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Development Countries (development + country)

Distribution by Scientific Domains
Business, Economics, Finance and Accounting75%

Selected Abstracts

THE OPTIMAL PUBLIC EXPENDITURE FINANCING POLICY: DOES THE LEVEL OF ECONOMIC DEVELOPMENT MATTER?

ECONOMIC INQUIRY, Issue 3 2007
NILOY BOSE
This paper explores how the optimal mode of public finance depends on the level of economic development. The theoretical analysis suggests that in the presence of capital market imperfection and liquidity shocks, the detrimental effect of inflation on growth is stronger (weaker) at lower (higher) levels of economic development. Consequently, income taxation (seigniorage) is a relatively less distortionary way of financing public expenditure for low-income (high-income) countries. We provide empirical support for our model's predictions using a panel of 21 Organization for Economic Cooperation and Development countries and 40 developing countries observed over the period 1972,1999. (JEL E44, E6, H6, O42) [source]

Capturing the voice of older consumers in relation to financial products and services

INTERNATIONAL JOURNAL OF CONSUMER STUDIES, Issue 2 2010
Carol Brennan
Abstract The purpose of this pilot study was to focus on the suitability of selected financial products for older people. Bank accounts and equity release products were selected for this study by an expert advisory panel. New marketing initiatives are being used to promote bank accounts, including forms of insurance, for the ,50+' market. Also, older people are now expected to provide for their retirement and it is anticipated that equity release will be one product which may be used to fund and maintain consumer lifestyles. In the first phase of the study, a questionnaire was distributed to 152 people aged over 50 years in Scotland. Eighty-three were completed, a response rate of 55%. The results informed the development of questions for the second phase which were discussed with 46 participants via the World Café in June 2008, enabling a deeper insight into their opinions. The research found that consumers had lost trust in financial product and service providers because of the perceived excessive profits of banks and lack of customer service. Further, many products and services were prohibited for or incurred extra costs to those aged over 60 or 65 years, leaving limited choices, and equity release products were seen as a last resort for those in financial difficulty. Although the profitability of banks has changed dramatically since the completion of data collection, the issues identified by older consumers in Scotland will be of international interest. The demographic changes resulting in an increasing proportion of elderly people in the population are reflected throughout the UK and many Organisation for Economic Co-operation and Development countries. Similar financial products and services, which were the focus of this study, are promoted internationally, offering opportunities to replicate the research methods. [source]

Underlying consumer preferences and their contribution to energy demand

OPEC ENERGY REVIEW, Issue 3-4 2009
Olutomi I. Adeyemi
The demand for energy is not simply a function of price and income, but can be shown to also be a function of the underlying energy demand trend (UEDT). The UEDT not only captures behavioural responses to non-fiscal instruments, including technological change, but also encapsulates attitudinal responses/changes in demand that might result, for instance, from increased public awareness of how environmentally damaging energy use can be; hence, reflecting underlying consumer preferences. This study estimates a longitudinal econometric model for the aggregate demand functions of a sample of 17 Organisation for Economic Co-operation and Development countries for the period 1960,2005. This approach to modelling will enable UEDTs to be observed for each of the countries, as well as normal price and income elasticities. The model results will provide an indication of the extent to which price/income-based instruments can be used to reduce the demand for energy, as well as indicating the extent to which consumers have responded to non-price/income instruments. [source]

Intellectual Property Rights and Foreign Investment: The Political Economy of Taiwan's Technology-Intensive Foreign Direct Investment

ASIAN POLITICS AND POLICY, Issue 4 2009
Douglas B. Fuller
This article employs Taiwan's institutions for intellectual property rights (IPR) to explain two aspects of Taiwan's foreign direct investment behavior: the location of offshore sites for Taiwanese research and development, and investment by Taiwanese venture capitalists. The article first describes the evolution of Taiwan's informal IPR practices that differ from the ideal typical IPR regime supposedly required for economies as technologically sophisticated as Taiwan's. Essentially, Taiwan has developed informal practices to protect corporate IPR that are centered on internal corporate mechanisms rather than external formal legal mechanisms. Relying on these informal practices, the article discusses how Taiwan has invested in technology-intensive activities in locations where IPR protection is weak. This behavior stands in sharp contrast to the behavior of multinationals from the Organisation for Economic Co-operation and Development countries. [source]