Thesis (M.P.A.)--University of Hong Kong, 1996. / Includes bibliographical references (leaf 106-109).

Thesis (M.P.A.)--University of Hong Kong, 1996. / Includes bibliographical references (leaves 106-109). Also available in print.

No / The current austerity in government spending has far reaching implications, not only for individuals but for the context in which a welfare state is perceived. The position has been reached at the same time as equality legislation makes some groups more visible. This article is an early attempt at drawing out the relationship between lesbian, gay and bisexual (LGB) people and welfare spending cuts, made observable because of legislation requiring impact assessment. This article draws on research into impact prepared by the author, in affiliation with the Bradford LGBT Strategic Partnership, and considers LGB claims to welfare and to citizenship.

For a long time economic tax equalization system in Sweden has been creating dispute between Swedish communities. Despite the main purpose of the system - to reduce disparities and create equal economic opportunities for all communities – some regions were not satisfied. The main purpose of this study is to determine what extant has equalization tax on investment spending of Danderyd municipality during 2000-2010 year period. The study is based on annual reports and personal interviews. The theoretical frame of the investigation is founded on Fjertorp's classification of investments and public choice theory. The investigation shows that there were no significant changes neither in investment spending or equalization tax during 2000-2010 period, even after the last changes of economic tax equalizations system in 2005. This study also showed that the equalization tax had no impact on investment spending in Danderyd community during 2000-2010 year period. In my opinion negative attitude towards tax equalization system occurs because of ideology and politics as whole.

Nearly every company executive strives to achieve rapid growth and expansion for their firm, and does so in an almost single-minded manner. This paper focuses on the seldom discussed or accounted for negative side of rapid growth, namely the growing pains experienced by companies as their larger size creates a variety of challenges, such as increased bureaucracy, financial management, and maintaining efficiency. Specifically, this paper began with the Forbes 100 Fastest-Growing Corporations in 2011 and created a dataset of their corporate information over the five-year period after their recognition (2011-2015). The dataset was analyzed in order to identify the negative factors that those companies experienced due to their rapid growth. The goal of this was provide a roadmap for expansion-minded companies to strategize about their future growth.

1 Abstract Efficiency is an important concept for performance evaluation of decision- making units. This thesis studies efficiency of public spending and methods of its estimation. Firstly, a wide range of efficiency estimators are defined and compared. For the public spending efficiency analysis the most convenient es- timator is found to be the cost frontier approach of the Stochastic Frontier Analysis (SFA). The second part of the thesis contains efficiency analysis of public spending in the 14 regions of the Czech Republic in the years 2003-2014. For the analysis current expenditure of regional offices is used as the input. Based on the investigation of regional services output index is formed and employed in the analysis. The estimation is performed using the cost frontier approach of the SFA as the main method. Various other efficiency estimators are then applied to the data in order to study robustness of the results. The thesis further discusses relative ranking of the regions and time evolution of efficiency scores using different assumptions and variety of methods. Lastly, several potential effects on the estimated efficiency are considered and analysed. JEL Classification D24, H41, H72 Keywords efficiency, regions, public expenditure, Czech Republic Author's e-mail verca25.vrana@seznam.cz Supervisor's e-mail...

The topic of fiscal policy has been long neglected in terms of fiscal policy's interdependence with other main macroeconomic variables. Presented thesis therefore analyses the validity of different fiscal policy models for the case of Czech Republic. Dynamic stochastic general equilibrium (DSGE) framework is used throughout the thesis. Different fiscal policy rules are put into otherwise identical - benchmark - model and the models are compared to each other and to the benchmark model. The analysed fiscal policy models are an acyclical, counter- cyclical, two pro-cyclical and dichotomous spending models. We find that the most plausible fiscal policy rule is of pro-cyclical type and closely follows the model of Alesina et al. (2008). The model assumes that interest groups can steal part of government income through corruption and voters cannot observe it, so they demand maximum fiscal spending in the good times. The logic of this model is in accordance with the current state of fiscal and economic behaviour in Czech Republic.

Thesis advisor: Thomas Chemmanur / My dissertation is comprised of three chapters. The first chapter studies the impact of government spending on corporate innovation output. By exploiting the changes in Senate committee chairmanships as a source of exogenous variation in state-level federal government expenditures, I find that firms headquartered in states with increases in government spending significantly reduce their innovation output, as measured both by patent count and patent citations. These reductions are mostly concentrated in industries that need more labor input for innovative activities and firms headquartered in states with lower unemployment rates. I also analyze three possible channels through which an increase in government spending may affect innovation output: resource reallocation by corporations and individuals from innovative to non-innovative activities; partial movement of innovative activities from the corporate to the government sector; and a reduction in inventor productivity due to a labor-leisure trade-off. My evidence provides the strongest support for the resource reallocation channel. In the second chapter, co-authored with Thomas Chemmanur and Karthik Krishnan, we analyze the relationship between the human capital or “management quality” of firms and their long-run performance, using panel data from the BoardEx database on firms' top management characteristics and a management quality index constructed using common factor analysis on individual proxies for various aspects of management quality. We control for the potential endogenous matching between firm and management quality using a plausibly exogenous shock to the supply of new managers as an instrument. Using this instrument, we find a causal relationship between firms' management quality and future operating performance, market valuations, and stock returns. In the third chapter, co-authored with Thomas Chemmanur, Karthik Krishnan, and Qianqian Yu, using panel data on top management characteristics and a management quality factor constructed using common factor analysis on individual management quality proxies, we analyze the relation between the human capital or “quality” of firm management and its innovation inputs and outputs. We control for the endogenous matching between firm and management quality using a plausibly exogenous shock to the supply of new managers as an instrument, thereby finding a causal relationship between management quality and innovation activities. We show that higher management quality firms achieve greater innovation output by hiring more and higher quality inventors. / Thesis (PhD) — Boston College, 2016. / Submitted to: Boston College. Carroll School of Management. / Discipline: Finance.

