Pub Date : 2020-07-13DOI: 10.1080/17487870.2020.1760102
Shen Yang, B. Miao, Alfred M. Wu
ABSTRACT The paper investigates the puzzling phenomenon of why Hong Kong citizens have much lower support for increasing spending on social assistance when all other welfare programs have been favored by local residents. With a random sampling survey, we find that citizens’ support towards raising the requirement of immigration is negatively correlated with their support for social assistance (the CSSA scheme). This study highlights that the perception of “who benefits” will influence citizens’ support for welfare spending. The Hong Kong story enriches the debate about the impact of citizens’ attitudes towards immigration on welfare spending against a backdrop of deglobalization and anti-immigration.
{"title":"Immigration and public attitudes towards social assistance: evidence from Hong Kong","authors":"Shen Yang, B. Miao, Alfred M. Wu","doi":"10.1080/17487870.2020.1760102","DOIUrl":"https://doi.org/10.1080/17487870.2020.1760102","url":null,"abstract":"ABSTRACT The paper investigates the puzzling phenomenon of why Hong Kong citizens have much lower support for increasing spending on social assistance when all other welfare programs have been favored by local residents. With a random sampling survey, we find that citizens’ support towards raising the requirement of immigration is negatively correlated with their support for social assistance (the CSSA scheme). This study highlights that the perception of “who benefits” will influence citizens’ support for welfare spending. The Hong Kong story enriches the debate about the impact of citizens’ attitudes towards immigration on welfare spending against a backdrop of deglobalization and anti-immigration.","PeriodicalId":51737,"journal":{"name":"Journal of Economic Policy Reform","volume":"25 1","pages":"28 - 44"},"PeriodicalIF":2.1,"publicationDate":"2020-07-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17487870.2020.1760102","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46921587","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-07-13DOI: 10.1080/17487870.2020.1785299
Andrew Feltenstein, B. Datta
ABSTRACT We study the trade-off between “broad-based energy subsidy” and “subsidy reform and targeted transfer” in the developing country context. We analyze the incidence of an electricity tariff differential subsidy program in Pakistan and find that the greater share of subsidy benefit goes to relatively non-poor households. We then conduct a computable general equilibrium exercise of electricity subsidy reform and targeted transfer, and our results indicate that redistributing savings from electricity subsidy reform improves poor households’ real income. However, this comes at the cost of short-term economic slowdown, before the economy returns to the benchmark level in the long term.
{"title":"Broad-based subsidies or targeted transfers? Distributional equity vs macroeconomic costs","authors":"Andrew Feltenstein, B. Datta","doi":"10.1080/17487870.2020.1785299","DOIUrl":"https://doi.org/10.1080/17487870.2020.1785299","url":null,"abstract":"ABSTRACT We study the trade-off between “broad-based energy subsidy” and “subsidy reform and targeted transfer” in the developing country context. We analyze the incidence of an electricity tariff differential subsidy program in Pakistan and find that the greater share of subsidy benefit goes to relatively non-poor households. We then conduct a computable general equilibrium exercise of electricity subsidy reform and targeted transfer, and our results indicate that redistributing savings from electricity subsidy reform improves poor households’ real income. However, this comes at the cost of short-term economic slowdown, before the economy returns to the benchmark level in the long term.","PeriodicalId":51737,"journal":{"name":"Journal of Economic Policy Reform","volume":"25 1","pages":"211 - 228"},"PeriodicalIF":2.1,"publicationDate":"2020-07-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17487870.2020.1785299","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47304987","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-07-13DOI: 10.1080/17487870.2020.1785298
V. Braithwaite, E. Ahmed, Deborah Cleland
ABSTRACT Australia adopted income-contingent government loans for tertiary students 30 years ago, aiming to promote greater access and equity in higher education, as repayments were required only when income exceeded a threshold. Why then does the scheme still cause dissension and with what consequences for government? We analyse qualitative and quantitative survey data to answer this question. Contrary to the government’s universal conception of fairness, graduates keenly perceive unfairness relative to their peers. Our results indicate that perceptions of unfair treatment create enduring difficulties for governments in securing cooperation from their citizens.
