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Full-Text Articles in Social and Behavioral Sciences
Private Savings In Transition Economies: Are There Terms Of Trade Shocks?, Abdur Chowdhury
Private Savings In Transition Economies: Are There Terms Of Trade Shocks?, Abdur Chowdhury
Economics Faculty Research and Publications
Economic agents in the transition economies are subject to tight credit constraints, which are more pronounced during bad state of nature. Thus, adverse shocks to commodity prices in the world market can force them to reduce savings by a larger amount than they would otherwise have. Empirical analysis using a dynamic panel model and data from 21 transition economies confirm that most of the determinants of savings identified in the literature also apply to the transition economies. The transitory component in the terms of trade have a larger positive impact than the permanent component. This reflects the lack of access …
What Determines Public Education Expenditures In Russia?, Inna Verbina, Abdur Chowdhury
What Determines Public Education Expenditures In Russia?, Inna Verbina, Abdur Chowdhury
Economics Faculty Research and Publications
Recent studies suggest that the allocation of expenditures in education is important for growth. The state of public education spending in many transition economies highlights the need for an assessment of the nature of education expenditures in these countries. This paper attempts to fill this gap in the literature by estimating the determinants of education expenditures in the Russian Federation. Results from panel data analysis show that revenue and the student-population ratio have a positive impact on education expenditures while the effect of population density is negative. Three regional variables also show significant impact. The income and price elasticity of …