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. These countries place few restrictions on capital mobility and allow their exchange rates to float. The domestic focus of … volatility and less frequent “sudden stops” of capital flows than similar countries that do not target inflation. Inflation …
Persistent link: https://www.econbiz.de/10005497858
Recent Eurobarometer survey data are used to document and explain the stock of social capital in 27 European countries …. Social capital in Central and Eastern Europe – measured by civic participation and access to social networks – lags behind … that in Western European countries. Using regression analysis of determinants of individual stock of social capital, we …
Persistent link: https://www.econbiz.de/10005792441
This paper surveys the empirical literature on the growth effects of education and social capital. The main focus is on … benefits of social capital. Since this literature is still in its early days, policy conclusions are accordingly harder to find. …
Persistent link: https://www.econbiz.de/10005136728
also shows that wages in finance were excessively high around 1930 and from the mid 1990s until 2006. For the recent period …
Persistent link: https://www.econbiz.de/10005000443
ownership throughout the economy. …
Persistent link: https://www.econbiz.de/10005666779
In a study of the ownership of German corporations, we find a strong relation between board turnover and corporate … performance, little association between concentrations of ownership with managerial disciplining and only limited evidence that … pyramid structures can be used for control purposes. The static relation of ownership to control in Germany is therefore …
Persistent link: https://www.econbiz.de/10005666867
ownership-legal form categories of firms. By using a large panel of quarterly observations, we eliminate biases introduced by …
Persistent link: https://www.econbiz.de/10005666955
This Paper studies the objective function of state-owned banks. Using information on individual loan contracts, I compare the interest rate charged to two sets of companies with identical characteristics borrowing respectively from state-owned and privately owned banks. State-owned banks charge...
Persistent link: https://www.econbiz.de/10005788914
The relation between IMF conditionality and country ownership of assistance programs is considered from a political … conditionality and ownership. The Paper stresses a conflict between a reformist government and domestic interest groups that oppose … reform, leading to a distinction between government and country ownership of a program. A model of lending and policy reform …
Persistent link: https://www.econbiz.de/10005788965
We show that a cross-listing allows a firm to make better investment decisions because it enhances stock price informativeness. This theory of cross-listings yields a rich set of new predictions. In particular, it implies that the sensitivity of investment to stock prices should be larger for...
Persistent link: https://www.econbiz.de/10005791921