Browsing by Subject "D23"

Sort by: Order: Results:

Now showing items 1-2 of 2
  • Castañeda Dower, Paul; Pyle, William (2016)
    BOFIT Discussion Papers 17/2016
    Inefficiently organized, factory-dominated cityscapes have been one of the more enduring legacies of the twentieth century experiment with socialist central planning in Eastern Europe and the Soviet Union. Drawing on a unique survey of large, formerly state-owned urban industrial firms in Russia, we explore how land tenure reforms affect the pace at which this legacy is being erased. Specifically, the privatization of plots is shown to promote the development of a rental market that transfers land use rights away from socialist-era industrial users. We address the potential endogeneity of land tenure in two ways, including using a measure of regional variation in urban land policy as an instrumental variable.
  • Itkonen, Juha (2019)
    BoF Economics Review 1/2019
    The impact of digitalisation is not fully reflected in economic statistics. Even though commonly used economic metrics such as GDP are still relevant in assessing the state of the economy, the production of statistics should be developed to measure the digital economy better. The most significant measurement challenges caused by digitalisation relate to new goods, free services, changes in quality and the movement of intellectual capital between countries. Due to digitalisation, GDP and productivity growth may have been understated and the rate of price inflation overstated. Measurement errors alone do not explain the exceptionally weak development in recent years, nor do they eliminate the problems of the Finnish economy and the key challenges for economic policy. Digital technology has, however, improved our well-being in ways that are difficult to measure in money.