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on Transition Economics |
By: | Olga Izryadnova (Gaidar Institute for Economic Policy) |
Abstract: | This paper deals with Russia's production macrostructure in 2012. The author focuses on the post-crisis performance of the Russian economy, main characteristics of GDP utilization and changes in the GDP structure by source of income. |
Keywords: | Russian economy, production macrostructure, GDP |
JEL: | F34 G24 |
Date: | 2013 |
URL: | http://d.repec.org/n?u=RePEc:gai:ppaper:145&r=tra |
By: | Lilia Karachurina (Gaidar Institute for Economic Policy) |
Abstract: | The State Migration Policy Concept of the Russian Federation through 2025 was adopted in Russia in 2012 after an extended discussion. The Concept is the second one in the Russian modern history. The first one – The Migration Process Regulation Concept of the Russian Federation – was issued in 2003 but failed to be implemented both due to the fact that “the rigor of the laws is commonly mitigated by non-compliance therewith in Russia” and some of the provisions of the above document were rendered a priori impossible and its analytical quality was found to be hit-or-miss. |
Keywords: | Russian economy, migration, labor migration, domestic migration |
JEL: | J11 J61 J62 F22 |
Date: | 2013 |
URL: | http://d.repec.org/n?u=RePEc:gai:ppaper:160&r=tra |
By: | Sergey Tsukhlo (Gaidar Institute for Economic Policy) |
Abstract: | The author studies the performance of Russian industrial enterprise in 2012. He focuses on the issue of the second wave of the crises hitting the Russian industry. The paper also deals with lending issues to the Russian industry in 2012. Problems of labor shortages hitting the Russian industry are investigated as well. Assessment of the government anti-crisis measures are also provided. |
Keywords: | Russian industry performance, lending to industry, labor problems, anti-crisis government measures |
JEL: | C53 E37 L21 L52 |
Date: | 2013 |
URL: | http://d.repec.org/n?u=RePEc:gai:ppaper:157&r=tra |
By: | Egorov, Alexey (BOFIT); Kovalenko , Olga (BOFIT) |
Abstract: | Russian banks exhibit a range of behaviors that have led to distinct segmentation within the interbank lending market. This paper provides an overview of the core groups of banks operating in the market (state banks, private banks, and foreign-owned banks), as well as a discussion of their assets and liability structures. The 2007–2010 financial crisis had considerable impact on the Russian financial sector. As conditions deteriorated and recovered in global money markets, Russian banks adjusted their behavior with respect to other domestic banks and foreign banks. We conduct a comparative analysis of the Russian interbank lending market structure in the pre-crisis period and during recovery to reveal the tactical shifts in the various bank groups. |
Keywords: | interbank markets; Russia; interest rates |
JEL: | C22 E43 E44 |
Date: | 2013–08–28 |
URL: | http://d.repec.org/n?u=RePEc:hhs:bofitp:2013_023&r=tra |
By: | Zeting LIU (CLERSE) |
Abstract: | Après trente ans de croissance économique annuelle de 9,9 % en moyenne depuis les réformes économiques lancées en 1978, la Chine est devenue la deuxième puissance économique mondiale. Elle est également le premier émetteur de CO2 et consommateur énergétique et de matières premières. La dégradation environnementale impacte sur la vie de millions d’habitants dans les villes ainsi que dans le milieu rural et crée des conflits avec les pays limitrophes. Cette étude propose une nouvelle approche pour analyser les politiques chinoises en matière de la transition durable en appuyant sur les théories du système national d’innovation (SNI). En analysant les deux industries clés de la transition énergétique en Chine – le photovoltaïque et l’éolienne, nous montrons la force et les faiblesses de la politique pour promouvoir l’innovation verte en Chine. Ces analyses nous permettent de retenir l’hypothèse qu’une convergence des politiques industrielle, énergétique et d’innovation est en train d’émerger pour former une politique de la transition durable en Chine. After thirty years of annual economic growth of 9.9% since the economic reforms initiated in 1978, China has become the world’s second largest economy. It is also the largest emitter of CO2 and consumers of energy and raw materials. Environmental degradation in China affects the lives of millions of people, in the cities as well as in rural areas, and creates conflicts with neighboring countries. This study proposes a new approach to analyze Chinese sustainable transition policies based on the theories of the national innovation system (NIS). By studying the two key industries - the photovoltaic and the wind turbine - of the energy transition in China, we show the strength and weaknesses of Chinese policies to promote green innovation in the country. These analyzes allow us to retain the hypothesis of a convergence of industrial, energetic and innovation policies to form a policy of sustainable transition in China. |
