Dissertations / Theses: 'Public sector finance'

1

Wang, Yi. "The public sector wage premium puzzle." Thesis, Cardiff University, 2016. http://orca.cf.ac.uk/100994/.

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This thesis investigates the public sector wage premium in the UK over the last decade using both econometric and economic modelling methods. A comprehensive literature review is conducted to summarise the four popular types of methods adopted by the existing microeconomics studies, which are weakly derived from some labour economic theories. A common problem of the economic methods is the difficulty in dealing with selection bias when valid instruments are not available. All four types of econometric methods are then applied to estimating the public sector wage premium, resulting in an overall average of 6.5% when a relatively higher female's premium. In particular, propensity score matching method provides the most robust estimate against mis-specification. As a bridge between microdata and macrodata in the labour market, the wage premium is shown to be counter-cyclical. Indirect inference is then introduced as a new method of testing and estimating a micro-founded economic model in the microdata analysis context. All four types of econometric methods are used as auxiliary models to summarise the data features, based on which the distance between the actual data and the model-simulated data is assessed. A calibrated model passes the test only when the propensity score matching method is used as the comparison criterion. To focus on the key properties of the model, the OLS coefficients are grouped into a smaller dimension, and the estimated model can also pass the test. The selection bias can be tested in a straightforward way under indirect inference, and we find no evidence for selection in the data. A Monte Carlo experiment is designed to verify the high statistical power of indirect inference test. Finally, a normative analysis is carried out and there is no evidence of unjust factors behind the observed public sector wage premium.

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Amara, Salem Mohamed Omar. "Performance auditing in the Libyan public sector." Thesis, University of Gloucestershire, 2011. http://eprints.glos.ac.uk/3253/.

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Libya is a developing Arab State with a small population and a large geographic area. After the Alfatah revolution in 1969, the Libyan economy changed. Most activities such as agriculture, industry, investment, and other associated services were developed. Accordingly, the number of users of financial information in Libya rose steadily and has continued to grow ever since due to economic growth and flourishing business. This situation has led to an increased need for more reliable information to enable the country's authorities to exercise full accountability concerning the efficient and effective use of the available scarce resources on the part of those entrusted with administering public programmes and activities. In a response to this need, PA was required to be conducted by auditors in 1989. Consequently, PA examinations are carried out by two separate institutions, namely the Institute of Financial Auditing (IFA) and the Institute of Investigation and Public Control (IIPC). Accordingly, a comprehensive description of the nature of PA as practised by the Libyan auditors, assessing the degree to which these practices have been effectively operated and suggesting improvements in these practices, was felt necessary. A mixed-methodological design was utilized in this study. Close-ended questionnaires and semistructured interviews are the data collection techniques. The questionnaires were sent to a sample of performance auditors and public sector managers. The interviews were also conducted with a sample of performance auditors and public sector managers. The findings of this study revealed that the Libyan experience in the field of PA shares, in various instances, a common base with what has been identified in the literature or reported in the practices of other state audit institutions. The research findings, furthermore, showed that PA in the Libyan public sector is "rarely effective" or "ineffective" due to many obstacles that the current system of PA is facing, such as "ambiguity of organizations' objectives", "lack of performance measures", "lack of a sound internal control system", and "shortage of qualified performance auditors and specialized staff from different disciplines to carry out PA investigations". In addition, the findings showed that the PA system in Libya can be improved through the adoption of certain procedures, of which the most important are improving performance auditors' skills and attention being paid to PA by the legislative and administrative officials at higher levels in Libya. Lastly, in the light of these findings recommendations were proposed to overcome the reported deficiencies and to improve PA practices in the Libyan public sector.

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Zaltom, Mohamed M. "Service quality in Libyan commercial banking sector from customers' and bankers' standpoints : a comparative study between the public and private sector." Thesis, Liverpool John Moores University, 2010. http://researchonline.ljmu.ac.uk/5980/.

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Oliveira, Miguel Ferreira Neves de. "CAPM for project finance using the portuguese public-private partnerships road sector." Master's thesis, Instituto Superior de Economia e Gestão, 2015. http://hdl.handle.net/10400.5/10674.

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Mestrado em Finanças
Neste artigo, usando o Capital Asset Pricing Model (CAPM) e o Weighted Average Cost of Capital (WACC), propõe-se uma discussão das taxas de desconto apropriadas para as parcerias público-privadas (PPPs) Portuguesas no sector rodoviário, nomeadamente na perspectiva dos investidores privados. O cálculo do custo dos capitais próprios é realizado através de duas metodologias: usando dados de empresas comparáveis e com o uso de dados públicos (Damodaran Online) sobre o setor dos transportes a nível europeu. Para além disso, concluímos que o cálculo do custo dos capitais próprios através do CAPM depende muito dos grandes níveis de alavancagem dos projectos PPP. As taxas de desconto obtidas são depois sujeitas a testes econométricos (OLS), em relação à influência de existir ou não uma maioria de accionistas estrangeiros, do tipo de pagamento ser num esquema de disponibilidade e das yields das Obrigações do Tesouro Portuguesas a 10 anos (spreads vs. Alemanha). Concluímos que as taxas de desconto apropriadas (WACC) deverão situar-se no intervalo entre os 6 e os 8% e a existência de uma maioria estrangeira ao nível dos accionistas está associada a um menor risco dos projectos e custos dos capitais próprios mais baixos, ao nível de significância de 10%.
In this article, using the Capital Asset Pricing Model (CAPM) and the Weighted Average Cost of Capital (WACC), we propose the discussion of the appropriate discount rates for the case of Portuguese public private partnerships (PPPs) in the road sector, namely from the perspective of private sector investors. Calculation of the cost of equity is performed using two different methodologies: a comparable firms approach and with the use of publicly available data (Damodaran Online) on the European transportation sector. Furthermore, we find that the CAPM cost of equity is very dependent on the high leverage of PPP projects. The computed discount rates are later subjected to econometric (OLS) testing, regarding the influence of having a foreign shareholder majority, of the availability payment scheme and of Portuguese Treasury 10 year bond yields (spreads vs. Germany). We find that the appropriate discount rates (WACC) should be in the range of 6 to 8% and that the existence of foreign shareholders is associated with lower project risk and lower costs of equity, at 10% significance level.

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Saleh, Ali Salman. "Public sector deficits and macroeconomic performance in Lebanon." Access electronically, 2004. http://www.library.uow.edu.au/adt-NWU/public/adt-NWU20050214.145943/index.html.

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Ong, Kian H. "Modelling the sustainability of public sector debt and net foreign asset positions." Thesis, University of Nottingham, 2016. http://eprints.nottingham.ac.uk/33798/.

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The European Sovereign Debt crisis in 2010 not only brings the sustainability of public finance to the forefront, but also the sustainability of external balances. Chapter 2 of this thesis proposes an approach to measuring fiscal sustainability of a country; Chapter 3 investigates the divergent external imbalances in Europe, and Chapter 4 proposes the measures of external sustainability for a country. Chapter 2 proposes a measure of public sector debt sustainability based on probabilistic statements of various future events relating to debt sustainability. It illustrates the approach using data for 10 developed countries over the period 1958-2010. The approach accommodates various alternative definitions of sustainability, which is new in the literature. The approach employs a Global cointegrated Vector Auto Regression model, modelling both long-run relations and cross-country interactions. Applying our approach on an empirical sample including eight EU countries, shows that our measures offer a multi-dimensional description of fiscal sustainability. Chapter 3 characterises the long-run time series properties of net foreign assets in twelve EU countries over the period 1970-2011. Using a multi-country restricted VAR model, we establish that shocks to net foreign asset persist over time. We then measure the size and the source of the permanent effects of the shocks. We find, the current account drives the net foreign assets in the long-run. Unanticipated changes in cross-border finance flows have a significant permanent effect on net foreign assets across the EU economies, more than output shocks and dollar exchange rate shocks. Chapter 4 measures the likelihood of sustainability of the net foreign assets and the current accounts. In response to the sovereign debt crisis, the European Commission includes both the stock and flow external balances under its surveillance. We illustrate our measure by implementing the introduced policy. Our sustainability likelihoods are based on a formal model incorporating behavioural feedbacks and cross-country movements. Illustrating on the EU empirical sample adopted in Chapter 3, our measures not only describe countries' sustainability of external balances but also serve as early warning indicators.

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Potter, Bradley N., and mikewood@deakin edu au. "Reforming Australian public sector accounting: An episode of institutional thinking." Deakin University. School of Accounting, Economics and Finance, 2003. http://tux.lib.deakin.edu.au./adt-VDU/public/adt-VDU20051017.155728.

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In recent years in Australia, accounting reforms have been developed which have resulted in the application of commercial systems of accounting to diverse public sector organisations. The reforms, which include the requirement to recognise infrastructure and heritage resources as assets in financial reports, endorse financial notions of accountability and performance that have been traditionally applied within private sector, profit-seeking organisations. Such notions are applied to a range of public sector organisations for the first time, even though the primary missions or objectives of many of these organisations are social, rather than financial in orientation. This critical, interpretative case study, set within the context of not-for-profit public museums, seeks to enhance an understanding of public sector accounting change based on these unique social organisations. The study examines three aspects of the reforms, namely, their development, their promotion and their defence. This examination is undertaken using the ideas contained in Mary Douglas (1986) How Institutions Think as the key theoretical construct. The supplementary perspectives of problematisation and epistemic communities are used to assist in applying the primary theoretical construct by explaining how, and by whom, these reforms were advocated and implemented in this specific instance. The study shows how the interpretation and application of the statements comprising the conceptual framework have shaped the development, promotion and defence of detailed standards developed for specific public sector organisations. In doing so, the study addresses two key research questions: (1) How were financial notions of accountability and performance of Australian public sector organisations constructed during the period 1976-2001 and articulated in the CF, once its development began, within this reform period? (2) How were these notions and other concepts of financial reporting outlined in the CF interpreted and applied in the (i) development; (ii) promotion; and (iii) defence of detailed accounting standards for not-for-profit public museums in Australia during the period under investigation? The study demonstrates that the concepts of financial reporting outlined in the conceptual framework were used by a relatively small group of technical experts located in influential positions in accounting regulation and in other fields to justify the application of accrual accounting within diverse public sector organisations. During the period examined, only certain questions were posed and certain issues considered and many problems associated with the implementation of the reforms were not considered. Accordingly, a key finding of the study is that each aspect of the reform period was guided and constrained by institutional thinking. In addition, the study shows how the framework's content can be used to permit equally well-argued, but conflicting, accounting policies to be adopted and defended for the same items, indicating the framework to be of only limited value as a technical tool. This leads to another key finding of the study, namely, that the framework is best understood as a political tool, serving a crucial role in enabling accrual accounting reforms to be developed, promoted and defended within the public sector. Thus, the study seeks to offer an enhanced understanding of the nature and determinants of accounting change, and accordingly, it broadens an understanding of the use of the conceptual framework, as an institution, in developing, promoting and defending changes to accounting practice.

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Bigham, Joshua D., and Thomas R. Goudreau. "Return on investment in the public sector." Thesis, Monterey, California. Naval Postgraduate School, 2004. http://hdl.handle.net/10945/1317.

