Executive Compensation, Firm Performance, and Chaebols in Korea: Evidence from New Panel Data This paper provides the first rigorous econometric estimates on the pay-performance relations for executives of Korean firms with and without Chaebol affiliation. To do so, we have assembled for the first time panel data (that provide information not only on executive compensation and firm performance ...

The Kyrgyz Republic was one of the poorest of the Soviet republics and suffered severe shocks with the dissolution of the USSR in 1991. It has also been one of the most rapid reformers among Soviet successor states, and has some of the best household survey data. This paper applies probit analysis to 1993 and 1996 household survey data to examine the correlates of poverty during transition to a...

Gene clusters for biosynthesis of 24 of 34 basic O-antigen forms of Shigella spp. are identical or similar to those of the genetically closely related bacterium Escherichia coli. For 18 of these relatedness was confirmed chemically by elucidation of the O-antigen (O-polysaccharide) structures. In this work, structures of the six remaining O-antigens of E. coli O32, O53, O79, O105, O183 (all rel...

This paper attempts to address a puzzle in China’s investment pattern: despite high aggregate investment and remarkable economic growth, negative net investment is commonly found at the microeconomic level. Using a large firm-level dataset, we test three hypotheses to explain the existence and extent of negative investment in each ownership group: what we term the efficiency (or restructuring) ...

Applied economists are often interested in studying trends in important economic indicators, such as inequality or poverty, but comparisons over time can be made impossible by changes in data collection methodology. We describe an easily implemented procedure, based on inverse probability weighting, that allows to recover comparability of estimated parameters identified implicitly by a moment c...

Inequality of Educational Opportunity in India: Changes over Time and across States This paper documents the extent of inequality of educational opportunity in India spanning the period 1983-2004 using National Sample Survey (NSS) data. We build on recent developments in the literature that has operationalized concepts in the inequality of opportunity theory (including Roemer’s) and construct t...

We use a new method to estimate China’s income distributions using publicly available interval summary statistics from China’s largest national household survey. We examine rural, urban, and overall income distributions for each year from 1985-2001. By estimating the entire distributions, we can show how the distributions change directly as well as examine trends in traditional welfare indices ...

CGE models are utilized for the evaluation of trade policy reforms, yet they are typically highly aggregated, limiting their usefulness to trade negotiators interested in impacts at the tariff line. Partial Equilibrium (PE) models used for disaggregate analysis lack the benefits of an economy-wide analysis required to examine the overall impact of trade policy reforms. This suggests the need fo...

Motivated by Feder’s two-sector model concerning exports and growth, this article intends to propose a dynamic framework, which bases on the production function theory and consists of two versions of the two-sector (the financial sector and the real sector) model, for analyzing the interrelation between financial development and economic growth in terms of intersectoral externalities. The appro...

This paper develops a model in which measured total factor productivity (TFP) is endogenously determined, in order to quantitatively explain the following three facts of the Japanese growth miracle between 1956 and 1973. First, the growth rate of GDP per unit of labor in the second half of this period was 7.9 percent while in the first half it was only 5.5 percent. Second, the rate of return to...