Economic growth and public and private investment returns

We study the macroeconomic effects of public and private investment in 17 OECD economies through a VAR analysis with annual data from 1960 to 2014. From impulse response functions we find that public investment had a positive growth effect in most countries, and a contractionary effect in Finland, UK, Sweden, Japan, and Canada. Public investment led to private investment crowding out in Belgium, Ireland, Finland, Canada, Sweden, the UK and crowding-in effects in the rest of the countries. Private investment has a positive growth effect in all countries; crowds-out (crowds-in) public investment in Belgium and Sweden (in the rest of the countries). The partial rates of return of public and private investment are mostly positive.

Impact of Public Debt on Economic Growth in Advanced Economies

This paper examines the impact of public debt on the economic growth in advanced economies over a period of 1946 to 2009, using an econometric approach. The findings suggested an inverse relationship between public debt and economic growth in advanced economies. These relationships were found to be significant as well. Model results also show that the real GDP growth rate does not decline sharply whether the public debt-to-GDP ratio is lower than 220%. The public debt-to-GDP ratio elasticity of the real growth rate shows that an increase of 1% in public debt/GDP category above 120% decreases the real GDP growth rate in 1.13%. The negative effect of public debt is only stronger on the real GDP growth rate in advanced economies when the public debt-to-GDP ratio is above 220%. Finally, these findings lead us to reassess the austerity agenda, and the governments should devise new strategies for public debt management in advanced economies, taking into account their economic and financial performance.

National Health System Virtual Library Viability Project (Spain)

Introduction: The ICT progress and development are making the set up of virtual libraries easier, with great advantages for users in terms of immediate access to vast amounts of library information, online resources, and services. Most of the Autonomous Spanish Regions are presently working on the establishment of virtual libraries with the aim of optimising economic resources destined to subscribe bibliographic information sources and offering qualified documentary services to Public Health System Professionals. The Ministry of Health and Social Policy, an institution unifying health matters, issued this Project to study the National Health System Virtual Library creation viability, in order to guarantee relevant scientific information access equity. Objectives: - To study the National Health System (NHS) Virtual Library set up viability. - To elaborate the Spanish territory health information resource map. - To identify the appropriate technological model. - To identify the documentary services to be offered. - To identify the more optimum functional, structural model. - To identify the economic model. Method: - To create a chart organization for the project´s management. - To organize Work groups. - To elaborate a standardised survey model for the libraries of the autonomous regions. Results: - Identification of the different Autonomous Region libraries of health models. - Recommendations for the NHS Virtual Library: - Functional, structural model - Technological model - Financial-economic model Conclusions: The fact that the Virtual Library would be an invaluable space for access to quality scientific information, as well as that the minimum services could be offered to every NHS user regardless of geographical situation, is confirmed. Accordingly, we thought about three different models to develop the Virtual Library, depending on this initial analysis, which will allow us to establish the most suitable model for the Spanish National Health System, considering its economic, functional and technological recommendations. It would be necessary to do a study for the NHS Virtual Library Set Up following the recommendations arising from this Project.

Public health expenditure and spatial interactions in a decentralized national health system

One of the limitations of cross-country health expenditure analysis refers to the fact that the financing, the internal organization and political restraints of health care decision-making are country-specific and heterogeneous. Yet, a potential solution is to examine the influence of such effects in those countries that have undertaken decentralization processes. In such a setting, it is possible to examine potential expenditure spillovers across the geography of a country as well as the influence of the political ideology of regional incumbents on public health expenditure. This paper examines the determinants of public health expenditure within Spanish region-states (Autonomous Communities, ACs), most of them subject to similar financing structures although exhibiting significant heterogeneity as a result of the increasing decentralization, region-specific political factors along with different use of health care inputs, economic dimension and spatial interactions

Public health expenditure and spatial interactions in a decentralized national health system

One of the limitations of cross-country health expenditure analysis refers to the fact that the financing, the internal organization and political restraints of health care decision-making are country-specific and heterogeneous. Yet, a potential solution is to examine the influence of such effects in those countries that have undertaken decentralization processes. In such a setting, it is possible to examine potential expenditure spillovers across the geography of a country as well as the influence of the political ideology of regional incumbents on public health expenditure. This paper examines the determinants of public health expenditure within Spanish region-states (Autonomous Communities, ACs), most of them subject to similar financing structures although exhibiting significant heterogeneity as a result of the increasing decentralization, region-specific political factors along with different use of health care inputs, economic dimension and spatial interactions

Public health expenditure and spatial interactions in a decentralized national health system

One of the limitations of cross-country health expenditure analysis refers to the fact that the financing, the internal organization and political restraints of health care decision-making are country-specific and heterogeneous. Yet, a potential solution is to examine the influence of such effects in those countries that have undertaken decentralization processes. In such a setting, it is possible to examine potential expenditure spillovers across the geography of a country as well as the influence of the political ideology of regional incumbents on public health expenditure. This paper examines the determinants of public health expenditure within Spanish region-states (Autonomous Communities, ACs), most of them subject to similar financing structures although exhibiting significant heterogeneity as a result of the increasing decentralization, region-specific political factors along with different use of health care inputs, economic dimension and spatial interactions

