Share Of Sectors Research Articles

Looking Far in the Past: Revisiting the Growth-Returns Nexus with Nonparametric Tests

In this paper we reexamine the linkages between output growth and real stock price changes for the G7 countries using non-parametric procedures to account for the impact of long-lagged observations. We find that correlation between growth and returns is detected at larger horizons than those typically employed in parametric studies. The major feedbacks emerge from stock price changes to growth within the first 6 to 12 months, but we show that significant feedbacks may last for up to two or three years.Our evidence also suggests that the correlation patterns differ substantially between the countries at hand when the sectoral share indices are considered.

Unnatural Monopoly: The Endless Wait for Gas Sector Reform in Russia

THE NATURAL GAS INDUSTRY is probably the least marketised major sector in Russia. The transitional institutions and structures created in 1992 have proved highly resistant to change, and attempts to increase the role of market forces in the sector have had little success. It is increasingly clear, however, that lack of reform represents a threat to the sector’s long-term development and, by extension, to Russia’s longterm growth. 1 This article examines the state of the gas industry today, as well as options for reform. The first section describes the structure of the sector and its role in the Russian economy. This is followed by an analysis of the domestic market. These two sections highlight the anomalous position of the vertically integrated gas monopoly OAO Gazprom. Though constituted as a joint-stock company, Gazprom operates in many ways as an arm of the state, combining commercial and regulatory functions, and maintaining tight control over the sector’s infrastructure and over information flows within it. Gazprom’s control over information is particularly important, as it renders opaque much of what happens in the sector. The third section considers the major sources of pressure for change, chief among which is the need to stimulate investment in gas production in order to sustain output over the long term. Proposals for reform are considered in the final section. There is an urgent need to increase transparency in the sector and transfer many of the regulatory functions now performed by Gazprom to the state. There is also a longer-term need for much more fundamental restructuring, involving a considerable degree of unbundling of Gazprom. In particular, it would be desirable to remove control of the sector’s transport infrastructure from the company and to revise the arrangements governing gas exports to non-CIS states, which are currently monopolised by Gazprom. At the same time, recent increases in domestic gas tariffs must continue until internal gas prices rise above full, long-term cost recovery levels. Cost-reflective pricing of gas on the domestic market will be crucial to securing the industry’s future. Overview of the sector It is hard to exaggerate the significance—national and international—of Russia’s natural gas sector. The Russian Federation accounts for around 27% of the world’s proven reserves of natural gas, with roughly 47 trillion cubic metres in explored

Creating options in family planning for the private sector in Latin America

The countries of Latin America and the Caribbean are facing the gradual phase-out of international-donor support of contraceptive commodities and technical and management assistance, as well as an increased reliance on limited public sector resources and a limited private sector role in providing contraceptives to the public. Therefore, those nations must develop multisectoral strategies to achieve contraceptive security. The countries need to consider information about the market for family planning commodities and services in order to define and promote complementary roles for the public sector, the commercial sector, and the nongovernmental-organization sector, as well as to better identify which segments of the population each of those sectors should serve. While it is unable to mandate private sector participation, the public sector can create conditions that support and promote a greater role for the private sector in meeting the growing needs of family planning users. Taking steps to actively involve and expand the private sector's market share is a critical strategy for achieving a more equitable distribution of available resources, addressing unmet need, and creating a more sustainable future for family planning commodities and services. This paper also discusses in detail the experiences of two countries, Paraguay and Peru. Paraguay's family planning market illustrates a vibrant private sector, but with limited access to family planning commodities and services for those who cannot afford private sector prices. In Peru a 1995 policy change that sought to increase family planning coverage had the effect of restricting access for the poor and leaving the Ministry of Health unable to pay for the growing need for family planning commodities and services.