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Approved for public release; distribution in unlimited.
In an environment of scarce resources and rising federal deficits the people not only expect, but demand greater accountability for the spending of public funds. This demand has created a trend in the public sector, not only in the United States, but worldwide as well, towards the importation of private sector business practices to improve accountability-oriented analysis. One example is increased emphasis on return on investment (ROI) analysis in public sector organizations. Development and application of ROI analysis is challenging in the public sector since most government organizations do not generate profit necessary for calculation of ROI in the manner in which it is done in the private sector. This thesis develops the methodology necessary for use of ROI analysis in the public sector. ROI methodology is applied for test evaluation with the Space and Naval Warfare Systems Command (SPAWAR) in San Diego. The test demonstrates that ROI can be applied successfully to assess the relative efficiency of value-added work and to improve the process of choosing between investment alternatives. Properly designed ROI analysis reveals how and for what goods and services money is spent and provides a means for comparing the value derived from investment and work performed.
Lieutenant, United States Navy

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9

Vasilev, Aleksandar Zdravkov. "Essays on real business cycle modeling and the public sector." Thesis, University of Glasgow, 2013. http://theses.gla.ac.uk/4286/.

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This thesis is composed of three core chapters on modern dynamic macroeconomics, which study different aspects of the public sector labor market in a large EU economy with significant public employment share and a non-trivial public sector wage premium over the private sector labor compensation. The study in this dissertation adds to earlier research by incorporating endogenous government hours and wages in the model framework and argues that the presence of a sizable public sector labor market in European economies generates significant interaction with the private sector labor and capital markets. In addition, the presence of interest groups (labor unions, government bureaucracy), as well as other labor market frictions in the public sector, is shown to be an important element of the analysis when discussing fiscal policy reforms. Motivated by the highly-unionized public sectors, the high public shares in total employment, and the public sector wage premia observed in most post-WWII European economies, Chapter 1 examines the role of public sector unions in a general equilibrium framework. A strong union presence in a large non-market sector is shown to be relevant for both business cycle fluctuations and for the welfare effect of fiscal regime changes. To this end, an otherwise standard real-business-cycle (RBC) model is augmented with a public sector union optimization problem. The resulting theoretical setup generates cyclical behavior in government hours and wages that is consistent with data behavior in an economy with a highly-unionized public sector, namely Germany during the period 1970-2007. The main findings of Chapter 1 are: (i) the model with a public sector union performs reasonably well vis-a-vis data; (ii) overall, the public sector union model is a significant improvement over a similar model with exogenous public sector employment; (iii) endogenously-determined public wage and hours add to the distortionary effect of contractionary tax reforms and produce significantly higher welfare losses. Additionally, the union model requires greater changes in tax rates to achieve a pre-specified increase in tax revenue compared to an equivalent model with exogenous public sector hours. Thus, endogenous public sector hours and wages in the setup are shown to be quantitatively important for public policy evaluation. Ignoring the positive co-movement between public and private hours and wages leads to a significant underestimation of the welfare effect of fiscal regime changes. Chapter 2 characterizes optimal fiscal policy and evaluates it relative to the exogenous (observed) one. Motivated by the high public employment, and the public wage premia observed in the major European economies, a Real-Business-Cycle model, calibrated to German data (1970-2007), is set up with a richer government spending side, and an endogenous private-public sector labor choice. To illustrate the effects of fiscal policy on sectoral allocation of hours, public wage rate determination and the provision of labor-intensive public services, two regimes are compared and contrasted to one another - exogenous vs. optimal (Ramsey) policy case. The main findings from the computational experiments performed in Chapter 2 are: (i) The optimal steady-state capital tax rate is zero, as it is the most distortionary tax to use; (ii) A higher labor tax rate is needed in the Ramsey case to compensate for the loss in capital tax revenue; (iii) Under the optimal policy regime, public sector employment is lower, but government employees receive higher wages; (iv) The benevolent Ramsey planner provides the optimal amount of the public good, and substitutes labor for capital in the input mix for public services and private output; (v) The government wage bill is smaller, while public investment is three times higher than in the exogenous policy case. Lastly, the thesis tries to delve into the hierarchical structure of public employment service and addresses the problem of rent-seeking in the public sector by government bureaucrats. Chapter 3 studies the wasteful effect of bureaucracy on the economy by addressing the link between rent-seeking behavior of government bureaucrats and the public sector wage bill, which is taken to represent the rent component. In particular, public officials are modeled as individuals competing for a larger share of those public funds. The theoretical model used is calibrated to German data for the period 1970-2007. The analysis then extends to the other major EU economies as well. To illustrate the effects of fiscal policy on rent-seeking, the exogenous and the optimal (Ramsey) policy cases are compared and contrasted to one another. The main findings of Chapter 3 are: (i) Due to the existence of a signicant public sector wage premium and the large public sector employment, a substantial amount of working time is spent rent-seeking, which in turn leads to significant losses measured in terms of aggregate output; (ii) The measures for the rent-seeking cost obtained from the model for the major EU countries are highly-correlated to indices of bureaucratic ineficiency; (iii) Under the optimal fiscal policy regime, steady-state rent-seeking is smaller relative to the exogenous policy case. The benevolent government invests more in public capital, sets a higher public wage premium, but chooses much lower public employment, thus achieving a decrease in rent-seeking.

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Farahin, Ali N. "The institutionalisation of accrual accounting : exploratory evidence from the Malaysian public sector." Thesis, University of Warwick, 2017. http://wrap.warwick.ac.uk/95675/.

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Motivated by unresolved debates on the appropriateness of accrual accounting in the public sector context and limited empirical support justifying its suitability within developing countries, this research seeks to fill such important knowledge gap. It expands the ongoing interest in the development of public sector accounting by focusing on an in-depth exploration of contextual interactions between institutions and processes of accounting change in one of the developing countries, Malaysia. As Malaysia is currently undertaking a radical accounting reform at the federal level, the research explored how it becomes institutionally embedded within political and administrative structures. By applying Critical Realism and Institutional Theory as theoretical lenses, this research employed qualitative strategies for primary and secondary data collected at lead agencies and three selected ministries. These include a thorough review of government documents, interviews with key actors and observations of their responses towards reform activities. The analyses revealed how the ultimate institutionalisation of accrual accounting approach, was constrained by the key actors’ limited capacity for action along with unaccommodating power dependencies. Moreover, the tension that arose between multiple expectations and the inherent attributes and culture of the public organisations that were strongly embedded in social welfare logics heavily influenced their interests and commitments in applying the efficiency logics prescription which underpin accrual accounting. The data also revealed the difficulties in complying with the International Public Sector Accounting Standards requirements, especially by organisations with distinctive assets where the relevant government policies still appear ambiguous. Consequently, there is heterogeneity in organisational responses and the quality of accounting information produced proved to be below expectations. The new financial information indicating the government’s financial position has imposed some political risks that have caused political support for the project to fluctuate. Therefore, rather than functioning as a management tool, accrual accounting has become a political tool. If these issues remain unresolved, the research implies that the Malaysian government will not be able to realise the value promised by accrual accounting, of which, may result in significant consequences in its effort to become a developed nation.

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Abida, Saleh Rajab. "The impact of the World Trade Organisation on Libyan banking sector." Thesis, Liverpool John Moores University, 2011. http://researchonline.ljmu.ac.uk/6023/.

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The main aim of this study is to identify and analyse, both qualitatively and quantitatively, the potential effects of the World Trade Organization (WTO) on the Libyan Banking sector using DEA and Panel data regression methods. Libya has not gained its full membership of the WTO yet. However, Libya has gained observer status since 2004. Since Libya has not yet joined the WTO, it is not possible to know its impact by addressing the period pre and post joining the WTO. Therefore, to know the final expected impact of the WTO on the Libyan banking sector, two ways are selected. The first one is by assessing the rules of the WTO and review the existing literature regarding the impact of the WTO on banking sector to draw some conclusions on the Libyan banking sector. The other one is by using the efficiency of banks as a means to know the impact of the WTO on the Libyan banking sector. The efficiency was empirically measured using DEA method and two types of comparison: Common Efficient Frontier (CEF) and National Specific Frontier (NSF). The using of DEA method allows the comparison of efficiency of Libyan banks to those in existence in countries similar to Libya (Gulf countries) that have already gained membership of the WTO .Also, to check whether there have been any changes in the general trend of efficiency since these countries have joined the WTO. Finally, in order to find out how to improve the bank efficiency, the determinants of bank efficiency were investigated using panel data regression and the WTO was used as one of the determinants of bank efficiency. The main finding from a sample inclusive of GCCs banks with Iwithout Libyan banks under CEF comparison, reveal that the mean efficiency score of the Libyan banking industry is not dissimilar to the GCC country's mean. Since these results are different to those obtained in the existing literature and also to know the implication of WTO on GCC countries as more homogeneous countries, the analysis was repeated without Libya using the CEF comparison. However, the type of comparison (NSF) produced significantly different results, in particular the ranking of the countries. Overall, The results of DEA which were supported and complemented by using the Panel data regression method show that there is no clear evidence that the efficiency of Gulf countries has been improving since joining of the WTO. The reason behind this might be the decreasing level of efficiency in these countries relative to developed countries When the Gulf countries joined the WTO. Furthermore, the Gulf countries have not yet completely opened their banking sectors and still discriminate against foreign banks. Also, they still enjoy the exemption given to developing countries. Therefore, Libya's joining the WTO as a full member- at the present time -might affect the banking sector negatively. Regarding to the impact of banking reform on Libyan banks efficiency, although the results were ambiguous and depending on using CEF or NSF type, the results of NSF which is supported by previous literature showed that there was progress, therefore, efficiency was improved after the reform had started.

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Pritchett, Andrieta G. "Shared Service Center Strategies in Public Sector." ScholarWorks, 2018. https://scholarworks.waldenu.edu/dissertations/5119.

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With the increased demand for doing more with less, public sector managers embrace outsourcing back-office functions through a shared service model; however, maintaining service quality for public sector shared service centers (SSC) in financial management during peak cycles is a challenge. Framed with the transaction cost economy theory, the purpose of this single case study was to explore strategies used by SSC managers in a public sector company to maintain service quality. Seven participants with more than 4 years of SSC experience in public-sector companies participated in phone interviews including SSC department heads, managers, and a supervisor of a public-sector company in Mississippi who implemented strategies to successfully maintain service quality in the SSC relationship. Through method triangulation, a review of service level agreements and key performance indicators supplemented open-ended semistructured interviews. The research findings included emergent themes of training and documentation, employee engagement, control and communication, efficiency and automation, and standardization and metrics. The SSC strategies in training and documentation, control and communication, and employee engagement were fundamental for maintaining service quality in SSC relationship. Study findings may help public sector SSC managers understand how to incorporate and implement successful strategies in financial management divisions to maintain service quality. Positive social change includes identifying methods to increased efficiency and service quality in a financial management division. Society could benefit from improvements in employee work-life balance, reduced turnover, and increases in the economic well-being of community residents.

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Malagila, John. "Public sector external auditing in Tanzania : a theory of managing colonising tendencies." Thesis, University of Southampton, 2013. https://eprints.soton.ac.uk/364316/.