Governmental Measures to Enhance the Finnish Innovation System to Respond to the Challenge of Mitigating Climate Change

Climate innovations, that cover both technological applications and process and service innovations, play a key role in climate change mitigation. The purpose of this study was to examine how the Finnish innovation system could be enhanced with governmental measures so that the diffusion of climate innovations could be speeded up. During the study, it became evident that the governmental measures need to support the whole innovation chain, which comprises of research, development, demonstration and deployment. Only this can lead to the successful birth and diffusion of low carbon innovations. The study found that the strengths of the Finnish innovation system are research and development, and the current national innovation policies strongly support these activities. However, these have been emphasised at the expense of the demonstration and deployment. Consequently, the biggest bottlenecks in the Finnish innovation landscape are the lack of pilot and demonstration projects and slow commercialisation, thus the high price of the innovation. To meet with the challenge, the government should firstly promote strict greenhouse gas emission reduction targets. This would boost up the innovation activities, which would also lower the prices of the innovations. To speed up the commercialisation process, measures that stimulate the domestic market, such as feed-in-tariffs and public procurements, are needed. Special attention should also be paid to the measures that could shift the traditional closed innovation chain towards open innovation. This means that the product development should involve experts from several fields such as the user and marketing experts to speed up the commercialisation. In addition, efficient innovation co-operation between both private and public sector is essential. Finally, as the domestic resources are not adequate for producing all the innovations needed, the domestic innovation activities should be focused on a few sectors, and at the same time promote efficient import policies.

Panorama de propriedade intelectual, transferência de tecnologia e inovação da química brasileira e a comparação com os países do BRIC

Based on Science, Technology & Innovation (ST&I) indicators, Brazil is a competitive and interesting country from the point of view of technological foreign investment. However, it is still incipient with regard to national investments, production of technological knowledge, inbound mobility of scientists and technology transfer to the productive sector. Among many other factors, global patent production is considered as an important indicator of innovation. Likewise, the balance between revenue and expenses obtained through royalties and licensing fees of technologies is also critical in mapping the diffusion and absorption of knowledge. The understanding of intellectual property and its strategic management brings a significant advantage to the economic and technological development of nations, especially in the field of chemistry, which greatly contributes to biotechnology, new materials and microelectronics - three fundamental areas for innovation in developed countries. Therefore, this article aims to map out competencies in chemistry in Brazil and evaluate science, technology and innovation indicators in the country, comparing this dynamic to the one of other BRIC members (Russia, India and China). Chemistry is the fourth biggest field of interest in Brazil based on the number of researchers registered at the governmental platform for researchers, Plataforma Lattes/CNPq, and is preceded by education, medicine and agronomy. The majority of research groups are registered in the area of materials, followed by macromolecules and polymers, pharmaceutical products and basic materials chemistry. These groups represent approximately 77% of research groups analyzed, therefore, indicating a tendency in the country. The analyses of patents in different sub-areas of chemistry reveal that non-residents file most deposits in the country, a probable reflection of the low internal intellectual property culture. Pharmaceutics and Fine Chemistry are prominent areas in the country, in line with the global trend. Among BRIC countries, China has the highest number of patents and of requests for protection in international offices. On the other hand, Brazil has the lowest number of chemical patents published at USPTO, EPO and JPO. An analysis of the transfer of technology data indicates an increase in this activity in various sub-areas of chemistry in the country. Despite the great efforts made by the country to consolidate its national innovation system, more needs to be done to put Brazil in a competitive position. In a globalized world dominated by large players, Brazil needs a lot of progress on ownership and generation of chemistry technologies to strengthen its national sovereignty. It is essential to strengthen chemical research at all levels, from elementary school to university, as an inexhaustible source of knowledge and technology that, when properly protected, may generate real public achievement and social return.

Commercializing technology in transitional economies. Case: Nanotechnology in Russia

The aim of the study is to find out “What are the challenges to overcome for the successful nanotechnology commercialization in Russia?” Working closely with the case country was definitely an advantage when it comes to the understanding of the research subject. The thesis is divided to two parts: first part examines the concept of technology commercialization and identifies unique aspects of the process in context of nanotechnology. Second part is dedicated to an empirical research, investigating current status of nanotechnology commercialization in Russia. For the purpose of this study, Russian and international scientists, researchers, entrepreneurs, industry and government representatives were interviewed systematically during 2007 – 2009. Based on the research done it can be concluded that immense public funding provides necessary support for the development of Russian nanotechnology industry. However, investments alone do not address important structural shortcomings of a national innovation system, which in turn slow down the progress. Taking into consideration gap between science and business and challenging IPR legislation, expected significant economic impact in Russia may be overestimated. Nevertheless it should be noted that development of nanotechnology is advancing rapidly and therefore, the state of commercialization is changing accordingly, even while this lines are written.

