Browsing by Subject "P23"

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  • Mamonov, Mikhail; Vernikov, Andrei (2015)
    BOFIT Discussion Papers 22/2015
    Published in Economic Systems, Volume 41, Issue 2, June 2017, Pages 305–319 as Bank ownership and cost efficiency: New empirical evidence from Russia.
    This paper considers the comparative efficiency of public, private, and foreign banks in Rus-sia, a transition economy with several unusual features. We perform stochastic frontier anal-ysis (SFA) of Russian bank-level quarterly data over the period 2005–2013. The method of computation of comparative cost efficiency is amended to control for the effect of revalua-tion of foreign currency items in bank balance sheets. Public banks are split into core and other state-controlled banks. Employing the generalized method of moments, we estimate a set of distance functions that measure the observed differences in SFA scores of banks and bank clusters (heterogeneity in risk preference and asset structure) to explain changes in bank efficiency rankings. Our results for comparative Russian bank efficiency show higher efficiency scores, less volatility, and narrower spreads between the scores of different bank types than in previous studies. Foreign banks appear to be the least cost-efficient market participants, while core state banks on average are nearly as efficient as private domestic banks. We suggest that foreign banks gain cost-efficiency when they increase their loans-to-assets ratios above the sample median level. Core state banks, conversely, lead in terms of cost efficiency when their loans-to-assets ratio falls below the sample median level. The presented approach is potentially applicable to analysis of bank efficiency in other dollarized emerging markets.
  • Hasan, Iftekhar; Kobeissi, Nada; Wang, Haizhi; Zhou, Mingming (2015)
    BOFIT Discussion Papers 11/2015
    Published in Pacific Economic Review, Volume 20, Issue 3, pages 487–510, August 2015.
    This paper provides an empirical examination of the regional banking structures in China and their effects on entrepreneurial activity. Using a panel of 27 provinces and four directly controlled municipalities from 1997 through 2008, we find that the presence of large banking institutions negatively correlates with small business development in local markets and that this negative relation is driven mainly by participation of large banks in the short-term loan market. Rural banking institutions, in contrast, are found to promote regional entrepreneurial activity. Moreover, large state banks facilitate small business development in concentrated markets. When we interact measures of banking financing by state banks and rural banking institutions with a set of provincial level marketization indexes, we find that extensive marketization, factor market development, and sophistication of legal frameworks mitigate the negative effect of large state banks on small business development. In provinces with advanced market development, efficient factor markets, and favorable institutional settings, the positive effect of rural banking institutions on small business growth is even stronger. Finally, we present evidence that banks do a better job of promoting regional entrepreneurship when it occurs in conjunction with policies to foster innovation activity and assure protection of intellectual property rights.
  • Smirnova, Natalia (2003)
    BOFIT Discussion Papers 13/2003
    This paper explores the determinants of job search behavior, search intensity and choices of search methods of the unemployed workers in transitional Russia.We use pooled data from rounds 5-9 of the Russia Longitudinal Monitoring Survey (RLMS) to estimate the effects of socio-economic factors on the choices workers make while looking for a job.The results show that women are significantly less likely than men to engage in job searches, lag significantly behind men in search intensity, and significantly differ from men in their search strategies.The job search behavior of workers living in metropolitan areas of Moscow and St.Petersburg differs substantially from the behavior of workers living elsewhere in Russia.The most frequently used search strategy in Russia, as in other countries, is contacting friends and relatives for job leads. Keywords: Russia, Transition, Job Search, Search Intensity, logit JEL Code: J64, P23
  • Pyle, William (2020)
    BOFIT Discussion Papers 17/2020
    This article links Russians’ individual experiences during the late-Gorbachev and early-Yeltsin years to the beliefs those same individuals espoused in the Putin era, over a decade later. Drawing on questions, some of which are retrospective, from the first wave of the Life in Transition Survey, I show that a range of attitudes – including diminished support for markets and democracy and stronger support for reducing inequality – can be explained by whether an individual suffered labor market hardships (wage cuts, arrears, and/or unemployment) in the half decade from 1989 to 1994. More recent labor market disruptions, surprisingly, bear no such relationship to beliefs in 2006. Relative to the rest of the former Soviet Union, this pattern is unique. Though an explanation is difficult to pin down, one speculative hypothesis is that Russians were uniquely impressionable during this exit-from-communism period. Individual economic hardship, in conjunction with the dissolution of the Soviet Union, may have been particularly disorienting for those living in the country in which communism first took root. Life experiences during these years of instability, uncertainty, and diminished status may have left a uniquely deep and enduring impression.
  • Holz, Carsten A. (2014)
    BOFIT Discussion Papers 13/2014
    The purpose of this paper is to ascertain how wages are being determined in China during the reform period. The paper focuses on the development of the regulatory framework since 1978 and proceeds by examining official regulations regarding labor market institutions and wage setting, and by evaluating their potential implications for actual wage setting. JEL codes: J3, J30, J31, J4, J41, J45, M5, M52, M54, M55, P2, P23 Keywords: wage determination, labor market institutions, minimum wages, wage classification system, wage level and structure, labor contracts, collective bargaining, public sector wages, wage-performance link