Influential studies depict propaganda as a heavy-handed tool with limited persuasive power. By contrast, we argue that propaganda can effectively manipulate emotions and cause durable changes in nationalist attitudes. We conduct a series of experiments in which we expose over 6,800 respondents in China to propaganda videos drawn from state-run newscasts, television dramas, and state-backed social media accounts, each containing nationalist messages favored by the Chinese Communist Party. Exposure to nationalist propaganda increases anger as well as anti-foreign sentiment and behavior, with heightened anti-foreign attitudes persisting up to a week, even after anger has cooled. However, we find that nationalist propaganda has no effect on perceptions of Chinese government performance or self-reported willingness to protest against the state. Our findings suggest that nationalist propaganda can manipulate emotions and anti-foreign sentiment, but does not necessarily divert attention from domestic political grievances.
{"title":"How Propaganda Manipulates Emotion to Fuel Nationalism: Experimental Evidence from China","authors":"Daniel C. Mattingly, Elaine Yao","doi":"10.2139/ssrn.3514716","DOIUrl":"https://doi.org/10.2139/ssrn.3514716","url":null,"abstract":"Influential studies depict propaganda as a heavy-handed tool with limited persuasive power. By contrast, we argue that propaganda can effectively manipulate emotions and cause durable changes in nationalist attitudes. We conduct a series of experiments in which we expose over 6,800 respondents in China to propaganda videos drawn from state-run newscasts, television dramas, and state-backed social media accounts, each containing nationalist messages favored by the Chinese Communist Party. Exposure to nationalist propaganda increases anger as well as anti-foreign sentiment and behavior, with heightened anti-foreign attitudes persisting up to a week, even after anger has cooled. However, we find that nationalist propaganda has no effect on perceptions of Chinese government performance or self-reported willingness to protest against the state. Our findings suggest that nationalist propaganda can manipulate emotions and anti-foreign sentiment, but does not necessarily divert attention from domestic political grievances.","PeriodicalId":443031,"journal":{"name":"Political Economy - Development: Political Institutions eJournal","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-01-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115482010","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-12-30DOI: 10.34218/ijm.10.6.2019.027
Puja Dua, Dr. Namita Sahay, Dr O S Deol
Bancassurance is a relationship between a bank and an insurance company that aims to provide customers of the bank with insurance products or insurance benefits. The objective of the research paper is to provide an overview of Bancassurance products & schemes launched by the government and the private banks to contribute towards the financial inclusion of the nation. The authors furthermore discussed and provides the details of various schemes launched by government such as Life Cover under Pradhan Mantri Jan Dhan Yojana (PMJDY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Vaya Vandana Yojana (PMVVY), Pradhan Mantri Fasal Bima Yojana (PMFBY), and other such schemes. The methodology adopted for the research is to review the published articles and the reports and to summarise the significance and the importance of the bancassurance towards the financial inclusion of the country. The finding of the study concluded that the bancassurance schemes launched by the government of India and the schemes run by the private banks to increase the bancassurance percentage in the country are having significant positive results. There are still the number of issues needs to be addressed to achieve the 100% financial inclusion in the country.
