This study investigated the effect of credit constraints and credit unconstraints on the technical efficiency of hybrid maize growers in the Khyber Pakhtunkhwa Province(KPK) of Pakistan. The primary data were collecte...This study investigated the effect of credit constraints and credit unconstraints on the technical efficiency of hybrid maize growers in the Khyber Pakhtunkhwa Province(KPK) of Pakistan. The primary data were collected by a direct elicitation method from 510 maize growers of KPK Province. Stochastic frontier model techniques were used for technical efficiency analyses. The results revealed that the mean technical efficiency difference between the two groups was 10.2%. The results of technical inefficiency effect modeling demonstrated that education of the household head, family size, number of married family members, off-farm income, farming experience, tractor drill, water irrigation through a lined course, certified seed, extension services, household saving variables, and a credit size variable had positive effects on technical efficiency for both credit constrained farmers(CCFs) and credit unconstrained farmers(UCCFs). In addition, age of household head and fragmented land values had negative effects on technical efficiency for both groups. However, the interest rate had positive and negative impacts on the technical efficiency of CCFs and UCCFs, respectively. Our results have significant implications for policies related to land use, interest rate, and banking sector expansion in the rural areas of Pakistan.展开更多
By analyzing the financing difficulties faced by the small and medium-sized firms, the paper built an artificial credit markets with the agent-based computational modeling to simulate the real world credit transaction...By analyzing the financing difficulties faced by the small and medium-sized firms, the paper built an artificial credit markets with the agent-based computational modeling to simulate the real world credit transactions. There are firms, banks, different risk-type projects as well as legal and supervision environments in which debt contracts constitute the financial instruments. The simulation results show that the number of collateral, average success probability of projects, and the prime interest rate have materially impact on bank's average profit, bank's capital, the overall interest rate,the number of borrowing firms, loan size, and the degree of credit rationing. These results in line with those of the classical S-W model in the sense that the relationship between bank profits and interest rates is non-monotonic as well as the relationship between credit rationing and interest rates. And thus there is an adverse selection effect in credit rationing theory.展开更多
This article models a novel driving-day-based tradable credit scheme (DD-TCS) to alleviate urban traffic congestion. In this model, car-using allowances (in terms of the number of days in a month, termed as "cred...This article models a novel driving-day-based tradable credit scheme (DD-TCS) to alleviate urban traffic congestion. In this model, car-using allowances (in terms of the number of days in a month, termed as "credit") are freely and uniformly allocated to all travellers, who are also allowed to trade them in a market according to his/her travel needs (e.g. driving more or fewer days than the free endowment). As opposed to most studies on TCS, this paper explicitly considers the transaction cost (e.g. infor-mation cost of finding potential traders) in the trading market. To assess the feasibility of DD-TCS, we compare it against the license plate rationing (LPR) scheme, which has been practically implemented in many cities such as Beijing and Chengdu in China. Taking the performance of LPR as a benchmark, we quantify the threshold values of the transaction cost in DD-TCS when the two schemes yield equivalent performance (in terms of the total gener-alized cost). In numerical studies, we also compare the DD-TCS and LPR with the no-action case and the congestion pricing case (representing the theoretical optimum). Results show that both DD-TCS and LPR outperform the no-action case under certain conditions. With small trans-action cost, DD-TCS may achieve a lower system cost that can be very close to the ideal optimum. In addition, parameter analysis shows that DD-TCS performs better than LPR in a wide range of transaction cost, where the threshold values appear to account for a considerable portion of the auto travel time. This implies that DD-TCS will be more appealing than LPR in practice because a transaction cost lower than the extremely large threshold values can be easily achieved for the trading market, e.g. via a mobile platform and modern communication techniques.展开更多
This paper conducts a survey of 237 rural households in Zhangjiagang City,identifies farmers' risk attitude through ELCE method and problem design and empirically studies the relationship between risk attitudes an...This paper conducts a survey of 237 rural households in Zhangjiagang City,identifies farmers' risk attitude through ELCE method and problem design and empirically studies the relationship between risk attitudes and credit rationing by utilizing Probit and Logit model. The results show that farmers' risk attitude and credit rationing are in a significant positive correlation. The stronger farmers' risk aversion is,the more serious the demanded credit rationing becomes. Such risk attitude determines the risk cost and risk premium,thus affecting the credit behavior and credit rationing degree. In addition,distance between farmers' residence far the city and their land amount have a positive significant influence on credit rationing,while farmers' education level,income,family labor force have a negative significant effect on credit rationing. Based on these findings,the paper further analyzes the relationship between farmers' credit using and credit rationing as to farmers with different risk attitudes. Measures to relieve the farmer's credit rationing must be taken from government,financial institutions and farmers,respectively.展开更多
A bank had better ration its credit if it first enters a gray system of credit information where it cannot distinguish between the low- and high-risk borrowers. As the bank keeps a long-term relationship with its borr...A bank had better ration its credit if it first enters a gray system of credit information where it cannot distinguish between the low- and high-risk borrowers. As the bank keeps a long-term relationship with its borrowers the bank learns about the borrowers through time. With the help of logit model and Bayes ruIe, a bank can process customer's credit information and build a better credit term it gives.展开更多
