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Nominal Contracts as Behaviour Towards Risk

Minford, Patrick; Nowell, Eric - C.E.P.R. Discussion Papers - 1997

We look for a theoretical justification of nominal wage contracts in household diversification of risk. We assume it is more costly for households than for firms to use financial markets for this purpose. In a calibrated general equilibrium model we find from stochastic simulation that where...

Persistent link: https://www.econbiz.de/10005789213

South-North Refugee Migration: Lessons for Development Cooperation

Rotte, Ralph; Vogler, Michael; Zimmermann, Klaus F - C.E.P.R. Discussion Papers - 1997

As exemplified in the 1995 Mediterranean Declaration of the European Union, migration has become a major concern for European development policies. By enhancing socio-economic conditions through development cooperation, a reduction of South-North migration flows is envisaged. This new approach...

Persistent link: https://www.econbiz.de/10005791466

Do Rural Banks Matter? Evidence from the Indian Social Banking Experiment

Burgess, Robin; Pande, Rohini - C.E.P.R. Discussion Papers - 2004

Lack of access to finance is often cited as a key reason for why poor people remain poor. This Paper uses data on the Indian rural branch expansion programme to provide empirical evidence on this issue. Between 1977 and 1990, the Indian central bank mandated that a commercial bank could open a...

Persistent link: https://www.econbiz.de/10005792249

Common Ground Between Free-traders and Environmentalists

Karp, Larry; Sacheti, Sandeep - C.E.P.R. Discussion Papers - 1997

We use a North-South model with property right differences and resource dynamics to study the effects of trade on resource use and welfare. Autarky is likely to Pareto-dominate free trade in the long run when the environment is quite fragile, and the result is reversed when the environment is...

Persistent link: https://www.econbiz.de/10005123684

White Elephants

Robinson, James A; Torvik, Ragnar - C.E.P.R. Discussion Papers - 2002

Underdevelopment is thought to be about lack of investment, and many political economy theories can account for this. Yet, there has been much investment in developing countries. The problem has been that investment growth has not led to output growth. We therefore need to explain not simply...

Persistent link: https://www.econbiz.de/10005123875

Industrial Policy for the Twenty-First Century

Rodrik, Dani - C.E.P.R. Discussion Papers - 2004

Unlike what is commonly believed, the last two decades have not witnessed the twilight of industrial policy. Instead, incentives and subsidies have been refocused on exports and direct foreign investment, in the belief that these activities are the source of significant positive spillovers. The...

Persistent link: https://www.econbiz.de/10005124119

India's De-Industrialization Under British Rule: New Ideas, New Evidence

Clingingsmith, David; Williamson, Jeffrey G - C.E.P.R. Discussion Papers - 2005

India was a major player in the world export market for textiles in the early 18th century, but by the middle of the 19 … some decline, and India underwent secular de-industrialization as a consequence. While India produced about 25% of world … supply-side influences (such as the demise of the Mughal empire) and how much to world price shocks (such as world market …

Persistent link: https://www.econbiz.de/10005136603

Democratization and Civil Liberties: The Role of Violence During the Transition

Cervellati, Matteo; Fortunato, Piergiuseppe; Sunde, Uwe - C.E.P.R. Discussion Papers - 2011

This paper investigates the role of violent civil conflicts during the process of democratization for the quality of emerging democracies, and in particular, the protection of civil (political and economic) liberties. A simple theory in which different groups may engage in violent conflict in...

Persistent link: https://www.econbiz.de/10008925715

A Political Economy Theory of the Soft Budget Constraint

Robinson, James A; Torvik, Ragnar - C.E.P.R. Discussion Papers - 2005

Why do soft budget constraints exist and persist? In this paper we argue that the prevalence of soft budget constraints can be best explained by the political desirability of softness. We develop a political economy model where politicians cannot commit to policies that are not ex post optimal....

Persistent link: https://www.econbiz.de/10005114300

Can Labour Regulation Hinder Economic Performance? Evidence from India

Besley, Timothy J.; Burgess, Robin - C.E.P.R. Discussion Papers - 2002

This Paper investigates whether the industrial relations climate in Indian states has affected the pattern of manufacturing growth in the period 1958-92. We show that pro-worker amendments to the Industrial Disputes Act are associated with lowered investment, employment, productivity and output...

Persistent link: https://www.econbiz.de/10005114329