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The Institutional Foundations of China’s Reforms and Development

Xu, Cheng-Gang - C.E.P.R. Discussion Papers - 2010

China’s economic reforms have resulted in spectacular growth and poverty reduction. However, China’s institutions look … ill-suited to achieve such a result, and they indeed suffer from serious shortcomings. To solve "China puzzle" this paper … analyses China’s institution - a regionally decentralized authoritarian system. The central government has control over …

Persistent link: https://www.econbiz.de/10008468688

Standardized Enforcement: Access to Justice vs Contractual Innovation

Gennaioli, Nicola; Perotti, Enrico C - C.E.P.R. Discussion Papers - 2011

We model the different ways in which precedents and contract standardization shape the joint development of markets and the law. In a setting where more resourceful parties can distort contract enforcement, we find that the introduction of standard contracts reduces enforcement distortions...

Persistent link: https://www.econbiz.de/10009205065

What Drives International Financial Flows? Politics, Institutions and Other Determinants

Papaioannou, Elias - C.E.P.R. Discussion Papers - 2008

This paper uses a large panel of financial flow data from banks to assess how institutions affect international lending. First, employing a time varying composite institutional quality index in a fixed-effects framework, the paper shows that institutional improvements are followed by significant...

Persistent link: https://www.econbiz.de/10005791241

The Quality of Entrepreneurs

Hvide, Hans K - C.E.P.R. Discussion Papers - 2005

What determines the quality of entrepreneurs? To address this question, the paper proposes a simple model of the interaction between individual workers’ decision to become entrepreneurs and established firms’ effort to keep their best workers and ideas. The main prediction from the model is...

Persistent link: https://www.econbiz.de/10005792326

Economics and Terrorism: What We Know, What We Should Know and the Data We Need

Llussá, Fernanda; Tavares, José - C.E.P.R. Discussion Papers - 2007

In this paper we organize the literature on the economics of terrorism around seven different topics, offering a comprehensive view of the literature with a view to identifying questions that remain unanswered. The chosen topic areas are: The Measurement of Terrorist Activity, The Nature of...

Persistent link: https://www.econbiz.de/10005136621

Corporate Governance and Collusive Behaviour

Buccirossi, Paolo; Spagnolo, Giancarlo - C.E.P.R. Discussion Papers - 2007

This chapter examines the relationship between corporate governance and competition, particularly with regard to cartel formation, and discusses how corporate governance and firm agency problems affect optimal law enforcement against cartels, both in terms of sanctions and leniency policies....

Persistent link: https://www.econbiz.de/10005498010

CEO Power, Compensation and Governance

Albuquerque, Rui; Miao, Jianjun - C.E.P.R. Discussion Papers - 2006

This paper presents a contracting model of governance based on the premise that CEOs are the main promoters of governance change. CEOs use their power to extract higher pay or private benefits, and different governance structures are preferred by different CEOs as they favour one or the other...

Persistent link: https://www.econbiz.de/10005656247

Optimal Contracts with Enforcement Risk

Gennaioli, Nicola - C.E.P.R. Discussion Papers - 2011

I build a model where potentially biased judges verify complex states by interpreting an imperfect signal whose noise captures factual ambiguities. In a sales and a financial transaction I show that judicial biases amplify and distort factual ambiguities, creating enforcement risk. To insure...

Persistent link: https://www.econbiz.de/10009024491

Urbanization and Structural Transformation

Michaels, Guy; Rauch, Ferdinand; Redding, Stephen J. - C.E.P.R. Discussion Papers - 2008

This paper presents new evidence on urbanization using sub-county data for the United States from 1880-2000 and …

Persistent link: https://www.econbiz.de/10005662061

The Dynamics of City Formation: Finance and Governance

Henderson, J Vernon; Venables, Anthony J - C.E.P.R. Discussion Papers - 2004

This Paper examines city formation in a country whose urban population is growing steadily over time, with new cities required to accommodate this growth. In contrast to most of the literature there is immobility of housing and urban infrastructure, and investment in these assets is taken on the...

Persistent link: https://www.econbiz.de/10005788954