Keywords: | politique d’innovation, système d’innovation, industrie photovoltaïque, industrie éolienne, transition, Chine, innovation policy, system of innovation, photovoltaic industry, wind turbine industry |
JEL: | O38 O13 O33 N75 |
Date: | 2013–09 |
URL: | http://d.repec.org/n?u=RePEc:rii:riidoc:271&r=tra |
By: | Michael Kromov (Gaidar Institute for Economic Policy) |
Abstract: | This paper deals with Russia's banking sector in 2012. The author focuses on relationship between banks and corporate customers, foreign transactions in the banking sector, banking regulation. |
Keywords: | Russian economy, banking sector, foreign transactions, banking regulation |
JEL: | E41 E51 E58 G28 G21 G24 |
Date: | 2013 |
URL: | http://d.repec.org/n?u=RePEc:gai:ppaper:147&r=tra |
By: | Zhong Zhao; Zhaopeng Qu |
Abstract: | The paper studies the levels and changes in wage inequality among Chinese rural-urban migrants from 2002 to 2007. We use the Chinese Household Income Project dataset and the Rural to Urban Migration in China dataset to construct a unique dataset that allows us to document changing wage inequality among migrants and among urban natives between 2002 and 2007. We find that wage inequality among migrants decreased significantly between 2002 and 2007, whereas it increased among urban natives during the same period. Our results show that the high-wage migrants experienced slower wage growth than middle- and low-wage migrants, a primary cause of declining inequality among migrants. We used distributional decomposition methods, and find that the overall between-group effect (coefficient effect) dominates in the whole wage distribution of the migrants, which means that the change in returns to the characteristics (education and experience) play a key role, but on the upper tails of the wage distribution, the within group effect (residual price effect) dominates which implies that the unobservable factors or institutional barriers do not favor the migrants at the top tail of the wage distribution. |
Keywords: | rural to urban migrants, wage inequality, quantity decomposition, China |
JEL: | J30 J45 J61 |
Date: | 2013 |
URL: | http://d.repec.org/n?u=RePEc:lvl:pmmacr:2013-04&r=tra |
By: | Gabor Hunya (The Vienna Institute for International Economic Studies, wiiw); Monika Schwarzhappel (The Vienna Institute for International Economic Studies, wiiw) |
Abstract: | Content The first part of the publication contains an analysis of the latest FDI trends. The analysis highlights the modest recovery of FDI in 2012. The second part of the publication contains two sets of tables Tables I total flow and stock data, FDI flow by components and FDI income, FDI per capita and other FDI reference parameter (2004-2012) Tables II detailed FDI data by economic activity and by country (last four years) The main sources of data are the central banks of the individual Central, East and Southeast European countries. General Description General Description (PDF) Abstract The first part of this report provides an analysis of the 2012 FDI trends in 22 CESEE countries, pointing to a modest recovery. The strongest growth in inflows in 2012 was observed in the NMS (+35%) following a year with extremely low inflows. But the exceptionally high FDI inflow in the Czech Republic and Hungary was mainly the result of capital in transit and financial flows not resulting in fixed investments. The decline in the SEE countries was 22% following a relatively successful year and caused by a one-time capital withdrawal from Serbia. Inflows to the CIS remained flat (+1%) and were strongly biased upwards by round-tripping Russian capital. FDI inflows declined in twelve CESEE countries, in line with the generally depressed business sentiment and unimpressive economic growth. The latter is even more reflected in the low number of greenfield investment projects and in their small size. Forecasts for economic growth in 2013 and first quarter trends in FDI flows and greenfield projects suggest a serious setback of FDI in most CESEE countries, with the possible exceptions of Poland, Slovenia and Kazakhstan. As another main cause, it is expected that Russian companies will be more reluctant and also restricted to use Cyprus as a stepping stone for investments at home thus both the outflow and inflow of Russian FDI is expected to diminish. The second part of this report contains two sets of tables Tables I cover FDI flow and stock data, FDI flows by components and related income; Tables II provide detailed FDI data by economic activity and country. The main sources of data are the central banks of the individual Central, East and Southeast European countries. The wiiw FDI Report is the new title of the former publication ‘wiiw Database on Foreign Direct Investment in Central, East and Southeast Europe’. The printed report and the analysis therein is based upon the wiiw FDI Database which will be available online from July 2013. Examples Table of contents (PDF) � NEW SERVICE The wiiw FDI Database is available online from July 2013 This new online access with a modern query tool supports easy search and download of data. The wiiw FDI Database contains the full set of FDI data with time series starting form 1990 as far as available. Access to wiiw FDI Database � |
