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In this discussion draft, linking research findings with concrete operational challenges, we review key issues in worldwide governance, and present recent empirical evidence. Focusing on defining and unbundling key governance components, such as rule of law, voice and accountability, corruption...
Persistent link: https://www.econbiz.de/10005561333
We investigate the effect of financial liberalization on the probability of a banking crises in economies with poor transparency We construct a model with imperfect information where banks cannot distinguish between aggregate shocks on the one hand, and government’s policy and firms’...
Persistent link: https://www.econbiz.de/10005561599
. The Asian financial crisis has highlighted not only the welfare consequences of financial sector transparency, sparking a …
Persistent link: https://www.econbiz.de/10005561607
This paper is an exercise in applied macroeconomic forecasting. We examine the forecasting power of a vector error-correction model (VECM) that is anchored by a long-run equilibrium relationship between Greek national income and productive public expenditure as suggested by the economic theory....
Persistent link: https://www.econbiz.de/10005556281
antipoverty policies to his support for welfare reform and federal job creation programs …
Persistent link: https://www.econbiz.de/10005561207
show that if the government provides the good, the resulting growth rate and welfare may or may not be higher than under … laissez-faire. By contrast, if the government subsidizes private providers, not only are growth and welfare higher than under …
Persistent link: https://www.econbiz.de/10005076791
This paper develops a proxy measure of the inequality of influence on the basis of survey evidence from 2002 Business Environment and Enterprise Performance Survey (BEEPS) conducted among 6,500 firms in 27 transition countries. We refer to the resulting inequality as crony bias in the political...
Persistent link: https://www.econbiz.de/10005407672
Based on the Business Environment and Enterprise Performance Survey (BEEPS) of firms in transition countries, which unbundles corruption to measure different types of corrupt transactions and provide detailed information on the characteristics and performance of firms, we find that: i)...
Persistent link: https://www.econbiz.de/10005407674
This paper analyzes the impact of a redrawing of political boundaries on voting patterns. It investigates whether secession of states leads to gains in terms of better conformity of the electorate's political preferences with those of the elected representatives. We study these issues in the...
Persistent link: https://www.econbiz.de/10005407801
The incentive contracts that managed care organizations write with physicians have generated considerable controversy. Critics fear that if informational asymmetries inhibit patients from directly assessing the quality of care provided by their physician, competition will lead to a "race to the...
Persistent link: https://www.econbiz.de/10005413291