{"title":"An Overview and Significance of Different Bancassurance Schemes Launched for Financial Inclusion in India","authors":"Puja Dua, Dr. Namita Sahay, Dr O S Deol","doi":"10.34218/ijm.10.6.2019.027","DOIUrl":"https://doi.org/10.34218/ijm.10.6.2019.027","url":null,"abstract":"Bancassurance is a relationship between a bank and an insurance company that aims to provide customers of the bank with insurance products or insurance benefits. The objective of the research paper is to provide an overview of Bancassurance products & schemes launched by the government and the private banks to contribute towards the financial inclusion of the nation. The authors furthermore discussed and provides the details of various schemes launched by government such as Life Cover under Pradhan Mantri Jan Dhan Yojana (PMJDY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Vaya Vandana Yojana (PMVVY), Pradhan Mantri Fasal Bima Yojana (PMFBY), and other such schemes. The methodology adopted for the research is to review the published articles and the reports and to summarise the significance and the importance of the bancassurance towards the financial inclusion of the country. The finding of the study concluded that the bancassurance schemes launched by the government of India and the schemes run by the private banks to increase the bancassurance percentage in the country are having significant positive results. There are still the number of issues needs to be addressed to achieve the 100% financial inclusion in the country.<br>","PeriodicalId":443031,"journal":{"name":"Political Economy - Development: Political Institutions eJournal","volume":"33 ","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114095167","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper explores the impact of bank-specific and macroeconomic variables, including the 2015-2018 Chinese stock market crash, on bank performance (ROA) of Conventional and Islamic banks in Malaysia, during the 9-year period (2010 to 2018). For this purpose, 5 Conventional and Islamic banks were selected based on Moody’s investor service and BNM statistics. The Empirical data for the banks was retrieved from individual annual reports and the Malaysian Department of Statistics. This paper performs a multiple linear regression analysis, and Pearson’s correlation (r) test to determine significance of each variable with bank’s Return on Assets (ROA), as a measure of profitability. The specific variables tested include Total deposits, Non-performing Loans, Noninterest income, Gender diversification in the board, while macroeconomic variables include Interest rate, Inflation, GDP and the 2015 China Stock Market Crash. The results concluded that Total deposits have a positive impact on bank profitability for conventional banks, while Noninterest income increases profitability for Islamic banks. Non-performing loans was found to have a significant negative relationship with bank profitability for both Islamic and conventional systems. None of the macroeconomic variables impacted Malaysia’s bank profitability for this time period, including the China stock market crash. Islamic banks were deemed better performing than Conventional banks, achieving a higher ROA throughout the time period analysed. The findings of this study can aid Malaysian banks, their investors and shareholders, as well as policymakers and the government in deciding initiatives to maximise banks performance, especially to fulfil Bank Negara Malaysia’s Banks Business Plan (BP) objectives in the coming decade.
{"title":"A Comparative Performance Analysis of Islamic and Conventional Banks in Malaysia (2010- 2018)","authors":"Sanah Inayat Kassam, Navaz Naghavi","doi":"10.2139/ssrn.3551810","DOIUrl":"https://doi.org/10.2139/ssrn.3551810","url":null,"abstract":"This paper explores the impact of bank-specific and macroeconomic variables, including the 2015-2018 Chinese stock market crash, on bank performance (ROA) of Conventional and Islamic banks in Malaysia, during the 9-year period (2010 to 2018). For this purpose, 5 Conventional and Islamic banks were selected based on Moody’s investor service and BNM statistics. The Empirical data for the banks was retrieved from individual annual reports and the Malaysian Department of Statistics. This paper performs a multiple linear regression analysis, and Pearson’s correlation (r) test to determine significance of each variable with bank’s Return on Assets (ROA), as a measure of profitability. The specific variables tested include Total deposits, Non-performing Loans, Noninterest income, Gender diversification in the board, while macroeconomic variables include Interest rate, Inflation, GDP and the 2015 China Stock Market Crash. The results concluded that Total deposits have a positive impact on bank profitability for conventional banks, while Noninterest income increases profitability for Islamic banks. Non-performing loans was found to have a significant negative relationship with bank profitability for both Islamic and conventional systems. None of the macroeconomic variables impacted Malaysia’s bank profitability for this time period, including the China stock market crash. Islamic banks were deemed better performing than Conventional banks, achieving a higher ROA throughout the time period analysed. The findings of this study can aid Malaysian banks, their investors and shareholders, as well as policymakers and the government in deciding initiatives to maximise banks performance, especially to fulfil Bank Negara Malaysia’s Banks Business Plan (BP) objectives in the coming decade.","PeriodicalId":443031,"journal":{"name":"Political Economy - Development: Political Institutions eJournal","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-12-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124011925","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The policy contribution aims to overcome the unfertile debate that opposes the notions of risk-sharing and risk reduction, by examining the concepts of economic solidarity and responsibility, with a particular focus on the Banking Union and some of its unresolved crisis management issues. The contribution adopts a money-centric view on banking, which highlights the interconnectedness between monetary policy design and the banking sector, arguing that both principles of solidarity and responsibility are interconnected and must, therefore, be included in the architecture of the EU’s financial system. The empirical review comparatively examines the EU and US cases in order to draw concrete lessons from them. The contribution concludes by briefly proposing the enhancement of a solidarity dimension in the Banking Union design.
