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The paper is a comment on "Transparency, Complementarity and Holdout" by Roy Chowdhury and Sengupta(2012). They analyse a model of multilateral bargaining under the assumption of common discount factor. We show a strong drawback of employing such an assumption.

The problem of designing a system for optimal operational control of random deviations in the productivity of technological equipment is considered. The synthesized control ensures the synchronization of the productivity of the technological equipment of the production line and asymptotic stability of the given planned state of the flow parameters of the production line for the steady and transient mode of operation.

This paper brings empirical evidence on the relationship between cultural heritage assets and economic growth. The case of Greece over the period 1998-2016 is taken as an example. Regional growth is approached through the formulation of a neoclassical growth model augmented with cultural heritage factors. Using panel methods of estimation, the empirical results reveal a positive impact of cultural heritage on regional growth, thus supporting a culture-led growth hypothesis for the Greek economy. In addition, a significant influence of other growth drivers such as physical and human capital, fertility and unemployment on regional growth is evidenced. Our results leave ample room for smart, inclusive and sustainable national, regional and EU policies to operate for the promotion of economic growth.

This study investigates: (i) the effect of foreign direct investment (FDI) on total factor productivity (TFP) and economic growth dynamics, and (ii) the relevance of value added from three economic sectors in modulating the established effect of FDI on TFP and economic growth dynamics. The geographical and temporal scopes are respectively 25 Sub-Saharan African countries and the period 1980–2014. The empirical evidence is based on non-interactive and interactive Generalised Method of Moments. The following main findings are established. First, FDI has a positive effect on GDP growth, GDP per capita and welfare real TFP. Second, the effect of FDI is negative on real GDP and TFP, while the impact is insignificant on real TFP growth and welfare TFP. Third, values added to the three economic sectors largely modulate FDI to produce negative net effects on TFP and growth dynamics. Policy implications are discussed with particular emphasis on the need to complement added value across various economic sectors in order to leverage on the benefits of FDI in TFP and economic growth. To the best of knowledge, this is the first study to assess how value added from various economic sectors affect the relevance of FDI on macroeconomic outcomes.

Sales is on of the companies activities that very important for every company such as for services, retail or manufactures. The companies without sales will make it their existencies for sales can make an income for them and can make a company survive. The sales can be divided as two, cash and credit. Credit sales is done to make a company life growing higher. The decision of this research is to know is credit sales influenced to company profitabilities at PT. Duta Putra Sumatera Medan. Descriptive statistic is used in this research and doing for 2009 – 2013. The data from PT Duta Putra Sumatera Medan is processed by Financial Reports such as Income Statement periods 2009 – 2013 and also Balance Sheet. The result of this research has shown that credit sales influenced in company profitabilities with (R2) 97,2% and more influenced in other variables.

Using an exceptionally rich dataset comprising over 1,800 primary schools and nearly 40,000 students from ten francophone Sub-Saharan African countries, this study analyzes the relationship between teacher gender, student gender, and student achievement in mathematics and reading. Findings indicate that being taught by a female teacher increases academic achievements and that both performance and subject appreciation rise when taught by a same-gender teacher. Traditional academic gender stereotypes are prevalent among both male and female teachers. Our findings suggest that hiring more female teachers in Western and Central Africa can reduce educational gender gaps without hurting boys.

Recent changes in the Common Agricultural Policy have focused attention on the possibility of an enlarged crop insurance program in Europe. Several countries in the European Union already have national crop insurance schemes, but the performance of these programs in terms of realized demand has been low. In some cases, participation in the programs remains low in spite of significant subsidies to insurance premiums. This situation can be contrasted with the federal crop insurance program in the United States, which is now the principal instrument of American agricultural policy and insured over 366 million acres in 2015. We focus on two questions: are there any justifications for subsidized crop insurance and how could such a scheme possibly be implemented in the EU? Quantitative and qualitative comparisons of the current state of crop insurance in the EU and US serve to motivate our observations.

