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What Do We Know about Microfinance at Macro Glance?

Alimukhamedova, Nargiza; Hanousek, Jan - C.E.P.R. Discussion Papers - 2015

contrast we aim to identify the impact on whole economies (economic growth, and financial sector development and reductions in …

Persistent link: https://www.econbiz.de/10011201355

Why Are Indian Children So Short?

Jayachandran, Seema; Pande, Rohini - C.E.P.R. Discussion Papers - 2015

India's child stunting rate is among the highest in the world, exceeding that of many poorer African countries. In this paper, we analyze data for over 174,000 Indian and Sub-Saharan African children to show that Indian firstborns are taller than African firstborns; the Indian height...

Persistent link: https://www.econbiz.de/10011207396

Institutions Rule: The Primacy of Institutions Over Geography and Integration in Economic Development

Rodrik, Dani; Subramanian, Arvind; Trebbi, Francesco - C.E.P.R. Discussion Papers - 2002

We estimate the respective contributions of institutions, geography, and trade in determining income levels around the world, using recently developed instruments for institutions and trade. Our results indicate that the quality of institutions 'trumps' everything else. Once institutions are...

Persistent link: https://www.econbiz.de/10005667122

Subjective Well-Being, Income, Economic Development and Growth

Sacks, Daniel W.; Stevenson, Betsey; Wolfers, Justin - C.E.P.R. Discussion Papers - 2010

We explore the relationships between subjective well-being and income, as seen across individuals within a given country, between countries in a given year, and as a country grows through time. We show that richer individuals in a given country are more satisfied with their lives than are poorer...

Persistent link: https://www.econbiz.de/10008684672

What's So Special About China's Exports?

Rodrik, Dani - C.E.P.R. Discussion Papers - 2006

Much more than comparative advantage and free markets have been at play in shaping China's export success. Government policies have helped nurture domestic capabilities in consumer electronics and other advanced areas that would most likely not have developed in their absence. As a result, China...

Persistent link: https://www.econbiz.de/10005114180

Bargaining and Sustainability: The Argentine Debt Swap of 2005

Dhillon, Amrita; García-Fronti, Javier; Ghosal, Sayantan; … - C.E.P.R. Discussion Papers - 2005

When Argentine sovereign default in December 2001 led to a collapse of the peso, the burden of dollar debt became demonstrably unsustainable. But it was not clear what restructuring was feasible, nor when. Eventually, in 2005 after a delay of more than three years, a supermajority of creditors...

Persistent link: https://www.econbiz.de/10005504331

The Sustainable Debts of Philip II: A Reconstruction of Spain's Fiscal Position, 1560-1598

Drelichman, Mauricio; Voth, Hans-Joachim - C.E.P.R. Discussion Papers - 2007

The defaults of Philip II have attained mythical status as the origin of sovereign debt crises. The king failed to honour his debts four times during his reign. In this paper, we reassess the fiscal position of Habsburg Spain. New archival evidence allows us to derive comprehensive estimates of...

Persistent link: https://www.econbiz.de/10005656157

Trigger Points and Budget Cuts: Explaining the Effects of Fiscal Austerity

Bertola, Giuseppe; Drazen, Allan - C.E.P.R. Discussion Papers - 1991

We present and analyse an optimizing model which explains the counter-intuitive effects of fiscal policy in terms of expectations. If government spending follows an upward-trending stochastic process, which the public believes may fall sharply when it reaches specific `target points', then...

Persistent link: https://www.econbiz.de/10005662143

Designing Democracies for Sustainability

Gersbach, Hans; Kleinschmidt, Tobias - C.E.P.R. Discussion Papers - 2004

sustainability. We show that the dual democratic mechanism – rejection/support rewards (RSRs) for politicians and elections – can … achieve sustainability. RSRs stipulate that incumbents who are not re-elected, but obtain the majority support among young …

Persistent link: https://www.econbiz.de/10005662383

Sustainability of Public Finances

Perotti, Roberto; Strauch, Rolf; von Hagen, Jürgen - C.E.P.R. Discussion Papers - 1997

finances of its member states. Yet there is no clear definition of sustainability. The economist’s common use of the term …. In this study, we develop a concept of sustainability focusing on the controllability of public finances. In so doing, we … adopt the approach of the Maastricht Treaty, to assume sustainability as long as a country does not violate the double …

Persistent link: https://www.econbiz.de/10005667090