This paper examines the impact of reducing corruption and improving transparency to lower trade costs in the Asia Pacific Economic Cooperation region. The authors find, based on a computable general equilibrium model, significant potential trade and welfare gains for Asia Pacific Economic Cooperation members, with increased transparency and lower levels of corruption. Results suggest that trade...

We propose a tractable model of asset management in which benchmarking arises endogenously, and analyze its welfare consequences. Fund managers' portfolios are not contractible they incur private costs running them. Incentive contracts for fund managers create pecuniary externality through their effect on prices. Benchmarking inflates prices creates crowded trades. The crowding reduces the effe...

Great expectations are being placed on firms to act with increasing social responsibility, which is adding a new dimension to the role of management and the vision of companies. Meanwhile, society is looking more closely at the impact of business on the public. Thus, the notion of the corporate citizenship is a significant transition in corporate consciousness as organizations look beyond their...

“This work was supported by a National Research Foundation of Korea (NRF) grant funded by the Korean government (MEST, 2009-0078234); the National Nuclear R&D Program through the National Research Foundation of Korea (NRF) funded by the Ministry of Education, Science and Technology (No. 2012M2A2A7014020); a grant from the Korea Health Technology R&D Project, Ministry of Health & Welfare, Republ...

Much attention has been given over the years to animal welfare issues surrounding the seal hunt in Atlantic Canada. However, very little information is available on this subject in the scientific literature. This article reports the results of observations made by representatives of the Canadian Veterinary Medical Association at the hunt in recent years and compares them with observations made ...

Setting a dollar amount for government spending on child care is a major issue in reauthorizing the 1996 welfare reform law. Two key components in pending Congressional proposals involve the Temporary Assistance for Needy Families block grant and the Child Care and Development Fund, which together provide the bulk of government child care funding for low income working families, whether or not ...

FUND is an integrated assessment model of the interactions between climate and economy. Nine world regions emit greenhouse gases, and suffer damages from climate change. A number of greenhouse gas emission reduction policies are compared, including optimal and cost-effective strategies, strategies with early and late abatement, and strategies with and without international co-operation. The ana...

Village funds are given to the village be managed properly so that can provide welfare for community and development. The management of must carried out gradually carefully in its use, besides it adjusted existing legal rules there is no misuse funds. Harjowinangun Barat one villages Batang Regency, where still needs achieve welfare. head other officials need manage following principles good go...