Spatial Public Goods. 1: Theory

1987 ◽  
Vol 19 (3) ◽  
pp. 331-352 ◽  
Author(s):  
Y Y Papageorgiou
Keyword(s):  
Public Goods ◽  
Public Investment ◽  
Spatial Context ◽  
Private Goods ◽  
The Public ◽  
Land Rents ◽  
Absentee Landowners ◽  
New Feature ◽  
The Impact ◽  
Explicit Comparison

This is the first of a two-part series of papers dealing with public goods in a spatial context. Public goods here are treated as being intentional spatial externalities. In that context, the new feature to be dealt with is optimal public investment, the impact of which diffuses, somehow, over space. First, the landscape, the spatial structure of the public good, and the decision framework are described both for the individuals involved and for the planner. Then, the issue of decentralisation is discussed in the case where land rents go to absentee landowners. An explicit comparison between private goods, public goods, and externalities in a spatial context follows, and the first part ends with the problem of allocating land to public goods. The second part deals with some conceptual applications.

Evaluation of the impact of public investment programs on social and economic performance of territories

2019 ◽  
pp. 109-123
Author(s):  
I. E. Limonov ◽  
M. V. Nesena
Keyword(s):  
Bayesian Modeling ◽  
Positive Impact ◽  
Public Investment ◽  
Difference In Differences ◽  
The Public ◽  
Export Activity ◽  
Regional Investment ◽  
The Difference ◽  
The Impact ◽  
Development Institution

The purpose of this study is to evaluate the impact of public investment programs on the socio-economic development of territories. As a case, the federal target programs for the development of regions and investment programs of the financial development institution — Vnesheconombank, designed to solve the problems of regional development are considered. The impact of the public interventions were evaluated by the “difference in differences” method using Bayesian modeling. The results of the evaluation suggest the positive impact of federal target programs on the total factor productivity of regions and on innovation; and that regional investment programs of Vnesheconombank are improving the export activity. All of the investments considered are likely to have contributed to the reduction of unemployment, but their implementation has been accompanied by an increase in social inequality.

Energy R&D: in tepid pursuit of collective goods

1979 ◽  
Vol 33 (2) ◽  
pp. 149-175 ◽  
Author(s):  
Davis B. Bobrow ◽  
Robert T. Kudrle
Keyword(s):  
Political Economy ◽  
Public Goods ◽  
Liquid Fuel ◽  
Liquid Fuels ◽  
Private Goods ◽  
The Public ◽  
Collective Goods ◽  
Before And After ◽  
History Of ◽  
Political Economy Approach

Continued dependence on expensive imported liquid fuels puts stress on the relations among and the domestic performance of the members of OECD. Coordinated energy R&D could in principle lessen those stresses and also benefit other liquid fuel consumers. A political economy approach can help explain the tepid pursuit of this possibility in two ways. First, it can clarify the reasons for the weak collective action energy R&D record of the members of the OECD both before and after the oil events of 1973. Second, it can demonstrate and identify the nature of the undersupply of the public good of energy knowledge. The history of this area illustrates several general obstacles to the provision of public goods in realistically complex political situations. These include the uncertain and distant nature of commitments to actually deliver collective goods in the absense of self-enforcing agreements, unwillingness to jeopardize possible future private advantages, and the tendencies to link provision of particular public goods to cooperation by other parties with the provider on a host of other matters. In effect, the attempts of particular statesmen to tie energy R&D cooperation to other issues reinforce tendencies to view the choices not as ones about the level of provision of public goods, but rather as ones about national shares of private goods—economic, military, and political.

scholarly journals The Risk of Long-Term Financing of Public Investments

2019 ◽  
Vol 2 (2) ◽  
pp. 42
Author(s):  
Krzysztof Jarosiński ◽  
Benedykt Opałka
Keyword(s):  
Public Debt ◽  
Negative Impact ◽  
Capital Expenditure ◽  
Public Investment ◽  
Point Of View ◽  
Risk Category ◽  
Investment Projects ◽  
The Public ◽  
Public Investments ◽  
The Impact

