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Session Overview
PS-3.10: Sectoral innovation system, industrial policy and development 3
Thursday, 13/Oct/2016:
10:30am - 12:00pm

Session Chair: Olaide Rufai Akande, University of Agriculture, Makurdi, Nigeria
Discussant: Sanni Morufu Muhammed, National Centre for Technology Management
Location: Consulat Room I (Homann)

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Development Finance Institutions (DFIs) in Malaysia: towards conceptual view of national development banks

Olga Mikheeva

Ragnar Nurkse School of Innovation and Governance, Tallinn University of Technology, Estonia

Newly industrialized and emerging countries of East and Southeast Asia were credited with relying on ‘repressed finance’ regimes during the course of rapid economic development where development banks have played an important role, especially during the first decades of state-led industrialization. In this regard, Malaysia represents a somewhat deviant yet a rich case since government intervention in financial sector has been mostly in the form of ownership, rather than policy loans, while development finance institutions, of which there are currently 13, continue being an integral part of government’s development agenda and development budget expenditures respectively.

Following institutionalist approach, the study looks at how Malaysia’s DFIs emerged, how they have been positioned within financial system in terms of their share of lending, how their lending policies and overall policy roles have changed over time. To complement this policy-related evolutionary perspective on DFIs the study also looks at their organizational structures and internal capacities, which is the major empirical contribution to existing literature on development finance institutions and national development banks in particular.

Following the descriptive part of the case study, a contextualized framework is presented, which aims at distinguishing between various links that DFIs have with various public and private actors on one hand and how they are organized internally on the other hand; as well as how these links and internal structures change over time. Such a framework is an attempt to position national DFIs within a broader institutional context, which calls for further ‘fine-tuning’ via additional empirical research on both micro- (single bank case study) and macro-organizational levels (national multi-bank case study). The study concludes that Malaysia’s development banks to a large extent have become ‘fund-managers’: soft-loan schemes continue being channeled through DFIs while they act more like administrators rather than financiers and the process of project appraisal resembles practices of commercial banks, which, in turn, reflects an extensive share of ‘traditional’ commercial banking performed by majority of Malaysia’s DFIs as well as general trends in development banking.

Direct and Indirect Sectorial Research & Development in Brazil

Paulo Cesar Morceiro, Milene Simone Tessarin, Joaquim Jose Martins Guilhoto

University of São Paulo (USP), Brazil

Research and development (R&D) is performed unequally by the sectors of economic activity. Some productive sectors have greater technological opportunities and are more intensive in R&D than others. The objective of this article is to show a sectoral picture of R&D conducted in Brazil. Some indicators such as direct and indirect R&D intensity, R&D per employee and R&D related to the Gross Domestic Product (GDP) were measured for 68 sectors of activities of the new System of National Accounts of Brazil. We present three contributions to Brazilian literature of industrial organization. First, the spending on R&D for all sectors of the economy, including the services sectors that were previously poorly known; second, the intensity in indirect R&D in the sectorial sphere; and third, a comparison of R&D in all sectors of Brazil with some countries that are in the global technological frontier. It was observed that the sectorial R&D in Brazil is carried out mainly by the public services sector and by the sectors of high and medium-high technology of the manufacturing industry. Among the public services, highlight to the R&D linked to education, health and especially agriculture. This work also shows a breakdown of the R&D public institutes. In Brazil several relevant public institutions at federal and state level do R&D for agriculture area. Private R&D, performed massively by industry, also has state incentives through financing and sectoral regulation (oil and gas and electricity). Among the 68 sectors of the Brazilian economy, most continues to far from the technological frontier, but the country has featured in some sectors linked to natural resources. In addition, indirect R&D is more relevant for low and medium-low technology and various services sectors that are less intensive knowledge.

The wage effects of training in Rural China

Wei Bian, Yishu Wang, Chunhui Ye

ZHEJIANG UNIVERSITY, CHINA, China, People's Republic of

The aim of this paper is to investigate the wage returns to job training for off-land farmers in China, taking into account the statistical complications present in existing studies. We use a national wide field survey conducted in 12 cities in China for the time period between 1996 and 2008. The main finding of our study is that the average wage effect of on-the-job training is 4.9 per cent to 7.9 per cent. Compared with the average return to education, this implies that, on average, the wage return to job training is as important as the return to education. Also, we find out that on the job training has more effect on male workers and young labor.

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