Keywords: | foreign direct investment, balance of payments, income repatriation, statistics, new EU Member States, Southeast Europe, CIS |
JEL: | C82 F21 O57 P23 |
Date: | 2013–06 |
URL: | http://d.repec.org/n?u=RePEc:wii:fdirep:fdi:2013-06&r=tra |
By: | Loechel, Horst; Packham, Natalie; Walisch, Fabian |
Abstract: | As part of its effort to internationalize the Renminbi, China's government has promoted the establishment of a regulated offshore Renminbi capital market hub in Hong Kong, where, among other activities, it issues RMB-denominated government bonds providing foreign investors access to Chinese bond markets. In a VAR model where yield curves are represented by Nelson-Siegel latent factors and which includes macroeconomic variables, we find that onshore government bond yields are primarily driven by policy-related factors such as the policy rate and money supply, whereas offshore government bond yields are additionally driven by market-related factors such as consumer confidence, GDP and FX rate expectations as well as liquidity constraints. At the current stage of market development there are virtually no spillover effects between the onshore and offshore government bond curves. Our results add quantitative evidence that China's efforts to internationalize its currency results in a simultaneous liberalization of its financial system. -- |
Keywords: | Chinese government bond yields,Chinese offshore market,RMB,Hong Kong |
JEL: | E43 E47 E63 G18 |
Date: | 2013 |
URL: | http://d.repec.org/n?u=RePEc:zbw:fsfmwp:202&r=tra |
By: | Mehlum, Halvor (Dept. of Economics, University of Oslo); Torsvik, Ragnar (Norwegian University of Science and Technology); Valente, Simone (Norwegian University of Science and Technology) |
Abstract: | China's growth is characterized by massive capital accumulation, made possible by high and increasing domestic savings. In this paper we develop a model with the aim of explaining why savings rates have been high and increasing, and we investigate the general equilibrium effects on capital accumulation and growth. We show that increased savings and capital accumulation stimulates further savings and capital accumulation, through an intergenerational distribution effect and an old-age requirement effect. We introduce what we term the savings multiplier, and we discuss why and how the one-child policy, and the dismantling of the cradle-to-grave social benefits provided through the state owned enterprises, have stimulated savings and capital accumulation. |
Keywords: | China; One-child policy; Overlapping generations; Growth; Savings |
JEL: | D91 E21 O11 |
Date: | 2013–07–04 |
URL: | http://d.repec.org/n?u=RePEc:hhs:osloec:2013_017&r=tra |
By: | Jia, Ruixue; Kudamatsu, Masayuki; Seim, David |
Abstract: | Who becomes a top politician in China? We focus on provincial leaders, a pool of candidates for top political office, and examine how their chance of being promoted depends on performance - measured by provincial economic growth - and connections with top politicians - measured by past joint work in the same branch of government. A simple theoretical framework suggests that performance and connections may interact, an aspect ignored in the previous literature. Over the period 1993-2009, we find a positive correlation between promotion and growth that is robustly stronger for connected provincial leaders than for unconnected ones. This evidence indicates that performance and connections are complements in the Chinese political selection process. Auxiliary evidence suggests that the documented promotion pattern does not distort the allocation of talent. |
Keywords: | Chinese provincial leaders; political selection in autocracy; promotion; social networks |
JEL: | O53 P26 |
Date: | 2013–06 |
URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:9523&r=tra |
By: | Toman Omar Mahmoud; Hillel Rapoport; Andreas Steinmayr; Christoph Trebesch |
