Spillovers and the Locational Effects of Public Infrastructure

This paper examines the possibility of negative output spillovers frompublic infrastructure. A model of productive public capital shows that when input factors aremobile, public infrastructure investments in one location can draw production away from otherlocations. In a linear production-function framework, this effect would be manifested as anegative output spillover from public capital. Using data for California counties from 1969through 1988, such negative spillover effects are shown to exist in the case ofstreet-and-highway capital. The data show that changes in county output are positivelyassociated with changes in street-and-highway capital within the same county, but outputchanges are negatively associated with changes in street-and-highway capital in other counties.     

Punctuated Equilibria in the Private Sector and the Stability of Market Systems

The article examines longitudinal trends in expenditures by over 1,200 private firms, finding evidence of punctuated equilibrium—a pattern of change widely interpreted as evidence of stick‐slip dynamics in decision‐making processes. Levels of punctuation in the private sector closely resemble those observed in studies on public budgeting, suggesting that the private sector is not on average any less resistant to change than government. Both private‐ and public‐sector decision making is a function of deliberative processes, which the article compares to market systems. Deliberative decision making takes place when a group comes to a consensus about the allocation of resources. Market processes aggregate the actions of many independent decision makers to arrive at an outcome, such as the value of a commodity. The article considers the relative informational efficiency of these two processes and concludes that market systems should be more adaptive to incoming information. Three case studies provide natural experiments to investigate the stability of outputs during periods of deliberative and market control. A key finding is that when outputs are determined by market systems it greatly reduces the magnitude of punctuation.     

The Role of River Transport in the Development and Location of Productive Forces in the Eastern Regions of the USSR

A basin-by-basin survey of water-borne freight movements in Siberia. The Ob'-Irtysh basin has gained in significance with the development of its oil and gas resources, and further expansion of water transport depends mainly on construction of additional cargo-handling facilities. In the Yenisey basin, the construction of large hydroelectric dams tends to provide an important deep-water route between Lake Baykal and the sea, but no ship locks are being provided in most of the dams. The importance of the Lena basin has been enhanced since 1951 by the construction of the Tayshet-Lena railroad, providing direct access to the upper Lena from the Trans-Siberian main line. Cargo destined for the north coast of Siberia now moves increasingly through the Lena basin instead of over the Northern Sea Route. The Amur River continues to play an important transport role (especially for lumber and coal movements) even though large segments of the stream are paralleled by the railroad.     

Ethnic Inequalities in the Public Sector: A Comparative Analysis

This article uses empirical data to discuss the links between ethnicity, inequality and governance in a framework that divides countries according to their levels of ethnic polarization. It makes three main arguments. First, types of diversity, not the existence of diversity per se, explain potentials for conflict or cohesion in multiethnic societies. Ethnic cleavages are configured differently in different social structures and are less conflictual in some countries than in others. Second, relative balance has been achieved in the public sectors of countries that are highly fragmented or those with ethnicity‐sensitive policies, but not in those with ethnicity‐blind policies. Third, the article is critical of institutional approaches to conflict management that underplay background conditions in shaping choices. Consociational arrangements may not be relevant in unipolar ethnic settings or fragmented multiethnic societies, where governments may be ethnically inclusive under democratic conditions. They seem unavoidable in ethnic settings with two or three main groups or in settings with strong ethnic/regional clusters.     

An Assessment of the Causal Relationship between Growth and Inequality in Spanish Regions

This paper analyses the causal relationship between economic growth and income inequality in Spanish regions from 1970 to 2000. We examine such a relationship using a panel of data with four time observations on the level variables for each region. Thus, we use a modified form of traditional Granger causality tests to suit the short times series that are available. Applying a sum–difference test, we conclude that the empirical evidence supports the hypothesis that gross domestic product (GDP) per capita growth in Spanish regions leads to less income inequality, rather than any other possible causal relationship.     

Public Sector Relocation Policies in the UK and Ireland1

Public sector relocation from capital cities to reduce costs and ameliorate regional disparities has been a high profile but little researched government policy. The paper outlines the reasons for the growth of interest in public sector relocation in Europe, and then compares UK and Irish relocation policies. It argues there appears to be a good case for public sector relocation, but there is less agreement on the precise means whereby dispersal should be achieved. The paper highlights successful aspects of public sector relocation policies in the UK and Ireland and indicates areas for further research. Successful public sector dispersal depends on a willingness on the part of government to take a long-term view, and historical evidence suggests it is difficult to move senior posts from the capital.     

