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On the International Transmission of Shocks : Micro-Evidence from Mutual Fund Portfolios
Raddatz, Claudio; Schmukler, Sergio L. - 2012
Using micro-level data on mutual funds from different financial centers investing in equity and bonds, this paper analyzes how investors and managers behave and transmit shocks across countries. The paper shows that the volatility of mutual fund investments is quantitatively driven by investors...
Persistent link: https://www.econbiz.de/10012554504
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Financial Development, Financial Fragility, and Growth
Loayza, Norman; Ranci??re, Romain - 2013
The authors study the apparent contradiction between two strands of the literature on the effects of financial intermediation on economic activity. On the one hand, the empirical growth literature finds a positive effect of financial depth as measured by, for instance, private domestic credit...
Persistent link: https://www.econbiz.de/10012559865
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Managing the Coordination of Service Delivery in Metropolitan Cities : The Role of Metropolitan Governance
Slack, Enid - 2012
This paper examines different models of governing structure found in metropolitan areas around the world. It evaluates …
Persistent link: https://www.econbiz.de/10012552764
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Governance and the City : An Empirical Exploration into Global Determinants of Urban Performance
Kaufmann, Daniel; L??autier, Frannie; Mastruzzi, Massimo - 2012
The authors contribute to the field of urban governance and globalization through an empirically-based exploration of determinants of the performance of cities. They construct a preliminary worldwide database for cities, containing variables and indicators of globalization (at the country and...
Persistent link: https://www.econbiz.de/10012554169
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The Worldwide Governance Indicators and Tautology : Causally Related Separable Concepts, Indicators of a Common Cause, or Both?
Langbein, Laura; Knack, Stephen - 2012
control of corruption, rule of law, government effectiveness, regulatory quality, political stability, and voice and …'s even more widely-known aggregate index similarly reflects perceptions not only of corruption, as intended, but of the …
Persistent link: https://www.econbiz.de/10012552460
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The Worldwide Governance Indicators Project : Answering the Critics
Kaufmann, Daniel; Kraay, Aart; Mastruzzi, Massimo - 2012
The Worldwide Governance Indicators, reporting estimates of six dimensions of governance for over 200 countries between 1996 and 2005, have become widely used among policymakers and academics. They have also attracted some explicit written criticisms. In this short paper the authors synthesize...
Persistent link: https://www.econbiz.de/10012552599
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???Heard Melodies Are Sweet, but Those Unheard Are Sweeter??? : Understanding Corruption Using Cross-National Firm-Level Surveys
Jensen, Nathan M.; Li, Quan; Rahman, Aminur - 2012
false response as self-protection mechanisms. Corruption is understated as a result. We test our arguments using the World … corruption. Many of these studies have employed firm-level survey data from various countries. While insightful, these analyses … firms. Treating firms' responses on a sensitive issue like corruption at their face value could produce incorrect inferences …
Persistent link: https://www.econbiz.de/10012552860
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Governance Matters IV : Governance Indicators for 1996-2004
Kaufmann, Daniel; Kraay, Aart; Mastruzzi, Massimo - 2012
) rule of law, and (6) control of corruption. They cover 209 countries and territories for 1996, 1998, 2000, 2002, and 2004 …
Persistent link: https://www.econbiz.de/10012554089
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Ownership, Competition, and Corruption : Bribe Takers versus Bribe Payers
Clarke, George R. G.; Xu, Lixin Colin - 2013
corruption. This study complements these cross-country studies by focusing on microeconomic factors that affect bribes paid in a … equilibrium level of corruption in the sector. On the side of bribe payers, enterprises that are more profitable, enterprises that … macroeconomic and political factors that previous studies have found to affect the overall level of corruption. …
Persistent link: https://www.econbiz.de/10012559540
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A Decade after the 2009 Global Recession : Macroeconomic and Financial Sector Policies
Koh, Wee Chian; Yu, Shu - 2020
Unprecedented monetary policy accommodation in advanced economies and a large, coordinated fiscal stimulus by G20 countries helped to support a solid rebound in global output right after the 2009 Global Recession. However, global growth subsequently slowed to a sluggish pace by pre-recession...
Persistent link: https://www.econbiz.de/10012568123