This thesis is concerned with the measurement and determinants of efficiency of local governments in the provision of public goods and services. In particular, the three chapters provide new contributions to the literature of fiscal federalism studying, from different angles, the relationship between policies that can stimulate the electoral accountability of politicians and local government efficiency in the provision of public services. In all chapters the measurement of local government efficiency has been obtained through data envelopment analysis and stochastic frontier models using different measures of inputs and outputs employed in the production of public services. Subsequently, the determinants of efficiency have been studied using panel data models and quasi-experimental methods. The analysis takes advantage of the policies implemented by the Italian and the United Kingdom (UK) government in the last 20 years. In particular, Italian local authorities have been subject to an intense process of fiscal decentralisation, and English councils have been subject to a unique process of performance evaluation based on quantitative measures of outputs.

The prime objectives of the study are to analyse the effects of tax and tariff policies in Bangladesh. Toward this end, different variants of computable general equilibrium models are developed and used to assess the distributional consequence of tax reform and to examine the resource allocation and income distribution effects of tariff liberalisation within the paradigm of both 'traditional' and 'new' trade theories. A computable general equilibrium model of the Bangladesh economy is developed to assess the distributional consequences of the indirect tax reform which involves the introduction of a value added tax system. The model captures specific features of a consumption-type and destination principle-based value added tax system which has been adopted in Bangladesh. An alternative model of the Bangladesh economy is also developed to analyse the effects of tariff liberalisation on resource allocation and income distribution under both competitive and non-competitive assumptions. The model explicitly incorporates 'market structure' variables such as marginal costs, the number of domestic firms, the excess profit condition, the market demand elasticities for domestic firms and increasing returns to scale. The models are static in nature and are calibrated to a 1988/89 data set compiled within the framework of a social accounting matrix (SAM). The social accounting matrix integrates different data sources and the input-output table to depict the major macroeconomic relations and provides a consistent macroeconomic data set for policy modelling. Such a framework is particularly useful for a country such as Bangladesh with sparse and conflicting data sources. The SAM is an attractive framework for locating inconsistencies and for resolving them in best the possible ways. The incidence effects of the indirect tax system under pre-VAT and VAT systems are based on two approaches: a simple approach and a computable general equilibrium approach. Two sets of policy experiments are carried out. First, excise duties of domestic production activities and sales taxes on imports are replaced by a revenue-neutral single rate of value-added tax. In the second experiment, the VAT system is extended to the service sector with a revenue-neutral VAT rate. The results of policy experiments indicate that because of exemptions on subsistence agricultural products, and because of the progressive structure of the tariffs, the overall indirect tax system would remain progressive even after the introduction of a single rate VAT. However, the overall indirect tax incidence appears to be less progressive under the VAT system compared with the pre-VAT system. The effects of tariff liberalisation on resource allocation and income distribution are also examined in this study. It is observed that the results of tariff liberalisation are sensitive to the way the model is specified. It is also observed that in the competitive and constant returns to scale model variant, resources move from the heavily protected sector to the less protected sectors as a result of tariff liberalisation. In contrast, the heavily protected manufacturing sectors turn out to be the main beneficiary of liberalisation when imperfect competition is introduced. Expansion of manufacturing output appears to come from the pro-competitive effects of tariff liberalisation. On the other hand, almost all the manufacturing sectors show much larger output growth with the incorporation of increasing returns to scale. The larger expansion of output of manufacturing sectors is due to a reduction in unrealised scale economies. The income distribution effects of tariff liberalisation are captured through the changes in income levels of the six household groups and changes in factor income and factor returns. The redistribution of income under liberalisation appears to favour the low income household groups. However, it appears that the relative progressivity and regressivity in the distribution of household income depend on the relative changes of capital and labour income. The association between market structure variables and profitability in the manufacturing sector of Bangladesh is also analysed in this study. This exercise provides some evidence on the association between industrial structure and profitability and assesses the importance of foreign and domestic factors on industry profitability. Two alternative measures of concentration namely concentration ratio and Hirschman-Herfindahl index and two foreign competition variables such as import shares and effective tariff rates are used to examine this association. The results of this exercise indicate that profitability is significantly related to concentration levels in the manufacturing sector of Bangladesh. It also reports that foreign competition variables play a significant role in affecting profitability in domestic industries. It is observed that the profitability is higher in those industries where concentration levels are high and import shares are low and effective tariff rates are high.

