Showing 1 - 10 of 58
that include taking large ownership stakes in financial institutions, in addition to establishing programs for direct …
Persistent link: https://www.econbiz.de/10005007475
The authors compare the two merger control systems currently employed worldwide: a mandatory system based on merger size threshold and a voluntary system with ex-post monitoring and fines. The voluntary system possesses two informational advantages: (i) the enforcement agency employs more...
Persistent link: https://www.econbiz.de/10004972487
In times of crises, it is always useful to revisit some of the paradigms that underlie collective thinking and action. For nearly 200 years, most social science has relied on the assumption that the emergence of strong and nurturing social capital through a vibrant civil society yields all kind...
Persistent link: https://www.econbiz.de/10004972491
Persistent link: https://www.econbiz.de/10011079332
The World Bank's president has been an American by tradition. Yet little work has explored the consequences for this connection in influencing visions of development in the organization across time. This paper uses evidence from archives, congressional hearing records, and memoirs and histories...
Persistent link: https://www.econbiz.de/10010829399
This paper studies the portfolio choice of strategic fund managers in the presence of a peer-based underperformance penalty. Evidence is taken from the Colombian pension fund management industry, where six asset managers are in charge of portfolio allocation for the mandatory contributions of...
Persistent link: https://www.econbiz.de/10010829651
This paper studies the impact of the rapid expansion of the Brazilian road network, which occurred from the 1960s to the 2000s, on the growth and spatial allocation of population and economic activity across the country's municipalities. It addresses the problem of endogeneity in infrastructure...
Persistent link: https://www.econbiz.de/10010829676
The ability of citizens to act collectively plays a central role in major debates in the political economy of development, including the causes and consequences of democratization and clientelism. This essay uses two lines of research to underscore the importance of explicitly introducing the...
Persistent link: https://www.econbiz.de/10010829856
In recent years there has been a rapid increase in the presence and growth of greenfield microfinance institutions in Sub-Saharan Africa. This paper uses regressions to benchmark those African greenfields relative to other microfinance providers and finds that greenfields grew faster in terms of...
Persistent link: https://www.econbiz.de/10010903284
This paper examines the association between the default risk of foreign bank subsidiaries and their parents during the global financial crisis, with the purpose of understanding what factors can help insulate affiliates from their parents. The paper finds evidence of a significant positive...
Persistent link: https://www.econbiz.de/10010934298