Market economy

Japan and Austria are among the OECD countries with an average labour force participation rate but an above average gender gap as far as employment opportunities and earnings are concerned. In Japan, women in the main working age have a fairly large margin of labour resources not employed in the market economy. In Austria in contrast, the proportion of unused labour resources of mature workers is high, and the gender gap is less pronounced than in Japan, which suggests that a different combination of policies is called for to promote economic and employment growth in the face of an ageing society.

Manufacturing firm data for 1820 to 1850 are employed to investigate the role of women and children in the industrialization of the American Northeast. The principal findings include: (1) Women and children composed a major share of the entire manufacturing labor force; (2) their employment was closely associated with production processes used by large establishments, both mechanized and non-mechanized; (3) the wage of females (and boys) increased relative to that of men with industrial development; and (4) female labor force participation in industrial counties was substantial. These findings bear on the nature of technical change during early industrialization and why American industrial development was initially concentrated in the Northeast.

This article explores the determinants of corruption in transition economies of the post-Soviet Union, Central-Eastern Europe, and Western industrialized states. We look in-depth at the East–West gap in corruption, and why entrepreneurs and small business owners become engaged in corrupt deals. Part of the answers lie in the country-specific formal and informal institutional make-up. The likelihood of engaging in corruption is influenced by the lower efficiency of financial and legal institutions and the lack of their enforcements. Also, viewing illegal business activities as a widespread business practice provides the rationale for entrepreneurs to justify their own corrupt activities. Moreover, closed social networks with family, friends, and national bureaucrats reduce the opportunism of the contracting party of the corrupt deal, thus providing breeding grounds for corruption.

Farms in Tajikistan currently face a severe debt crisis. This is part of a more general problem, as many transition countries in the Commonwealth of Independent States (CIS) have been struggling with farm debt overhangs. Debt resolution discussions have been ...

Most enterprises, from the smallest to the largest, need capital. Enterprise can play a crucial role in alleviating poverty. In developing economies, women’s role in alleviating poverty through enterprise has long been recognised, and they have been received as a client group. However, poor women lack the capital required for enterprise start-ups and although lending mechanisms exist in their economy, mainstream financial institutions are not oriented towards providing them with the funding they require. Microfinance generally refers to the provision of financial services (e.g.: savings, credit, insurance) to the poor, those who normally do not have access to formal financial institutions. Non-Governmental Organisations (NGOs) in India have promoted micro-finance through women’s self-help groups. However, the different institutional forms are not value-neutral and vested interests are involved. The interests of people and those of micro-financing institutions (MFIs) sometimes compete and conflict.If NGOs change their direction and become MFIs, there could be serious repercussions on development work at the field level. When funding support underlines financial viability, then the MFIs have to be competitive; poverty reduction and empowerment will suffer unless the institutions are also owned and managed by the poor. In this case, more investment in building their capacity is required. In the present phase of evolution of an entrepreneurial culture in India, financial support for NGOs to become MFIs is cheaper than policing a market economy and the real issue of the poor being left out by the market economy is ignored. NGOs can provide the leadership for greater structural reforms and do what they are best at: be facilitators, and create people’s institutions for micro-finance. In this way, the holistic development of people that should precede their involvement in small and micro-enterprise is more likely to occur.

Pursuant to the same logic that prevailed when Jean Monnet and Robert Schuman reached out to Germany after the end of World War II, and in keeping with the promise made in the Preamble of the founding treaty, the EU reached out to Central and Eastern Europe after the end of the Cold War and offered integration. In recognition of the difficulties for the EU on the one side of absorbing a large number of countries without jeopardizing the functioning of the institutions, and the difficulties for the Central and Eastern European Countries ("CEECs") on the other side of transforming themselves into modern democracies with rule of law and functioning market economies, a number of pre-conditions for accession and a number of support schemes for the transformation were established. The present Article analyzes those pre-conditions that were supposed to promote the development of Rule of Law, as well as those schemes that were intended to support this development. It concludes tha...