Nas últimas décadas diversas reformas no financiamento da educação foram realizadas no Brasil e no exterior, além da adoção de políticas públicas de transferências de recursos, almejando melhorar o desempenho dos alunos e a qualidade da educação. O objetivo deste trabalho é avaliar o impacto dos programas de descentralização de gasto público na educação, sobre a variação do desempenho obtido na Prova Brasil entre os anos de 2005 e 2007, pelas escolas públicas da rede de ensino fundamental da Prefeitura do Município de São Paulo. Analisamos o Programa Dinheiro Direto na Escola (PDDE), criado pelo governo federal em 1995, além do Programa de Transferência de Renda Financeira (PTRF), implantado no final de 2005 pela Prefeitura do Município de São Paulo. Esses programas transferem recursos financeiros diretamente para as escolas, que tem o poder de decidir como utilizar esses repasses. Os dois programas possuem múltiplos pontos de corte, conforme o número de matrículas, para efeito de determinação do valor das transferências de recursos. Em uma primeira abordagem, são calculadas as médias da variação da nota das escolas em torno dos pontos de corte. Para o PTRF são observadas melhores variações de nota, para as escolas nas faixas superiores de tratamento, principalmente para a 4ª série, já para o PDDE os resultados não indicam efeitos positivos de mudança de faixa de tratamento. Empregando a metodologia de mínimos quadrados ordinários, apenas o coeficiente do valor per capita do PTRF apresentou efeito positivo e significativo sobre a variação da nota da Prova Brasil. Posteriormente, com a regressão descontínua Sharp paramétrica e não-paramétrica, são obtidos resultados positivos para as variações das notas da Prova Brasil da 4ª e 8ª série, caso as escolas estejam no início de uma faixa de tratamento superior do PTRF. Para o PDDE, poucos casos apresentaram impactos positivos e significativos; quando acontece a alteração de faixa de tratamento, alguns resultados obtidos sugerem que o programa federal não possui efeito. / In recent decades various reforms in education funding were implemented in Brazil and abroad, beyond the adoption of public transfers of resources, aiming to improve student achievement and education quality and student performance. This paper evaluates the impact of decentralization programs of public spending in education, about the variation of performance in standardized test (Prova Brasil) between 2005 and 2007, the public school system of elementary education belonging São Paulo municipal administration. We analyzed the Programa Dinheiro Direto na Escola (PDDE), created by the federal government in 1995, and Programa de Transferência de Renda Financeira (PTRF), implemented in late 2005 by the São Paulo municipal administration. These programs transfer financial resources directly to schools, which has the power to decide how to use these transfers. Both programs have multiple cut points, according to enrollment, to determine the value of the distribution of resources. In a first approach, the averages are calculated varying the note of a fixed amount of schools near the cutoff. For PTRF and are best observed variations of note, top bands from schools in treatment mainly for the 4th grade, as for the PDDE, the results do not indicate positive effects of changing band treatment. Employing the method of ordinary least square, only the coefficient of per capita value for PTRF showed positive and significant effect on the variation of the note in standardized test. Later, with the regression discontinuity Sharp parametric and nonparametric, positive results are obtained for variations of the notes of standardized test, 4th and 8th grades, where schools are at the beginning of a range of superior treatment of PTRF. For the PDDE, few cases were positive and significant when the change occurs in the range of treatment, some results suggest that federal program has no effect.