Abstract: | Migration contributes to the circulation of goods, knowledge, and ideas. Using community and individual-level data from Moldova, we show that the Emigration episode that started in the late 1990s strongly affected political preferences and electoral outcomes in Moldova during the following decade and was eventually instrumental in bringing down the last ruling Communist government in Europe. Our results are suggestive of information transmission and cultural diffusion channels. Identification relies on the quasi-experimental context studied and on the differential effects arising from the fact that emigration was directed both to more democratic Western Europe and to less democratic Russia |
Keywords: | Emigration, political institutions, elections, social networks, Information transmission, cultural diffusion |
JEL: | F22 D72 O1 |
Date: | 2013–08 |
URL: | http://d.repec.org/n?u=RePEc:kie:kieliw:1869&r=tra |
By: | Il Houng Lee; Murtaza H. Syed; Liu Xueyan |
Abstract: | This paper proposes a possible framework for identifying excessive investment. Based on this method, it finds evidence that some types of investment are becoming excessive in China, particularly in inland provinces. In these regions, private consumption has on average become more dependent on investment (rather than vice versa) and the impact is relatively short-lived, necessitating ever higher levels of investment to maintain economic activity. By contrast, private consumption has become more self-sustaining in coastal provinces, in large part because investment here tends to benefit household incomes more than corporates. If existing trends continue, valuable resources could be wasted at a time when China’s ability to finance investment is facing increasing constraints due to dwindling land, labor, and government resources and becoming more reliant on liquidity expansion, with attendant risks of financial instability and asset bubbles. Thus, investment should not be indiscriminately directed toward urbanization or industrialization of Western regions but shifted toward sectors with greater and more lasting spillovers to household income and consumption. In this context, investment in agriculture and services is found to be superior to that in manufacturing and real estate. Financial reform would facilitate such a reorientation, helping China to enhance capital efficiency and keep growth buoyant even as aggregate investment is lowered to sustainable levels. |
Keywords: | Investment;China;Economic growth;Private consumption;China, Investment, Rebalancing, Regional Economics |
Date: | 2013–03–29 |
URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:13/83&r=tra |
By: | Irina Dezhina (Gaidar Institute for Economic Policy) |
Abstract: | The past year was marked by the alteration of former trends and priorities following the change of the President and the Government. State policies for supporting science came to the fore while the encouragement of innovative activities and technological development lost in the frequency of its mentioning in the official documents. The switching of priorities was also reflected in the way consultative bodies were restructured. |
Keywords: | Russian economy, science, innovations, education institutions |
JEL: | O31 O32 O38 I21 I22 I23 I24 |
Date: | 2013 |
URL: | http://d.repec.org/n?u=RePEc:gai:ppaper:161&r=tra |
By: | Min Zhu (GATE Lyon Saint-Etienne - Groupe d'analyse et de théorie économique - CNRS : UMR5824 - Université Lumière - Lyon II - École Normale Supérieure - Lyon) |
Abstract: | This paper justifies the evolution of the college admissions system in China from a mechanism design perspective. The sequential choice algorithm and the parallel choice algorithm used in the context of China's college admissions system are formulated as the well-studied Boston mechanism and the Simple Serial Dictatorship mechanism. We review both theoretical and experimental mechanism design literature in similar assignment problems. Studies show that the Boston mechanism does not eliminate justified envy, is not strategy-proof and is not Pareto-efficient. The Simple Serial Dictatorship mechanism eliminates justified envy, is strategy-proof and is Pareto-efficient, thus outperforming the Boston mechanism in all three criteria. This result provides justification for the transition in recent years from the sequential choice algorithm to the parallel choice algorithm in China's college admissions practices. |
Keywords: | college admissions in China, mechanism design, experiment |
Date: | 2013–09–11 |
URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-00860931&r=tra |
By: | Shing-Yi Wang |
Abstract: | This paper examines whether an individual-level transfer of property rights increases the individual's bargaining power within the household. The question is analyzed in the context of a housing reform that occurred in China that gave existing tenants the opportunity to purchase the homes that they had been renting from their state employers. The rights to each housing unit were granted to a particular employee, so property rights were defined at the individual level rather than the household level. The results indicate that transferring ownership rights to men increased household consumption of some male-favored goods and women's time spent on chores. Transferring ownership rights to women decreased household consumption of some male-favored goods. |
