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Development cooperation at a tipping point: How, why and through what mechanisms do policy norms break?
No full textThis paper applies the concepts and theories of "policy norms" to the disruptive effects of the second Trump administration on global development cooperation. We argue that recent US actions represent more than a domestic political shift. They signal a tipping point to longstanding norms of the development cooperation system and specifically multilateralism as well as notions of global solidarity. This paper's objective is to explain how, why and through which political and institutional mechanisms policy norms break down or are reconstituted in global development cooperation. It uses the current moment as a case study of "norm antipreneurship", potentially even "norm imperialism" illustrating the political and institutional strategies through which policy norms are currently been contested, dismantled or displaced. This paper addresses a set of questions: (i) What are the core mechanisms through which development cooperation norms are formed, contested and fragmented? (ii) How is the second Trump administration seeking to reshape normative regimes in development cooperation? (iii) What research agenda is needed to understand norm change in a multipolar and contested development cooperation landscape
How are you doing today? Air quality and subjective well-being across time and space in Germany
No full textWe present evidence that air pollution negatively affects current well-being. To do so, we create a new dataset, matching particulate matter concentration at the exact day and location with individual-level survey responses about current life satisfaction. The panel structure of our data allows us to overcome several identification challenges in the literature. Additionally, we show how aggregation of air pollution across time and space mis-measures the relevant exposure. Our results further suggest that air pollution affects current well-being mostly through negative emotions like sadness or worry. We estimate the willingness to pay for clean air that refers to the direct, immediate effects of air pollution and can be mapped well to economic models.Luftverschmutzung beeinflusst das aktuelle Wohlbefinden negativ. Wir zeigen dies anhand eines neuen Datensatzes, in dem wir die Feinstaubkonzentration an einem bestimmten Tag und Ort mit individuellen Umfrageantworten zur aktuellen Lebenszufriedenheit abgleichen. Dank der Panelstruktur unserer Daten können wir hierbei mehrere Identifikationsprobleme aus der Literatur überwinden. Wir zeigen zudem, wie die Aggregation von Luftverschmutzung über Zeit und Raum zu einer falschen Messung der relevanten Belastung führt. Unsere Ergebnisse deuten darauf hin, dass Luftverschmutzung das aktuelle Wohlbefinden vor allem durch negative Emotionen wie Traurigkeit oder Sorgen beeinflusst. Darüber hinaus schätzen wir die kurzfristige Zahlungsbereitschaft für saubere Luft, die gut in ökonomische Modelle überführt werden kann
Causal Returns to Education
No full textUsing 182 estimates from 140 studies in 55 countries, this paper compares ordinary least squares (OLS) and instrumental variables (IV) estimates of the private returns to schooling. IV returns average 9.7 percent-38 percent higher than OLS-and exceed OLS in nearly 80 percent of cases, with the largest gaps in developing countries. These patterns align with theories of diminishing marginal returns, scarcity rents, and attenuation from measurement error. While IV methods mitigate bias, instrument validity and external validity concerns persist. Evidence consistently shows substantial causal returns, particularly for disadvantaged populations, underscoring the need for rigorous research
European traded gas hubs: TTF now a global gas benchmark
No full textThis Paper analyses the results of the trading data in 2024 for the European traded gas hubs, to give a fuller picture of the recovery after the very turbulent period from 2020 to 2022, where the various hubs now stand and, more importantly, to establish whether the Dutch TTF can now credibly be called a global gas benchmark. The paper shows that the Dutch TTF is truly the leading pricing benchmark for North-West Europe and indeed for many other European countries; it is also increasingly being used to price spot LNG cargoes. It has become an investment asset class in its own right and, as the data and analysis presented in this paper show, TTF is now a global benchmark too. Not only have the TTF total traded volumes grown to such an extent that they represent 82.9% of total European traded gas volumes, but its churn rate calculated against the much greater physical consumption figure of the countries including and surrounding the Netherlands, and whose shippers are known to be using TTF for their risk management, has risen considerably for the second year running and is now 45.9 times, easily becoming for the first time a 'very liquid' benchmark hub
Trends in InsurTech development in Korea: A news media analysis of key technologies, players, and solutions
No full textThis study aims to understand how InsurTech has developed in Korea. To achieve this, we collected InsurTech-related news articles published in the Korean media over the past eight years. Using a relatedness analysis based on the TopicRank algorithm, a text mining technique, we extracted the top keywords associated with InsurTech by year. The extracted keywords were analyzed and discussed in terms of development trends: which technologies gained prominence over time, who the key players were, and what solutions were introduced. The analysis revealed several key trends in InsurTech's development in Korea. First, regarding changes in InsurTech technology, blockchain and the Internet of Things initially garnered significant attention, but artificial intelligence and big data later emerged as more critical technologies. Second, in terms of market players, government agencies and research institutes initially created forums for discussion, such as seminars to draw social attention to InsurTech. Over time, innovative startups entered the market, general agencies specializing in insurance brokerage gained prominence in the online marketplace, and the entry of Big Tech platforms further diversified the market. Finally, in terms of InsurTech-related insurance solutions, early attention was focused on developing new products. However, the trend gradually shifted toward improving the accessibility and convenience of existing insurance services. Additionally, asset management and payment settlement services-linked to financial services beyond traditional insurance- emerged, along with new concepts such as healthcare, which reshaped the approach to insurance services. This study contributes to understanding how InsurTech has evolved by identifying key trends in emerging technologies, leading market players, and innovations in the insurance value chain. The Korean case provides insights that may help explore similar patterns in other countries