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This study investigates the public sector external auditing (PSA) phenomenon in Tanzania, and seeks to understand the role of PSA, and the conditions in which it operates. In recent years, Tanzania has shown increased recognition of the contribution PSA makes to accountability, performance and the fight against corruption (CAGT, 2007). While empirical evidence to support this recognition is lacking in Tanzania, the literature review revealed mixed findings. Furthermore, the study responds to calls for more PSA studies in developing countries (Goddard, 2010) in general (Leung, White and Cooper, 2011) and those which adopt critical interpretive approaches (Baker and Bettner, 1997). The study adopts and implements a critical interpretive research strategy in fieldwork undertaken at the National Audit Office of Tanzania (NAOT). Specifically, it employs the grounded theory method (GTM) as an interpretive approach and strategically accommodates critical thinking in questioning and interpreting the case under study (Laughlin, 1995; Gibson, 2007). It also adopts elements of Habermas’ critical theory (HCT) as a lens through which interpretively field gained understanding is extended (Habermas, 1987). This study’s findings indicate that PSA in Tanzania encountered colonising tendencies because of weak working relationship between the NAOT and other accountability agencies, inconsistencies in governance and politics, the culture of corruption and secrecy, dependence on foreign financing and mimicking of foreign models. To coexist within this colonising environment, managing colonising tendencies appeared to be the core strategy for both the government and external auditors. While the government appeared to manage NAOT appearance and exploited the legitimising features of PSA, external auditors manoeuvred within colonising tendencies and attempted to maintain the ‘audit supremacy’ image. External auditors managed their relationship with auditees and the complexities of PSA roles. Managing colonising tendencies resulted into obscured subordination of PSA, contributing to cosmetic accountability and growing public interest in PSA. This research contributes to the understanding of the role and conditions shaping PSA in a developing country. It provides field-based evidence that maintaining an appearance of SAI’s ‘supremacy’ without resolving problems in the underlying power relations leads to superficial contributions from PSA. It also contributes to critical interpretive research in developing countries. Exploiting the pragmatic nature of grounded theory (GT), the research provides a practical demonstration of accommodating critical theory in a GTM. Finally, the colonisation thesis in HCT helped the researcher to develop a societal extension of the emergent theory, which also extended the thesis by highlighting external auditors’ responses to colonisation.

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Au, Chung-man Johnsman. "The development of value for money auditing in the public sector in Hong Kong : problems and issues /." [Hong Kong : University of Hong Kong], 1993. http://sunzi.lib.hku.hk/hkuto/record.jsp?B13552946.

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15

Arratia, Juan I. "An analysis on the applicability of a private finance initiative to meet USMC engineer equipment needs." Thesis, Monterey, Calif. : Springfield, Va. : Naval Postgraduate School ; Available from National Technical Information Service, 2003. http://library.nps.navy.mil/uhtbin/hyperion-image/03Dec%5FArratia.pdf.

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Au, Chung-man Johnsman, and 歐中民. "The development of value for money auditing in the public sector in Hong Kong: problems and issues." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1993. http://hub.hku.hk/bib/B31964217.

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Okumu, Ibrahim Mike. "Essays on governance, public finance, and economic development." Thesis, University of St Andrews, 2014. http://hdl.handle.net/10023/5282.

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This thesis is composed of three distinct but related essays. The first essay studies the role of the size of the economy in mitigating the impact of public sector corruption on economic development. The analysis is based on a dynamic general equilibrium model in which growth occurs endogenously through the invention and manufacture of new intermediate goods that are used in the production of output. Potential innovators decide to enter the market considering the fraction of future profits that may be lost to corruption. We find that depending on the number of times bribes are demanded, the size of the economy may be an important factor in determining the effects of corruption on innovation and economic growth. The second essay presents an occupational choice model in which a household can choose either formal or informal entrepreneurship or at the subsistence livelihood. Credit market constraints and initial wealth conditions (bequest) determine an agent's occupational choice. Corruption arises when bureaucrats exchange investment permits for bribes. Corruption worsens credit market constraints. Equilibrium with corruption is characterised by an increase (decrease) in informal (formal) entrepreneurship and a decrease in formal entrepreneurship wealth. Since corruption-induced credit constrained households choose informal entrepreneurship as opposed to subsistence livelihood income in the formal sector, the informal economy is shown to mitigate the extent of income inequality. The third essay explains the role of bureaucratic corruption in undermining public service delivery, public finance, and economic development through incentivising tax evasion. The analysis is based on a dynamic general equilibrium model in which a taxable household observes the quality of public services and decides whether or not to fulfil his tax obligation. Bureaucratic corruption compromises the quality of public services such that a taxable household develops incentives to evade tax payment. We show that corruption-induced tax evasion increases the likelihood of a budget deficit, renders tax payable increase counter-productive, and aggravates the negative effect of bureaucratic corruption on economic development.

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Cantelmo, A. "Essays on multi-sector macroeconomic models for policy analysis." Thesis, City, University of London, 2018. http://openaccess.city.ac.uk/19942/.

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This thesis studies multi-sector macroeconomic models suitable for policy analysis. The first and second chapters use a variety of empirical and theoretical macroeconomic models allowing for the consumption of goods with different durability, and analyze which modeling assumptions and features of the economy are crucial for the conduct of monetary policy. The third chapter focuses on the role of fiscal and monetary policies in the Euro Area, thus providing insights about the joint policy stance that have the potential to inform future policy choices. In the fi rst chapter, we challenge a crucial assumption made in the literature of Dynamic Stochastic General Equilibrium (DSGE) models with durable and nondurable goods about their relative price stickiness. We start with a thorough empirical analysis by estimating a Structural Vector Autoregressive model of the US economy, in which we find that the response of the relative price of durables to a monetary policy contraction is either flat or mildly positive. It signi cantly falls only if narrowly de ned as the ratio between new-house and nondurables prices. These findings are then rationalized via the estimation of two-sector New-Keynesian (NK) models. Durables prices are estimated to be as sticky as those of nondurables, leading to a flat relative price response to a monetary policy shock. Conversely, house prices are estimated to be almost flexible. Such results survive several robustness checks and a three-sector extension of the NK model. These findings have implications for building NK models with durable and nondurable goods, and for the conduct of monetary policy. This chapter is based on an article co-authored with Dr. Giovanni Melina (International Monetary Fund) and published in the Journal of Economic Dynamics and Control. The second chapter adds imperfect labor mobility to a two-sector New- Keynesian model with durable and nondurable goods and estimates it with Bayesian methods. We use the model to design optimal monetary policy and find that an inverse relationship between sectoral labor mobility and the optimal weight the central bank should attach to durables inflation arises. Moreover, we show that the combination of nominal wage stickiness and limited labor mobility leads to a nonzero optimal weight for durables inflation even if durables prices were fully flexible. These results survive alternative calibrations and interest-rate rules and point toward a non-negligible role of sectoral labor mobility for the conduct of monetary policy. This chapter is co-authored with Dr. Giovanni Melina (International Monetary Fund). The third chapter of the thesis focuses on the role of shocks and policies in the Euro Area business cycle. We consider the long-term structure of government debt and introduce a financial sector. These features allow the model to account for both the recent nancial and sovereign debt crises, and the effects of the unconventional monetary policy implemented by the European Central Bank. We then determine the joint fi scal and monetary policy stance in the Euro Area and find that it has been expansionary in the aftermath of the financial crisis but has turned to be contractionary after the sovereign debt crisis. The joint effect of the austerity measures taken by governments of European countries and the zero-lower-bound constraint on the monetary policy rate caused the reversion of the policy stance, which was prevented to be even more contractionary only by the quantitative easing implemented by the European Central Bank. This chapter is based on a paper co-authored with Dr. Nicoletta Batini (International Monetary Fund), Dr. Giovanni Melina (International Monetary Fund) and Dr. Stefania Villa (Bank of Italy).

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El-Shal, Amira. "The effects of health sector reform interventions in Egypt on family planning and maternal and child health." Thesis, City, University of London, 2017. http://openaccess.city.ac.uk/18120/.

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This thesis is composed of four essays that make empirical contributions to impact evaluations of health sector interventions in low- and middle-income countries, in light of the interventions introduced under Egypt's Health Sector Reform Program (HSRP) between 2000 and 2014. We are mainly interested in the effects on family planning and maternal and child health. Different methods are used in this context: difference-in-differences (DD), DD propensity score matching (PSM), fixed effects (FE), random effects (RE) and pooled ordinary least-squares (POLS). In chapter 3, we estimate the effect of improving the quality of health care through facility accreditation on the family planning, maternal health and child health outcomes that we expect to reflect the effect of compliance with quality standards, policies and procedures. We found that accreditation had multiple positive effects, especially on delivery care and child morbidity prevalence. No significant effects were observed, however, with respect to most antenatal care (ANC) outcomes. In chapter 4, we estimate the medium-term effect of introducing user fees on the utilization of family planning, ANC and delivery care services, women's access to health care, and child health status. With respect to ANC, we found that the positive effect of increased willingness to pay for an improved quality of service outweighed the negative effect of the price elasticity of demand. Introducing user fees was associated with a higher likelihood of receiving ANC by skilled health personnel, a higher likelihood of receiving at least four ANC visits and a higher likelihood of receiving iron supplements during pregnancy. However, the two effects offset each other with respect to the outcomes that reflect the utilization of family planning and delivery care services, women's access to health care, and child health status. No net effect at all was observed on these outcomes. Chapter 5 complements the analysis of chapter 4 by allowing us to estimate the net effect of combining user fees and two quality improvement interventions: facility accreditation and performance-based financing (PBF). Again, we observe positive effects on both the utilization and the quality of ANC services. More notably, a positive effect on access to care was observed during our first study period that is more likely to reflect the effect of quality improvements. These effects, however, were reversed during the second study period that is more likely to reflect the effect of user fee introduction. The positive effects reported in chapters 4 and 5 were mainly with respect to ANC. No effects were reported on the outcomes that reflect the utilization of family planning and delivery care services, and child health status. In chapter 6, we estimate the effect of discontinuing provider incentives on health outcomes that reflect the health services targeted by the PBF scheme as well as the quality of these services. We found that discontinuing the incentives had a negative effect on four out of seven health outcomes: knowledge of contraceptive methods, receiving ANC by skilled health personnel, receiving iron supplements during pregnancy, and more importantly, under-five child mortality. Our findings, first, suggest that improving the quality of care through facility accreditation could be particularly effective in improving delivery care and child health. However, a high level of commitment from the central government is indispensable to sustain the positive effects of quality improvement interventions. Second, introducing user fees will not necessarily have negative effects on access and utilization of family planning, maternal health and child health services. However, user fees are ineffective, in general, as a stand-alone policy. Third, negative effects of introducing user fees in low- and middle-income settings on the utilization of healthcare services can be mitigated by officially exempting the poor from any fees at the point of service. More importantly, this exemption should be known to the population. Fourth, combining quality improvement interventions with user fees will not necessarily add to the few positive effects obtained when user fees are introduced as a stand-alone policy. Finally, provider incentives should be introduced carefully in low- and middle-income countries as negative effects are observed when these incentives are discontinued.

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Sobarzo, Fimbres Horacio Enrique. "Price effects from public sector intervention : the case of Mexico." Thesis, University of Warwick, 1989. http://wrap.warwick.ac.uk/107522/.

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Mashele, Makhosini Thaniel. "An analysis of the use of the public private partnership model in financing public sector research and development infrastructure in South Africa." Thesis, Stellenbosch : Stellenbosch University, 2008. http://hdl.handle.net/10019.1/998.

