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The Historical Roots of Corruption and Economic Development in Italy
Petrarca, Ilaria; Ricciuti, Roberto - CESifo - 2013
We claim that a sequential mechanism linking history to development exists: first, history defines the quality of social capital; then, social capital determines the level of corruption; finally, corruption affects economic performance. We test this hypothesis on a dataset of Italian provinces,...
Persistent link: https://www.econbiz.de/10010641421
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Distribution of Natural Resources, Entrepreneurship, and Economic Development: Growth Dynamics with two Elites
Falkinger, Josef; Grossmann, Volker - CESifo - 2005
entrepreneurial elite, resulting in economic policy and institutions which are more conducive to entrepreneurship and productivity …
Persistent link: https://www.econbiz.de/10005765922
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Can Integrity Replace Institutions? Theory and Evidence
Aharonovitz, Gilad D.; Skuza, Nathan; Fahs, Faysal - CESifo - 2009
Institutions are important for proper economic performance, but are replaceable by trust or other social norms. We show … that when proper institutions and trust are missing, integrity of the individuals can replace them. We construct a model of … a transactions-based economy with contracts preceding the transactions, and show that any one of (1) institutions, (2 …
Persistent link: https://www.econbiz.de/10005013043
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Institutions and Development: The Interaction between Trade Regime and Political System
Falkinger, Josef; Grossmann, Volker - CESifo - 2004
This paper argues that openness to goods trade in combination with an unequal distribution of political power has been a major determinant of the comparatively slow development of resource- or land-abundant regions like South America and the Caribbean in the nineteenth century. We develop a...
Persistent link: https://www.econbiz.de/10005094384
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Culture and Institutions: Economic Development in the Regions of Europe
Tabellini, Guido - CESifo - 2005
instruments: the literacy rate at the end of the XIXth century, and the political institutions in place over the past several … and with available measures of institutions in a cross-country setting. …
Persistent link: https://www.econbiz.de/10005406158
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Resource Windfalls, Macroeconmic Stability and Growth: The Role of Political Institutions
Arezki, Rabah; Hamilton, Kirk; Kazimov, Kazim - CESifo - 2011
windfalls on macroeconomic stability and economic growth are moderated by the quality of political institutions. …
Persistent link: https://www.econbiz.de/10009645234
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Exchange Rate Regimes and Macroeconomic Stability in Central and Eastern Europe
Grauwe, Paul De; Schnabl, Gunther - CESifo - 2004
This paper explores the impact of the exchange rate regime on inflation and output in the Central and Eastern European (CEE) EU candidate countries. The panel estimations for the period between 1994 and 2002 show that de facto measures of exchange rate stability have a better explanatory power...
Persistent link: https://www.econbiz.de/10005766042
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CCS - Failing to Pass Decision Gates
Emhjellen, Magne; Osmundsen, Petter - CESifo - 2014
There is a planning gap for CCS projects in Europe. CCS demonstration plants are not implemented as expected. This fact is at odds with optimistic valuation reports that apply socio-economic valuation criteria for climate projects. However, CCS plants are in most cases to be implemented by...
Persistent link: https://www.econbiz.de/10010888457
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Thin-Capitalization Rules and Company Responses Experience from German Legislation
Weichenrieder, Alfons; Windischbauer, Helen - CESifo - 2008
By granting intracompany loans to their foreign affiliates, multinational firms may reduce their tax liability abroad. Many countries have legislated thin-capitalization rules (TCRs) that limit the allowable levels of intracompany loans or restrict interest deductibility if certainthresholds are...
Persistent link: https://www.econbiz.de/10005406131
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Stock Market Returns, Corporate Governance and Capital Market Equilibrium
Parigi, Bruno Maria; Pelizzon, Loriana; Thadden, … - CESifo - 2013
This paper proposes a theoretical model that incorporates corporate governance into the basic CAPM, where corporate … governance affects the disutility of managerial effort and the possibility of managers to divert company resources. It shows that … corporate governance affects firms’ stock returns and also how the quality of corporate governance is chosen endogenously. The …
Persistent link: https://www.econbiz.de/10010720638