THIS CHAPTER DESCRIBES general trends in the growth and diffusion of telemedicine worldwide. It begins with a description of the diffusion in the United States, and is followed by examples from a range of other countries. A theoretical model is then presented that contains factors that affect the adoption of new technologies, particularly in a free market economy and with a high degree of professional autonomy. Attention is then focused on the analysis of important factors slowing the spread of telemedicine on several different levels.

While hinterlands have often been viewed as the areas that surround urban centers or central zones, some researchers have used the term to describe areas on the edges or margins of an integrated periphery. In Hawaiʻi, the market economy spread across large swaths of the archipelago during the nineteenth century. This paper considers the spread of the market economy through Hawaiʻi from the perspective of a community in one of Hawaiʻi’s marginal regions. Here, I examine artifacts and subsistence evidence from nineteenth-century Hawaiian house sites at Miloliʻi, a community on the remote Nā Pali Coast of Kauaʻi Island. Analysis of the household assemblages suggests that the residents of the Nā Pali Coast gradually began to incorporate foreign consumer goods into household economies. Rather than serving as hallmarks for large-scale changes in the household economy, foreign goods were instead incorporated into households that continued to rely on household-level food production and manufacture household goods from locally available materials. Rather than committing themselves to wholesale participation in the market economy, this paper argues that Nā Pali Coast households were able to strategically fashion for themselves a place on the margins of the market economy.

In the last years it seemed that the Romanian economy leading up to access to the EU was going to enter a new stage, evolving more and more in line with the standard theory. Based on more accurate statistical data for the last years, we try to verify some hypotheses used in the standard economic literature. Also, applying few simple models derived from the standard ones in our experiment we estimated their parameters in the case of Romania in order to obtain an image of the trends in the next period. The two main partial models are referring to the impact of investment on GDP growth rate and to the relation between the interest rate and investment, respectively. Moreover, an equation including inflation dynamics was taken into account. Beginning in 1998, the behaviour of the national economic system and the interest rate - investment - economic growth relationship tend to converge to those demonstrated in a normal market economy and presented in the specialised literature.

The prevailing research into suburbanisation in former centrally planned countries explains suburban change by referring to macro-level factors that are evident in the transition from a centrally planned to a market economy. Findings show that in a neo-liberal environment, the public sector plays only a modest role in residential planning; the key players are developers and banks. This study takes a different approach by focusing on the micro-level factors that lead households to move from the city to new, post-Soviet suburban settlements, specifically in the Tallinn urban region of Estonia. A sample of data from the University of Tartu’s 2006 New Residential Areas Survey is herein analysed in order to ascertain the reasons for moving, the criteria used in the selection of a particular suburban settlement, and the subsequent levels of residential satisfaction. The results show that, for the period in question, housing adjustment moves were more prevalent than induced moves triggered by life-course changes. In addition, it was found that, generally, new suburbanites were satisfied with their housing and neighbourhoods. However, they were less satisfied with the provision of local services, especially when their new settlements lay at a distance from pre-transition settlements.► Individual residential preference is an important factor in household moves in post-Soviet city regions. ► Moves to new suburban areas are mainly a result of housing adjustment rather than being induced by life-course events. ► Infrastructure and proximity to the city centre are the principal factors considered when choosing a new residential area. ► New suburbanites are well satisfied with their housing conditions and residential environment. ► They are mainly concerned about local infrastructure, particularly that associated with social activity and public transport.

In moving towards becoming a market economy, China has made dramatic strides since embarking on reforms in 1978, but liberalizations have been accompanied by inflationary booms followed by bouts of social instability. These last account for much of the caution in China’s approach to joining the World Trade Organization, which is seen as critical to securing further foreign direct investment, foreign technology and access to foreign markets—all necessary to economic growth and development. There is a reluctance to make firm commitments to abide by WTO rules on a schedule faster than that expected of developing countries. Perhaps the commitments required could be undertaken in confidence-building stages.

Saffron cultivation confined to a limited geographical area in the State of Jammu and Kashmir is under stress reportedly due to cement dust pollution and land use changes. Besides, having tremendous medicinal values, Saffron has traditionally been associated with the famous Kashmiri cuisine and undoubtedly represents the rich cultural heritage of Kashmir. However, Saffron production is currently suffering on several counts; falling productivity and unscientific post-harvest management are the major concerns. Some other factors that are responsible for the decline of saffron industry in Kashmir are, lack of availability of good-quality corms as seed material, poor soil fertility, lack of assured irrigation, infestation by rodents and diseases, poor post-harvest management, improper marketing facilities and increased urbanization on saffron lands. This legendary crop is under threat of extinction and warrants collective attention of researchers, farmers and policy makers. As far as th...