{"title":"“Fair to me, fair to us, or fair to you?” Unresolved conflict between government and graduates over Australia’s tertiary education loans","authors":"V. Braithwaite, E. Ahmed, Deborah Cleland","doi":"10.1080/17487870.2020.1785298","DOIUrl":"https://doi.org/10.1080/17487870.2020.1785298","url":null,"abstract":"ABSTRACT Australia adopted income-contingent government loans for tertiary students 30 years ago, aiming to promote greater access and equity in higher education, as repayments were required only when income exceeded a threshold. Why then does the scheme still cause dissension and with what consequences for government? We analyse qualitative and quantitative survey data to answer this question. Contrary to the government’s universal conception of fairness, graduates keenly perceive unfairness relative to their peers. Our results indicate that perceptions of unfair treatment create enduring difficulties for governments in securing cooperation from their citizens.","PeriodicalId":51737,"journal":{"name":"Journal of Economic Policy Reform","volume":"25 1","pages":"45 - 61"},"PeriodicalIF":2.1,"publicationDate":"2020-07-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17487870.2020.1785298","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47685667","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-07-04DOI: 10.1080/17487870.2020.1785297
Angela Garcia Calvo, S. Coulter
ABSTRACT This paper examines industrial policy responses to the 2008 crisis in four European countries and gauges their long-term significance by asking: to what extent were these politicised, short term remedies; or enduring policy changes? We find that policy responses varied significantly in their coherence and long-term impact and argue that the key influential factors were: the presence of large, globally competitive manufacturing bases spanning several adjacent sectors; and the existence of strong public-private elite networks, rather than pre-existing institutional structures – which proved surprisingly malleable. The paper contributes to the understanding of the determinants of policy-making in times of crisis.
{"title":"Crisis, what crisis? Industrial strategies and path dependencies in four European countries after the crash","authors":"Angela Garcia Calvo, S. Coulter","doi":"10.1080/17487870.2020.1785297","DOIUrl":"https://doi.org/10.1080/17487870.2020.1785297","url":null,"abstract":"ABSTRACT This paper examines industrial policy responses to the 2008 crisis in four European countries and gauges their long-term significance by asking: to what extent were these politicised, short term remedies; or enduring policy changes? We find that policy responses varied significantly in their coherence and long-term impact and argue that the key influential factors were: the presence of large, globally competitive manufacturing bases spanning several adjacent sectors; and the existence of strong public-private elite networks, rather than pre-existing institutional structures – which proved surprisingly malleable. The paper contributes to the understanding of the determinants of policy-making in times of crisis.","PeriodicalId":51737,"journal":{"name":"Journal of Economic Policy Reform","volume":"25 1","pages":"191 - 210"},"PeriodicalIF":2.1,"publicationDate":"2020-07-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17487870.2020.1785297","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46158246","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-07-03DOI: 10.1080/17487870.2020.1785296
Henry Möykkynen, A. Pantelias
ABSTRACT Viability gap funding (“VGF”) has emerged as one of the alternatives to leverage public funds in order to mobilise private infrastructure investment in developing countries. This paper is motivated by an interest to better understand how different stakeholders see VGF and whether the use of different VGF instruments can be an effective tool in promoting private infrastructure investment. The research found that there is a need for more VGF in low- and middle-income countries, among other important findings. Although the presented study is mainly focused on infrastructure development in Africa, its results can be of interest in other developing markets.
{"title":"Viability gap funding for promoting private infrastructure investment in Africa: views from stakeholders","authors":"Henry Möykkynen, A. Pantelias","doi":"10.1080/17487870.2020.1785296","DOIUrl":"https://doi.org/10.1080/17487870.2020.1785296","url":null,"abstract":"ABSTRACT Viability gap funding (“VGF”) has emerged as one of the alternatives to leverage public funds in order to mobilise private infrastructure investment in developing countries. This paper is motivated by an interest to better understand how different stakeholders see VGF and whether the use of different VGF instruments can be an effective tool in promoting private infrastructure investment. The research found that there is a need for more VGF in low- and middle-income countries, among other important findings. Although the presented study is mainly focused on infrastructure development in Africa, its results can be of interest in other developing markets.","PeriodicalId":51737,"journal":{"name":"Journal of Economic Policy Reform","volume":"24 1","pages":"253 - 269"},"PeriodicalIF":2.1,"publicationDate":"2020-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17487870.2020.1785296","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42868445","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-07-02DOI: 10.1080/17487870.2019.1683011
Michael Ehrmann, P. Schure
ABSTRACT The European Systemic Risk Board is charged with the macroprudential oversight of the financial system in the European Union. We compare and contrast the ESRB with the U.S. National Transportation Safety Board, which some scholars proposed as a role model for systemic risk management. There are parallels and some differences between these organisations. Neither institution has direct regulatory power, which could paradoxically be beneficial as it may help preserve their independence and objectivity in the long run. We also review the ESRB’s activities after it started in 2010 and assess the effect of its first public recommendation.