{"title":"Unravelling Economic Solidarity: A Systemic View on Risk-Sharing in the European Banking Sector","authors":"Y. Biondi, C. del Barrio","doi":"10.2139/ssrn.3491186","DOIUrl":"https://doi.org/10.2139/ssrn.3491186","url":null,"abstract":"The policy contribution aims to overcome the unfertile debate that opposes the notions of risk-sharing and risk reduction, by examining the concepts of economic solidarity and responsibility, with a particular focus on the Banking Union and some of its unresolved crisis management issues. The contribution adopts a money-centric view on banking, which highlights the interconnectedness between monetary policy design and the banking sector, arguing that both principles of solidarity and responsibility are interconnected and must, therefore, be included in the architecture of the EU’s financial system. The empirical review comparatively examines the EU and US cases in order to draw concrete lessons from them. The contribution concludes by briefly proposing the enhancement of a solidarity dimension in the Banking Union design.","PeriodicalId":443031,"journal":{"name":"Political Economy - Development: Political Institutions eJournal","volume":"300 2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-11-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130045340","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Corporate governance is the framework by which the various stakeholder interests are balanced or the relationships among the management, board of directors, and others are monitored. It is argued that lack of good corporate governance in banks is responsible for excessive risk taking and irresponsible lending that often result in huge non-performing loans and the erosion of shareholders funds. Studies show that almost 60 percent of failed banks had board members who either lacked banking knowledge or were uninformed and passive regarding supervision of their banks affairs. It is suggested that a strong bank managing director and a weak board of directors are a recipe for weak corporate governance. Weak corporate governance became a major global concern of banks before and after the global financial crisis between 2007 and 2009 for bank management. Despite the difficult times banks that embraced the basic principles of good corporate governance continued to make profit and growing stronger today. Nigeria that was not isolated from the global financial tsunami boasts of its oldest bank that prides itself in banking excellence based on strong corporate governance ethics. The survey research design was used for the study. Data generated were organized before they were analyzed. Based on the analysis of data, it was found that corporate governance has strong positive relationship with bank profitability.
{"title":"Corporate Governance and Bank Profitability: Lessons From Nigeria","authors":"J. Ugoani, Grace Ibeenwo","doi":"10.2139/ssrn.3485466","DOIUrl":"https://doi.org/10.2139/ssrn.3485466","url":null,"abstract":"Corporate governance is the framework by which the various stakeholder interests are balanced or the relationships among the management, board of directors, and others are monitored. It is argued that lack of good corporate governance in banks is responsible for excessive risk taking and irresponsible lending that often result in huge non-performing loans and the erosion of shareholders funds. Studies show that almost 60 percent of failed banks had board members who either lacked banking knowledge or were uninformed and passive regarding supervision of their banks affairs. It is suggested that a strong bank managing director and a weak board of directors are a recipe for weak corporate governance. Weak corporate governance became a major global concern of banks before and after the global financial crisis between 2007 and 2009 for bank management. Despite the difficult times banks that embraced the basic principles of good corporate governance continued to make profit and growing stronger today. Nigeria that was not isolated from the global financial tsunami boasts of its oldest bank that prides itself in banking excellence based on strong corporate governance ethics. The survey research design was used for the study. Data generated were organized before they were analyzed. Based on the analysis of data, it was found that corporate governance has strong positive relationship with bank profitability.","PeriodicalId":443031,"journal":{"name":"Political Economy - Development: Political Institutions eJournal","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-11-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123769661","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Studying the dynamics of deposits is important for three reasons: first, it serves as an important component of liquidity stress testing; second, it is crucial to asset-liability management exercises and the allocation between liquid and illiquid assets; third, it is the support for a liquidity at risk (LaR) methodology.
Current models are based on AR(1) processes that often underestimate liquidity risk. Thus a bank relying on those models may face failure in an event of crisis. We propose a novel approach for modeling deposits, using panel data and a momentum term. The model enables the simulation of a variety of deposit trajectories, including episodes of financial distress, showing much higher drawdowns and realistic liquidity at risk estimates, as well as density plots that present a wide range of possible values, corresponding to booms and financial crises.
Therefore, this methodology is more suitable for liquidity management at banks, as well as for conducting liquidity stress tests.