JEL: | O1 |
Date: | 2013–09 |
URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:19427&r=tra |
By: | Lasha Labadze; Mirian Tukhashvili |
Abstract: | This study provides an analysis of the costs and benefits of emigration for Georgia, with an emphasis on emigration to the EU. In the concluding section we dwell on the consequences of a possible liberalization of EU migration policies with regard to Eastern Partnership (EaP) countries, and how such a policy change would affect the flow and composition of migration from Georgia to the EU. The study estimates the costs and benefits of migration through the prism of recent economics developments in Georgia and in particular the sweeping liberalization reforms of recent years. While Georgia remains a poor country, its geopolitical position as a Western outpost in the Caucasus and Central Asian region, its role as a key trade and transportation hub, the superior quality of its bureaucracy, lack of corruption, etc., provide a very different context for migration processes, turning migration into a circular phenomenon, a major factor in modernizing the Georgian economy, society, and politics. The EU should give due consideration to this phenomenon as it (re)considers its policy on migration with regard to Georgia and, potentially, other EaP countries. |
Keywords: | Labour Economics, Labour Markets, Labour Mobility, Georgia |
JEL: | D78 F22 F24 I25 J01 J15 J40 J61 J83 |
Date: | 2013–09 |
URL: | http://d.repec.org/n?u=RePEc:sec:cnstan:0463&r=tra |
By: | Anton Cheremukhin; Mikhail Golosov; Sergei Guriev; Aleh Tsyvinski |
Abstract: | This paper studies structural transformation of Soviet Russia in 1928-1940 from an agrarian to an industrial economy through the lens of a two-sector neoclassical growth model. We construct a large dataset that covers Soviet Russia during 1928-1940 and Tsarist Russia during 1885-1913. We use a two-sector growth model to compute sectoral TFPs as well as distortions and wedges in the capital, labor and product markets. We find that most wedges substantially increased in 1928-1935 and then fell in 1936-1940 relative to their 1885-1913 levels, while TFP remained generally below pre-WWI trends. Under the neoclassical growth model, projections of these estimated wedges imply that Stalin's economic policies led to welfare loss of -24 percent of consumption in 1928-1940, but a +16 percent welfare gain after 1941. A representative consumer born at the start of Stalin's policies in 1928 experiences a reduction in welfare of -1 percent of consumption, a number that does not take into account additional costs of political repression during this time period. We provide three additional counterfactuals: comparison with Japan, comparison with the New Economic Policy (NEP), and assuming alternative post-1940 growth scenarios. |
JEL: | E6 N23 N24 O4 O41 |
Date: | 2013–09 |
URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:19425&r=tra |
By: | Popovic, Milenko |
Abstract: | The topic of this paper is an analysis of the growth of the Serbian economy. The paper is primarily devoted to the analysis of the sources of growth of the Serbian economy. In this regard, apart from conventional decomposition of growth (into contributions of capital, labor, and total factor productivity), the demand side and the industry composition sides of the sources-of-growth analysis are also considered. Furthermore, on the basis of these results, the reserves for further growth of the gross domestic product per capita are identified and estimated. Special attention is given to a possible increase in the total factor productivity, induced by the advance in “broader knowledge”, and to an increase in the labor participation rate. Institutional and policy prerequisites for realization of these reserves of growth are also briefly analyzed. Finally, on the basis of different assumptions regarding magnitudes of realization of these reserves, future convergence of the Serbian economy toward E15 and E27 countries is given. |
Keywords: | sources of growth, growth reserves, convergence |
JEL: | O40 O43 O47 |
Date: | 2013–03–05 |
URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:49773&r=tra |
By: | Wintrobe , Ronald (University of Western Ontario) |
