This study uses the High School and Beyond data (1980–1992) to examine the importance of educational and fertility expectations in explaining the achievement gap of adolescent mothers for over 5,500 ...young women from different socioeconomic backgrounds. Using a non‐parametric local propensity score regression, the study finds that the economic disadvantage associated with having a child in high school is particularly large in poor socioeconomic environments; however, this disadvantage is a result of preexisting differences in the educational and fertility expectations and is not because of a diminished capacity of the socioeconomic environment to mediate the effect of an unplanned childbirth. The findings suggest that childcare assistance and other policies designed to alleviate the burden of child rearing for young mothers of low means may not produce the desired improvement in their subsequent educational and labor market outcomes. A much earlier policy intervention with a focus on fostering young women's outlook for the future is needed. (JEL J13)
This paper extends measures of total factor productivity (TFP) for China's state and collective industry to cover the period 1980–1992, analyzes issues raised by critics of previous studies, and ...evaluates the robustness of productivity results. TFP increased in both major segments of Chinese industry throughout 1980–1992. The analysis of measurement issues confirms earlier results showing moderate TFP growth for state industry. Data bias may undercut the common observation of differential TFP growth favoring collective industry. TFP growth declines after 1988, especially in the state sector, where partial productivity of fixed capital drops. Differential rates of capacity utilization and, in state industry, selection bias and an unresponsive system of investment finance may have retarded the measured growth of productivity during 1988–1992.
This paper focuses on the role of the efficiency gap in determining whether or not domestic firms benefit from productivity spillovers from FDI. We use establishment level data for the period ...1980-1992 for the UK. Given that there is substantial heterogeneity of productivity across sectors we focus on two manufacturing sectors in detail, namely, electronics and engineering. We allow for different effects of FDI on establishments located at different quantiles of the productivity distribution by using conditional quantile regression. Overall, while there is some heterogeneity in results across sectors and quantiles, our findings clearly suggest that the efficiency gap matters for productivity spillover benefits. We find evidence for a u-shaped relationship between productivity growth and FDI interacted with the efficiency gap. We also analyse in some detail the impact of changes in relative efficiency on establishments' ability to benefit from spillovers. PUBLICATION ABSTRACT
This book seeks to demonstrate that, with the multifaceted reform set in motion between 1963 and 1965, the Yugoslav political system acquired, domestically, the basic features of an international ...balance-of-power system. These features account for the basic pattern and dynamics of Yugoslav politics to the present day.
This study examines the claim that the AIDS epidemic will slow the pace of economic growth. We do this by examining the association, across 51 developing and industrial countries for which we were ...able to assemble data, between changes in the prevalence of AIDS and the rate of growth of GDP per capita. Our analysis uses well-established empirical growth equations to control for a variety of factors possibly correlated with AIDS prevalence that might also influence growth. We also account for possible simultaneity in the relationship between AIDS and economic growth. Our main finding is that the AIDS epidemic has had an insignificant effect on the growth rate of per capita income, with no evidence of reverse causality.
We analyze the advice contained in a sample of 237 investment newsletter strategies over 1980-1992. Each newsletter strategy recommends a mix of equity and cash. We find no evidence that letters ...systematically increase equity weights before market rises or decrease weights before market declines. While there is no information in the newsletter strategies about future market returns, we document that disagreement among the newsletters is correlated with future realized and implied volatility.
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