A three-year research project based in British Columbia, Canada, is attempting to develop a framework and tools to assist healthcare system decision-makers achieve “high performance” in resource allocation. In pursu...A three-year research project based in British Columbia, Canada, is attempting to develop a framework and tools to assist healthcare system decision-makers achieve “high performance” in resource allocation. In pursuit of this objective, a literature search was conducted and two phases of primary data collection are being undertaken: an online survey of senior healthcare decision-makers, and in-depth case studies of potential “high performing” organizations. This paper addresses the survey phase;our aim is to provide a practical example of the mechanics of survey design, of benefit to those who want to better understand our forthcoming results, but also as an aid to other researchers grappling with the hard choices and trade-offs involved in the survey development process. Survey content is described in light of the existing literature, with discussion of the choices made by the research team to decide what questions and items would be included and excluded. The target population for the survey was senior managers in Canadian regional health authorities (or the closest equivalent organizations) in each of the 10 provinces and 3 territories. The paper dis- cusses how this sample was obtained, and describes the survey implementation process.展开更多
This study examines some social consequences of food rationing and economic reforms in Shanghai by considering the notion of ＂Shanghai little men＂ （a broader translation of which is ＂Shanghai less-than-manly men＂...This study examines some social consequences of food rationing and economic reforms in Shanghai by considering the notion of ＂Shanghai little men＂ （a broader translation of which is ＂Shanghai less-than-manly men＂）. Male Shanghainese are notorious for doing household labor and being obedient to their wives, which has earned them the nickname Shanghai little men. This study indicates that their grocery shopping and cooking were first inspired by fundamental changes in food distribution and the power structure during the 1950s and 1960s. It treats Shanghai little men as both a special group and a symbol of certain changes in gender roles at home and the redefining of gender norms in the larger society. It examines the shifting discourse concerning Shanghai little men in the era of economic reforms and analyzes a recent popular discourse about ＂seeking real men＂ and ＂being real women.＂ Finally, it deconstructs the current cultural nostalgia for traditional gender-defined divisions of labor, reflecting a parallel developmen--the ＂transnational business masculinity＂ that one sees in China.展开更多
Credit rationing has been an objective phenomenon in medium-small enterprises credit market of China. By analyzing the present situation of medium-small enterprises credit market of China, this study gives a new credi...Credit rationing has been an objective phenomenon in medium-small enterprises credit market of China. By analyzing the present situation of medium-small enterprises credit market of China, this study gives a new credit rationing model fitting medium-small enterprises credit market of China well. It has been showed in the empirical study that different factor has each different influence on medium-small enterprises credit market; further more, only the change of chastisement factor can make the medium-small enterprises credit market achieve whole success, but other factors can merely get integrant success even though under the most ideal condition.展开更多
基金sponsored by the National Natural Social Science Foundation of China (71573211)
文摘This study investigated the effect of credit constraints and credit unconstraints on the technical efficiency of hybrid maize growers in the Khyber Pakhtunkhwa Province(KPK) of Pakistan. The primary data were collected by a direct elicitation method from 510 maize growers of KPK Province. Stochastic frontier model techniques were used for technical efficiency analyses. The results revealed that the mean technical efficiency difference between the two groups was 10.2%. The results of technical inefficiency effect modeling demonstrated that education of the household head, family size, number of married family members, off-farm income, farming experience, tractor drill, water irrigation through a lined course, certified seed, extension services, household saving variables, and a credit size variable had positive effects on technical efficiency for both credit constrained farmers(CCFs) and credit unconstrained farmers(UCCFs). In addition, age of household head and fragmented land values had negative effects on technical efficiency for both groups. However, the interest rate had positive and negative impacts on the technical efficiency of CCFs and UCCFs, respectively. Our results have significant implications for policies related to land use, interest rate, and banking sector expansion in the rural areas of Pakistan.
基金supported by the National Natural Science Foundation of China under Grant Nos.71532009,71320107003 and 71271145Core Projects in Tianjin Education Bureaus Social Science Program under Grant Nos.2012JWZD11 and 2014ZD13Specialized Research Fund for the Doctoral Program of Higher Education of China under Grant No.20110032110031
文摘By analyzing the financing difficulties faced by the small and medium-sized firms, the paper built an artificial credit markets with the agent-based computational modeling to simulate the real world credit transactions. There are firms, banks, different risk-type projects as well as legal and supervision environments in which debt contracts constitute the financial instruments. The simulation results show that the number of collateral, average success probability of projects, and the prime interest rate have materially impact on bank's average profit, bank's capital, the overall interest rate,the number of borrowing firms, loan size, and the degree of credit rationing. These results in line with those of the classical S-W model in the sense that the relationship between bank profits and interest rates is non-monotonic as well as the relationship between credit rationing and interest rates. And thus there is an adverse selection effect in credit rationing theory.