Abstract: | In this paper I use my way of thinking about dictatorship, developed in my 1998 book, The Political Economy of Dictatorship, and elsewhere, to “model” the North Korean regime. Initially, under the Great Leader Kim Il Sung it was a simple totalitarian regime but the shocks of the 1990’s –the fall of Communism in Russia and Eastern Europe, the capitalist turn of China, the economic takeoff of South Korea and the succession crisis caused by Kim Il Sung’s death threatened the stability of that regime. Kim Jong Il shored up the regime by marrying it to the military. The instabilities and paradox associated with military rule were resolved through Kim Jong Il’s “military first politics” that is, to exaggerate only a little, by militarizing the entire society. This is the distinctive feature of the regime. I analyze the stability of that regime, and ask whether engagement or isolation is the best way for the rest of the world to deal with North Korea. I come down on the side of engagement, but am gloomy about the likely success of either policy in getting the regime to liberalize politically or economically. |
Keywords: | North Korea; Dictatorships |
Date: | 2013–09–11 |
URL: | http://d.repec.org/n?u=RePEc:ris:nepswp:2013_005&r=tra |
By: | Hua Wang (Euromed Marseille - École de management - Association Euromed Management - Marseille); Chris Kimble (Euromed Marseille - École de management - Association Euromed Management - Marseille, MRM - Montpellier Recherche en Management - Université Montpellier II - Sciences et techniques : EA4557 - Université Montpellier I - Université Paul Valéry - Montpellier III - Groupe Sup de Co Montpellier (GSCM) - Montpellier Business School) |
Abstract: | History provides numerous examples of incumbent market leaders being leapfrogged by newcomers that have exploited the opportunities offered by new technologies. In light of the growing number of ecological threats linked to the use of the internal combustion engine, can Chinese auto manufacturers, which are newcomers to the industry, beat out the established Japanese, European, and North American automakers in the race to produce a less environmentally damaging form of transport? Three case studies from the Chinese automobile industry reveal the different ways in which this leapfrogging might take place and highlight the impact that such developments might have on automobile manufacturers in Japan and the West, both for conventional and electric vehicles. |
Keywords: | china; Leapfrogging; catching-up; Automobile Industry; Innovation |
Date: | 2013–08–23 |
URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-00859483&r=tra |
By: | Wolfgang Dauth; Sebastian Findeisen; Jens Suedekum |
Abstract: | We analyze the effects of the unprecedented rise in trade between Germany and “the East” – China and Eastern Europe – in the period 1988 – 2008 on German local labor markets. Using detailed administrative data, we exploit the cross-regional variation in initial industry structures and use trade flows of other high-income countries as instruments for regional import and export exposure. We find that the rise of “the East” in the world economy caused substantial job losses in German regions specialized in import-competing industries, both in manufacturing and beyond. Regions specialized in export-oriented industries, however, experienced even stronger employment gains and lower unemployment. In the aggregate, we estimate that this trade integration has caused some 493,000 additional jobs in the economy and contributed to retaining the manufacturing sector in Germany. We also conduct our analysis at the individual worker level, and find that trade had a stabilizing overall effect on employment relationships. |
Keywords: | International trade, import competition, export opportunities, local labor markets, employment, China, Eastern Europe, Germany |
JEL: | F16 J31 R11 |
Date: | 2013–08 |
URL: | http://d.repec.org/n?u=RePEc:zur:uceswp:003&r=tra |
By: | Nguyen, Van Phuong; Mergenthaler, Marcus |
Abstract: | This study relates social-demographic characteristics of Vietnamese households to their consumption of meat. Tobit models are estimated drawing on the latest Vietnamese Household Living Standard Survey in 2010 (VHLSS 2010). The analysis of demand for pork and poultry in Vietnamese households demonstrates that the meat demand in Vietnam is significantly affected by socio-economic and geographic factors. |
Keywords: | Vietnam, meat consumption, household consumption, tobit model, VHLSS, Consumer/Household Economics, Food Consumption/Nutrition/Food Safety, Marketing, |
Date: | 2013 |
URL: | http://d.repec.org/n?u=RePEc:ags:gewi13:156223&r=tra |
By: | Drobot, Elena; Shlepova, Kristina; Lisyanskay, Victoria; Prohorenko, Valeria; Eugene, Legatov |
Abstract: | The research work contains analisys of migration processes in Leningrad region and Vyborg. It also contains results of sociological head count of local population attitude towards migrants. |
Keywords: | Миграция, толерантность, Концепция государственной миграционной политики |
JEL: | J61 J68 J71 J78 |
Date: | 2013–09–09 |
URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:49645&r=tra |