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Growth, Volatility and Political Instability: Non-Linear Time-Series Evidence for Argentina, 1896-2000
Campos, Nauro F; Karanasos, Menelaos - C.E.P.R. Discussion Papers - 2007
What is the relationship between economic growth and its volatility? Does political instability affect growth directly or indirectly, through volatility? This paper tries to answer such questions using a power-ARCH framework with annual time series data for Argentina from 1896 to 2000. We show...
Persistent link: https://www.econbiz.de/10005667076
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Investment and Instability
Campos, Nauro F; Nugent, Jeffrey B - C.E.P.R. Discussion Papers - 2000
Although recent research has repeatedly found a negative association between investment and political instability, the … such a causal and negative long-run relationship between political instability and investment. It finds that there is a … robust causal relationship from instability to investment, and that it is positive. In other words, an increase in political …
Persistent link: https://www.econbiz.de/10005791838
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Inequality and Growth
Bénabou, Roland - C.E.P.R. Discussion Papers - 1996
savings incentives and ameliorate the wealth constraints that impede investment by the poor. The second model is a growth …
Persistent link: https://www.econbiz.de/10005123982
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International Terrorism, Political Instability and the Escalation Effect
Campos, Nauro F; Gassebner, Martin - C.E.P.R. Discussion Papers - 2009
What are the main causes of international terrorism? The lessons from the surge of academic research that followed 9/11 remain elusive. The careful investigation of the relative roles of economic and political conditions did little to change the fact that existing econometric estimates diverge...
Persistent link: https://www.econbiz.de/10005029291
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Who is Afraid of Political Instability?
Campos, Nauro F - C.E.P.R. Discussion Papers - 2000
An unstable macroeconomic environment is often regarded as detrimental to economic growth. Among the sources contributing to such instability, the literature has assigned most of the blame to political issues. This paper empirically tests for a causal and negative long-term relationship between...
Persistent link: https://www.econbiz.de/10005504467
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Two to Tangle: Financial Development, Political Instability and Economic Growth in Argentina (1896-2000)
Campos, Nauro F; Karanasos, Menelaos; Tan, Bin - C.E.P.R. Discussion Papers - 2008
This paper investigates the effects of financial development and political instability on economic growth in a power-ARCH framework with data for Argentina from 1896 to 2000. Our findings suggest that (i) informal or unanticipated political instability (e.g., guerrilla warfare) has a direct...
Persistent link: https://www.econbiz.de/10005114221
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Macroinsurance for Microenterprises: A Randomized Experiment in Post-Revolution Egypt
McKenzie, David - C.E.P.R. Discussion Papers - 2014
that, contrary to what they profess, macroeconomic and political risk is not inhibiting the investment behavior of …
Persistent link: https://www.econbiz.de/10011084029
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A Theory of Political Transitions
Acemoglu, Daron; Robinson, James A - C.E.P.R. Discussion Papers - 1999
We develop a theory of political transitions inspired in part by the experiences of Western Europe and Latin America. Nondemocratic societies are controlled by a rich elite. The initially disenfranchised poor can contest power by threatening social unrest or revolution, and this may force the...
Persistent link: https://www.econbiz.de/10005661707
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Investment and capital structure of partially private regulated firms
Cambini, Carlo; Spiegel, Yossi - C.E.P.R. Discussion Papers - 2011
We develop a model that examines the capital structure and investment decisions of regulated firms in a setting that …
Persistent link: https://www.econbiz.de/10009209829
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A Gains from Trade Perspective on Macroeconomic Fluctuations
Beaudry, Paul; Portier, Franck - C.E.P.R. Discussion Papers - 2011
Business cycles reflect changes over time in the amount of trade between individuals. In this paper we show that incorporating explicitly intra-temporal gains from trade between individuals into a macroeconomic model can provide new insight into the potential mechanisms driving economic...
Persistent link: https://www.econbiz.de/10009221567