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Thesis (MDF (Business Management))--Stellenbosch University, 2008.
ENGLISH ABSTRACT: Economic development depends on a number of variables, including the ability of the economy to innovate technologically. Innovation depends to a large extent on the value, both qualitative and quantitative, of the research and development (R&D) happening in an economy. R&D in turn require various activities and inputs, including human resources, capital and infrastructure. The focus of this study is on the alternatives available to the public sector for funding public R&D. Most of the current public R&D infrastructure comes from the fiscus, which is strained under the pressure of many competing and immediate needs. An alternate model for funding public R&D infrastructure is that of public private partnerships (PPPs), which are private sector-supported initiatives for delivery of public goods and services. These are used all over the world to deliver public services with a high degree of success in sectors such as health (hospitals and services) and transport (roads, airports). This study looks at how this model can be applied in the delivery of public R&D infrastructure, which has not been popular in South Africa to date. A questionnaire was designed to look at five key areas for investigation with regard to R&D infrastructure, namely: the type of infrastructure as a determinant for the success of the PPP; the perception regarding the risk of the transaction; the incentives available to the private participants; the availability of capital in the market; and the effect of regulations on the transaction. These are investigated through the use of a questionnaire to get responses from people who have an understanding of PPP transactions in the country. The results show that R&D PPPs are possible and should be explored. One of the main reasons why they are currently not popular is because they are under-explored. The respondents felt that: the PPP regulations may have to be changed or adapted to be effective in the administration of PPP transactions; the risks for R&D PPPs seem to be high; sufficient capital exists to fund these transactions; the type of the infrastructure being financed is not necessarily a hindrance; and there are sufficient incentives for the private sector to participate in these transactions.
AFRIKAANSE OPSOMMING: Ekonomiese ontwikkeling hang af van 'n aantal veranderlikes, onder andere die ekonomie se vermoë om tegnologies te innoveer. Sodanige innovasie word in 'n groot mate bepaal deur die waarde, beide kwalitatief en kwantitatief, van die navorsing en ontwikkeling wat binne die ekonomie plaasvind. Navorsing en ontwikkeling vereis weer verskeie aktiwiteite en insette, waaronder menslike hulpbronne, kapitaal en infrastruktuur. Hierdie studie fokus op alternatiewe wat vir die openbare sektor beskikbaar is ten opsigte van die befondsing van openbare navorsing en ontwikkeling. Die huidige openbare navorsing- en ontwikkelinginfrastruktuur kom hoofsaaklik van die fiskus, wat weens verskeie mededingende en dringende behoeftes onder druk is. 'n Publieke-private venootskap (PPV) bied 'n moontlike alternatiewe model vir befondsing van 'n openbare navorsing- en ontwikkelinginfrastruktuur. Openbare goedere en dienste word hiervolgens gelewer deur middel van inisiatiewe wat deur die privaatsektor ondersteun word. Die model word wêreldwyd baie suksesvol aangewend in sektore soos gesondheid (hospitale en dienste) en vervoer (paaie, lughawens). Hierdie studie ondersoek hoe die model toegepas kan word in die skep van 'n openbare navorsing- en ontwikkelinginfrastruktuur in Suid-Afrika, hoewel dit tot dusver nie hier gewild was nie. 'n Vraelys is ontwerp om vyf sleutelareas ten opsigte van navorsing- en ontwikkelinginfrastruktuur te ondersoek, naamlik: tipe infrastruktuur as 'n determinant vir die sukses van die PPV; persepsie aangaande risiko met betrekking tot die transaksie; aansporing wat aan private deelnemers gebied word; beskikbaarheid van kapitaal in die mark en die uitwerking van regulasies op die transaksie. Hierdie vraelys is aangewend om reaksie te verkry van persone wat begrip van publieke-private ondernemings in die land het. Die resultate wys dat PPV's binne 'n navorsing- en ontwikkelinginfrastruktuur moontlik is en verder ondersoek behoort te word. Een van die hoofredes waarom dit tans nie gewild is nie, is die gebrek aan toepaslike navorsing. Respondente het aangedui dat: PPV regulasies moontlik verander of aangepas sal moet word om effektief te wees in die administrasie van sodanige transaksies; die risiko's vir PPV's in navorsing en ontwikkeling hoog voorkom; voldoende kapitaal vir befondsing van transaksies beskikbaar is; die tipe infrastruktuur wat befondsing ontvang nie noodwendig 'n hindernis is nie en dat voldoende aansporing vir die privaatsektor gebied word om aan hierdie transaksies deel te neem.

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Brandlová, Šárka. "Ekonomické aspekty PPP projektů." Master's thesis, Vysoká škola ekonomická v Praze, 2010. http://www.nusl.cz/ntk/nusl-77751.

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Thesis is focused on the analysis of the application Public Private Partnership within the financing of public infrastructures projects. Public infrastructure financing has traditionally lain in the domain of public sector. A tightening of many countries' budgets recently has led to an exploration of alternative resources for financing transport infrastructure as e.g. PPP. The aim of the thesis is to compare or evaluate which form of financing (PPP or using only public finance esp. issue of public bonds) is more effective. The thesis is separate into 2 important parts, theoretical and practical. The theoretical part of the thesis provides the general description of PPP projects, international experiences and about the legal and institutional framework within the EU and Czech Republic. Practical part of the thesis is focused on the main advantages and disadvantages of PPP projects. Here is also part devoted to the financial models using for the comparison which form of financing (PPP or traditional public procurement) is more efficient. Conclusion of the thesis summarizes the gained findings and also assesses which form of financing is more efficient.

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McDowell, Robert W. "Public sector application of real estate analysis and finance techniques : a feasibility study for military family housing." Thesis, Monterey, California. Naval Postgraduate School, 1994. http://hdl.handle.net/10945/26189.

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Anu, Eunice Tamoh. "Investigating the changes in mortgage loan in the UK retail banking sector : a review of the financial crisis and the resulting implications on households." Thesis, University of Wales Trinity Saint David, 2016. http://repository.uwtsd.ac.uk/670/.

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In every society around the world, shelter is one of the most basic needs for every human being. Unfortunately, it is not one of the free gifts of nature. This means financing for housing is unavoidable. However, majority of the individuals are unable to achieve this without financial assistance. The recent 2007 financial crisis intervened in the pattern of housing finance which brought some changes in the market for the demand and supply of mortgage loans. This study therefore aims at investigating the extent of these changes and the resulting implications. It further explores households’ choice of mortgage provider and homeownership status. Using a longitudinal study, data was collected for periods before, during and after the financial crisis, with data ranging from 2003 to 2013. Primary and secondary method of data collection was employed in achieving the aims and objectives of the study. Primary data was collected using questionnaires and interviews. The questionnaire involved 320 bank customers while the interviews was done on 43 participants. Out of these 43 participamts, 31 were from the demand side of the study while 12 were mortage advisors. The findings revealed that the three distinct periods had significant differences in their patterns of housing finance. It was also found that households preferred their mortgages to be provided by the high street banks for security reasons with 88.2% of them satisfied with their mortgage providers. Also, initial deposit and increasing house prices were the most important impediment to obtaining a mortgage. Moreover, the claim by the households that the banks were not willing to grant mortgage loan to them was true to an extent as 54.4% of them agreed to the validity of the statement. Finally, the implications of the financial crisis on households as well as homeownership status implications on tenants were generally negative.

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Ahmad, Salman. "Exploring the private finance initiative (PFI) in the UK's transport sector of roads : a governmentality perspective." Thesis, Queen's University Belfast, 2014. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.675941.

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Mat, Daud Zaidi. "The study of the audit expectations gap in the public sector of Malaysia." Thesis, University of Stirling, 2007. http://hdl.handle.net/1893/447.

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The audit expectations gap is a prominent issue in the private sector. However, in the public sector, the audit expectations gap is an emerging issue that has received little attention by reseachers. To date, only a limited number of studies on the audit expectations gap in the public sector are available, either in the context of a financial audit or a performance audit. This study focused on the audit expectations gap in the context of the latter. The importance of the performance audit function in the Malaysian public sector, combined with recent developments related to this type of audit in the country (such as increasing expectations among the users and associated problems in practice) were the reasons for conducting the study in this area. Thus, the study aims to identify the existence of the audit expectations gap in the Malaysian public sector. In achieving this objective, it explores the perceptions of auditors and Public Account Committee (PAC) members, auditees and ‘other users’ (consisting of journalists, politicians and academics). The conceptual framework in this study was developed based on Chowdhury’s (1996) and Porter’s (1993) approaches. Utilising the accountability-based framework as suggested by Chowdhury, six audit concepts (auditor independence, auditor competence, audit scope, auditor ethics, audit reporting and auditing standards) were examined. Porter’s model was subsequently utilised to identify the nature and the components of the gap. This study employed two types of research methods: interviews and audit report analysis. Interviews were conducted with 37 participants comprising of auditors, PAC members, auditees and ‘other users’. The second research method involved the examination of four performance audit reports. The findings of this study indicated that the audit expectations gap exists in the Malaysian public sector in the context of performance auditing. The analysis of interviews and audit reports clearly suggest that the audit expectations gap exists over a number of auditing issues. These comprise fraud detection exercises, the influence of management, executive and other parties on auditors, outsourcing the audit to private audit firms, content and format of the audit report and extending the audit mandate to cover the question of merits of policy.

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Kunigonytė, Jurgita. "Europos Sąjungos finansų politikos įtaka Lietuvai." Master's thesis, Lithuanian Academic Libraries Network (LABT), 2006. http://vddb.library.lt/obj/LT-eLABa-0001:E.02~2006~D_20061228_130057-14985.

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Europos Sąjungos finansų politika pagal savo prigimtį, įgyvendinimo procesą ir ateities tendencijas yra labai reikšminga Europos Sąjungos bendros ir finansų rinkos integracijos ir efektyvaus veikimo atžvilgių. Lietuva, vadovaudamasi Europos Sąjungos finansų politikos gairėmis ir reikalavimais, padarė didelę pažangą siekdama integruotis į Europos Sąjungos bendrą finansų rinką ir sudarė sąlygas tobulėti valstybės privataus finansų sektoriaus rinkai ir viešų finansų sistemai bei užtikrinti darnų ekonomikos augimą. Jeigu ateityje Europos Sąjungos finansų politika bus vykdoma kryptingai, galima tikėtis, jog bus sukurta konkurencingiausia ir dinamiškiausia ekonomika pasaulyje, turinti autentišką bendrą rinką, kurios egzistavimui reikalinga bendra valiuta norint garantuoti, jog bendra rinka turės potencialą augti bei klestėti.
The European Union’s finance policy, due to its nature, process of implementation and future tendencies, is of high importance in respect of the integration of European Union’s common and finance market and effective operation. Lithuania, following the requirements and milestones of the European Union’s finance policy, made a huge progress seeking for the integration into the common finance market of the European Union, moreover, Lithuania capacitated the market of public finance sector and the system of public finance to improve and ensured harmonious growth of the economy. If the European Union’s finance policy is implemented purposefully in the future, we may expect that the most competent and the most dynamic world’s economy, having the authentic common market and common currency, which is necessary for its existence, in order to guarantee that the common market will have the potential to grow and to flourish, will be created.