International capital markets, in general, seem to be volatile markets, influenced bymany factors, a phenomenon that affects both developed markets, as well as least developed, withemerging market economies suffering most because of this. It is clear, however, that volatility willremain for as long as it is delayed the adoption of specific measures at national and internationalfinancial architecture level, measures that may be necessary to reduce these risks, to limit theirimpact, and that the question financial market can relapse in a manner as efficiently as possible.

The seminal article by Hirschman discusses two opposing hypotheses of how capitalism affects the characters of people: the doux commerce thesis and the self- destruction thesis. He stops short, however, of specifying the type of conditions under which the market economy will enforce virtues rather than erode them. This paper develops the hypothesis that the degree of competition is a major condition in this respect. In particular, I will argue for a curvilinear relationship between virtues and competition. The doux commerce thesis holds for situations of low competition, because lack of competition frustrates courage, satisfaction, truthfulness, prudence and diligence. In that case, more competition will enforce virtues. However, beyond a certain degree of competition, self-destructive forces set in. If competition becomes very fierce, courage will turn to fearfulness and recklessness, satisfaction to dissatisfaction, honesty to opportunism and diligence to overzealous behavior with...

The real estate market in Poland is a relatively immature market, but one that has been experiencing substantial transformation. The development of the market has been encouraged by a number of factors, including changes arising as a result of new legislation and the migration of capital between capital markets. The progress of the real estate sector towards a western style competitive market has taken place within the gradual transformation of the Polish economy into a free market economy. As investment grade property is in relatively short supply in Poland, investors consider opportunities within the wider CEE block. An analysis of the risk-return characteristics of the three largest CEE real estate markets namely, Poland, Hungary and Czech Republic, shows that the returns in these markets have been negatively correlated with the UK. As these economies and markets evolve, and being part of the wider EU trading block, their economic performance will slowly converge and become more ...

В статье на основе полевых материалов и других источников рассматривается современное состояние оленеводства в Анабарском арктическом районе Республики Саха (Якутия). Оленеводство занимает важнейшее место в республиканской политике в отношении регионов проживания народов Севера. Целями этой политики являются поддержка и сохранение местной культуры, обеспечение продовольственной безопасности регионов. Ведется работа по созданию позитивного образа оленеводства на республиканском и региональном уровнях. Оленеводы Анабарского р-на выстраивают свои экономические стратегии с опорой на проводимую государством патерналистскую политику, а также активно задействуют более широкие социальные связи, предпринимательские навыки, проявившиеся в период ослабления государства в 1990-е годы. В различных контекстах в поведении оленеводов заметна амбивалентность: чередующиеся практики избегания государства, стремление к большей самостоятельности и одновременно обращение к ресурсам и авторитету государства. В статье показаны особенности хозяйственной адаптации к изменяющейся природной и социально-экономической среде. Ключевые слова: оленеводство, долганы, патернализм, Республика Саха (Якутия), рыночная экономика, предпринимательство, адаптация, свободные места.


Reindeer husbandry today occupies an important place in the policy of the Republic of Sakha (Yakutia) in relation to the regions of residence of the peoples of the North and also in the local municipal policy considered in the work of the Anabarsky district. The goals of the policy are to support and preserve the local culture and ensure the food security of the regions associated with reindeer herding. The reindeer breeders of Yuryung-Khaya today are building their economic strategies relying on the paternalistic policies pursued by the state, on the one hand, and actively using broader ties and entrepreneurial skills that were first demonstrated during the decline of the 1990s, on the other. In various contexts, ambivalence is manifested in the behavior of reindeer herders: alternating avoidance practices with the desire for greater autonomy and appeal to the authority of the state. Modern reindeer herders of Yuryung-Khaya to a greater or lesser extent use part of the available resources, not only to meet their primary needs, but also to improve their well-being and strengthen their household.