{"title":"The European Systemic Risk Board – governance and early experience","authors":"Michael Ehrmann, P. Schure","doi":"10.1080/17487870.2019.1683011","DOIUrl":"https://doi.org/10.1080/17487870.2019.1683011","url":null,"abstract":"ABSTRACT The European Systemic Risk Board is charged with the macroprudential oversight of the financial system in the European Union. We compare and contrast the ESRB with the U.S. National Transportation Safety Board, which some scholars proposed as a role model for systemic risk management. There are parallels and some differences between these organisations. Neither institution has direct regulatory power, which could paradoxically be beneficial as it may help preserve their independence and objectivity in the long run. We also review the ESRB’s activities after it started in 2010 and assess the effect of its first public recommendation.","PeriodicalId":51737,"journal":{"name":"Journal of Economic Policy Reform","volume":"23 1","pages":"290 - 308"},"PeriodicalIF":2.1,"publicationDate":"2020-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17487870.2019.1683011","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41581696","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-07-02DOI: 10.1080/17487870.2020.1760099
C. Henning, J. Boughton, Meg Lundsager, Edwin M. Truman, Martin A. Weiss, T. Wieser
ABSTRACT Theoretical approaches to European integration often downplay and sometimes ignore the role of external actors. But the regime complex through which the euro crisis of 2010-2015 was prosecuted involved the United states directly and indirectly through the IMF. Tracing such external involvement shows that, although they preferred greater deepening of euro area institutions than was achieved, U.S. and IMF officials nonetheless contributed substantially to the creation of the EFSF/ESM, robust ECB action and launch of the banking union project. The conclusion formulates falsifiable expectations on which a theory of external influence in regional integration can be developed and tested.
{"title":"U.S. policy in the euro crisis and the institutional deepening of the monetary union","authors":"C. Henning, J. Boughton, Meg Lundsager, Edwin M. Truman, Martin A. Weiss, T. Wieser","doi":"10.1080/17487870.2020.1760099","DOIUrl":"https://doi.org/10.1080/17487870.2020.1760099","url":null,"abstract":"ABSTRACT Theoretical approaches to European integration often downplay and sometimes ignore the role of external actors. But the regime complex through which the euro crisis of 2010-2015 was prosecuted involved the United states directly and indirectly through the IMF. Tracing such external involvement shows that, although they preferred greater deepening of euro area institutions than was achieved, U.S. and IMF officials nonetheless contributed substantially to the creation of the EFSF/ESM, robust ECB action and launch of the banking union project. The conclusion formulates falsifiable expectations on which a theory of external influence in regional integration can be developed and tested.","PeriodicalId":51737,"journal":{"name":"Journal of Economic Policy Reform","volume":"23 1","pages":"325 - 341"},"PeriodicalIF":2.1,"publicationDate":"2020-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17487870.2020.1760099","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48509319","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-07-01DOI: 10.1080/17487870.2020.1746660
Henrik Jordahl, L. Persson
ABSTRACT In 2009, Sweden launched a freedom-of-choice reform that gave municipalities the option to introduce standardized quasi-markets in social services. The reform was initially popular to adopt in home care until the share of adopting municipalities leveled out just above 50 percent. In recent years, the trend has reversed, and several municipalities have abolished their choice system. Compared with municipalities with choice systems, the abolishing municipalities are more rural with fewer inhabitants. A fixed-effects regression suggests that decreases in the market share of private providers, political shifts towards the left, and increasing costs are related to the abolition of choice systems.