Import competition and firm‐level CO emissions: Evidence from the German manufacturing industry
No full textUsing the German census of the manufacturing industry, I analyze the impact of import competition on carbon emissions per unit of deflated sales (emission intensity). I combine precise information on firm‐level CO emissions with sector‐level trade flows. Looking at the period 1995 until 2017, I focus on the impact of the rise of Eastern Europe and China while addressing the endogeneity of trade flows with an instrumental variable approach. The baseline results suggest that a 1 pp increase in the import penetration ratio caused a reduction of the average firm's emission intensity by approximately 0.3%. This result implies that the rise of the joint East between 1995 and 2017 kept the average firm's emission intensity 6% below the level it would have had in the absence of the East's rise. I do not find strong indication for reallocation of production towards more efficient firms. Finally, I supplement the analysis by examining the effect of export opportunities due to the East's rise. The results indicate that exporting to the East increased sales and emissions, with a small, if any, negative effect on emission intensities
Corporate tax aggressiveness and market value of Vietnamese listed firms
No full textDespite extensive academic research on the market capitalization implication of corporate tax aggressiveness in developed markets, papers examining this causal relationship in emerging markets are few and far between. The present article aims to contribute to the extant literature by investigating the impact of corporate tax avoidance on market value in Vietnam. The data sample includes nearly 7,400 firm-year observations from 2009 to 2023. Regression analysis with panel data is employed to assess the influence of corporate tax aggressiveness on firm value of Vietnamese listed firm. Empirical results show that corporate tax avoidance inhibits market value of listed firms. On average, the market capitalization would decrease by around 0.13% if the effective tax rate increases by 1%. Furthermore, financial leverage, firm size, and profitability have significant impacts on firm value. As a result, we propose several recommendations for the Vietnamese government to control tax-aggressive activities and build effective tax administration in the future
How climate-related disasters reshape tax morale in sub-Saharan Africa
No full textClimate-related disasters have increased over recent decades, with severe human and economic consequences. While research has examined their macroeconomic effects and impact on households' income and consumption patterns, little attention has been given to their impact on tax morale-taxpayers' intrinsic motivation to comply with tax obligations. This study fills this gap by estimating the impact of climaterelated disasters on tax morale in 26 sub-Saharan African countries using Afrobarometer survey data from 2011 to 2021. The analysis considers six climate-related shocks: droughts, earthquakes, extreme temperatures, floods, storms, and wildfires. We hypothesize that the impact of climate-related disasters on tax morale depends on the specific disasters considered, and that these heterogeneous effects work through two key mechanisms: economic inequality and trust in public institutions. First, they can exacerbate inequality by reducing government revenue, increasing economic hardship for vulnerable groups (through loss of livelihoods), and eliciting unequal policy responses from government. Climate-related disasters can also reduce inequality when associated with increased economic hardship for richer households (by destroying their productive assets. Second, tax morale declines when citizens perceive government responses as inadequate or unfair; conversely, it increases if citizens perceive the government to be responding adequately. Logistic regression results confirm this heterogeneity. Droughts, extreme temperatures, floods, and storms reduce tax morale, while earthquakes and wildfires increase it. Incorporating regional heterogeneity shows that the negative effects of disasters on tax morale are more profound in rural areas. Mediation analysis confirms inequality and institutional trust as key transmission channels. These findings underscore the need for inclusive tax policies and effective post-disaster governance to sustain revenue mobilization in sub-Saharan Africa
Assessing the impact of digital tools on the recruitment process using the design thinking methodology
No full textHeat adaptation in central Asia: Household cooling choices
No full textThis study investigates factors influencing household cooling choices in Central Asia, focusing on air-conditioning and fans/sunscreen films. Using data from the 2023 "Household Access to Energy in the Fergana Valley" survey in the Kyrgyz Republic, Tajikistan, and Uzbekistan, the analysis employs a multinomial probit model to examine socioeconomic, environmental, and power supply factors. Across the three countries, it finds that 48% of households use fans or sunscreen films (without air-conditioning), 30% use no cooling, and 22% use air-conditioning, noting significant variations between countries. Cooling degree days (CDD) significantly impact cooling appliance adoption, with higher CDD regions more likely to use cooling solutions. Power outages negatively affect air-conditioning adoption but not fans/sunscreen films, highlighting the importance of power stability. Robustness checks confirm that power supply reliability is crucial for cooling choices. The findings suggest policy implications, including the potential of solar panels to meet summer energy demands. This research underscores the need to address power sector reliability and climate adaptation in vulnerable regions