Do social capital building strategies influence the financing behavior of chinese private small and medium-sized enterprises?

© 2013 Baylor University. Using data from 65,485 Chinese private small and medium-sized enterprises over the period 2000-2006, we examine the extent to which firms can improve access to debt by adopting strategies aimed at building social capital, namely entertaining and gift giving to others in their social network, and obtaining political affiliation. We find that although entertainment and gift-giving expenditure leads to higher levels of total and short-term debt, it does not enable firms to obtain greater long-term debt. In contrast, we demonstrate that obtaining political affiliation allows firms greater access to long-term debt.

The driving force of government in promoting BIM implementation

The adoption of Building Information Modelling (BIM) is one of the greatest technological innovations in the construction industry to date. However, the implementation of BIM lags far behind its potential due to the existence of various barriers. Strong government support is critical for the successful development and deployment of complex technology systems. BIM could seek government support to drive its implementation process and overcome the barriers. Through a survey, this paper aims to discover stakeholders’ expectations of the government role in BIM implementation and explores specific ways for governments to promote BIM implementation. The research findings are expected to assist related departments to accelerate BIM implementation.

December 1996: Hours Increased; Government Depository Centenary

Inside this Issue: AnniversaryReorganizationArchivesFriends OrganizeActive PeopleComings and GoingsAdopt-A-Book

April 2003: Collection Provides Free Public Access to Government Documents

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December 2007: Cooking with the Federal Government

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November 2009: Government Documents and the Arts

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Análise econômica das políticas de incentivos à cultura no Brasil

O Brasil conta hoje com uma legislação que o coloca seguramente entre os melhores países, senão o melhor, para se realizar projetos culturais. Ao menos na teoria. Essa dissertação tem como objetivo trilhar o caminho das leis de incentivo, desde a sua criação, com a Lei Sarney até a Lei Rouanet, analisando inclusive as leis estaduais e municipais, que também surgiram como respostas a descontinuidades no processo. O mercado cultural brasileiro é caracterizado por externalidades que dificultam sua viabilidade, fazendo necessária a intervenção governamental. A política cultural brasileira tem como principal instrumento as leis de incentivo à cultura, que utilizam a renúncia fiscal para atrair o capital privado. São formalizadas parcerias onde as empresas privadas patrocinam projetos de interesse do governo e, como contrapartida, recebem o direito de deduzir esse valor, integral ou parcialmente, de seus impostos. Contudo, esse modelo de contrato de parceria é mal formulado, e traz perdas para a sociedade. O risco é assumido integralmente pelo Estado, o que acarreta problemas sérios de Moral Hazard. Além disso, devido às diferentes características dos projetos, o modelo acaba também por gerar problemas de Seleção Adversa. Para uma melhor comparação e análise da política cultural brasileira, foram levantados casos internacionais - Estados Unidos, Inglaterra, Portugal e Espanha. Levando-se em conta as análises e críticas levantadas, serão sugeridas alternativas para o modelo de contrato adotado pelo governo para incentivo à cultura, e formas alternativas de financiamento ao setor cultural, de forma a assegurar um melhor retorno para a sociedade sem deixar de cumprir o papel de fomentar o setor e corrigir as externalidades presentes.

Sustained growth, government expenditure and inflation

We construct and simulate a theoretical model in order to explain particular historical experiences in which inflation acceleration apparently helped to spur a period of economic growth. Government financed expenditures affect positively the produtivity growth in this model so that the distortionary effect of inflation tax is compensated by the productive effect of public expenditures. We show that for some interval of money creation rates there is an equilibrium where money is valued and where steady state physica1 capital grows with inflation. It is a1so shown that zero inflation and growth maximization are never the optimal policies.