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Farooq, Sohail. "Assessing foreign aid, the case of foreign aid to the education sector." Thesis, University of Glasgow, 2012. http://theses.gla.ac.uk/3691/.

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The ultimate financial responsibility for improving educational access, participation, and quality lies with national governments. However, for many countries, particularly the poorest, educational progress depends, to a significant extent, on economic assistance coming from bilateral and multilateral donors. This study tries to understand how donors mobilize and allocate their resources to promote the education sector in the developing world, and to what extent they are successful in doing so. Our primary interest lies in the analysis of donor agencies and their behaviours, rather than the situations of education aid recipient countries. In addition to a chapter for the introduction and another for the conclusion, we assess education aid with the help of three interlinked studies. First, we look at how donors resource transfers have affected education sector achievements in education aid recipient countries. Second, we examine how donors commit their education aid resources for education in developing countries. Third, we present the determinants of the donors efforts (the total volume of education aid that a donor country makes available to the all recipients) in providing foreign aid for the education sector.

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Dlakwa, Mohammed Musa. "Analysis of some problems in the management and cost control of public sector construction projects in Nigeria." Thesis, University of Stirling, 1990. http://hdl.handle.net/1893/2144.

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Development is a difficult, painful and long-term enterprise. Not only because of world wide social and economic changes with extensive debts problems, inflation, recession and slow growth, but it is also a matter of finding the technically and economically optimum solution. Over the long-term, the challenge for developing countries is to use their limited resources more efficiently and more equitably through the management of all investment outlays in both the public and private sector. Construction is a major investment sector in Nigeria, attracting an average of over 60% of all capital investment, with over 70% of that 60% sponsored by the public sector. Construction projects handled by the public sector in developing countries are however fraught with problems, from inception through to completion and beyond. This is well known to members of the public sector agencies. Year after year, in good times and bad, development projects suffer from a host of problems: some of design; others of appraisal; and still others of implementation. Most construction projects are characterised by overruns in cost and time, and are sometimes halted altogether before completion. It is therefore necessary to understand the problems underlying the system being practised, to establish a realistic pattern, and to be able to interpret and correct any abnormalities. A lack of understanding of the constraints leads to unrealistic planning, and to later problems that may become insoluble. This research was therefore aimed at identifying these problems, many of which arise from attempts to implement a technology, in this case management technology, in a country other than the country of its origin. In a comparative study between Nigeria and Scotland a large number of public agencies which sponsor construction projects, and the contracting and consulting organisations that work for these agencies, were surveyed using both face-to-face interviews and the postal questionnaire technique. It was found that the major problems in Nigeria are: bureaucratic obstacles affecting timely payment to contractors; ambiguity in consultant/client contract agreements; lack of sufficient qualified professionals in the agencies; and lack of suitable information on which to base initial estimates. Recommendations for improving practice in Nigeria include: administrative reform of construction agencies to reduce the trammels of bureaucracy; a better system of funding by central Government; establishment of a construction cost information agency; and payment of competitive salaries to public sector professional staff. These changes, taking into account the cultural environment of Nigeria, should enable decisions to be made with greater certainty of outcome by all parties involved.

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Wood, Eric. "Private sector engagement in public sector education in England, 1997-2005 : an analysis of New Labour's policy with a focus on modernisation, competitiveness and the Private Finance Initiative." Thesis, University of Warwick, 2006. http://wrap.warwick.ac.uk/2448/.

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This thesis examines the philosophical drivers behind the education policy agenda pursued by the New Labour Government and will test the assertion that: Mrs Thatcher had a project. Blair's historic project is adjusting us to it. (Hall, S. 1998.14. p 28) The research considers the legislative policy, practice and continuities between Conservative and New Labour governments and critically analyses the 'Third Way'with particular reference to modernisation, competition and the restructuring of the welfare state in response to globalisation. The thesis also examines the growth of the private sector in state education, the development of the Private Finance Initiative in both policy and operational terms and draws conclusions about the implications for the governance of education of the trend towards a 'liberal state', where individual choice is perceived to be more effective and efficient than a model of governance based upon social values. The qualitative nature of this thesis includes consideration of the issues involved in the changing concepts of citizenship and consumerism within the evolving, redefined welfare state; examines the assertion by Marquand (2000) that incessant marketisation has generated a culture of distrust which has corroded the values of professionalism, citizenship, equity and public service and draws conclusions about accountabilities within a modern social democracy. The study includes an analysis of education legislation and a critique of policy intent in the broader context of societal impact. This incorporates an analysis of primary texts, government policy statements as well as Green and White Papers, compared and evaluated with contemporary research literature. Coupled with a case study of the Private Finance Initiative in Stoke-on-Trent the theoretical triangulation (Denzin, 1970) is combined with witness accounts of the 4 complex phenomena' associated with a Private Finance Initiative' (Adelman, 1980) and enabled cross cutting perspectives to be illuminated and the knowledge and understanding of modernisation extended. Such triangulation extends knowledge by clarifying meaning by the identification of different ways in which modernisation is perceived in both theoretical and practical terms (Silverman, 1993; Flick, 1998). The thesis considers within the reality of the case study the importance of the local democratic voice and local political actions in educational governance, including the political/professional/public interface. This leads to conclusions about the need for a modern social democracy to explore the concept of accountability to the citizen as well as the consumer of services within a framework of evolving local policy networks and emergent patterns of governance within state education. In essence this thesis examines whether it is a superficial assertion to equate the 'Third Way'with neo-liberalism (Marquand, 2000; Driver and Martell, 1998,2000; Giddens, 1998,2000) or that the plurality of 'Third Ways' have translated into operational definition, legislation and policies within a model of education which lacks a coherent and identifiable national drive and is therefore critically dependent upon local interpretation and local political response. It also reaches conclusions about the citizen - state relationship, the validity of the concept of the 'social investment state' and suggests constituent elements of a 'fourth way' as a contribution to the issue posed by Whitty, (2000), 'how can education best help reconstruct the social fabric and new concepts of citizenship - and who shall influence its design? (p 8).

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Sakala, Henry. "Public-private partnerships in the transport sector : a case study of the railway systems of Zambia Limited." Thesis, Stellenbosch : University of Stellenbosch, 2009. http://hdl.handle.net/10019.1/980.

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Thesis (MDF (Development Finance))--University of Stellenbosch, 2009.
ENGLISH ABSTRACT: Historically, passenger railway service has played a vital role in the socio-economic activities in Zambia. Its capacity to transport a great mass of people at a low cost has had a profound appeal, especially amongst the low-income segment of society, in this country. This research report sought to examine the concessioning process for Railway Systems of Zambia Limited in relation to international best practice, to examine the extent of passenger train delays in relation to acceptable international standards and to recommend policy and remedial measures. A review of relevant literature on public-private partnerships in infrastructure projects including passenger railway concessioning and passenger train punctuality, in relation to international standards was undertaken. The research covered the period 2002 to 2007, with an average sample size of 11% (144 passenger train trips out of 1 344). Data from timetables and train logbooks, relating to arriving and departing trains, enabled the computation of the extent of delays or punctuality of trains. While international best practice requires passenger trains to operate at between 90% and 95% punctuality rate within 10 to 15 minutes of the timetable, Railway Systems of Zambia’s passenger trains, for the period 2004 to 2007, recorded between 92% and 100% delay rates for trains expected to arrive within 10 and 15 minutes of the timetable. The maximum delay for the arrival of a train in 2005 was 1 422 minutes (23 hours 42 minutes). Therefore, this research report recommends the formulation of a policy framework, a legal and regulatory framework and the establishment of an institutional arrangement that will be responsible for public-private partnerships projects in Zambia. In addition, increased investment in the railway infrastructure by the concessionaire is recommended in order for trains to increase speed and therefore improve their punctuality.
AFRIKAANSE OPSOMMING: Histories het spoorweg passasiersdienste nog altyd ‘n deurslaggewende rol in die sosio-ekonomiese aktiwiteite van Zambië gespeel. Die kapasiteit om groot massas mense teen ‘n lae koste te vervoer, was baie aanloklik in hierdie land, veral vir die lae-inkomstegroep van die gemeenskap. Hierdie navorsingsverslag poog om die konsessioneringsproses van die Spoorwegsisteem van Zambië Beperk, in verhouding tot internasionale toppraktyke, te ondersoek; om die omvang van passasierstreinvertragings in verhouding tot internasionaal aanvaarbare standaarde te ondersoek en ook om beleid en herstellende veranderings aan die hand te doen. ‘n Verslag van toepaslike letterkunde oor publiek-private vennootskappe in infrastruktuurprojekte, wat spoorweg passassiers konsessionering en stiptelikheid van passasierstreine vergelyk met internasionale standaarde, is onderneem. Die navorsing dek die periode van 2002 tot 2007, met ‘n gemiddelde steekproef grootte van 11% (144 passasiers treinritte uit ‘n total van 1 344). Data van treinroosters en treinjoernale, wat verband hou met die aankoms en vertrek van treine, het die berekening van die omvang van vertragings of stiptelikheid van die treine moontlik gemaak. Terwyl internasionale toppraktyke vereis dat passasierstreine binne ‘n 90% en 95% stiptelikheidskoers van 10 tot 15 minute, volgens die reisrooster, moet funksioneer, het die passasierstreine van Zambië vir die periode van 2004 tot 2007, ‘n vertragingskoers van tussen 92% en 100% vir treine wat binne 10 tot 15 minute van die reisrooster se tye moes aankom, aangeteken. Die maksimum vertraging op die aankomstyd van ‘n trein was in 2005 teen 1 422 minutes (23 hours 42 minutes). Derhalwe beveel hierdie navorsingsverslag aan dat ‘n beleidsraamwerk en ‘n wets- en reguleringsraamwerk geformuleer moet word, asook die instelling van ‘n genootskapsooreenkoms, wat verantwoordelik sal wees vir die publiek-private vennootskapprojekte in Zambië. Ter aanvulling word ‘n verhoogde belegging, deur die konsessionaris, in die spoorweg infrastruktuur aanbeveel sodat treine vinniger kan ry en dus meer stiptelik sal wees.

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Damm, Christopher. "The relationship between state funding and the organisational characteristics of third sector organisations : an exploratory data analysis." Thesis, University of Birmingham, 2017. http://etheses.bham.ac.uk//id/eprint/7254/.

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This thesis explores the relationship between state funding and the organisational characteristics of third sector organisations (TSOs). It presents a cross-sectional exploratory data analysis conducted using data from charities’ accounts and annual returns. The thesis contributes to a longstanding debate about the impact of state funding on TSOs’ independence and the role of the third sector within the welfare mix. The findings make an original contribution to this debate by opening up a new stream of quantitative evidence, to supplement the largely qualitative evidence base that already exists. This makes it possible to explore how changes at the organisational level have played out across the sector as a whole. In particular, it explores the links between state funding and TSOs' voluntary characteristics, financial health, and administrative spending. The findings suggest a mixed picture. Various associations were found in the data, though there were also numerous negative results where no link was found. Those associations that were uncovered were generally quite small. As such there is little evidence overall to suggest that state income is acting as a major driving force for organisational change within the third sector.