{"title":"Cross-Sectional Modeling of Bank Deposits","authors":"Sofia Costa, M. Faias, Pedro Júdice, P. Mota","doi":"10.2139/ssrn.3505393","DOIUrl":"https://doi.org/10.2139/ssrn.3505393","url":null,"abstract":"Studying the dynamics of deposits is important for three reasons: first, it serves as an important component of liquidity stress testing; second, it is crucial to asset-liability management exercises and the allocation between liquid and illiquid assets; third, it is the support for a liquidity at risk (LaR) methodology. <br><br>Current models are based on AR(1) processes that often underestimate liquidity risk. Thus a bank relying on those models may face failure in an event of crisis. We propose a novel approach for modeling deposits, using panel data and a momentum term. The model enables the simulation of a variety of deposit trajectories, including episodes of financial distress, showing much higher drawdowns and realistic liquidity at risk estimates, as well as density plots that present a wide range of possible values, corresponding to booms and financial crises.<br><br>Therefore, this methodology is more suitable for liquidity management at banks, as well as for conducting liquidity stress tests.","PeriodicalId":443031,"journal":{"name":"Political Economy - Development: Political Institutions eJournal","volume":"53 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130596823","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Regulators generally have tried to address the problems posed by the excessive risk-taking of Systemically Important Financial Institutions (SIFIs) by placing restrictions on the activities in which SIFIs engage. However, the complexity of these institutions makes such attempts necessarily imperfect. This article proposes to address the problem at its very source, which is the incentives that SIFI owners have to push for excessive risk-taking by managers. Building on the traditional rule of “double liability,” we propose to modify the current (general) rule limiting the liability of SIFI shareholders to the amount of their initial investments in such companies. We propose replacing the extant limited liability regime with a new system that imposes additional liability over and above what SIFI shareholders already have invested in a pre-set amount that varies with a SIFI’s centrality in the financial network. Our liability regime has a number of advantages. First, by increasing shareholder exposure to downside risk, it discourages excessive risk-taking. At the same time, by placing a clearly defined ceiling on shareholders’ total liability exposure, it will not obliterate shareholders’ incentives to invest in the first place. Second, the liability to which shareholders are exposed is carefully tailored to the level of systemic risk that their institution creates. Thus, our rule induces shareholders to account for the negative externality SIFIs can impose without unduly stifling such financial institutions’ role within the financial system and in the wider economy. Third, as the amount of liability is clearly defined ex ante using the rigorous tools of network theory, our rule minimizes the influence of interest groups and the impact of idiosyncratic government decisions. Last, as markets know in advance the amount of liability to which shareholders are exposed, our rule favors the creation of a vibrant insurance and derivative market so that the risk of SIFIs defaults can be allocated to those who can better bear it.
{"title":"Extended Shareholder Liability for Systemically Important Financial Institutions","authors":"A. Romano, L. Enriques, J. Macey","doi":"10.2139/ssrn.3475828","DOIUrl":"https://doi.org/10.2139/ssrn.3475828","url":null,"abstract":"Regulators generally have tried to address the problems posed by the excessive risk-taking of Systemically Important Financial Institutions (SIFIs) by placing restrictions on the activities in which SIFIs engage. However, the complexity of these institutions makes such attempts necessarily imperfect. This article proposes to address the problem at its very source, which is the incentives that SIFI owners have to push for excessive risk-taking by managers. Building on the traditional rule of “double liability,” we propose to modify the current (general) rule limiting the liability of SIFI shareholders to the amount of their initial investments in such companies. We propose replacing the extant limited liability regime with a new system that imposes additional liability over and above what SIFI shareholders already have invested in a pre-set amount that varies with a SIFI’s centrality in the financial network. Our liability regime has a number of advantages. First, by increasing shareholder exposure to downside risk, it discourages excessive risk-taking. At the same time, by placing a clearly defined ceiling on shareholders’ total liability exposure, it will not obliterate shareholders’ incentives to invest in the first place. Second, the liability to which shareholders are exposed is carefully tailored to the level of systemic risk that their institution creates. Thus, our rule induces shareholders to account for the negative externality SIFIs can impose without unduly stifling such financial institutions’ role within the financial system and in the wider economy. Third, as the amount of liability is clearly defined ex ante using the rigorous tools of network theory, our rule minimizes the influence of interest groups and the impact of idiosyncratic government decisions. Last, as markets know in advance the amount of liability to which shareholders are exposed, our rule favors the creation of a vibrant insurance and derivative market so that the risk of SIFIs defaults can be allocated to those who can better bear it.","PeriodicalId":443031,"journal":{"name":"Political Economy - Development: Political Institutions eJournal","volume":"62 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114534094","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
There is little causal evidence about deep-rooted sources of support for shifting power from nation-states to international organizations. Focusing on the European Union, this paper develops the hypothesis that citizens appreciate the role of international organizations in constraining member-states the more, the more negatively their region was historically affected by the actions of nation-states. For identification, I use the historically homogeneous regions of Alsace and Lorraine in France as a natural experiment. A municipal level geographical regression discontinuity design documents that more negative exposure led to persistently higher EU support in three important referenda and less success of Eurosceptic parties in parliamentary elections. This effect is not driven by linguistic differences, migration, socio-economic factors or public good provision, but linked to a stronger European identity. This stronger identity is neither explained by perceived economic benefits, nor comes at the expense of a weaker national or regional identity.