U tekstu se sociološki analiziraju, pojašnjavaju i opisuju osnovni tokovi privatizacije i tranzicije Srbije tokom poslednje dve decenije. Posebno se prati proces dezintegracije radničke klase i njeno pretvaranje u osiromašenu i marginalnu masu najvećnih gubitnika tranzicije. Tu su i osvrti na karakteristike starih/novih ekonomskih elita, odnos vladajućih i opozicionih partija prema privatizaciji i radnicima. Na primeru radničkuih štrajkova se ukazuje na razmere atomizacije radničke klase, i odnos ignorancije od strane vlasti i ekonomske elite. Na delu su procesi tzv. prvobitne akumulacije kapitala i stvaranja kapitalizma periferije. Srž tih promena čini promena vlasničke strukture, tj. privatizacija društvene svojine. Ona je okosnica šireg procesa-tranzicije, koja je jednostrano i pogrešno svedena na privatizaciju. INSTITUCIONALNI MODELI PRIVATIZACIJE U SRBIJI Pravna i stvarna " demontaža " samopupravljanja u Jugoslaviji i Srbiji započeta je izmenama Zakona o radnim odnosima krajem 1988. godine. Ovo je konkretno značilo odbacivanje uloge radničkih saveta, profesionalizaciju funkcije upravljanja, oličenu u većoj slobodi delovanja direktora preduzeća. Društvena svojina je izgubila primat nad ostalim oblicima svojine, a radnici više nisu bili jedina legitimirajuća grupa za opstanak elita na vlasti. Elementi tržišnog privređivanja već su pre toga bili prisutni, posebno osnaženi propisima i kampanjama o značaju " male " privrede i mešovite svojine. Sve što je kasnije došlo, od izmena Ustava SFRJ, saveznog i republičkih zakona o transformaciji društvene svojine, išlo je u pravcu utiranja puta nastanku kapitalističkog društva. Opšti i najvažniji faktor koji je na to uticao bio je raspad zemlje, ratna dešavanja, internacionalizacija sukoba, stvaranje nacionalnih država i " novih " društava. Ma koliko se novouspostavljene vladajuće elite trudile da se predstave originalne, po rešenjima i ponašanju koje su narodu ponudile one su bile vrlo slične. Radnici kao najmasovnija društvena grupa najviše su trpeli posledice njihovih odluka, od ratnih sukoba, privatizacije, do reformi i (ne)uspešne tranzicije društva. Privatizacija po saveznom i republičkom zakonu s početka devedesetih se nije bitnije razlikovala. Reč je o tzv. " insajderskoj " privatizaciji. Radnim organizacijama i zaposlenima je ostavljena široka mogućnost da donesu odluku o vremenu i načinu privatizacije. Najveći deo kapitala se delio među zaposlenima i bivšim radnicima. Potom su na red dolazili državni fondovi (penzioni, za nezaposlene i sl.). Prodaja, dokapitalizacija i restrukturiranje su postupci koje je predviđao republički zakon. Pošto se sve to dešavalo u vremenu masovnog gubitka posla i zajedničkog tržišta, hiperinflacije i siromašenja stanovništva, to je nedostajalo finansijskih sredstava da se obavi šira privatizacija. Radnici su dobili besplatne akcije, kojih su se kasnije brzo oslobađali prodajom po niskim cenama. Godine 1994. došlo se na ideju da se isprave " nepravde " , tj. da se preispita dotadašnja privatizacija. To je učinjeno uredbom vlade Srbije, koja je praktično poništila raniju privatizaciju društvene svojine. Umesto 44% privatnog kapitala njegov udeo nije više prelazio 4%! Najveća šteta naneta je radnicima, jer oni više nisu posedovali ni akcije, a ni sigurna radna mesta. Najveću korist imali su ljudi iz " senke " , najbliži centrima političke moći. Oni su u međuvremenu obavljali " skrivenu " , ili " spontanu " privatizaciju. Prema istraživanjima Slobodana Vukovića najvažniju ulogu imali su direktori preduzeća, ali i pojedinci iz privatnog sektora. Na razne načine oni su " tunelovali " sredstva i usmeravali ih u firme registrovane na