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"Matousek, Roman"
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The asymmetric impact of human capital on economic growth
This paper re-examines the effect of human capital on countries’ economic growth paths. It investigates the significance and the asymmetric impact of human capital stock on economic growth. We apply both a nonparametric and a semiparametric analysis on a sample of 100 countries over the period from 1970 to 2014. We test for nonlinear effects on economic growth for two human capital stock indexes assuming both perfect and imperfect substitutability among skilled and unskilled workers. The empirical findings for both indexes suggest that the effect of human capital on countries’ economic growth levels is positive and statistically significant. We provide robust empirical evidence of a nonlinear relationship among human capital and economic growth levels. However, the revealed asymmetric patterns of human capital are more emphatic under the assumption of perfect substitutability among skilled and unskilled workers.
Journal Article
How Do Government Subsidies Affect Innovation? Evidence from Chinese Hi-Tech SMEs
This paper examines the effectiveness of government subsidies in fostering innovation among small and medium-sized enterprises (SMEs), with a particular focus on additionality, crowding-out, and cherry-picking effects. Using the latest national survey data on Chinese high-tech SMEs, we apply robust econometric techniques—including the Heckman selection model, structural equation modeling (SEM), and propensity score matching (PSM)—to address potential selection bias and endogeneity. Our findings reveal that government subsidies positively influence both innovation inputs and outputs, suggesting a predominant additionality effect rather than a crowding-out effect, at least within high-tech SMEs. However, subsidies do not appear to alleviate the financial constraints faced by most SMEs, indicating that they are insufficient as a standalone solution to financing challenges. Furthermore, state ownership enhances input additionality but does not significantly impact output additionality. We also find evidence of cherry-picking in subsidy allocation, with loans exhibiting stronger additionality effects on innovation compared to grants and tax credits, which are more prone to selective intervention. These findings highlight the need for more targeted subsidy policies that prioritize financially constrained firms with high innovation potential while mitigating government selectivity. Our study offers valuable insights for policymakers seeking to design more effective innovation support mechanisms for high-tech SMEs.
Journal Article
Pre-evaluating technical efficiency gains from possible mergers and acquisitions: evidence from Japanese regional banks
This study focuses on bank mergers and acquisitions (M&As) and applies a DEA based procedure that allows us to pre-evaluate technical efficiency gains from possible M&As in the Japanese regional banking sector. This approach provides a strategic tool for policy-makers to pre-evaluate possible M&As decisions based on performance criteria that are measured in terms of technical efficiency gains. The results clearly show that possible M&As formed by the smaller banks performed better compared with the possible M&As formed by the larger banks. Moreover, our findings imply that small regional banks will have possible efficiency gains when they merge with neighboring banks, whereas larger banks appear to have efficiency gains from merging with distant banks.
Journal Article
Did the financial crisis affect environmental efficiency? evidence from the Japanese manufacturing sector
This study examined the impact of the financial crisis on the environmental and technical efficiencies of the Japanese manufacturing industry. Overall, we found that while the crisis had a negative impact on technical efficiency, it did not affect environmental efficiency—the only exception was the transportation equipment sector which improved its environmental efficiency following the crisis. Additionally, we found that capital intensity does not necessarily affect environmental efficiency. We discuss the implications of these findings and provide directions for future research.
Journal Article
Prostor(y) geografie
Během posledních dvou desetiletí prošla světová geografie významnými proměnami, které jsou často souhrnně označovány jako kulturní obrat. Postupná integrace geografie mezi sociální vědy a vzájemná potřeba prozkoumávat oborově čím dál „vzdálenější“ teritoria zvýšila intenzitu mezioborové komunikace a současně umožnila postupné sbližování odlišných jazyků, metod a epistemologií. Geografie zaznamenala neuvěřitelné množství nových podnětů pocházejících z mimogeografického prostředí, ale současně se geografické myšlení stávalo daleko atraktivnějším i pro ostatní disciplíny.