This thesis examines the development by local authorities of alternative models of ownership of public housing, focusing on large scale voluntary transfers (LSVTs) to specially created housing associations. I attempt to place stock transfer within the wider policy context of changes in the State’s role in the provision of services; and changes in organisational development, reflected in transfer structures; and the wider shift in responsibility for the delivery of public services to the private sector. I examine theories that explain the development of the State’s role in housing and discuss their relationship to LSVT. As discussions involving ‘the State’ must recognise the different interests and motivations of Central and local government, I examine action taken to promote and achieve stock transfer by local authorities and central government. The research method adopted to achieve my aims includes both analysis of existing data and the collection of new data through a sample survey of twenty LSVT associations. I approached the research in five stages: background research – including reviewing literature and examining the legal and regulatory framework for LSVT; identifying the characteristics of early LSVT associations; selecting a sample of twenty selected associations for in-depth survey; conducting in-depth interviews with the twenty associations; analysing and tabulating the data collected and drawing conclusions. The survey focuses on staff perceptions of the reasons for transfer and why politicians and tenants accepted the change; organisational and management change brought about by the new landlords; and the changes brought about by private sector involvement, including new personnel brought in to help run the organisations and the influence of private funders. I attempt to draw key conclusions about LSVT associations from the evidence presented. Finally, I examine how early LSVTs paved the way for a wider stock transfer programme, including transfers by inner-urban authorities and large city councils. I argue that while LSVT may have been developed in response to the financial pressure upon local authorities from the early 1980s onwards, the process has created a new style of business orientated social landlord.

Climate change is recognised worldwide as a major concern, with serious repercussions. Observed temperature rises are increasingly being linked to human activity. Evidence indicates a strengthening vehicle-orientated society, with negative implications for climate change. To achieve the targets to mitigate climate change, governments have undertaken a series of environmental reforms to their policy measures. Pricing signals, designed to shape individuals' behaviour with incentives/disincentives, are provided via government-led fiscal policy. This research focuses upon those measures targeting individuals' future vehicle purchasing behaviour. Environmental savings are achieved by purchasing a relatively lower emission vehicle than the vehicle most often used at present. This research explores the weighting of situational and psychological factors shaping individuals' future vehicle purchasing decisions. The modifications to current taxation policy, deemed necessary to start thinking about, seriously think about and definitely buy a lower emission vehicle, are also investigated. The potential influence of hypothetical policy measures to further encourage a lower emission vehicle purchase is also considered. To address the aforementioned research topics, a postal questionnaire survey was administered to a sample of Scottish motorists. 1,336 responses were collected, equating to a response rate of 28.3%. Cluster analysis was applied to the overall population, and the differences subsequently evaluated. For the Scottish motoring population, situational factors were generally more influential than psychological factors in informing individuals' future vehicle purchasing decisions. Disaggregating the population into segments indicates variation in the factors driving individuals' future vehicle purchasing behaviour. Revised behavioural models were presented to visually demonstrate the differences. The strength of psychological constructs provides insight into the preparedness of individuals to purchase a lower emission vehicle, and thus the type of policy interventions most effective in influencing future vehicle purchasing behaviour. Results indicate a sizeable potential for using vehicle excise duty, value added tax, hydrocarbon oil duty and the plug-in car grant to shape individuals' future vehicle purchasing decisions towards a lower emission vehicle. This reported influence was generally found to increase as individuals become more prepared to purchase a lower emission vehicle in the future. Tax incentives were identified as more influential than disincentives in shaping individuals' future vehicle purchasing behaviour towards a lower emission vehicle. This is particularly so as individuals become more prepared to purchase a lower emission vehicle. In keeping with established psychological theory regarding behaviour change, individuals were found to require a progressively greater tax incentive/disincentive to advance through the behaviour change process towards purchasing a lower emission vehicle. Those individuals most prepared to purchase a lower emission vehicle were generally found to require the lowest incentive/disincentive to change their future vehicle purchasing behaviour towards such a vehicle. Motorists were found to be most influenced by hypothetical policy measures reoccurring throughout the period of vehicle ownership, followed closely by those present at the time of vehicle acquisition. Across all segments, a proposed ‘feebate' system presents the best opportunity for shaping future vehicle purchasing behaviour towards a lower emission vehicle. However, the reported influence of hypothetical policy measures was largely found to increase as individuals become more prepared to purchase a lower emission vehicle. Collected results are discussed in context of past research and current transport policy. A series of recommendations, directed towards both future researchers and policy makers, are then presented.

