The last financial crises have revealed the vulnerability of many emerging countries. Yet, within an economically integrated area, some groups of countries have been spared the disastrous consequences of these crises. The purpose of this article is to underline the similarities between these countries in order to draw up a set of regional criteria that would protect an area against speculative attacks. Using a probit analysis, we show that the convergence of some banking and financial indicators towards reference levels guarantees the confidence of international lenders, which in turn limits financial contagion. A narrow margin between the amount of external debt, in particular the short-term debt of the country and a reference level constitutes a protection against the risk of illiquidity. Similarly, a low domestic credit in comparison with the international reserves of the economy is also an indicator of the sustainability of an area for international lenders that ensures its stock exchange stability.
This paper evaluates the domestic and international impacts of lowering short-term interest rates and increasing budget spending on several indicators of liquidity, volatility, credit and economic activity. Data from the 2003–2011 period in the United States, the Euro zone and Canada were used to develop two SVAR models for assessing the national effectiveness and the international spillovers of monetary and budgetary policies during the credit freeze crisis. While monetary policies caused a temporary decrease in volatility and increase in liquidity in North American stock markets, the shocks were mainly domestic and ineffective at generating liquidity in the banking sector. In contrast, government spending shocks had a positive impact on credit and consumption, especially in Europe and Canada. Moreover, budgetary policies also had a positive international spillover effect on consumption and credit, especially for smaller economies such as Canada.
Online surveys of health professionals have become increasingly popular during the COVID-19 crisis because of their ease, speed of implementation, and low cost. This article leverages an online survey of general practitioners’ (GPs’) attitudes toward the soon-to-be-available COVID-19 vaccines, implemented in October–November 2020 (before the COVID-19 vaccines were authorized in France), to study the evolution of the distribution of their demographic and professional characteristics and opinions about these vaccines, as the survey fieldwork progressed, as reminders were sent out to encourage them to participate. Focusing on the analysis of the potential determinants of COVID-19 vaccine acceptance, we also tested if factors related to survey participation biased the association estimates. Our results show that online surveys of health professionals may be subject to significant selection bias that can have a significant impact on estimates of the prevalence of some of these professionals’ behavioral, opinion, or attitude variables. Our results also highlight the effectiveness of reminder strategies in reaching hard-to-reach professionals and reducing these biases. Finally, they indicate that weighting for nonparticipation remains indispensable and that methods exist for testing (and correcting) selection biases.
Akin to other developing countries, Algeria has witnessed an increasing role of the private health sector in the past two decades. Our study sheds light on the public–private overlap and the phenomenon of physician dual practice in the provision of health care services using the particular case of cesarean deliveries in Algeria. Existing studies have reported that, compared to the public sector, delivering in a private health facility increases the risk of enduring a cesarean section. While confirming this result for the case of Algeria, our study also reveals the existence of public–private differentials in the effect of medical variables on the probability of cesarean delivery. After controlling for selection in both sectors, we show that cesarean deliveries in the private sector tend to be less medically justified compared with those taking place in the public sector, thus, potentially leading to maternal and neonatal health problems. As elsewhere, the contribution of the private health sector to the unmet need for health care in Algeria hinges on an appropriate legal framework that better coordinates the activities of the two sectors and reinforces their complementarity.
Using a change in EU food aid policy in 1996 as an instrument for EU food aid allocation, I investigate how other donors react to the EU’s food aid allocation. At that time, the EU suddenly divided by two the number of its food aid recipients. On average, other donors imitate the EU at both extensive and intensive margins. Donors’ reactions are heterogeneous: European countries and Canada herd the EU, while the World Food Programme substitutes. The USA do not react. Those results can be explained by competition for relative impact and information effects. For a recipient country who constantly received food aid from the EU before 1996, the number of donors decreases by almost 0.5. This behavior reinforces the problem of orphan and darling recipients.
In this chapter, we revisit the origins and genesis of the french school of proximity and its evolution trough time, in order to better understand how and why the small group of researchers who were the driving force of this new way of thinking were quickly able to get a real legitimacy and effective recognition. First of all, it was clear that the role of space in economic dynamics was too often the subject of confusion and abusive assertions. Asking this question in terms of coordination made it possible to consider non-spatial factors in the analysis. The notion of proximity as a polysemic concept therefore opened the way to understanding how space matters or not, together with these other factors thus a renewed approach of questions related to space and territories. But, even starting from issues of economic nature, such an approach could not remain limited to its economic dimension, the questions of coordination involving social individuals, located in geographical space but also embedded in bundles of relationships and in institutions. Thus, it had to broaden very quickly to other disciplines in social sciences which largely contributed to consolidate the bases of what became a multidisciplinary approach and to develop theoretical as well as empirical tools.
Taking advantage of an original firm-level survey carried out by the Banque de France, we empirically investigate how the employment of ICT specialists (in-house and external) and the use of digital technologies (cloud and big data) have an impact on firm productivity and labor share. Our analysis relies on the survey responses in 2018 of 1,065 French firms belonging to the manufacturing sector and with at least 20 employees. To tackle potential endogeneity issues, we adopt an instrumental variable approach as proposed by Bartik (1991, Who Benefits from State and Local Economic Development Policies? Kalamazoo, MI: W.E. Upjohn Institute for Employment Research.). The results of our cross-section estimations point to a large effect: ceteris paribus, the employment of ICT specialists and the use of digital technologies improve a firm’s labor productivity by about 23% and its total factor productivity by about 17%. Conversely, the employment of in-house ICT specialists and the use of big data both have a detrimental impact on labor share, of about 2.5 percentage points respectively.
Historically and in many parts of the developing world, ethnic minorities have played a central role in the economy. Examples include Chinese throughout Southeast Asia, Indians in East Africa, and Jews in medieval Europe. These rich minorities are often subject to popular violence and extortion, and are treated ambiguously by local politicians. We analyze the impact of the presence of a rich ethnic minority on violence and on interactions between a rent-seeking local elite and a poor majority. We find that the local elite can always make use of the rich minority to maintain its hold on power. When the threat of violence is high, the government may change its economic policies strategically to sacrifice the minority to popular resentment. We investigate the conditions under which such instrumental scapegoating emerges, and the forms it takes. We then introduce some social integration capturing, for instance, mixed marriages and shared education. Social integration reduces violence and yields qualitative changes in economic policies. Overall, our results help explain documented patterns of violence and segregation.