This paper empirically tests pollution abatement efforts of Chinese industries in response to pollution regulations, especially the pollution charge instrument practiced in China for about 20 years. The impacts of pollution regulation on abatement expenditures are examined for one thousand large and medium Chinese industrial polluters. The results show that plant-level expenditures on end-of-pi...

Table 1. Financial Statement of Government X for year Y Revenue Levied through the Government’s Power Direct Taxation 21,260 Indirect Taxation 11,722 Compulsory fees, fines, penalties and levies 258 Sub Total 33,240 Earned through the Government’s Operations Investment Income 1,154 Unrealized gains(losses) arising from changes in the value of commercial forests 78 Other operational revenue 420 ...

We investigate how private information and monitoring affects both the sensitivity of investment to internally generated cash flows and the role of accounting quality in reducing this sensitivity. We expect financing frictions to be lower when debt is obtained from banks with private information and when banks place direct restrictions on investments. We also argue that access to private inform...

In times of economic austerity, governments faced with declining revenues and political restraints on increasing taxes, must resort to major budgetary cutbacks. However, relatively little is known about how the governments of developing countries make expenditure decisions, or perhaps more importantly, how they trade off between consumption and investment or between functional categories of exp...

Most models of aggregate economic activity, like the standard neoclassical growth model, ignore the fact that equipment and structures are maintained and repaired. Once physical capital is purchased in these models, there are typically no more decisions made regarding its use. The theme of this article is that there is evidence to suggest that incorporating expenditures on the maintenance and r...

This article examines the impact of a conditional cash transfer programme in Nicaragua on a range of consumption and productive investment measures. Programme effects are estimated using household panel data collected as part of a randomised evaluation. Despite clear evidence that the programme increased current expenditures, there is only limited evidence that it increased investment. An estim...

Introduction. Typically, investment in petroleum exploration and development yields a joint product: reserves of oil and natural gas. The reserve additions are separable, but the expenditures generating reserve additions cannot be neatly partitioned between the two hydrocarbon sources.

india is much more integrated with the world economy. both current and capital accounts are complementing to each other. the economic slowdown that appears to have begun in the usa in september, 2008 has some negative impact on indian economy. the most immediate and adverse effect of this global financial crisis on india is an out flow of foreign institutional investment (fii) from the capital ...