The United Kingdom (UK) electricity generation industry is shrouded in uncertainty, particularly as a consequence of new environmental regulations. Using a longitudinal case study, this thesis analyses how, following the introduction of the Large Combustion Plant Directive – LCPD, the industry used investment appraisal techniques to strategically mobilise power and effect change to UK policy. Through the use of interpretive research and drawing on the ontological framework of structuration, this thesis will interpret how actors1 used the rules and resources associated with investment appraisal techniques to manage the balance of power. Although the LCPD directive was a ‘command and control’ regulation, the generators were able to use the existence of contradictory structures, the absence of resources, and weak rules to negotiate a significant consultation process to effect policy change. Their actions resulted in the introduction of the 2011 Whitepaper ‘Energy Market Reform’ (DECC, 2011). This study will analyse those actors who take part in the decision making process by examining how environmental directives, such as the Pollution and Prevention Control (PPC) and the LCPD, were implemented within the UK and their consequences. This process will reveal how industry reluctance to commit capital to developing new technology resulted in the threat of blackouts in the UK, creating a debate as to who would supply the £200 billion capital required. This study identifies the complex struggle for power within the generation industry set within the paradox of achieving strict environmental targets, creation of profit and the security of supply, with the winner being determined via the investment decision process. International generators demonstrated a ‘wait and see’ approach to investment, using accounting techniques to justify a strategic policy that placed them in a position of power. This power was then used as a means to provoke a discourse that enabled the generators to establish their own needs. This is not a direct study of accounting change, but of how existing accounting structures were used to facilitate a process of political and social change to establish new business models within liberalised industries; thereby lending great significance to some of the rules and resources connected to accounting.

No description available.

The main aim of this study is to identify and analyse, both qualitatively and quantitatively, the potential effects of the World Trade Organization (WTO) on the Libyan Banking sector using DEA and Panel data regression methods. Libya has not gained its full membership of the WTO yet. However, Libya has gained observer status since 2004. Since Libya has not yet joined the WTO, it is not possible to know its impact by addressing the period pre and post joining the WTO. Therefore, to know the final expected impact of the WTO on the Libyan banking sector, two ways are selected. The first one is by assessing the rules of the WTO and review the existing literature regarding the impact of the WTO on banking sector to draw some conclusions on the Libyan banking sector. The other one is by using the efficiency of banks as a means to know the impact of the WTO on the Libyan banking sector. The efficiency was empirically measured using DEA method and two types of comparison: Common Efficient Frontier (CEF) and National Specific Frontier (NSF). The using of DEA method allows the comparison of efficiency of Libyan banks to those in existence in countries similar to Libya (Gulf countries) that have already gained membership of the WTO .Also, to check whether there have been any changes in the general trend of efficiency since these countries have joined the WTO. Finally, in order to find out how to improve the bank efficiency, the determinants of bank efficiency were investigated using panel data regression and the WTO was used as one of the determinants of bank efficiency. The main finding from a sample inclusive of GCCs banks with Iwithout Libyan banks under CEF comparison, reveal that the mean efficiency score of the Libyan banking industry is not dissimilar to the GCC country's mean. Since these results are different to those obtained in the existing literature and also to know the implication of WTO on GCC countries as more homogeneous countries, the analysis was repeated without Libya using the CEF comparison. However, the type of comparison (NSF) produced significantly different results, in particular the ranking of the countries. Overall, The results of DEA which were supported and complemented by using the Panel data regression method show that there is no clear evidence that the efficiency of Gulf countries has been improving since joining of the WTO. The reason behind this might be the decreasing level of efficiency in these countries relative to developed countries When the Gulf countries joined the WTO. Furthermore, the Gulf countries have not yet completely opened their banking sectors and still discriminate against foreign banks. Also, they still enjoy the exemption given to developing countries. Therefore, Libya's joining the WTO as a full member- at the present time -might affect the banking sector negatively. Regarding to the impact of banking reform on Libyan banks efficiency, although the results were ambiguous and depending on using CEF or NSF type, the results of NSF which is supported by previous literature showed that there was progress, therefore, efficiency was improved after the reform had started.

