few evaluate the quantitative impact of municipal mergers on the environment and environmental policy implications. This study addresses these gaps.


Südosteuropa ◽  
2020 ◽  
Vol 68 (4) ◽  
pp. 505-529
Author(s):  
Kujtim Zylfijaj ◽  
Dimitar Nikoloski ◽  
Nadine Tournois

AbstractThe research presented here investigates the impact of the business environment on the formalization of informal firms, using firm-level data for 243 informal firms in Kosovo. The findings indicate that business-environment variables such as limited access to financing, the cost of financing, the unavailability of subsidies, tax rates, and corruption have a significant negative impact on the formalization of informal firms. In addition, firm-level characteristics analysis suggests that the age of the firm also exercises a significant negative impact, whereas sales volume exerts a significant positive impact on the formalization of informal firms. These findings have important policy implications and suggest that the abolition of barriers preventing access to financing, as well as tax reforms and a consistent struggle against corruption may have a positive influence on the formalization of informal firms. On the other hand, firm owners should consider formalization to be a means to help them have greater opportunities for survival and growth.


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