Greasing the Wheels of Trade: A Profile of the Dutch Transaction Sector***

How many resources does a nation spend on transactions costs to ‘grease the wheels of trade’? To examine this question the Dutch economy is used as a case study. The Netherlands are known as a nation of traders and this image was derived in the seventeenth century from successes in long distance trade, shipping and financial innovations. Despite its historical background the trading sector has never been adequately measured. In this paper, we present a first attempt in measuring and describing the Dutch transaction sector. Measurement by means of occupational data points out that approximately 25% of Dutch workers is employed in transaction jobs, and 29% if one includes transport tasks. We make the case that traditional industrial sector categories overestimate the true transaction character of an economy. Traditional ‘trade’ sectors employed 13% of the workers in 1807 and 39 percent in 1998, but these figures conceal the fact that all organizations employ jobs which have transformation and transaction tasks. A counterfactual exercise suggests that the growth of the transaction sector share in employment over two centuries was not 200% but 42%.

China's industrial revolution: challenges for a macroeconomic agenda

China's industrialization over the past 30 years has been an epochal event. As of 2000, the industrial sector's share of GDP has grown to be about two-third of the total. The share of agricultural sector of GDP has expectedly declined from 42.2% in 1970 to 11.9% in 2000. The sector's total output however continues to grow as productivity increases. Has the service sector grown enough to support the overall growth of the Chinese economy? China has earned her recognition as a foreign investment friendly economy. Foreign direct investment with 100% foreign ownership came in plenty, supported by a robust system of profit repatriation based on earnings in convertible currencies of exports of a part of newly manufactured products in China. China imported capital and paid for it by exports. China demonstrates a clear case of the import-export led model of industrialization and economic growth, not the simple export-led growth model, as discussed by some. This paper discusses that challenges ahead of China are overwhelming. We present three issues for immediate attention, (a) Can China sustain a rate of growth of GDP at an annual rate of 10% for an indefinite period? (b) How can China address the issues of income distribution across her 31 province and also amongst the various income groups in a given industrialized province/region? (c) Can China ensure progressive augmentation of high-tech oriented productivity of her workforce by way of ensuring building up of necessary human capital? It is argued that much of this can be accomplished by developing a macroeconomic framework with monetary and fiscal policy guidelines, well specified and transparent. Can China restructure its central bank, the Peoples Bank of China (PBOC)? A progressive money, banking and financial sector with ability to absorb shocks of an industrial economy must be in order. How about the fiscal policy management by the Government of China—its Ministry of Finance? Finally this paper argues that China's economic presence will help optimize the economic gains for the rest of the world. China has joined her Asian neighbors toward sponsoring Asian economic cooperation. Let the European Union paradigm be a learning model, and China has a leadership role to play in further developing Asia's continental economic regional model.

How Large is the Oil and Gas Sector of Russia? A Research Report

Two noted Japanese economists join forces with a Russian statistician to assess and analyze the size of Russia's oil and gas sector. The authors discuss the methodology favored by Goskomstat Rossii that is based on the System of National Accounts (SNA) and data supplied by enterprises, and introduce their alternative calculations to approximate the sector's share in the country's GDP. Their method is based on a modification of input-output tables, utilizing enterprise groups as units of statistical observation. Both methods are then compared and the resulting discrepancy traced to the sector's specific characteristics rather than to faulty methodological treatment by Goskomstat Rossii. Journal of Economic Literature, Classification Numbers: C67, C82, E23, L71, Q43. 7 tables, 21 references.

Deconstructing the Software Interface: A Critical Close Reading of AutoCAD

AutoCAD maintains a nearly 70% market share in the PC-based AEC sector and wields enormous influence over design and production processes in architectural firms and schools. Such an impact is, perhaps, more than what a single building can hope to achieve. The design implications of such a market monopoly are many. Based on Derridean operations of Deconstruction, the paper will deconstruct AutoCAD's latent agenda. The paper will do a critical close reading of AutoCAD for its design preferences, spatial conceptions, worldviews, resistances, stratifications and organizational predispositions with respect to architectural design process. For purposes of brevity, this paper will focus on the architecture of AutoCAD's interface. The results of the paper would be the beginning of a critical theory that can be employed in the process of software design for design professions.