上海私营金融业与"三反""五反"运动

"三反"五反"运动从经济、政治、思想诸方面对上海私营金融业所产生的影响都是前所未有的.正是在"三反"五反"中,私营金融业业务情况急转直下,传统市场迅速萎缩;资方受到极大的震慑,从业人士思想动摇;同业组织边缘化,无法正常运作."三反"五反"运动客观上加速了上海金融业由私营向公私合营转化的进程.上海私营金融业,作为一种行业,已经走到了历史的尽头.     

加快少数民族地区经济发展体现了先进生产力的发展要求

“三个代表”重要思想是一个相互联系、相互促进、互为因果的统一整体,其中发展先进的生产力,是发展先进文化,实现最广大人民根本利益的基础条件;先进文化反映着生产力的发展水平,同时又为经济发展和社会进步提供精神动力和智力支持;代表最广大人民的根本利益则是中国共产党及其领导的政府一切工作的出发点和归宿,也是先进生产力和先进文化发展的最终落脚点。民族工作和少数民族地区的一切工作亦均需面对新形势、新任务,结合少数民族地区经济社会实际,把发展先进生产力摆在首要位置,加快地区经济建设,不断把改革开放和现代化建设事业推向前进,充分体现先进生产力的发展要求。对于少数民族地区地方政府而言,一方面要从发展先进生产力的要求来观察民族地区生产力发展中存在的问题,另一方面则要接着发展先进生产力的要求推进少数民族地区经济的发展。特别是要在发展中研究和解决问题,树立和应用科学的发展观,稳步实现民族地区的发展和繁荣。     

Public or Private Operation of Publicly Owned Railroads

Railroads are now owned by state or local governments in most of the American states. Public ownership does not necessarily bring public operations; indeed, most of the publicly owned lines are privately operated. Public operation is more likely to be found in states with noncompetitive political parties, relatively low population density, higher levels of political corruption, and a higher proportion of public lines that serve port or terminal facilities.     

Political Decoupling: Private Implementation of Public Policy

Where policy goals can be achieved through regulation of private firms, private provision of public services allows governments to separate public policies from their political costs by shifting those costs to the private sector. Over the past three decades, financial decoupling has emerged as a regulatory strategy for promoting conservation, especially in the energy sector. Decoupling refers to the separation of a firm’s revenues from the volume of its product consumed, which allows companies to pursue resource efficiency free from financial risk. Similarly, when private firms provide public services, they separate public policies from their political costs. This political decoupling allows governments to pursue controversial policies while avoiding their attendant political risks. Applied to environmental policy, this theory implies that potentially unpopular conservation policies are more likely to be adopted and succeed when implemented through private firms. As an initial test of the theory, we analyze California water utilities and their responses to that state’s drought from 2015–2017. Analysis shows that, compared with those served by local government utilities, private utilities adopted more aggressive conservation measures, were more likely to meet state conservation standards, and conserved more water.     

Global Liquidity,the Private Sector and Debt Sustainability in Sub‐Saharan Africa

This article analyses the effect of changes in international financial markets on the debt dynamics in sub‐Saharan Africa in recent years. A key development is the rise of the private sector as both a lender and a borrower in African debt markets, a process that is associated with the growing integration of the region into global financial markets. The article argues that the Debt Sustainability Framework of the International Monetary Fund and World Bank has taken some steps to account for this growth of private sector, cross‐border debt, but such steps still fall short of what is needed. A full appreciation of the importance of private debt implies, first, that debt sustainability in sub‐Saharan Africa be understood in the context of countries’ integration in global financial markets and the global liquidity cycles that characterize those markets and, second, that the interplay between private and public debt be monitored in order to provide a fuller picture of the impact of private sector debt on fiscal sustainability.     

The Impact of State-Controlled Banks on the Russian Banking Sector

A senior Russian economist examines the structure, governance, and balance sheets of state-controlled banks in Russia, which accounted for over 55 percent of the total assets in the country's banking system in early 2011. The author offers a credible estimate of the size of the country's state banking sector by including banks that are indirectly owned by public organizations. Contrary to some predictions based on the theoretical literature on economic transition, he explains the relatively high profitability and efficiency of Russian state-controlled banks by pointing to their competitive position in such functions as acquisition and disposal of assets on behalf of the government. Also suggested in the paper is a different way of looking at market concentration in Russia (by consolidating the market shares of core state-controlled banks), which produces a picture of a more concentrated market than officially reported. Lastly, one of the author's interesting conclusions is that China provides a better benchmark than the formerly centrally planned economies of Central and Eastern Europe by which to assess the viability of state ownership of banks in Russia and to evaluate the country's banking sector.