Comparative Economic Studies最新文献

This paper explores the multidimensional deprivation from labor market opportunities in Armenia by constructing a Quality of Employment measure. Using Labor Force Survey datasets for the years 2018 and 2020, we conduct a comparative analysis for a group of job-separated individuals. The identified dimensions of deprivation from labor market opportunities prior to and after the onset of COVID-19 are reasons for separating from a job, reasons for not looking for a job, and main obstacles in finding a job. These dimensions enable to study employee-level (supply factors) and job-related characteristics (demand factors). Our study shows that demand factors are the primary drivers of amplified deprivation in times of the pandemic. Also, we observe that the gender gap in the labor market deprivation has been increased during the pandemic, further amplified for married women. Interestingly, gender gap in deprivation is invariant to the occupational composition.

Despite numerous efforts by policymakers, trade among African countries remains abysmal. In this paper, we investigate whether democracy influences intra-Africa trade of goods. Using the gravity model on bilateral trade among 48 Sub-Sahara African countries over the period 2000 to 2018, we find that democracy fosters intra-Africa goods trade. This effect is more pronounced in the manufacturing sector. Reversals to autocracy, however, adversely impact intra-Africa trade flows. Our paper therefore highlights democratic development as an important channel for accelerating trade among African countries.

We compare the economic growth performance of Belarus and Lithuania since the collapse of the Soviet Union in 1991. Our interest in this country pair is driven by the two countries' interwoven history as well as by the fact that Belarus remains autocratic and strongly tied to Russia, while Lithuania has reinvented herself as a democratic market economy fully integrated into the EU. Our aim is to understand better the extent to which the growth differential between the two countries can be traced to increased efficiency, i.e., total factor productivity, in the use of capital and other resources via, inter alia, better institutions (intensive growth) as opposed to sheer accumulation of capital (extensive growth), the hallmark of Soviet economic growth. To this end, we compare the development of some key determinants of growth in the two countries since the 1990s. Employing a simple growth accounting model we find that institutional reforms, open and transparent governance, and good education play a more important role for output and efficiency than crude capital accumulation. Hence Lithuania does better than Belarus, which remains marred by problems related to weak governance as well as autocratic rule. As in Estonia and Latvia we find that the EU perspective made a significant contribution to growth in Lithuania. The Russian connection has done less for Belarus. At last, we also touch upon the impact of the corona virus on the economies of the two countries.

In this paper, we examine the consequences of populist government for long-term economic growth and development. To this end, we estimate the long-term growth impact of the Juan Péron's political rule in Argentina, which led to a comprehensive overhaul of the institutional framework laid by the Argentine founding fathers in the 1853 Constitution. Our hypothesis is that the progressive substitution of a growth-enhancing institutional framework by exclusionary growth-distorting frameworks explains Argentina's economic decline from one the world's richest countries on the eve of World War I to an underdeveloped nation in the present day. We emphasize the erosion of the rule of law and restraint of economic freedom during Perón's first government (1943-1955) as two fundamental coadjutant causes of Argentina's decline. The populist legal reforms of Perón had long-lasting adverse economic effects. By comparing Argentina's pre-Péron growth trajectory with a donor pool of 58 countries for the period 1860-2015, we estimate the counterfactual scenario without Péron's reforms. A variety of synthetic control estimates uncover substantial negative effects of the weakening of the rule of law and the populist reforms that began in 1940s on the trajectory of economic growth and development. The populist overhaul negated the economic growth advantages inherent in the 1853 Alberdian constitution. Without the short-sighted populist Peron episodes, Argentina would be a rich country down to the present day with per capita income comparable to southern European countries. We also perform a series of randomization inferences and a battery of placebo analyses, which confirm our results.

Supplementary information: The online version contains supplementary material available at 10.1057/s41294-022-00193-4.

This paper traces the survival status of 93,260 Russian business firms in the period of 2007-2019 and empirically examines the determinants of the acquisition of financially distressed companies (i.e., distressed acquisitions). We found that, of 93,260 firms, 50,743 failed in management, and among these distressed firms, 10,110 were rescued by acquisition during the observation period. Our empirical results indicate that, in Russian regions, the weakness of the legal system tends to increase the probability of distressed acquisitions, while other socioeconomic risks negatively affect it. These tendencies are common in most industries and regions. It is also revealed that, in the most-developed area, monotown enterprises are more likely than other firms to be bailed out by acquisition after management failure, but it is not always true for the whole federation.