Differences in Regional Firm Formation Rates: A Decomposition Analysis

This article examines regional differences in recent business formation activity in the United Kingdom over the period 1994–2001. It considers the extent to which regional differences can be accounted for by (i) variations in industrial structure, with some regions having a greater or lesser share of sectors where the formation rate tends to be high; and (ii) variations across regions in the formation rate in the same sector. The article shows wide variations across regions and over time in the relative importance of these two factors. The article explores some policy implications of this decomposition.

Development of a Master Plan for Water Pollution Control Using MCDM Techniques: A Case Study

Excessive demand for water due to a growing population, agricultural, and industrial development, along with climate change and depletion of nonrenewable resources have intensified the need for integrated water resources management and water pollution control. This paper presents different aspects of a master plan for water pollution control and the results of a case study for developing a master plan for water resources pollution control in Isfahan Province in Iran. Different components of the water resources system and pollution sources in the study area were identified and the effects of each of the pollution sources on surface and groundwater resources contamination were investigated. Two Multiple Criterion Decision Making (MCDM) techniques, namely Simple Additive Weighting (SAW) method and Analytical Hierarchy Structure (AHP) were used in order to determine the share of agricultural, industrial, and domestic sectors in polluting the water resources. In the application of MCDM techniques, engineering judgments and the information gathered from brain storming sessions with engineering experts and the agencies' officials have also been incorporated in order to overcome the data deficiency in this region for this type of analysis. Based on this study, several specific major categories of water pollution reduction projects were defined and in each category, several projects were identified. The total cost of implementation of the projects was also estimated and the projects were prioritized based on their potential impact on water pollution control.

EXPLAINING ASYMMETRY IN THE U.S. MERCHANDISE AND SERVICE ACCOUNT BALANCE: Does the Service Sector Hold the Key to the U.S. Current Account Woes?

The U.S. economy has experienced two noteworthy structural changes in recent years. Externally, there has been a growing deficit in the merchandise account along with a simultaneously rising service account surplus. And domestically, the GDP share of the service sectors has been growing at a faster rate relative to the goods sectors. The objective of this article is to test the proposition that much of the asymmetry in the relative performance of the merchandise and the service accounts can be explained (1) in terms of income and price elasticity differentials and (2) in terms of relative growth of the service sectors. Results from estimated import and export demand functions for merchandise and service trades and from sectoral analysis of the U.S. economy seem to support the above proposition. The main policy implications are that: (1) domestically, the United States should facilitate current sectoral transformation by eliminating market distortions and rigidities and (2) externally, it should expand on the initiatives taken during the Uruguay Round and drive the WTO toward a full liberalization of trade in services.

‘Economic rationalism’ in Canberra and Canada: Public sector reorganisation, politics, and power

Australian public sector institutions and public sector labour relations experienced intense change during the 1980s and 1990s. Proponents of restructuring sought to insert market‐like pressures into areas formerly governed by bureaucratic mechanisms. This reversed a trend towards continual growth in state provision of non‐market based social protection and social welfare, and continual growth in the public sector's share of the economy. The politics and content of Australian public sector restructuring under Labor and then the Liberals substantially resembled restructuring efforts in two Canadian provinces. In all three examples, political pacts between unions in the exposed and non‐exposed sectors, and between organised labour and capital, determined the direction of change. But the level of institutional robustness of these various actors determined both the pace and effectiveness of change. Weak employer organisations and unions incapable of sustaining pacts in Canada produced wider oscillations in policy content that attained less substantive success than in Australia.

EXPLAINING ASYMMETRY IN THE U.S. MERCHANDISE AND SERVICE ACCOUNT BALANCE: Does the Service Sector Hold the Key to the U.S. Current Account Woes?

The U.S. economy has experienced two noteworthy structural changes in recent years. Externally, there has been a growing deficit in the merchandise account along with a simultaneously rising service account surplus. And domestically, the GDP share of the service sectors has been growing at a faster rate relative to the goods sectors. The objective of this article is to test the proposition that much of the asymmetry in the relative performance of the merchandise and the service accounts can be explained(1) in terms of income and price elasticity differentials and(2) in terms of relative growth of the service sectors.Results from estimated import and export demand functions for merchandise and service trades and from sectoral analysis of the U.S. economy seem to support the above proposition. The main policy implications are that:(1) domestically, the United States should facilitate current sectoral transformation by eliminating market distortions and rigidities and(2) externally, it should expand on the initiatives taken during the Uruguay Round and drive the WTO toward a full liberalization of trade in services.

