Showing 1 - 10 of 89
Until 1970, the New York Stock Exchange prohibited public incorporation of member firms. After the rules were relaxed to allow joint stock firm membership, investment-banking concerns organized as partnerships or closely-held private corporations went public in waves, with Goldman Sachs (1999)...
Persistent link: https://www.econbiz.de/10005656352
on resource abundance equals 10.9 percentage points more reform, a large effect given that the mean probability of reform …
Persistent link: https://www.econbiz.de/10005666720
What determines the enforcement of deregulation reform of business activities? What are the outcomes of deregulation …? We address these questions using an episode of a drastic reform in Russia between 2001 and 2004 which liberalized … average, the reform reduced the administrative costs of firms; but, the progress of reform had a substantial geographical …
Persistent link: https://www.econbiz.de/10005667109
Does democracy promote economic development? We review recent attempts to addresses this question, which exploit the within-country variation associated with historical transitions in and out of democracy. The answer is positive, but depends - in a subtle way - on the details of democratic...
Persistent link: https://www.econbiz.de/10005789020
reform, because politicians have the incentive to embrace growth-enhancing reforms to win elections. On the other hand …
Persistent link: https://www.econbiz.de/10005124381
China’s reform worked and produced some of the most impressive growth in the largest developing and transition economy … conventional institutions such as rule of law and secure private property rights is puzzling. To understand how reform works in a … initial conditions and to function as stepping stones in the transition toward the goal. Underlying China’s reform is a serial …
Persistent link: https://www.econbiz.de/10005136741
different models of growth associated with different stages of reform. The speed with which individual countries progress …
Persistent link: https://www.econbiz.de/10005136785
The translation of legal independence into actual independence is primarily determined by the rule of law. Inspired by the economic growth literature, where the role of institutions already is incorporated, we introduce Institutional Quality Indicators that can be used as reasonable proxies for...
Persistent link: https://www.econbiz.de/10005497964
. Members have the same consumption benefit of reform but weak and strong members differ in their cost of exerting reform … efforts. As decisions are taken by unanimity, the reform level is determined by the weakest member. However, strong members … members into the Union) can have different effects on deepening (more reform effort). When a new member is stronger than the …
Persistent link: https://www.econbiz.de/10005504398
banks in 26 former socialist economies (FSEs). The indices reveal that central bank reform in the FSE during the 1990s has …
Persistent link: https://www.econbiz.de/10005656198