{"title":"The end of a trend: retraction of choice in Swedish elderly care","authors":"Henrik Jordahl, L. Persson","doi":"10.1080/17487870.2020.1746660","DOIUrl":"https://doi.org/10.1080/17487870.2020.1746660","url":null,"abstract":"ABSTRACT In 2009, Sweden launched a freedom-of-choice reform that gave municipalities the option to introduce standardized quasi-markets in social services. The reform was initially popular to adopt in home care until the share of adopting municipalities leveled out just above 50 percent. In recent years, the trend has reversed, and several municipalities have abolished their choice system. Compared with municipalities with choice systems, the abolishing municipalities are more rural with fewer inhabitants. A fixed-effects regression suggests that decreases in the market share of private providers, political shifts towards the left, and increasing costs are related to the abolition of choice systems.","PeriodicalId":51737,"journal":{"name":"Journal of Economic Policy Reform","volume":"24 1","pages":"189 - 200"},"PeriodicalIF":2.1,"publicationDate":"2020-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17487870.2020.1746660","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42370187","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-06-26DOI: 10.1080/17487870.2020.1785300
P. Johansson, B. Kriström
ABSTRACT The handling of unemployment is a central issue in cost–benefit analysis. Typically, the shadow price of employing an unemployed is derived by considering a marginal change in the employment constraint faced by an unemployed or rather an underemployed. In contrast, in this paper, we consider the discrete shift from unemployment to (full) employment. The result provides guidance how to estimate the social cost of recruiting otherwise unemployed to a project. It is shown that the social cost is overestimated by using the private reservation wage. The common practice of adding different cost items is shown to be flawed.
{"title":"On the social opportunity cost of unemployment","authors":"P. Johansson, B. Kriström","doi":"10.1080/17487870.2020.1785300","DOIUrl":"https://doi.org/10.1080/17487870.2020.1785300","url":null,"abstract":"ABSTRACT The handling of unemployment is a central issue in cost–benefit analysis. Typically, the shadow price of employing an unemployed is derived by considering a marginal change in the employment constraint faced by an unemployed or rather an underemployed. In contrast, in this paper, we consider the discrete shift from unemployment to (full) employment. The result provides guidance how to estimate the social cost of recruiting otherwise unemployed to a project. It is shown that the social cost is overestimated by using the private reservation wage. The common practice of adding different cost items is shown to be flawed.","PeriodicalId":51737,"journal":{"name":"Journal of Economic Policy Reform","volume":"25 1","pages":"229 - 239"},"PeriodicalIF":2.1,"publicationDate":"2020-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17487870.2020.1785300","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49373445","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-06-24DOI: 10.1080/17487870.2020.1778475
A. Bucciol, Martina Manfrè, Gregorio Gimenez
ABSTRACT We evaluate the effect of the 2008 pension reform in Chile, applying a difference-in-difference estimation method to longitudinal survey data representative of the Chilean population. Our evidence suggests that those who started to receive a basic pension increased their debt more than their assets. We interpret this as an indicator of debt sustainability. The debt ratio increased significantly more for women, who may be particularly exposed to financial crises. The results raise concerns about the potential financial vulnerability of the population targeted by the reform, due to over-indebtedness.
{"title":"The 2008 Chilean pension reform: household financial decisions and gender differences","authors":"A. Bucciol, Martina Manfrè, Gregorio Gimenez","doi":"10.1080/17487870.2020.1778475","DOIUrl":"https://doi.org/10.1080/17487870.2020.1778475","url":null,"abstract":"ABSTRACT We evaluate the effect of the 2008 pension reform in Chile, applying a difference-in-difference estimation method to longitudinal survey data representative of the Chilean population. Our evidence suggests that those who started to receive a basic pension increased their debt more than their assets. We interpret this as an indicator of debt sustainability. The debt ratio increased significantly more for women, who may be particularly exposed to financial crises. The results raise concerns about the potential financial vulnerability of the population targeted by the reform, due to over-indebtedness.","PeriodicalId":51737,"journal":{"name":"Journal of Economic Policy Reform","volume":"25 1","pages":"62 - 79"},"PeriodicalIF":2.1,"publicationDate":"2020-06-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17487870.2020.1778475","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47943138","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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