The New nonprofit almanac and desk reference: the essential facts and figures for managers, researchers, and volunteers

List of Tables. List of Figures. Foreword (Sara Melendez and Elizabeth Boris). Introduction. Acknowledgments. Overview and Executive Summary: The State of the Independent Sector. PART 1: THE SIZE OF THE INDEPENDENT SECTOR. 1. Defining the Independent Sector and Its Place in the National Economy. What Is the Independent Sector? Growth in the Number of Organizations Among the Major Sectors. Share of National Income Among the Major Sectors. Employment in the Major Sectors. Earnings from Work in the Major Sectors. Relationship Between Expenditures of the Independent Sector and the American Population. Independent Sector's Share of Total Services and Personal Consumption. 2. Employment Trends in the Independent Sector. Employment Patterns in the Independent Sector. Employment Trends by Subsector. Trends in Wages and Salaries by Subsector. Employment Trends by Gender, Race, and Ethnicity in the Independent Sector. 3. Trends in Private Giving. Total Private Giving. Giving by Individuals. Giving by Foundations. Giving by Corporations. 4. The Financial Trends and Condition of the Independent Sector. Trends in Total Revenue for the Independent Sector. Financial Trends in Health Services. Financial Trends in Education and Research Organizations. Financial Trends in Religious Organizations. Financial Trends in Social and Legal Services. Financial Trends in Arts and Cultural Organizations. Financial Trends in Other Subsectors. Variations in Financial Trends Among Subsectors. PART 2: A DETAILED LOOK AT REPORTING PUBLIC CHARITIES. 5. The Distribution and Finances of Public Charities. What Are Reporting Public Charities? Reporting Public Charities by Size and Age. Reporting Public Charities by Type and Age. Finances of Reporting Public Charities, 1998. Growth in the Number and Finances of Reporting Public Charities, 1992 1998. Trends in Reporting Public Charities by Major Subsector. Geographical Distribution of Reporting Public Charities. Financial Trends in Reporting Public Charities by State. RESOURCES. A: National Taxonomy of Exempt Entities Core Codes (NTEE CC) for the Nonprofit Sector. B: Technical Notes. C: Key Data Sources and Web Sites on the Nonprofit Sector. D: Glossary of Terms. Index.

A study of sectoral energy consumption in Hong Kong (1984-97) with special emphasis on the household sector

Abstract This study consists of two major parts. The first part deals with the changes in the pattern of sectoral energy consumption from 1984 to 1997, when the sectoral share of industry plummeted from 33.2% to 14.6%, whereas the share of the commercial sector advanced from 20.0% to 29.9%, trailed by smaller rises in the transportation and household sectors. Three factors contributed to these developments : First, changes in the economic structure, i.e. the decline in the role of manufacturing caused by the northward movement of industries into the Mainland, and the accompanying rise in the role of the tertiary activities; secondly, government policy and planning issues relating to the spatial development of Hong Kong; thirdly, the phenomenal hiking in living standard. The second part analyses household energy consumption in light of the energy transition model. Electricity played an increasingly important role in satisfying household energy demand, while LPG and kerosene were displaced by towngas as heating fuels. Lastly, ramifications of the study are presented.

Health spending projections for 2001-2011: the latest outlook.

This paper describes the most recent ten-year projections of national health spending. projections, produced annually, are based on econometric and actuarial models of the health sector. Our current outlook includes a sharper near-term increase in the health sector's share of gross domestic product (GDP), which reaches 16.8 percent by 2010, compared with the 15.9 percent projected last year. This difference largely reflects legislation-driven increases in public spending growth combined with a weaker economic outlook. Recent acceleration in private-sector health spending is projected to peak in 2002.

