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Are Oligarchs Productive? Theory and Evidence
Gorodnichenko, Yuriy; Grygorenko, Yegor - EconWPA - 2005
This paper develops a partial equilibrium model to account for stylized facts about the behavior of oligarchs, politically and economically strong conglomerates in transition and developing countries. The model predicts that oligarchs are more likely than other owners to invest in productivity...
Persistent link: https://www.econbiz.de/10005407700
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INDIAN VENTURE CAPITALISTS (VCs) INVESTMENT EVALUATION CRITERIA
Mishra, Asim - EconWPA - 2005
The Venture capital (VC) industry in India is of recent origin. However, the average investment value of each deal in India have grown from $3.85 million in 2000 to $7.89 million in 2001.These developments together with the recent steps taken by government to promote venture capitalism in India...
Persistent link: https://www.econbiz.de/10005134795
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A primer on new techniques used by the sophisticated financial fraudster, with special reference to commodity market instruments
Rutten, Lamon - EconWPA - 2003
Financial instruments such as documentary credit, structured finance and derivatives have proved their value in commodity trade. However, the sophistication of these instruments can also make them a tool for financial fraud. This report discusses how, using commodity market instruments such as...
Persistent link: https://www.econbiz.de/10005062699
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E-payments: modern complement to traditional payment systems
Heng, Stefan - EconWPA - 2004
The challenges of payment transactions in electronic commerce were initially underestimated, as is now clear in the light of technological progress and stricter legislation, meaning traditional business models are increasingly coming up against their limits. Only secure, user- friendly and...
Persistent link: https://www.econbiz.de/10005561569
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Counting chickens when they hatch: The short-term effect of aid on growth
Clemens, Michael A.; Radelet, Steven; Bhavnani, Rikhil - EconWPA - 2004
Past research on aid and growth is flawed because it typically examines the impact of aggregate aid on growth over a … positive, causal relationship between this 'short-impact' aid and economic growth (with diminishing returns) over a four …-year period. The impact is large: at least two-to-three times larger than in studies using aggregate aid. Even at a conservatively …
Persistent link: https://www.econbiz.de/10005408143
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Exogenous shocks and real estate rental markets: An event study of the 9/11 attacks and their impact on the New York office market
Fuerst, Franz - EconWPA - 2005
Any attempt to measure the impact of the 9/11 attacks is faced with the difficulty of separating the effects of the … attacks from the impact of a wider economic recession and other simultaneous events. This study attempts to isolate the effect … of their spatial and temporal impact. While the New York office market as a whole has demonstrated remarkable resiliency …
Persistent link: https://www.econbiz.de/10005561660
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Complementarity, Competition and Institutional Development: The Irish Loan Funds through Three Centuries
Hollis, Aidan; Sweetman, Arthur - EconWPA - 1997
Ireland's loan funds were a long lived, self-sustaining, large-scale microcredit organization that made millions of loans, without collateral, to the poor. We examine the life-cycle of this institution and show how the loan funds responded to their economic environment in ways that benefitted...
Persistent link: https://www.econbiz.de/10005076565
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Why Do Firms Hide? Bribes and Unofficial Activity after Communism
Johnson, Simon; Kaufmann, Daniel; McMillan, John; … - EconWPA - 2003
Our survey of private manufacturing firms finds the size of hidden ‘unofficial’ activity to be much larger in Russia and Ukraine than in Poland, Slovakia and Romania. A comparison of cross-country averages shows that managers in Russia and Ukraine face higher effective tax rates, worse...
Persistent link: https://www.econbiz.de/10005076624
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The Dynamics of Currency Substitution, Asset Substitution and De facto Dollarization and Euroization in Transition Countrieses
Feige, Edgar L. - EconWPA - 2003
This paper presents new evidence on the dynamics of dollarization and euroization for twenty-five transition countries. Estimates of the amount of foreign currency in circulation (FCC) in transition countries are used to develop a new comprehensive dollarization index (CDI) and separate indices...
Persistent link: https://www.econbiz.de/10005076821
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Transition in FSU and sub-Saharan countries: The role of institutions
Laurila, Juhani - EconWPA - 2002
This study compares transition processes in countries of Central and Eastern Europe, the former Soviet Union (FSU) and sub-Saharan Africa. By widening the scope from most- to least-developed transition economies, the study establishes the importance of a strong state with evolved institutional...
Persistent link: https://www.econbiz.de/10005076830