Ambicí předkládané monografie je představit vybrané – v českém prostředí zatím nepříliš známé – teoretické perspektivy etablované především v posledních dvou desetiletích ve světové (především angloamerické) geografii. Odlišný jazyk, metody i epistemologie, které s sebou přináší kulturní obrat, jsou reflektovány už v samotném názvu knihy Prostor(y) geografie. I když předkládaná publikace zachycuje pouze určitou dílčí část prostorů současné geografie, věříme, že pomůže vytvořit prostor(y) pro teoretické diskuse reflektující kulturní obrat, čímž současně přispěje i k další diverzifikaci prostorů geografie.
eBook
New Municipal Housing Construction, Decision-making, and Risks of Segregation: A Case Study in Rudoltice
Czech municipalities were given important responsibilities for housing policies during the post-communist transformation processes after 1989, which resulted in a diversification of strategies. Rudoltice near Lanskroun in Pardubice is a specific case of a municipality that chose to prioritise extensive municipal housing construction. The municipality used government subsidies to construct a new neighbourhood called Zámecek, which, with its nearly 1000 inhabitants, caused the local population to double between 2006 and 2009. In this article, the author explores the roots of this large-scale project of municipal housing construction by specifically combining its national, regional, and local contexts. The local municipality's decisions and its ambitions and expectations for growth and prosperity were embedded in the micro-regional context of the successful economic transformation and development it had experienced since the 1990s and were made possible by changes in national housing policies and the devolution of policy decisions to the municipalities. Using the concept of (new) socio-spatial formation this article analyses the neighbourhood of Zámecek as a case of residential segregation. It argues that, even though its population is still relatively heterogeneous compared to other segregated localities in the Czechia, the neighbourhood is being shaped by an ongoing process of segregation. The specific supply of affordable housing in Zámecek meets a demand for housing from low income households in other regions where municipalities do not provide affordable housing. Reprinted by permission of the Institute of Sociology of the Academy of Sciences of the Czech Republic
Journal Article
Choosing the Optimal Tool for Fiscal Adjustment or Living under Fiscal Constraints: Panel Evidence from Selected OECD Countries
This article examines the long-run two-way causal relationship between government revenues and spending and their interaction with the yearly change in public debt for eighteen OECD countries by using annual data for 1976-2017 period. The empirical literature has mainly focused on the long run relationship between government expenditure and revenues or other single country time series while only a few studies have used panel causality analysis and none have investigated the link with the evolution of public debt ratios. The purpose of this paper is to present a dynamic model identifying the underlying relationships constituting the fiscal policy set-up in sample countries. We apply a robust dynamic panel causality methodology based on SUR systems and Wald tests with country specific bootstrap critical values. The study also aims to provide the basis for recommendations on the policy response to public finance challenges stemming from exogenous shocks like the global pandemic that began in 2020. By developing an enhanced analysis of the long-term causal relationship between taxation, spending and their interaction with changes in public debt, the study not only provides fresh insights into the sustainability and optimal design of fiscal adjustment efforts but also offers a country-specific schematization as a guide for policymaking.
Journal Article
Productivity growth in network models: An application to banking during the financial crisis
We construct Malmquist Productivity indices for two-stage processes. A two-stage data envelopment analysis model with an additive efficiency decomposition is used for the modelling of the two-stage process. We incorporate prior information into the analysis using the Weight Assurance Region model. This model offers advantages such as the weights representing the contribution of each stage to the overall process are always positive and we also can restrict them into a region given the available prior information. We extend this model from efficiency analysis to productivity analysis and we calculate Malmquist Productivity indices using four alternative decomposition approaches. The model is applied to a panel of banks in Central and Eastern European countries and productivity change is evaluated for three periods of the financial crisis. The alternative decompositions allow us to examine the various sources of productivity change during the financial crisis. Convergence patterns are also examined.
Journal Article