Ekologinen kestävyys Suomen innovaatiojärjestelmässä

Tämän diplomityön tavoitteena on tutkia ekologisen kestävyyden huomioimista Suomen innovaatiojärjestelmässä. Ekologinen kestävyys on osa laajempaa kestävän kehityksen käsitettä, joka syntyi jo 1980-luvun lopulla. Sillä viitataan toimintaan, joka jättää mahdollisuuksia tuleville sukupolville yhtä paljon tai enemmän kuin nykyään on käytettävissä. Kestävyyteen pyritään nykyisin laajalti ja sen toteutumisen turvaamiseksi on laadittu muun muassa EU-maat, Pohjoismaat ja Suomen kattavat strategiat. Ekologisen kestävyyden suurimmat uhat ovat tällä hetkellä ilmastonmuutos, biodiversiteetin pieneneminen ja ravinteiden kierto. Kestävä innovointi ja ympäristöinnovaatiot ovat tärkeitä keinoja ekologiseen kestävyyteen panostettaessa. Näissä innovaatioissa kyse on teknologian, talouden ja ympäristön tasapainosta. Suomen innovaatiotoimintaa tuetaan ja kansallista kilpailukykyä pidetään yllä kansallisen innovaatiojärjestelmän avulla. Suomen innovaatiojärjestelmässä on useita eri tason toimijoita. Tärkeimpinä voidaan pitää päättäjiä, rahoittajia ja tutkimuksen tuottajia. Rahoituksen suuntaaminen vaikuttaa siihen, mistä aihealueista tutkimusta tuotetaan. Suomen Akatemialla, Tekesillä ja Sitralla on ekologista kestävyyttä edistäviä ohjelmia. Lisäksi mm. SHOK:issa on huomioitu ekologisuus. Perustutkimusta rahoitetaan Suomen innovaatiojärjestelmässä huomattavasti soveltavaa tutkimusta vähemmän. Ekologiseen kestävyyteen panostavan tutkimuksen teemoista nousee selkeimmin esiin kestävä energiantuotanto sekä kestävä rakentaminen. Jatkotutkimuksena voisi selvittää, kuinka nämä panostukset ovat vaikuttaneet suomalaiseen rakennusalaan.

Mitigation possibilities to Greenhouse gas emissions from power production in India

Global warming is assertively the greatest environmental challenge for humans of 21st century. It is primarily caused by the anthropogenic greenhouse gas (GHG) that trap heat in the atmosphere. Because of which, the GHG emission mitigation, globally, is a critical issue in the political agenda of all high-profile nations. India, like other developing countries, is facing this threat of climate change while dealing with the challenge of sustaining its rapid economic growth. India’s economy is closely connected to its natural resource base and climate sensitive sectors like water, agriculture and forestry. Due to Climate change the quality and distribution of India’s natural resources may transform and lead to adverse effects on livelihood of its people. Therefore, India is expected to face a major threat due to the projected climate change. This study proposes possible solutions for GHG emission mitigation that are specific to the power sector of India. The methods discussed here will take Indian power sector from present coal dominant ideology to a system, centered with renewable energy sources. The study further proposes a future scenario for 2050, based on the present Indian government policies and global energy technologies advancements.

Causação circular do crescimento das economias em desenvolvimento: uma ponte entre as abordagens evolucionária e pós keynesiana

Based on the Post Keynesian approach and on the Evolutionary literature, this study seeks to demonstrate the causal relationships between the National Innovation System and the national and international financial systems. This study shows that there is a circular causation in the less developed economies that contributes to the immaturity of its National Innovation System and to its structural external vulnerability. Conclusions highlight that the cycles in the less developed economies mirror the cycles of international liquidity.

Uma opção para administrar empresas publicas: o contrato de gestão entre o governo do Brasil e a Companhia Vale do Rio Doce

Durante os últimos anos, a sociedade contemporânea encara as conseqüências não desejáveis da estatização da economia. Para lidar com esses problemas e, garantir algum nível de sucesso no modelo liberal de desenvolvimento econômico, as autoridades do Brasil tem idealizado reformas administrativas. adotado programas de privatização e de saneamenlo das finanças públicas e. implementado novos métodos de decisão, como estratégias para modernizar a gestão do Estado. A CVRD, empresa estatal brasileira de largo sucesso nacional c internacional, toi a primeira a assinar um Contrato de Gestllo com o Governo da União. em junho de 1991. Seus propósitos fundamentais são melhorar o relacionamento entre as partes assinantes. ceder maior autonomia operacional à empresa para aumentar seus níveis de competitividade e produtividade e, aperfeiçoar o cumprimento da função de controle por parte do Governo. Igual do que outros países do mundo que tem adotado Contratos de Gestão, a prática brasileir~ embora precária, tem apresentado sucesso para amhas as partes assinantes. A empresa, conseguiu a autonomia necessária para consolidar seu novo Sistema de Gerência Econômica, aperfeiçoou seu desempenho e passou a ser melhor compreendida pelos organismos de fiscalização. O Governo em primeiro lugar. legalizou um novo mecanismo para administrar as empresas estatais, que lhe permitirá aprimorar no cumprimento das funções de planejamento c controle c, em scgundo lugar, ofereceu um precedente importante e um exemplo de sucesso dos Contratos de Gestão como instrumentos para administrar organizações públicas.