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A small macro econometric model for Kazakhstan: a retrospective of alternative economic policies undertaken during the transition process

Author

Listed:
  • Gilles Dufrénot

    (DEFI, Château Lafarge, Route des Milles, F-13290, Aix-en-Provence, Les Milles, France)

  • Adelya Ospanova

    (DEFI, Château Lafarge, Route des Milles, F-13290, Aix-en-Provence, Les Milles, France)

  • Alain Sand-Zantman

    (Université de Lyon, Lyon, F-69007, France ; CNRS, GATE Lyon St Etienne,F-69130 Ecully, France)

Abstract

The public housing sector provides housing units at below-market rents, potentially allowing its tenants to save for a downpayment more quickly than they would have otherwise. In this paper, we analyze the e-ffect of a spell in public housing on age at first-time homeownership using the French Housing Survey. We use a pseudo-panel approach that takes into account the speci-cities of the local housing market, to derive individual tenure transitions from multiple cross-sections data. Using an IV strategy to control for a potential selection into public housing, we jointly estimate public housing tenancy and duration before -first-time homeownership, and take into account unobserved heterogeneity. Our results indicate that a spell in public housing increases the hazard to homeownership, supporting the idea that, in France, the public housing policy provides an important pathway to homeownership.

Suggested Citation

  • Gilles Dufrénot & Adelya Ospanova & Alain Sand-Zantman, 2013. "A small macro econometric model for Kazakhstan: a retrospective of alternative economic policies undertaken during the transition process," Working Papers 1344, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
    • Handle: RePEc:gat:wpaper:1344
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    References listed on IDEAS

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    1. Stanley Fischer & Ratna Sahay, 2000. "The Transition Economies After Ten Years," NBER Working Papers 7664, National Bureau of Economic Research, Inc.
    2. Ms. Ratna Sahay & Mr. Jeromin Zettelmeyer & Mr. Eduardo Borensztein & Mr. Andrew Berg, 1999. "The Evolution of Output in Transition Economies: Explaining the Differences," IMF Working Papers 1999/073, International Monetary Fund.
    3. M. Hashem Pesaran & Yongcheol Shin & Richard J. Smith, 2001. "Bounds testing approaches to the analysis of level relationships," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(3), pages 289-326.
    4. Mr. Eivind Tandberg & S. Ramamurthy, 2002. "Treasury Reform in Kazakhstan: Lessons for Other Countries," IMF Working Papers 2002/129, International Monetary Fund.
    5. Wyplosz, Charles, 2000. "Ten Years of Transformation: Macroeconomic Lessons," CEPR Discussion Papers 2254, C.E.P.R. Discussion Papers.
    6. Mr. Stanley Fischer & Ms. Ratna Sahay, 2000. "The Transition Economies After Ten Years," IMF Working Papers 2000/030, International Monetary Fund.
    7. International Monetary Fund, 2003. "Republic of Kazakhstan: Selected Issues and Statistical Appendix," IMF Staff Country Reports 2003/211, International Monetary Fund.
    8. International Monetary Fund, 2000. "Institutions Matter in Transition, But so do Policies," IMF Working Papers 2000/070, International Monetary Fund.
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    Cited by:

    1. Ibrahim Alnafrah & Sulaiman Mouselli, 2020. "Constructing the Reconstruction Process: a Smooth Transition Towards Knowledge Society and Economy in Post-Conflict Syria," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 11(3), pages 931-948, September.
    2. Thorsten Janus, 2020. "Terms of trade volatility, exports, and GDP," Economic Change and Restructuring, Springer, vol. 53(1), pages 25-38, February.

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    More about this item

    Keywords

    Transition economies; Kazakhstan; Macroeconomic stabilization; Central Asian CIS countries;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • P20 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - General
    • P51 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems

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