Vernetzte Computer sind das wichtigste Kommunikationsmedium unserer Zeit. Die Verschmelzung von Datenverarbeitung und Telekommunikation war allerdings kein gradliniger Prozess. Das neuartige »Medium ...Computer« entwickelte sich vielmehr in einem komplexen Wechselverhältnis von technologischen Innovationen, dem Wandel von Wirtschafts- und Wettbewerbspolitik sowie gegenkulturellen Strömungen. In seiner zeithistorischen Studie analysiert Matthias Röhr diesen durchwachsenen Verlauf und zeigt auf, wie die Bundespost in den 1970er und 1980er Jahren mit Bildschirmtext und ISDN auf diese Entwicklung reagierte, und warum Hackerkulturen als Reaktion hierauf für ein »Menschenrecht auf freien Datenaustausch« eintraten.
Public expenditure and economic growth Bose, Niloy; Haque, M. Emranul; Osborn, Denise R
The Manchester School,
September 2007, Letnik:
75, Številka:
5
Journal Article
Recenzirano
In this paper, we examine the growth effects of government expenditure for a panel of 30 developing countries over the 1970s and 1980s, with a particular focus on disaggregated government ...expenditures. Our methodology improves on previous research on this topic by explicitly recognizing the role of the government budget constraint and the possible biases arising from omitted variables. Our primary results are twofold. First, the share of government capital expenditure in GDP is positively and significantly correlated with economic growth, but current expenditure is insignificant. Second, at the disaggregated level, government investment in education and total expenditures in education are the only outlays that are significantly associated with growth once the budget constraint and omitted variables are taken into consideration.
Two sides of the same coin Bacolod, Marigee P; Blum, Bernardo S
The Journal of human resources,
01/2010, Letnik:
45, Številka:
1
Journal Article
Recenzirano
Odprti dostop
We show that the narrowing gender gap and the growth in earnings inequality are consistent with a simple model in which skills are heterogeneous, and the growth in skill prices has been particularly ...strong for skills with which women are well endowed. Empirical analysis of DOT, CPS, and NLSY79 data finds evidence to support this model. A large increase in the prices of cognitive and people skills—skills with which women are well endowed—and a decline in the price of motor skills account for up to 40 percent of the rising inequality and 20 percent of the narrowing gender gap.
The New Issues Puzzle LOUGHRAN, TIM; RITTER, JAY R.
The Journal of finance (New York),
March 1995, Letnik:
50, Številka:
1
Journal Article
Recenzirano
Companies issuing stock during 1970 to 1990, whether an initial public offering or a seasoned equity offering, have been poor long-run investments for investors. During the five years after the ...issue, investors have received average returns of only 5 percent per year for companies going public and only 7 percent per year for companies conducting a seasoned equity offer. Book-to-market effects account for only a modest portion of the low returns. An investor would have had to invest 44 percent more money in the issuers than in nonissuers of the same size to have the same wealth five years after the offering date.
This article uses a cross-country econometric approach to identify the determinants for foreign direct investment (FDI) in Africa. The contribution is 3-fold. Firstly, we recognize that the ...estimation techniques used elsewhere, such as ordinary least squares, may be flawed. We therefore use a dynamic one-step generalized method of moments (GMM) estimator due to Arellano and Bond (
1991
). The GMM-estimates identified a number of robust determinants of FDI, namely government consumption, inflation rate, investment, governance (political stability, accountability, regulatory burden, rule of law) and initial literacy. It is concluded that geography does not seem to have a direct influence on FDI flows to Africa. Neither market-seeking nor re-exporting motives of FDI seem to dominate, with different policy instruments being significant in the different specifications. This does not discount the importance of good policies, but probably indicates the importance of good policies made by good institutions. Institutions, in the form of political stability showed up as a significant determinant of FDI.
RISE OF VAR MODELLING APPROACH Qin, Duo
Journal of economic surveys,
February 2011, Letnik:
25, Številka:
1
Journal Article
Recenzirano
This paper surveys the rise of the Vector AutoRegressive (VAR) approach from a historical perspective. It shows that the VAR approach arises from a fusion of the Cowles Commission tradition and time ...series statistical methods, catalysed by the rational expectations (RE) movement, that the approach offers a systematic solution to the issue of ‘model choice’ bypassed by Cowles researchers, hence essentially inheriting and enhancing the Cowles legacy rather than abandoning or opposing it. By tackling model choice, however, the VAR approach helps reform econometrics by shifting the research focus from measurement of given theories to identification/verification of data‐coherent theories.