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Barnard, Nico. "The scope for private sector involvement in infrastructure development and finance in South Africa." Thesis, Stellenbosch : Stellenbosch University, 2014. http://hdl.handle.net/10019.1/96166.

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Thesis (MDF)--Stellenbosch University, 2014.
The aim of the study is to provide a framework for effective private sector participation in infrastructure development and finance, not to provide a rigid structure to guide the participation. Thus the framework is a flexible guide to guide the relationship with local governments. The study will be limited to the following aspects: - projects commissioned and managed by the local sphere of government in South Africa; - projects financed by funding outside of the national treasury budget allocations; and - infrastructure projects that may include physical infrastructure (roads), social infrastructure (clinic) and economic infrastructure (electrical substation). Even though the scope of the study may be limited, the study can provide critical insight in terms of private sector participation possibilities in infrastructure development in South Africa.

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Gábor, Sömjéni. "Is there any economic influence on the cultural expenditures? : A framework of the UK culture sector." Thesis, Högskolan i Jönköping, Internationella Handelshögskolan, 2011. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-15917.

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This paper explores the relation between the governmental expenditures on the cultural sector and the performance of the economy in the UK. In welfare economies it is the government’s role to shorten the effects of the occurring market failures. It is shown that in the cultural sector, two market failures, the high fix cost and the productivity lag are appearing. In order to ease these effects the government intervening into the market mechanisms by giving grants and subsidies to the stakeholders. In the empirical part a time series analysis is executed between the GDP, the total governmental expenditures and the governmental expenditures on the cultural services on a 60 years interval in the UK. It is shown that the three variables have the same order of integration, they move together over time, furthermore cointegration was detected between them. With Granger causality test it was proven that there is a bidirectional informal connection between the performance of economy and the government’s cultural expenditures.

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Ozahci, Erhan. "Application Of Strategic Planning Methodology To Republic Of Turkey Ministry Of Finance." Master's thesis, METU, 2007. http://etd.lib.metu.edu.tr/upload/2/12608379/index.pdf.

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In this study, it is aimed to determine and implement a process based strategic planning methodology for Turkish Ministry of Finance. Proposed methodology has been implemented in Ministry of Finance by a TÜ
BiTAK supported strategic management project in collaboration with Ministry of Finance Strategy Development Unit (MoF_SDU), TÜ
SSiDE and a private Consultancy Company. This project was a direct consequence of reforms on Public Financial Management and stipulated by the Laws No. 5018 and 5436 which have been prepared based on efficiency in public service delivery. Proposed methodology is different from other strategic planning methodologies for public and non-profit organizations because it uses a combination of numerous techniques that are previously developed for strategic planning. Examples are mentoring, e- learning, idea tray method, and process modelling. Firstly, strategic planning methodology is determined with close inspection of international approaches and best practices. Ministry of Finance&rsquo
s organizational chart is redesigned to enable more effective and efficient operation. Ministry of Finance is divided to 14 strategic business units (SBUs). For every SBU, detailed environmental analyses are conducted and critical issues are derived. Mission and strategic vision statements are clearly determined and core processes are modelled and standardized. Strategic goals and detailed objectives are formulated. Finally, performance indicators are determined for every objective for evaluation and continuous improvement. At the end of the implementation, 2008-2012 strategic plan for Ministry of Finance is prepared and numerous organizational improvements are observed.

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Yosinta, Ourathai. "Organizational culture and good governance in the public sector : the case of provincial administration in Thailand." Thesis, University of Birmingham, 2016. http://etheses.bham.ac.uk//id/eprint/6976/.

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This research investigated the relationship between organizational culture and public sector performance management. The research was based on a study of the promotion of good governance in the Thai public sector through the implementation of the performance agreement (PA) scheme, using Key Performance Indicators (KPIs). The scheme had faced numerous challenges, perceived to be influenced by organizational culture. It had been assumed that a transformational shift in the organizational culture of the civil service, in the direction of market-based or new public management (NPM) values, was required in order to secure improved performance. The research aimed to explore how organizational culture influences civil service performance and identify other organizational factors that may also influence civil service performance in the provincial administration of Thailand. The research used a mixed methods approach of questionnaire surveys and semi-structured interviews, based on the Competing Values Framework (CVF). Questionnaire surveys were carried out with 480 civil servants within 16 provinces. Semi-structured interviews – in-depth and focus group – were conducted within four provinces. A distinction was made between the low and high KPI scoring provinces. The findings of the research suggest that there was no dominant type of culture in the low and high KPI scoring provinces. Instead, a strong culture was found to be important in gaining high KPI scores, supported by participative leadership and appropriate management. Leadership style appeared to influence whether the public services performed to a high level, which seemed to be achieved through a balance between task focussed and people focussed. Therefore, a transformational cultural shift may not be required, but instead more effective leadership and management.

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Elahi, Tajammal. "The Project to Improve Financial Reporting and Auditing (PIFRA) : issues in the implementation of ERP in public sector of Pakistan." Thesis, University of Essex, 2015. http://repository.essex.ac.uk/16002/.

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This is a case study on PIFRA (Project to Improve Financial Reporting and Auditing) in the public sector of Pakistan. It investigates the process of implementation of New Accounting Model (NAM) and SAP as a reform imitative to overhaul the century old archaic financial management system. This study has three dimensions: implementation of SAP as an integrated system for budgeting and accounting offices at all levels of Government; introduction of modified cash basis of accounting; and the World Bank as a meaningful force for change. New institutional sociology (NIS) and institutional logic have been employed to analyse the process of change at macro as well as micro level. The concepts of isomorphisms in general and cognitive-cultural in particular, legitimacy, decoupling, and agency have been used to understand and assess the extent of institutionalization. The analysis has been divided into three areas: SAP implementation, organizational change, and training. In SAP implementation, separation of audit and accounts, duality of control and role of the World Bank have been analysed to comprehend the issues and their implications for institutionalization. In organizational change, change management as a component of the project, role of the PricewaterhouseCoopers as an architect of NAM and as a supervisory consultant, technical staffing, core team and resistance have been evaluated through NIS. In training, multiple perspectives of training and its distinct relation with institutionalization have been investigated. It is a qualitative study with interpretive approach. Data has been collected through semi-structured interviews, project documents and reports generated by the World Bank and the project management team. The thesis seeks to contribute in terms of its three dimensions and the use of NIS and institutional logic to have a broader picture of the change. Moreover, the identification of training as a driving factor in institutionalization and the role of accountants in post-SAP implementation scenarios also make a contribution to the accounting literature. Contributions towards policy and practice have been made in terms of advice for the World Bank, Government and practitioners when undertaking such projects in future.

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Edmark, Karin. "Strategic Interactions among Swedish local governments /." Uppsala : Department of Economics [Nationalekonomiska institutionen], Uppsala universitet, 2007. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-8211.

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Aggarwal, Laira. "What do we know about the recent performance of Indian banks?" Scholarship @ Claremont, 2019. https://scholarship.claremont.edu/cmc_theses/2215.

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This paper examines the performance of Indian banks by studying the effects of recent reforms and macroeconomic events. Indian banks went through a period of reforms in the past twenty years. The impact of these reforms and major macroeconomic events has been examined using time-series analysis. Event studies offer additional perspective on the short-run effect of the events on different types of Indian banks. Although, the event dates are not all statistically significant in the time-series regressions, the demonetization of 2016 is significant in the event study analysis. Thus, while reforms and events have immediate impact on the performance of Indian banks, the effects did not always persist over the larger time-period.

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40

Ahmad, Ala'eddin Mohamad Khalaf. "The impact of competitive environment on the service marketing mix strategy of health organisations in developing countries : Jordanian private sector hospital senior managers perspective." Thesis, University of Huddersfield, 2007. http://eprints.hud.ac.uk/id/eprint/4614/.

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The environment of Jordanian private hospitals has never been so complex and challenging as at present. There are huge influences on these hospitals in the current climate. Managers in these hospitals are finding themselves, more than ever before, confronted by increasing pressures and demands which they must seek to understand and respond to in their service marketing mix strategy in order to achieve effective strategic marketing in terms of their choice of service marketing mix strategy components (namely health service, pricing, distribution, promotion, physical evidence, process, and personal strategies). This research, therefore, investigates the influence competitive environment factors have on the service marketing mix strategy components made by Jordanian private hospital managers, and on the reality of the Jordanian private hospital marketing. The literature review reveals that there is an extensive body of research that addresses service marketing mix strategy in general but there is less emphasis on the health sector. Moreover, evidence of the impact of a competitive environment on service marketing mix strategy and hospital performance measurements' criteria in the hospital industry is limited. In order to explore this issue, a triangulation method was used to collect primary data through a questionnaire, which was administered in the private sector hospitals in the six Jordanian governorates and, via in-depth semi structured interviews with hospital managers and experts in the health services in Jordan. All Jordanian general private sector hospitals were targeted in this research rather than a representative sample of these hospitals. A purposive sampling strategy was used to choose the participants in this research. In total, - 143 senior managers (general manager, administrative manager, medical manager, public relation manager, marketing manager, and out patients clinic manager) participated in this study. The results confirm significant differences in the influence of competitive environment factors on service marketing mix strategy components. They also reveal that the components of the marketing mix strategy have varied significant and insignificant influence on the hospital performance, which demonstrates that the hospital performance phenomenon is complicated and multi-dimensional in nature. Furthermore, the results exhibit that hospital managers might benefit more by placing more emphasis on an integrated service marketing mix strategy and recognising the competitive environment influences on their hospitals. The results also highlight several implications for future research in health services marketing and fills in several gaps in the existing literature on health services marketing. This research contributes to the academic and practical knowledge as being one of the first attempts to investigate empirically the impact of the competitive environment on service marketing mix strategy. As such, the influences of service marketing mix strategy on hospitals' performance criteria, identifying the main concerns and problems which face the management and marketing in Jordanian private sector hospitals, are explored in addition to recognising the vital roles of marketing in improving the hospital performance. This research integrates, refines and extends the empirical work conducted in the field of health services marketing in developing countries. It raises many implications for managers in these hospitals, such as considering the importance of influences by competitive environment on marketing mix strategy and the vital role this strategy plays in the performance of Jordanian private sector hospitals. This research provides useful guidelines for further and future research possibilities such as exploring the influence of the competitive environment factors influence on hospital performance criteria.

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Fonseca, João Carlos Nunes Reis Campos. "The economic consequences of Portuguese State’s movement towards business sector." Doctoral thesis, Universidade de Aveiro, 2014. http://hdl.handle.net/10773/13245.