The risk of financing of public investments is a phenomenon that accompanies development processes in a permanent manner. Investments in the public sector are generally characterized by relatively long implementation cycles and involve significant capital expenditure and the necessity of often parallel running a large number of investment projects. In the processes of this type of investment a specific risk category of financing of this type of investment is quite often taken into account, given that such projects are financed mainly from budgetary resources: the state budget and self-government budgets. Economic practice indicates an importance of the proper selection of the method of the financing of new investments and taking into account new funds from various sources. This situation is often the result of a shortage of budgetary resources from which public investments could be financed. There may be difficulties in financing investments resulting from the emergence of a risk of budgetary deficit and the public debt. This risk may have a negative impact on investment decisions and may adversely affect the future course of ongoing investment projects. The purpose of the paper is to undertake studies on the conditions of financing investments from the point of view of the possibility of budget deficit and public debt and the impact of changes in the financial situation on the overall level of risk of public investment. The text is an invitation to undertake a broader discussion on financing public investments in conditions of limited public financial resources.

scholarly journals Konsep Uang: Ekonomi Islam VS Ekonomi Konvensional

2015 ◽  
Vol 15 (1) ◽  
pp. 70-75
Author(s):  
Santi Endriani
Keyword(s):  
Public Goods ◽  
Private Goods ◽  
The Public ◽  
Cambridge School

In Islamic economics, the concept of money is very clear that money is a medium of exchange in muamalah, instead of capital (commodities). That money is objected that are approved by the public as an intermediary tool to hold the exchange or trade. Differences concept of money in Islamic and conventional economics are on the money that is not identical to the capital, the money is public goods, capital is private goods, money is a flow concept, and capital is a stock concept in the concept of money in Islam. While the conventional concept of money in the currency identified with capital money (capital) are private goods. Money (capital) is a flow concept for Fisher, and money (capital) is a stock concept for Cambridge School.

scholarly journals Public Policy Public Goods and the Impact of the pandemic crisis with special respect to the case of Greece

2021 ◽  
Author(s):  
EMMANOUIL MAVROZACHARAKIS
Keyword(s):  
Welfare State ◽  
Public Goods ◽  
Public Investment ◽  
Active Role ◽  
The State ◽  
Political Polarization ◽  
Right Wing ◽  
Role Of The State ◽  
Special Respect ◽  
The Impact

People expect the state to provide them with a social security net. Whatever its defects, whatever the virtues of the private sector, no structure other than the state can today provide citizens with the basic public goods. Under right-wing governments, a very active role of the state is not expected. Also, is nor expected the introduction of a serious program of public investment and demand-boosting to stimulate the national economy and enter into a virtuous circle of recovery. Today many countries like Greece, which passed the economic crisis with drastic cuts in its traditionally deficient welfare state and its chronic underinvestment in public goods in key areas such as health, have to respond directly to the pandemic crisis. This fact leads in the short term to a revival of the debate on strengthening state powers and especially in strengthening public health systems. Political polarization is expected in the period after the end of the pandemic crisis focusing on welfare state issues. This, most likely, will leave plenty of space for social democratic and Keynesian approaches. In several countries like Greece, the right-wing governance will come under pressure leading even to rifts in its hegemony.

scholarly journals Calculation of Impact of Construction Investment to the Public Infrastructure

2017 ◽  
Vol 17 (1) ◽  
pp. 31-36
Author(s):  
Martin Ferko ◽  
Jan Česelský ◽  
Zbyněk Proske
Keyword(s):  
Decision Making ◽  
Computational Model ◽  
Public Administration ◽  
Public Investment ◽  
Land Development ◽  
Public Infrastructure ◽  
The Public ◽  
New Construction ◽  
Community Facilities ◽  
The Impact

Abstract The paper shortly introduces and describes a computational model that illustrates the impact of land development construction investment in the form of creating new needs for public infrastructure and community facilities in the territory. New construction investment may also initiate other construction investment, which also increases the demands on ensuring the capacity of public infrastructure. For public administration (local and regional), the created model can facilitate preparation, decision-making and management of public investment in the territory while respecting the 3E principle.

scholarly journals Public Goods: Re-examination, Related Concepts and Distinctions

2021 ◽  
Vol 251 ◽  
pp. 03062
Author(s):  
Jing Chen
Keyword(s):  
Public Goods ◽  
Empirical Evidence ◽  
Work Experience ◽  
Final Part ◽  
Private Goods ◽  
The Public ◽  
Academic Literature ◽  
The Government

The essay is aiming at answering‘How do economists distinguish between public goods and private goods? What problems does the existence of public goods pose for the market? How might the government intervene to address the problems of public goods? Illustrate with an example or examples drawn from your work experience or the academic literature’. This essay consists of three parts exploring different issues related to the resolution of public goods and externalities problems. The first section is to identify the public goods and private goods from an economic scope. Whereas the second part is to explore the possible obstacles the public goods would pose for the market. And the final part is to figure out how government would resolve the addressed problems by intervention and use valid empirical evidence to support the effectiveness of these intervention and actions.