In the light of the global financial crisis of 2007 which is considered to be the worst since the Great Depression of the 1930s, it is evident that no bank is too big to fail. There have been a number of corporate failures in recent years, including instances in the United Kingdom. These events, therefore, motivated this study in terms of emphasising the need to apply financial distress prediction models to examine the performance of UK banks. This work aims at empirically examining and analysing the performance of UK retail banks amid the financial crisis, covering three periods: before, during and afterwards. In doing so, the accuracy of Altman‘s financial ratios of early warning statistical distress prediction models was examined. Both primary and secondary data were employed to find answers to the research questions. The first result indicated that Altman‘s ratios: leverage, solvency and turnover ratios significantly discriminated the three crisis periods. Yet, Altman‘s model had high misclassification error rate and less predictive power during the crisis than before and afterwards. With regards to the performance of banks, the result revealed that banks performed better in terms of profitability, liquidity and activity ratios for pre and post crisis than during the crisis. Additionally, researchers have become increasingly interested in linking marketing variables such as satisfaction, trust and loyalty to financial performance. While profitability ratio is commonly confirmed to be a significant predictor of performance, loyalty constructs are not generally assessed in this manner in the profit link framework. This implied that loyalty has not been shown to have a direct impact on financial performance. Hence, since both loyalty and profitability play vital roles to determine the success of banks, they should be fully considered before performance is established. In this thesis, an extension of past profit link research to include nonfinancial variables was considered. This research examined the link between satisfaction, trust and loyalty, and overall financial performance. The overall empirical findings provided evidence of a positive relationship of loyalty and levels of relative profitability. Nevertheless, satisfaction and trust were not statistically related to profitability in the UK retail banking sector.

This is a case study on PIFRA (Project to Improve Financial Reporting and Auditing) in the public sector of Pakistan. It investigates the process of implementation of New Accounting Model (NAM) and SAP as a reform imitative to overhaul the century old archaic financial management system. This study has three dimensions: implementation of SAP as an integrated system for budgeting and accounting offices at all levels of Government; introduction of modified cash basis of accounting; and the World Bank as a meaningful force for change. New institutional sociology (NIS) and institutional logic have been employed to analyse the process of change at macro as well as micro level. The concepts of isomorphisms in general and cognitive-cultural in particular, legitimacy, decoupling, and agency have been used to understand and assess the extent of institutionalization. The analysis has been divided into three areas: SAP implementation, organizational change, and training. In SAP implementation, separation of audit and accounts, duality of control and role of the World Bank have been analysed to comprehend the issues and their implications for institutionalization. In organizational change, change management as a component of the project, role of the PricewaterhouseCoopers as an architect of NAM and as a supervisory consultant, technical staffing, core team and resistance have been evaluated through NIS. In training, multiple perspectives of training and its distinct relation with institutionalization have been investigated. It is a qualitative study with interpretive approach. Data has been collected through semi-structured interviews, project documents and reports generated by the World Bank and the project management team. The thesis seeks to contribute in terms of its three dimensions and the use of NIS and institutional logic to have a broader picture of the change. Moreover, the identification of training as a driving factor in institutionalization and the role of accountants in post-SAP implementation scenarios also make a contribution to the accounting literature. Contributions towards policy and practice have been made in terms of advice for the World Bank, Government and practitioners when undertaking such projects in future.

Consumer choice has become a key reform trend in the provision of public services in Western European welfare states. Research on the welfare effects of choice reforms – including greater provider choice for the individual and competition between providers – has largely focused on economic evaluations of the extrinsic (outcome) effects of choice, thereby leaving its intrinsic, or procedural, value unexplored. The overarching objective of this thesis is to investigate the welfare effects of choice in the provision of health and long-term care (LTC) and their implications for equity. The thesis utilises the subjective well-being approach – incorporating both procedural and outcome utility from choice – to measure welfare effects based on quantitative analysis of survey data. Welfare effects and equity implications are examined in relation to: competition in health care in the English National Health System (NHS); choice of care package in the German long-term care system; and individual preferences and views of choice as a priority in the provision of health care in three NHS countries. The thesis argues that both service characteristics – extent of competition, information availability, technical complexity – and individual capabilities – ability to process information, capacity to manage transaction costs, availability of private support – influence the benefits that individuals derive from choice. Results suggest that choice policies have an overall positive welfare effect in both health and long-term care. However, while direct evidence of outcome improvements is found, the empirical analysis only finds indirect evidence of procedural utility. Middle class characteristics, primarily income and education, are found to have a positive influence on the benefits of choice, amounting to evidence of inequitable facets of choice policies. The middle class further exhibits preferences for choice over and above other characteristics of health care systems. Overall, this thesis advocates a holistic approach to the analysis of choice, incorporating its procedural value and paying particular attention to the equity implications of the choice situation, information processing and differences in available options as well as preferences for choice.