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Doutoramento em Economia
Over the last 36 years, the relationship with the Portuguese state-owned enterprises registered several dynamics: nationalizations, privatizations and corporatization of public services. However, until now the State Business Sector from a national accounts perspective was never analyzed. Based on data collected and compiled for the first time at Statistics Portugal, this PhD thesis aims to test, analyzing in eight dimensions, whether the weight of the State Business Sector increased and if it contributed positively to the Portuguese economy, from 2006 to 2010. In addition to this analysis, an overview of the economic theory of state intervention in the economy, the paradigm changes of public policy in the international context, the evolution of the Portuguese State Business Sector since 1974, accompanied with a business and national accounting perspective between 2006 and 2010, are also presented. The results allow us to conclude that, in general, the weight of the State Business Sector in the Portuguese economy increased and had a tendency of a positive contribution to its economic growth. The State Business Sector also contributed positively to the nominal labour productivity (although with a decreasing trend of contribution to growth over the period under review) and the profitability of the non-financial corporations sector (although impairing the overall ratio of this sector). Nonetheless, the State Business Sector contributed negatively to the fairness in compensation of employees (although with an improvement trend) and to the competitiveness of labour cost, investment and sectorial sustainability of the Portuguese economy (reinforced by a falling trend). The results also suggest that the State Business Sector had an economic behaviour closer to a welfare maximizing model than to a profit maximizing model. This distinct performance with respect to the institutional sector in which is included, highlights the need to study and reassess the relationship of the state with public corporations, in light of agency theory using micro-data. Lastly, contributions to improve the economic performance of the State Business Sector and future prospects of evolution are presented.
Nos últimos 36 anos, a relação do Estado português com as empresas públicas registou várias dinâmicas: nacionalizações, privatizações e empresarialização de serviços públicos. No entanto, até à presente data nunca se analisou o Setor Empresarial do Estado na perspetiva das contas nacionais. Tendo por base dados recolhidos e compilados pela primeira vez no Instituto Nacional de Estatística, a presente tese de doutoramento pretende testar se, nas oito dimensões analisadas, o peso do Setor Empresarial do Estado aumentou e se teve contributos positivos para a economia portuguesa, no período de 2006 a 2010. Para além desta análise, é ainda apresentada uma síntese da teoria económica sobre a intervenção do Estado na economia, das mudanças de paradigma de políticas públicas ao nível internacional, da evolução do Setor Empresarial do Estado desde 1974 acompanhada de uma perspetiva da contabilidade empresarial e nacional de 2006 a 2010. Os resultados permitem-nos concluir que, em termos gerais, o peso do Setor Empresarial do Estado na economia Portuguesa aumentou e teve uma tendência de contributos positivos para o seu crescimento económico. O Setor Empresarial do Estado contribuiu ainda positivamente para a produtividade nominal do trabalho (embora com tendência negativa para o seu crescimento ao longo do período em análise) e para a rentabilidade do setor das sociedades não-financeiras (embora prejudicando o rácio global deste setor). No entanto, o Setor Empresarial do Estado contribuiu negativamente para a equidade salarial (embora com tendência de melhoria) e para a competitividade dos custos de trabalho, sustentabilidade do investimento e setorial da economia portuguesa (reforçada com uma tendência de deterioração). Os resultados indiciam também que o Setor Empresarial do Estado teve um comportamento económico mais próximo de um modelo de maximização de welfare do que de um modelo de maximização de lucros. Este desempenho distinto relativo ao setor institucional onde se encontram inseridas suscita a necessidade de ser investigada e reavaliada a relação do Estado com as empresas públicas à luz da teoria de agência, utilizando micro-dados. Finalmente, apresentam-se contributos para melhorar o desempenho económico do Setor Empresarial do Estado e para as perspetivas futuras de evolução.

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Adeleke, Cecily Joy. "Corporate Social Responsibility in the Nigerian Banking Sector." ScholarWorks, 2014. https://scholarworks.waldenu.edu/dissertations/85.

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Corporate social responsibility is presently defined by the World Business Council of Sustainable Development as persistent commitment by businesses to behave ethically and contribute to economic development while also increasing the quality of life of employees, their families, and the community. Guided by Freeman's stakeholder theory, this study examined the relationship between corporate social responsibility and the Nigerian bankers' reported satisfaction with the Nigerian banking sector. Survey data were collected from a convenience sample of 99 Nigerian bankers, including branch managers, zonal managers, tellers, marketers, and investors. A single-stage sampling procedure was used to elicit their satisfaction with the Nigerian banking sector and their perceptions of corporate social responsibility. Corporate social responsibility was conceptualized as a composite variable, with dependent sub-variables of ethics, human rights, and employee rights. A Pearson's r correlation test indicated a significant relationship between corporate social responsibility and Nigerian banker satisfaction (p < .05). These findings suggest that a majority of Nigerian bankers are satisfied with the banking sector which they feel, overall, behaves in a socially responsible way, although they also noted concerns related to insider abuse and a lack of transparency among internal processes. Implications for positive social change include informing policy makers and regulatory agencies in Nigeria about changes to public policy and the regulatory banking environment about risks associated with insider abuse and other internal processes in the banking industry that may damage efforts to improve corporate social responsibility with the goal of enhancing economic development in Nigeria.

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43

Danek, Julius (Julius Bruno Sherlock Othmar). "A functional perspective to planning waste systems in developing countries : strategies for the public and private sector : A case study of Muzaffarnagar, India." Thesis, Massachusetts Institute of Technology, 2015. http://hdl.handle.net/1721.1/99035.

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Thesis: M. Fin., Massachusetts Institute of Technology, Sloan School of Management, Master of Finance Program, 2015.
Cataloged from PDF version of thesis.
Includes bibliographical references (pages 70-76).
This thesis introduces a new framework for establishing waste systems in developing countries. The functional perspective is a stand-alone extension of integrated sustainable waste management. In January 2015 the functional perspective was applied to analyze the waste system of Muzaffarnagar, India, and to propose solutions to existing problems. The functional perspective was found to be helpful as a theoretical framework guiding waste system design processes for decision makers both in the public as well as private sector.
by Julius Danek.
M. Fin.

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44

Gebhardt, Georg Andreas. "Zweckzuweisungen als Barriere für Public Private Partnership (PPP) /." Berlin : Duncker & Humblot, 2009. http://d-nb.info/995141584/04.

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45

Vlachos, Jonas. "Risk matters : studies in finance, trade and politics." Doctoral thesis, Handelshögskolan i Stockholm, Samhällsekonomi (S), 2001. http://urn.kb.se/resolve?urn=urn:nbn:se:hhs:diva-589.

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This thesis consists of four self-contained empirical essays. In the first essays "Markets for Risk and Openness to Trade: How are They Related?" (with Helena Svaleryd), we ask if there is an empirical relationship between financial development and openness to trade. Numerous theoretical papers have noted that trade policies can be used as an insurance against shocks from international markets. It follows that the development of markets for risk should reduce the incentives to rely on trade policy for insurance purposes. Feeney and Hillman (2001) explicitly demonstrate how asset-market incompleteness can affect trade policy in a model where trade policy is determined by the lobbying of interest groups. If risk can be fully diversified, special-interest groups have no incentive to lobby for protection, and free trade will prevail. Likewise, trade liberalization might increase the demand for financial services, thereby spurring the development of financial markets. Using several indicators of both openness to trade and financial development, we find an economically significant relation between the two. In particular, the relation holds when using the well known, although criticized (Rodriguez and Rodrik 1999), Sachs-Warner index, and structurally adjusted trade, as indicators of openness. For tariff levels and non-tariff barriers, the results hold only for relatively rich countries. Causality seems to be running both from openness to financial development and the other way around, depending on which indicator and methodology are used. Due to underlying technological differences, industries differ in their need for external financing (Rajan and Zingales, 1998). Since services provided by the financial sector are largely immobile across countries (Pagano et al., 2001), the pattern of specialization should be influenced by the degree of financial development. In the second essay, "Financial Markets, the Pattern of Specialization, and Comparative Advantage: Evidence from OECD Countries" (with Helena Svaleryd), we find this effect to be strong. In fact, the financial sector has an even greater impact on the pattern of specialization among OECD countries than differences in human- and physical capital. Further, the financial sector gives rise to comparative advantage in a way consistent with the Hecksher-Ohlin-Vanek model. Large and active stock markets, as well as the degree of concentration in the banking sector, produce the strongest and most consistent effects. The results also support the view that the quality accounting standards and the legal protection of creditors affect the pattern of industry specialization, while the depth of the financial system (measured by the amount of liquidity in an economy) is a source of comparative advantage. The third essay, "Who Wants Political Integration? Evidence from the Swedish EU-Membership Referendum" looks directly at the determinants of political attitudes towards regional integration and separation. More precisely, the regional voting pattern of the 1994 Swedish EU-membership referendum is analyzed. To explain this variation, an empirical investigation based on the extensive theoretical literature analyzing the determinants of regional economic and political integration is undertaken. Since enhanced possibilities of inter-regional risk sharing is one of the main gains from integration discussed in the literature (e.g Persson and Tabellini, 1996), special attention is given to this issue. The empirical results show that individuals living in labor markets exposed to a high degree of risk were more negative towards EU-membership than those living in safe ones. It is also shown that inhabitants of high-income labor markets, with a high level of schooling and small receipts of central government transfers were relatively positive towards the EU-membership. Given the restrictive regulations limiting discretionary policies within the EU, these results suggest that inhabitants of safe and rich regions voted in favor of secession from the Swedish transfer system, rather than in favor of European integration. In the final essay, "Does Labor Market Risk Increase the Size of the Public Sector? Evidence From Swedish Municipalities", I study if a high degree of private labor-market risk is related to a larger public sector in Swedish municipalities. The theoretical hypothesis is based on Rodrik (1998), who argues (and shows empirically) that countries exposed to a high degree of external risk also tend to have larger governments. The safe public sector is expanded at the expense of risky sectors and hence provides insurance against income volatility. Several problems related to data availability and comparability that apply to cross-country studies are circumvented by using data on Swedish municipalities. Further, there is no need to aggregate the public sector across different levels of governance: local risk is directly related to the size of the local public sector. The paper is not a complete parallel to Rodrik’s study, however. Several alternative insurance mechanisms that do not exist between countries are available between municipalities. For example, the central government provides insurance against individual-specific risk such as unemployment and illness, private capital markets are better integrated within than between countries, and the central government can hand out grants to municipalities. Despite these mitigating factors, local labor-market risk is found to have a substantial impact on municipal public employment. It is also found that shocks increasing the size of the public sector across all municipalities tend to generate a larger increase in risky locations. For municipal public spending and taxation the results are, however, much weaker. Hence, labor-market risk affects the labor intensity of the municipal public sector, rather than its size.

Diss. Stockholm : Handelshögskolan, 2002

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46

Fernandes, Mário Jorge Correia. "Evaluating risks in public private partnerships : the case of the portuguese road sector." Master's thesis, Instituto Superior de Economia e Gestão, 2012. http://hdl.handle.net/10400.5/5033.