L'humanité face à l'effet de serre additionnel qu'elle crée

The likely anthropogenic climate change impacts are summarized, as well as the adaptation capabilities and the possibilities of controlling the greenhouse gas concentration in the atmosphere. A number of physical and biological systems have already been impacted by the observed temperature increases. The main domains at risk are discussed: hydrology and water resources, agriculture and food security, terrestrial ecosystems, oceans and coastal zones. Problems specific to Europe are presented. The share of the various activity sectors in the emission of greenhouse gases and the possibilities of reducing these emissions are discussed. Costs and benefits of mitigation actions can be estimated under a number of assumptions that are recalled. The results of the major economic studies are presented. The long-term efficiency of the mitigation actions is linked with their generalization to all countries in the world.

A study of sectoral energy consumption in Hong Kong (1984–97) with special emphasis on the household sector

This study consists of two major parts. The first part deals with the changes in the pattern of sectoral energy consumption from 1984 to 1997, when the sectoral share of industry plummeted from 33.2% to 14.6%, whereas the share of the commercial sector advanced from 20.0% to 29.9%, trailed by smaller rises in the transportation and household sectors. Three factors contributed to these developments : First, changes in the economic structure, i.e. the decline in the role of manufacturing caused by the northward movement of industries into the Mainland, and the accompanying rise in the role of the tertiary activities; secondly, government policy and planning issues relating to the spatial development of Hong Kong; thirdly, the phenomenal hiking in living standard. The second part analyses household energy consumption in light of the energy transition model. Electricity played an increasingly important role in satisfying household energy demand, while LPG and kerosene were displaced by towngas as heating fuels. Lastly, ramifications of the study are presented.

A Modification of the Production Function for Transition Economies Reflecting the Role of Institutional Factors

This paper constructs an institutional index of transition (IIT) for the FSU countries, estimates their statistics on output, capital stock, and employment, incorporates the IIT into the neoclassical production function, and estimates the modifications of the production function with effects of explanatory variables varying across countries. The IIT is based on the EBRD transition indicators but differs from the indicators' average annual value in that it incorporates the private sector share of GDP. Using panel data and building production function modifications with common and country-specific effects, the following hypotheses were tested: quantitative changes in production factors affect all FSU countries in a similar way, the impact of the IIT varies across countries, initial conditions are significant in transition, and the estimators are not sensitive to data fluctuations.

Upstream Effects of Generic Advertising: The Case of Catfish

Muth's model is adapted to determine the effects of generic advertising on upstream factor markets in a competitive industry where funds for promotion are raised through a feed tax. Optimality conditions indicate that a feed tax is an inferior funding mechanism. That is, the resulting promotion budget, in general, is too small to maximize producer surplus at the farm level. Applying the model to the U.S. catfish industry, results suggest that raising the feed tax from $5 to $6 per ton is welfare increasing for farm, feed, and non-feed sectors alike. Distributional analysis suggests that the processing sector captures most of the long-term benefits (51%), followed by the non-feed sector (42%). Despite the feed sector's modest share of total benefits (7%), owing to tax shifting its long-run benefit-cost ratio (1.8:1) is favorable. Because feed and non-feed inputs are gross substitutes, the feed tax generates a positive externality for non-feed suppliers. Accounting for this externality raises the non-feed sector's net benefit by 36%. Overall, about one-half of the program's long-term net benefits accrue to input suppliers.

Deindustrialisation and Structural Change During the Post-Communist Transition

The aim of this paper is to model the evolution of employment structure in post-communist economies in the broader context of deindustrialisation. The paper builds on the model of structural change developed by Rowthorn and Wells (1987). We show that the starting point of high industry sector share in total employment and its direct fall when productivity of sectors changes in favour of services can be explained in terms of this framework. Moreover, the model can also describe the phenomenon of a further expansion of the agriculture, observed in countries classified as less consistent in the reforms implementation. Hence, we distinguish two development paths, the efficient one, called horizontal, and the inefficient one called vertical. We illustrate it with empirical data, using alternative measures of structural change and patterns of structural evolutions during transition. Finally, we discuss the link between the EBRD indicators of reforms and structural change. We show that the quality of reforms, not the initial GDP level determines a country's development path.