基金supported by the National Natural Science Foundation of China (Project No.51608455)
文摘This article models a novel driving-day-based tradable credit scheme (DD-TCS) to alleviate urban traffic congestion. In this model, car-using allowances (in terms of the number of days in a month, termed as "credit") are freely and uniformly allocated to all travellers, who are also allowed to trade them in a market according to his/her travel needs (e.g. driving more or fewer days than the free endowment). As opposed to most studies on TCS, this paper explicitly considers the transaction cost (e.g. infor-mation cost of finding potential traders) in the trading market. To assess the feasibility of DD-TCS, we compare it against the license plate rationing (LPR) scheme, which has been practically implemented in many cities such as Beijing and Chengdu in China. Taking the performance of LPR as a benchmark, we quantify the threshold values of the transaction cost in DD-TCS when the two schemes yield equivalent performance (in terms of the total gener-alized cost). In numerical studies, we also compare the DD-TCS and LPR with the no-action case and the congestion pricing case (representing the theoretical optimum). Results show that both DD-TCS and LPR outperform the no-action case under certain conditions. With small trans-action cost, DD-TCS may achieve a lower system cost that can be very close to the ideal optimum. In addition, parameter analysis shows that DD-TCS performs better than LPR in a wide range of transaction cost, where the threshold values appear to account for a considerable portion of the auto travel time. This implies that DD-TCS will be more appealing than LPR in practice because a transaction cost lower than the extremely large threshold values can be easily achieved for the trading market, e.g. via a mobile platform and modern communication techniques.
基金Supported by Humanities and Social Sciences Project for Western and Frontier Areas,the Ministry of Education(11XJC790007)Fundamental Research Fund for Central Universities,Southwest University(SWU1309229)+1 种基金Science and Technology Innovation Fund of Shizhu Base,Southwest University(Sz201108)Business Management Cultivation Discipline Project,Southwest University Rongchang Campus(Rcqg207001)
文摘This paper conducts a survey of 237 rural households in Zhangjiagang City,identifies farmers' risk attitude through ELCE method and problem design and empirically studies the relationship between risk attitudes and credit rationing by utilizing Probit and Logit model. The results show that farmers' risk attitude and credit rationing are in a significant positive correlation. The stronger farmers' risk aversion is,the more serious the demanded credit rationing becomes. Such risk attitude determines the risk cost and risk premium,thus affecting the credit behavior and credit rationing degree. In addition,distance between farmers' residence far the city and their land amount have a positive significant influence on credit rationing,while farmers' education level,income,family labor force have a negative significant effect on credit rationing. Based on these findings,the paper further analyzes the relationship between farmers' credit using and credit rationing as to farmers with different risk attitudes. Measures to relieve the farmer's credit rationing must be taken from government,financial institutions and farmers,respectively.
文摘A bank had better ration its credit if it first enters a gray system of credit information where it cannot distinguish between the low- and high-risk borrowers. As the bank keeps a long-term relationship with its borrowers the bank learns about the borrowers through time. With the help of logit model and Bayes ruIe, a bank can process customer's credit information and build a better credit term it gives.
文摘A three-year research project based in British Columbia, Canada, is attempting to develop a framework and tools to assist healthcare system decision-makers achieve “high performance” in resource allocation. In pursuit of this objective, a literature search was conducted and two phases of primary data collection are being undertaken: an online survey of senior healthcare decision-makers, and in-depth case studies of potential “high performing” organizations. This paper addresses the survey phase;our aim is to provide a practical example of the mechanics of survey design, of benefit to those who want to better understand our forthcoming results, but also as an aid to other researchers grappling with the hard choices and trade-offs involved in the survey development process. Survey content is described in light of the existing literature, with discussion of the choices made by the research team to decide what questions and items would be included and excluded. The target population for the survey was senior managers in Canadian regional health authorities (or the closest equivalent organizations) in each of the 10 provinces and 3 territories. The paper dis- cusses how this sample was obtained, and describes the survey implementation process.
文摘This study examines some social consequences of food rationing and economic reforms in Shanghai by considering the notion of ＂Shanghai little men＂ （a broader translation of which is ＂Shanghai less-than-manly men＂）. Male Shanghainese are notorious for doing household labor and being obedient to their wives, which has earned them the nickname Shanghai little men. This study indicates that their grocery shopping and cooking were first inspired by fundamental changes in food distribution and the power structure during the 1950s and 1960s. It treats Shanghai little men as both a special group and a symbol of certain changes in gender roles at home and the redefining of gender norms in the larger society. It examines the shifting discourse concerning Shanghai little men in the era of economic reforms and analyzes a recent popular discourse about ＂seeking real men＂ and ＂being real women.＂ Finally, it deconstructs the current cultural nostalgia for traditional gender-defined divisions of labor, reflecting a parallel developmen--the ＂transnational business masculinity＂ that one sees in China.
文摘Credit rationing has been an objective phenomenon in medium-small enterprises credit market of China. By analyzing the present situation of medium-small enterprises credit market of China, this study gives a new credit rationing model fitting medium-small enterprises credit market of China well. It has been showed in the empirical study that different factor has each different influence on medium-small enterprises credit market; further more, only the change of chastisement factor can make the medium-small enterprises credit market achieve whole success, but other factors can merely get integrant success even though under the most ideal condition.