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Master of Science Finance (Financial Institutions)
Throughout the last few decades, it has been verified a significant raise in the use of Public-Private Partnerships, by part of the world’s economic governments as an alternative in the management and financing of infrastructural investments to joust the problematic of the infrastructure gap. From the projects sponsors point of view, the capital investment's strategic decisions are fundamental, so that the feasibility studies of partnerships are a critical factor for operational success and their management. However, for these agents, the risk-return question is preponderant, due to the soaring of financial, political and market risks, which will organize the imperative of application of new evaluation methods, as the case of the IRR-at-Risk, Cash Flow-at-Risk and the NPV-at-Risk, where the latter combines the dual issue of risk-return and the average weighted cost of capital. Therefore, this investigation aims to proceed to the application of the listed methods for the Public-Private road institutions in Portugal. Based in a sample from the 7 SCUT and 7 new concessions (highways), we will seek to apply the decision methods of risk-return in order to prove that these can provide better decisions in matters of risk and investments analysis compared to the methods of traditional financial evaluation. The results show that, for the sponsors, the methods of risk-return provides better decisions if include the element of risk in projects.
Ao longo das últimas décadas tem se verificado um aumento significativo, por uma parte da governação económica mundial, ao recurso de PPP, como alternativa em matéria de gestão e de financiamento de investimentos infra-estrtuturais, de modo a combater a problemática do the infrastructure gap. Do ponto de vista dos sponsors (patrocinadores) dos projectos, as decisões estratégicas de investimento de capital são fundamentais, pelo que os estudos de viabilidade das parcerias são um dos factores críticos para o sucesso operacional e de gestão dos mesmos. Porém, para estes agentes, a questão de retorno-risco é preponderante, dados os elevados riscos financeiros, políticos e de mercado, o que irá originar o imperativo de aplicação de novos métodos de avaliação, como o caso do IRR-at-Risk, Cash Flow-at-Risk e do NPV-at-Risk, sendo que este último combina a questão dupla de retorno-risco e o custo médio ponderado do capital. Assim, esta investigação tem como objectivo proceder à aplicação dos métodos indicados às PPP rodoviárias em Portugal. Com base numa amostra de 7 SCUT e 7 Auto-Estradas, procurar-se-á aplicar os métodos de decisão de retorno-risco, de modo a comprovar que o estes poderão fornecer melhores decisões em matéria de análise de risco e de investimentos, comparativamente aos métodos de avaliação financeira tradicionais. Os resultados denotam que os métodos de retorno-risco, para os sponsors, fornecem melhores decisões ao incluirem a component de risco nos projectos.

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47

Muvirimi, Nyasha. "Application of value for money assessment in public-private partnerships in the road transport sector : a case of the N4 (East) toll road." Thesis, Stellenbosch : Stellenbosch University, 2012. http://hdl.handle.net/10019.1/95586.

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Thesis (MDF)--Stellenbosch University, 2012.
ENGLISH ABSTRACT: The purpose of this research was to understand how value for money (‘VfM’), an important decision pillar in public procurement, is applied in South Africa, and compare the VfM regulated framework with other global practices in the United Kingdom, Canada, Australia, Singapore and Hong Kong. VfM is applied when deciding the most appropriate procurement method that utilises public funds in the most cost effective, equitable and transparent manner. Although VfM is vital in the public sector, it is one of the most misunderstood and controversial procurement aspects. The various actors in public procurement processes tend to complicate this key aspect due to their conflicting objectives in relation to a given project. Chief among these are the political influences on the public managers, which tend to manipulate the procurement choice. Consequently over the years, the VfM assessments performed before selecting a procurement method have not been publicly available, thereby increasing concern on whether VfM is achieved, particularly when involving the private sector through public-private partnership (‘PPP’) arrangements. The study explores the various components of VfM, which are the public sector comparator, risk allocation mechanisms, particularly for the road sector projects, discount rates and post project implementation monitoring systems. More importantly, the research analysed how these various aspects were assessed on procuring the N4 toll road. South African National Road Agency SOC Limited (‘SANRAL’), although it did not have the benefit of a PPP guideline as is the case now, it performed extensive feasibility studies and held a transparent procurement process before selecting the private sector party to the PPP. Interestingly, project that was pre-identified as a PPP procurement model and had political support from both the Mozambique and South African governments from inception in order to make it work. The comparative analysis of the South African PPP framework and the selected global PPP markets revealed that the local VfM guidelines were comparable in most aspects such as the PSC construction and risk management methodologies. However, the South African practices could be further improved with increased transparency incorporated in the procurement process such as the publication of the PPP contract once finalised – a practice common in the developed markets analysed. This will go a long way to increasing acceptance of the PPP procurement model in a market that is tainted with mistrust of same. There is need for the civil servants to be trained on the VfM assessment processes so that such analyses are not limited to PPP-type projects, but to conventionally-procured infrastructure projects for increased accountability and effective use of public funds.

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48

Ngcuka, Akona. "Public private partnership as a means to address the financing of affordable housing in South Africa." Thesis, Stellenbosch : University of Stellenbosch, 2010. http://hdl.handle.net/10019.1/8259.

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Thesis (MDF)--University of Stellenbosch, 2010.
This study is an evaluation of the feasibility of utilising project finance in a Public Private Partnership model (as one of a number of possible private public partnership models) in order to deliver social housing in the South African market by evaluating the social housing regulatory environment against the commercial requirements for implementing project finance based PPP‘s, and indentifying gaps that are acting as stumbling blocks to the mobilisation of private sector resources in this sector. The study also looked at the social housing policy and the various private public partnership procurement models currently in use in the United Kingdom, with a view to highlight best practise and lessons which could be applied within the local environment. The broader South African procurement policy environment caters for the private sector delivery of infrastructure, with a number of deals having been delivered since the late 1990‘s. The Social Housing Policy does make provision for the Minister to make pronouncement on procurement models to be used, and does foresee some form of partnership between the public and private sector in delivering affordable housing (this is also supported by policies such the Inclusionary Housing Policy). The current policy environment however does not go far enough in addressing commercial requirements, such as guarantees for rental payments, and performance monitoring instruments, such as housing inspectorates, to facilitate the implementation of housing PPP‘s. 138 pages.

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49

Šuráňová, Petra. "Die Rolle der PPP Projekte bei Investitionsvorhaben der deutschen Kommunen." Master's thesis, Vysoká škola ekonomická v Praze, 2008. http://www.nusl.cz/ntk/nusl-9286.

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This diploma thesis is a comprehensive and up-to-date review of public private partnership (PPP) infrastructure projects at the municipal level in Germany. Public private partnerships use the know-how and the skills of the private sector for the construction and operation of infrastructure and for the long-term provision of public services. The overall goal of this thesis is to discuss the municipal government's approach to PPP infrastructure projects. The theoretical part of this thesis includes informations and fundamental characteristics of public private partnership project types and the most widely used financial instruments in Germany, as well as the obstacles, challenges and prospects of success for the PPP Programme. The thesis further deals with the legislation and the institutional framework of this cooperation, including the establishment of the Partnerschaften Deutschland und other PPP units in central and local government to promote and manage projects. In particular we focus on the possibility of the involvement of private partners in public private partnerships to clear the backlog of investment and to satisfy local authority investment needs. The empirical part of this work describes the efficient, beneficial and cost-effective delivery of what is currently one of Germany's biggest PPP projects in the field of public- sector building construction: refurbishing, financing and operating the 90 schools in the district of Offenbach in the south of Hesse.

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Isserman, Noah Jacobsen. "Venturing into public good : from venture capital to the creation of state-supported venture philanthropy and its implications for third sector financing." Thesis, University of Cambridge, 2018. https://www.repository.cam.ac.uk/handle/1810/286340.

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Over the last three decades, scholars in management, policy, and geography have examined the growing economic, social, and spatial impact of the financial sector. Venture capital firms have been a focus, generating a contested but deep literature around the roles of such "value-adding" capital providers in supporting the growth of firms, industries, and various territorial innovation models. In parallel, there has been substantial government support-financial, regulatory, and otherwise-of these private sector financial intermediaries, despite scepticism. The past twenty years have seen the emergence and rapid growth of analogous funders in the third sector, itself the realm of substantial experimentation and growth. These new intermediaries, "venture philanthropists", have become important players in shaping, structuring, and channelling funding to the third sector. The activities and effects of venture philanthropists are underexplored, as are their growing interactions with governments-despite intentional and striking similarities between the evolution of venture capital and that of venture philanthropy. This dissertation addresses these gaps by systematically examining the emergence, evolution, and operational practices of two influential British venture philanthropy funds: the first such fund in Europe (Impetus Trust) and the first fund in the world co-created with the state (Inspiring Scotland). The two venture philanthropy organisations (VPOs)-one with roots in venture capital, the other with roots in the voluntary and government sectors-both conducted the venture capital-inspired operational model of venture philanthropy in similar ways. That said, the VPOs reflected the logics and practices of their founders and funders. Impetus Trust more closely resembled early-stage venture capital, with a reliance on London-based networks, funders, and service providers-and a heavily London-focused portfolio. Inspiring Scotland evidenced the logics of government rather than charity in several instances, with substantial original research into social issues, heavily structured portfolios on set timelines, and regionally-distributed staff. This approach broadened access, allowing support of SPOs and their clients across various (and underserved) geographies, but limited options for opportunity-driven or expressive functions of philanthropy. I surveyed the CEOs of most organisations supported by the two venture philanthropy funds (82 of 98 charities and social businesses), supplemented by interviews of selected CEOs and the founders and staff of the two funds. I find that, overall, the two VPOs each engaged in seven core activities of venture capital, intentionally adapting them to the third sector: sourcing and selection, due diligence, an engaged relationship, provision of funding, provision of non-financial support, creation of network linkages, and intentional exiting of relationships. As in venture capital, this process had broader effects: providing signals of investee quality, preparing investees for subsequent funding, and expanding networks. The combination of long-term relationships and high formal reporting requirements imposed significant costs for SPOs-and also created a virtuous cycle of trust and collaboration between VPOs and SPOs. The venture philanthropy model also had broader societal effects, creating data regarding individual organisations and the efficacy of responses to social issues, which in both cases informed policy. As intermediaries, venture philanthropists decreased power differentials and improved the flow of (oft-anonymized) information amongst funders, statutory bodies, and funded organisations, facilitating several types of collaboration. SPO managers indicated that they received, on average, approximately ten different types of non-financial support-like strategy consulting, human resources support, or legal counsel. These managers reported in interviews and surveys that the non-financial services provided by venture philanthropists were highly valued, on average. Further, managers believed these services provided more value than it cost the VPOs to provide them. Likewise, managers highly valued most forms of new networking connections (though not all services or linkages were found to be valuable). Smaller SPOs valued services and network links more highly than larger SPOs, although all sizes of SPOs indicated both were valuable, on average. Importantly, this data was provided by SPO managers and focused on the SPO-VPO dyad-rather than provided by VPOs and focused at the portfolio or trust level. This filled an important gap in the literature: academics and practitioners often lament that the voices of charities supported by foundations are not often enough heard, which limits our understanding of many aspects of organizational philanthropy and its effects-in particular the burdens and benefits for recipient organisations. I documented the co-creation of the first government-supported venture philanthropy fund through eleven interviews with founding managers and government officials. This model, in which state, private, and civil society actors collectively founded and funded a value-adding capital provider, militates against neoliberal assumptions of an ever-diminishing state, as does the leveraging of private resources in alignment with state aims-though it raises concerns around democratic processes, accountability, and local control. This work helps inform the changing nature of the voluntary sector and its relationship with the state. I focus on the increasing interaction of actors between and across systems-sometimes in new roles and coordinated by new intermediaries-in the allocation of resources and delivery of services in the public interest. These new interactions inform broad bodies of work that seek to understand changing sectoral roles, most notably discourses surrounding neoliberalism(s), financialisation, and public management. Overall, I find privately- and publicly-funded venture philanthropy playing a role in the third sector analogous to the role of venture capital in the private sector, with similar practices and concomitant effects in data generation, network formation and strengthening, facilitating partnerships, and signalling the quality of supported organisations. By examining two such emerging models of capital provision, I contribute grounded understanding of the way such systems are created and function across the private, public, and third sectors.

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Dissertations / Theses on the topic 'Public sector finance'

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