ABSTRACT & RÉSUMÉ & ZUSAMMENFASSUNG : Dark clouds over the EU-Africa Summit 2021 in view of Brexit and Corona ---- Every three years, the AU-EU summit reunites African and EU leaders to outline the future direction of cooperation. The 6th summit had been to reaffirm and renew the partnership between the two blocks already in October 2020, but it was pushed back to the first quarter of 2021 or even later due to COVID-19 crisis. Besides, Brussels had to deal with its own post-Brexit situation and its repercussions on EU-Africa relations, excluding the UK. African states, for their part, wanted to renegotiate the EU-Africa partnership and to balance it with new promising Post-Brexit visions of the British premier Johnson about increased economic ties with the African Angloshere. China and other global players compete with the EU and its member states in the new scramble for African resources. Given that Africa is increasingly courted by other partners it could be inclined to successively limit its relations with the EU and see it as a mere provider of aid and security against Islamic terrorism. This trend was reinforced by the fact that the new EU-Africa strategy still hasn't been approved by EU member states. And a timely replacement of the Cotonou Agreement, which expires in November 2021, is open to question. ___________________________________________________________________________ RÉSUMÉ : Tous les trois ans, le sommet UA-UE réunit les dirigeants africains et européens pour définir l'orientation future de la coopération. Le 6e sommet devait réaffirmer et renouveler le partenariat entre les deux blocs déjà en octobre 2020, mais il a été repoussé au premier trimestre 2021, ou même plus tard, en raison de la crise du COVID-19. En outre, Bruxelles a dû faire face à sa propre situation post-Brexit, compte tenu l'exclusion du Royaume-Uni, et à ses répercussions sur les relations UE-Afrique. Les États africains, pour leur part, souhaitaient renégocier le partenariat UE-Afrique, et l'équilibrer avec les nouvelles visions post-Brexit prometteuses du Premier ministre britannique Johnson sur le renforcement des liens économiques avec l'Anglosphère africaine. La Chine et d'autres acteurs mondiaux sont en concurrence avec l'UE et ses États membre dans la nouvelle ruée vers les ressources africaines. Étant donné que l'Afrique est de plus en plus courtisée par d'autres partenaires, elle pourrait être encline à limiter successivement ses relations avec l'UE et à la considérer comme un simple fournisseur d'aide et de sécurité contre le terrorisme islamique. Cette tendance a été renforcée par le fait que la nouvelle stratégie UE-Afrique n'a toujours pas été approuvée par les États membres de l'UE. Et un remplacement opportun de l'accord de Cotonou, qui expire en novembre 2021, est sujet à caution. _____________________________________________________________________ ZUSAMMENFASSUNG : Alle drei Jahre bringt der AU-EU Gipfel afrikanische und EU-Staats- und Regierungschefs zusammen, um die künftige Richtung der Zusammenarbeit zu skizzieren. Der 6. Gipfel hatte sich zum Ziel gesetzt, die Partnerschaft zwischen den beiden Blöcken bereits im Oktober 2020 zu bekräftigen und zu erneuern, er wurde jedoch aufgrund der COVID-19-Krise auf das erste Quartal 2021 verschoben. Davon unabhängig mußte sich Brüssel erst einmal über seine eigene Situation nach dem Brexit und dessen Auswirkungen auf die Beziehungen zwischen der EU und Afrika klar werden. Die afrikanischen Staaten ihrerseits wollen die Partnerschaft zwischen der EU und Afrika neu verhandeln und sie mit den vielversprechenden Visionen des britischen Premierministers Boris Johnson über verstärkte wirtschaftliche Beziehungen zur afrikanischen Anglosphäre in Einklang bringen. Zudem konkurrieren China und andere Global Player mit der EU und ihren Mitgliedstaaten im Kampf um afrikanische Ressourcen. Angesichts der Tatsache, daß Afrika zunehmend von anderen Partnern umworben wird, könnten seine Führer dazu neigen, ihre Beziehungen zur EU sukzessive einzuschränken und die EU auf ihre Funktion als Anbieter von Hilfe und Sicherheit gegen den islamischen Terrorismus zu begrenzen. Dieser Trend wird noch dadurch verstärkt, daß eine gemeinsame EU-Afrika-Strategie von den EU-Mitgliedstaaten noch nicht einmal verabschiedet wurde. Selbst der rechtzeitige Ersatz des Cotonou-Abkommens, das im November 2021 ausläuft, ist fraglich.

This paper explores a major issue in the context of economics of inequality, namely how far the stark inequalities are retarding educational attainment in the United States in the recent period. An application of the time series ARIMA model is made to forecast both high school and college education in the United States for the period 2018- 2022. The study obtains fluctuating trends (forecast) in certain categories of school educational attainment. A Multi Variate Error Correction Model is utilized to assess how far socio economic factors are responsible in the process of educational attainment. The study obtains a bidirectional long run causal association across educational completion, income growth, inflation, and income inequality. Income inequality and the distribution of income in the United States has a positive bearing on the education sector. Further distributive polices and the behaviour of government spending have a significant effect on the quality of learning. Last, attainment of education and its ramification has an important bearing on the level of income in the United States in the long run.

While various policy instruments have attempted to raise environmental concerns in the past decades, it is unclear if these concerns are revealed in the consumer choices of our daily life. In this study, we investigate whether environmental concerns drive the choices of modes of transport through the bike-sharing example in Tokyo and Shanghai. We conducted a survey questionnaire to define three types of environmental concerns and quantitatively estimated their effects on bike-sharing choices using the latent class model, considering individual heterogeneity. The results show that environmental concerns affect bike-sharing choices differently for different people. While the fear of natural disasters and/or an indifference towards the environment would be dominant factors in commuting, the willingness to preserve a natural environment shows substantial correlations to bike-sharing when respondents return from weekend shopping. These differences indicate that relevant policies should be effectively implemented to interact with such environmental concerns.