{"title":"Overcoming History through International Organizations – Historical Roots of EU Support and Euroscepticism","authors":"Kai Gehring","doi":"10.2139/ssrn.3454228","DOIUrl":"https://doi.org/10.2139/ssrn.3454228","url":null,"abstract":"There is little causal evidence about deep-rooted sources of support for shifting power from nation-states to international organizations. Focusing on the European Union, this paper develops the hypothesis that citizens appreciate the role of international organizations in constraining member-states the more, the more negatively their region was historically affected by the actions of nation-states. For identification, I use the historically homogeneous regions of Alsace and Lorraine in France as a natural experiment. A municipal level geographical regression discontinuity design documents that more negative exposure led to persistently higher EU support in three important referenda and less success of Eurosceptic parties in parliamentary elections. This effect is not driven by linguistic differences, migration, socio-economic factors or public good provision, but linked to a stronger European identity. This stronger identity is neither explained by perceived economic benefits, nor comes at the expense of a weaker national or regional identity.","PeriodicalId":443031,"journal":{"name":"Political Economy - Development: Political Institutions eJournal","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-09-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116993086","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We study the cultural integration of immigrants, estimating a structural model of marital matching along ethnic dimensions, exploring in detail the role of fertility, and possibly divorce in the integration process. We exploit rich administrative demographic data on the universe of marriages formed in Italy, as well as birth and separation records from 1995 to 2012. We estimate strong preferences of ethnic minorities' towards socialization of children to their own identity, identifying marital selection and fertility choices as fundamental socialization mechanisms. The estimated cultural intolerance of Italians towards immigrant minorities is also substantial. Turning to long-run simulations, we find that cultural intolerances, as well as fertility and homogamy rates, slow-down the cultural integration of some immigrant ethnic minorities, especially Latin America, East Asia and Sub-Saharan Africa. Nonetheless, 75% of immigrants integrate into the majoritarian culture over the period of a generation. Interestingly, we show by counterfactual analysis that a lower cultural intolerance of Italians towards minorities would lead to slower cultural integration by allowing immigrants a more widespread use of their own language rather than Italian in heterogamous marriages. Finally, we quantitatively assess the effects of large future immigration inflows.
{"title":"Marriage, Fertility, and Cultural Integration in Italy","authors":"Alberto Bisin, Giulia Tura","doi":"10.3386/w26303","DOIUrl":"https://doi.org/10.3386/w26303","url":null,"abstract":"We study the cultural integration of immigrants, estimating a structural model of marital matching along ethnic dimensions, exploring in detail the role of fertility, and possibly divorce in the integration process. We exploit rich administrative demographic data on the universe of marriages formed in Italy, as well as birth and separation records from 1995 to 2012. We estimate strong preferences of ethnic minorities' towards socialization of children to their own identity, identifying marital selection and fertility choices as fundamental socialization mechanisms. The estimated cultural intolerance of Italians towards immigrant minorities is also substantial. Turning to long-run simulations, we find that cultural intolerances, as well as fertility and homogamy rates, slow-down the cultural integration of some immigrant ethnic minorities, especially Latin America, East Asia and Sub-Saharan Africa. Nonetheless, 75% of immigrants integrate into the majoritarian culture over the period of a generation. Interestingly, we show by counterfactual analysis that a lower cultural intolerance of Italians towards minorities would lead to slower cultural integration by allowing immigrants a more widespread use of their own language rather than Italian in heterogamous marriages. Finally, we quantitatively assess the effects of large future immigration inflows.","PeriodicalId":443031,"journal":{"name":"Political Economy - Development: Political Institutions eJournal","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132816176","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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