En 1955, la commission Maspétiol du gouvernement français faisait un bilan économique négatif de la colonisation en Algérie. Ce bilan a été analysé par des historiens de l’économie sous l’angle des coûts/bénéfices pour la métropole et la colonie. Selon ce courant dit des coûts de la colonisation, les investissements et dépenses publiques effectuées en Algérie ont été financées par la métropole et par conséquent supportés par le contribuable métropolitain. La thèse défendue ici est quela principale cause de la négativité du bilan réside dans la structure de l’économie coloniale qui ne permettait pas de dégager assez de recettes publiques pour financer le développement économique et social, lequel nécessita l’appui financier de la métropole (plan de Constantine, 1958). Le bilan est dès lors envisagé comme le résultat de politiques poursuivies sur l’ensemble de la période coloniale, plus précisément de l’intervention de l’État dans l’activité économique depuis les débuts de la colonisation.Ce travail, en s’appuyant sur la littérature sur le bilan économique et plus largement sur l’économie de l’Algérie coloniale ainsi que sur des données d’archives inédites, montre que la politique dite de mise en valeur fut préjudiciable aux niveaux économique et social (1830-1900). Les mesures budgétaires,législatives et monétaires appliquées dans le cadre d’investissements publics économiques et sociaux ont été désavantageuses pour les finances publiques d’une part, et pour le développement humain de la population autochtone d’autre part. Les équipements réalisés (essentiellement dans les chemins de fer)ont plombé les dépenses publiques de la colonie sans contribuer à faire baisser les coûts de transport.L’investissement privé dans la viticulture d’exportation, soutenu par l’État, n’a pas participé au financement des recettes publiques en raison de l’absence d’imposition. Quant à la politique menéeenvers la population autochtone, elle s’est traduite par la dégradation de son patrimoine suite auxopérations d’expropriations des terres, ainsi qu’aux amendes et à la fiscalité appliquées parl’administration à son égard. Est posée ensuite la question contrefactuelle de savoir ce qu’aurait étél’économie algérienne en l’absence de la colonisation. Pour y répondre, il est supposé que le systèmecolonial se matérialisait dans la discrimination entre autochtones et européens, dont le fondement légalétait le code de l’indigénat. Sous cette hypothèse, la question se reformule ainsi : la croissanceéconomique (Pib/tête) de l’Algérie aurait-elle été plus importante si les dépenses publiques d'éducationet de santé n'avaient pas été discriminatoires entre indigènes et européens ? La base de donnéesconstruite pour tenter de donner une réponse empirique à cette question identifie les dépensespubliques d’éducation et de santé et les répartit entre les deux types de population sur la période 1901-1937. Les données obtenues illustrent clairement au niveau descriptif le lien entre la politiquecoloniale et le bilan (répartition des dépenses d’éducation et de santé entre autochtone et européen etrevenu par tête). Mais sur le plan économétrique, les obstacles à l’établissement d’une relation decausalité entre les dépenses en capital humain et la croissance économique ont empêché cetterecherche d’arriver au stade de la simulation contrefactuelle. Cet inachèvement est expliqué, d’unepart, par l’état de l’art théorique sur la question, d’autre part, le fait que les limites des donnéesdisponibles ne permettaient pas d’aller plus loin dans la construction d’une relation de causalité, enremplaçant notamment le Pib/tête par un indicateur de développement humain... / In 1955, the Maspétiol commission of the French government made a negative economic balance sheet of colonization in Algeria. This balance sheet has been analyzed by historians of the economy in terms of costs / benefits for the metropolis and the colony. According to this current of colonization costs, the investments and public expenditures made in Algeria were financed by the metropolis and therefore borne by the metropolitan taxpayer. The thesis defended here is that the main cause of the negativity of the balance sheet lies in the structure of the colonial economy which did not generate enough public revenue to finance economic and social development, which required the financial support of the metropolis (plan de Constantine, 1958).The balance sheet is therefore envisaged as the result of policies pursued throughout the colonial period, more precisely the intervention of the state in economic activity since the beginning of colonization. This work, based on the literature on the economic balance sheet and more broadly on the economy of colonial Algeria as well as on unpublished archive data, shows that the so-called development policy was detrimental to the economic and social levels (1830-1900). Budget, legislative and monetary measures applied in the framework of public economic and social investments have been disadvantageous for public finances on the one hand, and for the human development of the native population on the other hand. The equipment realized (mainly in the railways) have stifled public spending in the colony without contributing to lower transport costs. Private investment in export viticulture, supported by the state, did not participate in the financing of public revenues due to absence of taxation. Regarding the policy towards the native population, it has resulted in the degradation of its heritage following land expropriation operations, as well as the fines and the taxation applied by the administration towards it. Is then asked the counterfactual question to know what would have been the Algerian economy in the absence of colonization. To answer, it is assumed that the colonial system materialized in discrimination between natives and europeans, whose legal basis was the code of indigénat. Under this hypothesis, the question is reformulated: Algeria's economic growth (gdp per capita) would have been greater if public spending on education and health had not been discriminatory between natives and europeans? The database constructed to try to give an empirical answer to this question identifies public expenditure on education and health and allocates them to the two types of population over the period 1901-1937. The data obtained clearly illustrate at the descriptive level the link between colonial politics and the balance sheet (dividing of education and health expenditure between natives and european and gdp per capita). But econometrically, the obstacles to establishing a causal relationship between spending on human capital and economic growth have prevented this search from reaching the stage of counterfactual simulation. This incompleteness is explained, on the one hand, by the state of the art theoretical on the question, on the other hand, the fact that the limitations of the available data did not allow us to go further in the construction of a causal relationship, replacing in particular the gdp per capita with a human development indicator. However, incompleteness of the counterfactual scenario does not invalidate the established results by qualitative study from literature and archival documents. This research paves the way by showing the possibility of a cliometric and counterfactual approach on this subject.This thesis calls for a future collaboration between economic economists and historians to construct the missing data.