Wahrend der 1970er und 1980er Jahre wuchsen die Anspruche an demokratische Teilhabe erheblich. Viele Menschen mischten sich in die Politik ein, doch oft scheiterten ihre Hoffnungen, die Gesellschaft ...zum Besseren zu verandern. Wie gingen die Engagierten damit um? Welche langfristigen Folgen zogen enttauschte Erwartungen nach sich? Diese Studie untersucht die emotionale Verarbeitung von politischen Alltagserfahrungen in Parteien, Gewerkschaften und sozialen Bewegungen. Sie analysiert Enttauschung als Gegenwartsdeutung, als Beziehungsmarker und als Argument in politischen Deutungskampfen. Sie zeigt, dass der demokratische Wettstreit um die Herzen nicht weniger intensiv gefuhrt wurde als um die Hirne. Kollektive Gefuhle werden so fassbar als Teil einer Erfahrungsgeschichte der Demokratie in der zweiten Halfte des 20. Jahrhunderts.
The article examines the influence of linguistic distance on the labor market outcomes of a sample of 5,041 first generation immigrants in Sweden between 1970 and 1990. The article exploits register ...data from the Swedish Longitudinal Database, examining a population of individuals from 11 non-Nordic countries of origin. The analysis focuses on the transition to the Swedish labor market, comparing the last occupation before migration with the first occupation after, measured by the ISEI score. Using OLS regression, the results finds important differences in the initial labor market outcomes that are linked to the individual's linguistic distance. More specifically, individuals proficient in languages belonging to the same language family as Swedish and familiar with the Latin alphabet are found to enjoy an advantage in the initial transition to the Swedish labor market. This finding exists net of the influence of the individual's region of origin, and is particularly accentuated among formally highly skilled males. This appears to confirm the comparatively large demands for destination-specific skills in highstatus occupations, favoring linguistically more proximate individuals. Among females, no consistent advantage among the linguistically most proximate can be observed among the formally highly skilled, potentially explained by differing selection mechanisms into the labor market. In general, however, the mechanisms through which linguistic distance affects the individual's initial occupation in Sweden appear to operate similarly along gender lines.
This study employs a broad, "Northian" framework of institutional analysis to investigate the effects of institutions of different national jurisdictions on the structuring of transborder outflows of ...Japanese industrial capital in the 1970s and 1980s and Chinese industrial capital in the 2000s and 2010s. While general theories, such as the stage theory of industrial development, can explain the growth of national industrial capital in the source country, this study focuses on the effects of institutions on the surge and the regional and sectoral destinations of Japanese and Chinese industrial capital outflows. These institutions are laws, policies and guidelines of the state; rules and normal practices in corporate organization and financing, and mechanisms of state-industry relations in the source country; laws, regulations, policy and practices of the host country in regulating and managing inflow foreign industrial capital; and intergovernmental arrangements for transborder industrial capital flow and operation. The study finds these three sets of institutions formed an effective transborder institutional environment that influenced national industrial capital to invest in certain countries and industrial sectors. The distinct institutional forms of organizing transborder industrial production in Japan's case then and China's case now are different from the multilateral institutional approach that dominated East Asia from the 1990s.
We examine a large set of economic, sociopolitical, and institutional variables in a panel of 57 developed and developing countries over the period of 1970–1990 to derive robust conclusions about ...which variables are important in explaining cross-country differences in public sector deficits. Financial depth, income inequality, assassinations, cabinet size, and centralization of authority in budgetary decisions are found to be significant and robust determinants of public deficits. We also propose a working hypothesis and provide supporting econometric evidence: social polarization is important in explaining differences in fiscal outcomes across countries, yet its effects may be even more pronounced or suppressed, depending on the political and institutional structures through which social polarization is linked to the fiscal policy-making process. Indeed, effects on public deficits of the sociopolitical variables tend to be smaller in countries with better institutional arrangements. Conversely, the sociopolitical polarization has very strong effects on deficits in the presence of poor institutions. The results are confirmed by extensive robustness tests such as the sensitivity analysis and the robust estimation method.
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