Corporate social responsibility and financial performance nexus

2018 ◽  
Vol 9 (3) ◽  
pp. 301-328 ◽  
Author(s):  
Joseph Dery Nyeadi ◽  
Muazu Ibrahim ◽  
Yakubu Awudu Sare
Keyword(s):  
Firm Performance ◽  
Financial Performance ◽  
Positive Impact ◽  
Public Investment ◽  
Data Set ◽  
Content Type ◽  
The Public ◽  
Firm Financial Performance ◽  
Corporate Social ◽  
The Impact

Purpose The paper aims to investigate empirically the impact of corporate social responsibility (CSR) on financial performance in South African listed firms. Design/methodology/approach The paper uses panel corrected standard errors to estimate the effect of CSR on firm financial performance and thus addresses contemporaneous cross-correlations across the panel cross sections. The study uses a broad base measure of CSR created by the Public Investment Corporation data set and the combination of accounting and economic means of measuring firm financial performance. Findings CSR is found to have a strong positive impact on firm financial performance in South Africa. When CSR is decomposed further into its major components, governance performance positively impacts a firm’s financial performance with no evidence of any relationship between social components and firm performance and between environmental components and firm performance. The positive impact of CSR on firm performance is greater in big firms. At the industry level, CSR is noticed to impact positively on financial performance in the extractive industry via good governance and responsible environmental behaviors. It however has no impact on firm performance in the financial sector. Research limitations/implications The results should be interpreted with caution and some limitations. Due to the limiting nature of the Public Investment Corporation data set (the survey was carried out on selected firms on the Johannesburg Stock Exchange for three years spanning from 2011 to 2013). This resulted in a sample of 56 firms. It is therefore very problematic to generalize the findings to a larger population over a long period of time. This is more limiting especially on individual sector studies where the sample has further shrunk to a smaller sample. As a result of the smaller sample size, the authors were unable to explore some other sectors which could have given more revealing findings. The authors recommend that future research should explore other data sets or use primary data approach that can allow for more sample size and elongated time period for a more holistic view and for easy generalization of the findings. The authors also identify an important lacuna necessitating further research effort. It would be interesting to empirically examine the threshold point of firms’ size beyond which CSR damages firms’ performance. Knowledge of this will guide managers of firms in their strategic CSR decision. Practical implications This study does not only serve as a reference work for subsequent investigations into the impact of CSR on firm performance in sub-Saharan Africa but also serves as a guide to policymakers on the financial impact of CSR adoption. Originality/value This study is one of the pioneering works that comprehensively examines the effect of CSR on financial performance amongst South African firms via size and sector and also controls for contemporaneous cross-correlation effects from the firms in the panel set.

scholarly journals Exploitation by cheaters facilitates the preservation of essential public goods in microbial communities

2016 ◽  
Author(s):  
Clara Moreno-Fenoll ◽  
Matteo Cavaliere ◽  
Esteban Martinez-Garcia ◽  
Juan F Poyatos
Keyword(s):  
Public Goods ◽  
Microbial Communities ◽  
Experimental System ◽  
Lag Phase ◽  
The Public ◽  
Common Resource ◽  
The Cost ◽  
The Impact ◽  
Spontaneous Mutants

How are public goods maintained in bacterial cooperative populations? The presence of these compounds is usually threatened by the rise of cheaters that do not contribute but just exploit the common resource. Minimizing cheater invasions appears then as a necessary maintenance mechanism. However, that invasions can instead add to the persistence of cooperation is a prospect that has yet remained largely unexplored. Here, we show that the detrimental consequences of cheaters can actually preserve public goods, at the cost of recurrent collapses and revivals of the population. The result is made possible by the interplay between spatial constraints and the essentiality of the shared resource. We validate this counter-intuitive effect by carefully combining theory and experiment, with the engineering of an explicit synthetic community in which the public compound allows survival to a bactericidal stress. Notably, the characterization of the experimental system identifies additional factors that can matter, like the impact of the lag phase on the tolerance to stress, or the appearance of spontaneous mutants. Our work emphasizes the unanticipated consequences of the eco-evolutionary feedbacks that emerge in microbial communities relying on essential public goods to function, feedbacks that reveal fundamental for the adaptive change of ecosystems at all scales.

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