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Deals versus rules : policy implementation uncertainty and why firms hate it
Hallward-Driemeier, Mary - 2010
"Firms in Africa report "regulatory and economic policy uncertainty" as a top constraint to their growth. We argue that … often firms in Africa do not cope with policy rules, rather they face deals; firm-specific policy actions that can be … uncorrelated with ex-post firm-level responses, further evidence that deals rather than rules prevail in Africa. Strikingly, the …
Persistent link: https://www.econbiz.de/10011394615
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Deals versus Rules : Policy Implementation Uncertainty and Why Firms Hate It
Hallward-Driemeier, Mary - 2010
Firms in Africa report "regulatory and economic policy uncertainty" as a top constraint to their growth. We argue that … often firms in Africa do not cope with policy rules, rather they face deals; firm-specific policy actions that can be … uncorrelated with ex-post firm-level responses, further evidence that deals rather than rules prevail in Africa. Strikingly, the …
Persistent link: https://www.econbiz.de/10012462652
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Corporate Decision-Making under Uncertainty : Review and Future Research Directions
Campello, Murillo; Kankanhalli, Gaurav - National Bureau of Economic Research - 2022
Uncertainty over future business conditions lies at the heart of firm decision-making. Uncertainty can arise from a myriad of sources and is difficult to measure. We present a simple conceptual framework showing how several key corporate decisions are affected by uncertainty. We also highlight...
Persistent link: https://www.econbiz.de/10013477225
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Fiscal Devaluations
Farhi, Emmanuel - 2011
We show that even when the exchange rate cannot be devalued, a small set of conventional fiscal instruments can robustly replicate the real allocations attained under a nominal exchange rate devaluation in a dynamic New Keynesian open economy environment. We perform the analysis under...
Persistent link: https://www.econbiz.de/10012460995
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Competitive Lending with Partial Knowledge of Loan Repayment
Brock, William A. - 2008
We study a competitive credit market in which lenders with partial knowledge of loan repayment use one of three decision criteria - maximization of expected utility, maximin, or minimax regret - to make lending decisions. Lenders allocate endowments between loans and a safe asset, while...
Persistent link: https://www.econbiz.de/10012464269
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Do Political Institutions Shape Economic Policy?
Persson, Torsten - 2001
have smaller welfare-state programs and less corruption. Other results present puzzles for future research: the adjustment …
Persistent link: https://www.econbiz.de/10012470510
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Electoral Turnovers
Marx, Benjamin M.; Pons, Vincent; Rollet, Vincent - National Bureau of Economic Research - 2022
, and it reduces perceived corruption, consistent with the expectation that recently elected leaders exert more effort due …
Persistent link: https://www.econbiz.de/10012938735
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Power Fluctuations and Political Economy
Acemoglu, Daron - 2009
We study the constrained Pareto efficient allocations in a dynamic production economy in which the group that holds political power decides the allocation of resources. We show that Pareto efficient allocations take a quasi-Markovian structure and can be represented recursively as a function of...
Persistent link: https://www.econbiz.de/10012463249
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Electoral Fraud, the Rise of Peron and Demise of Checks and Balances in Argentina
Alston, Lee J. - 2009
The future looked bright for Argentina in the early twentieth century. It had already achieved high levels of income per capita and was moving away from authoritarian government towards a more open democracy. Unfortunately, Argentina never finished the transition. The turning point occurred in...
Persistent link: https://www.econbiz.de/10012463440
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Testing Limits to Policy Reversal : Evidence from Indian Privatizations
Dastidar, Siddhartha G. - 2007
We examine the effect of regime change on privatization using the 2004 election surprise in India. The pro-reform BJP was unexpectedly defeated by a less reformist coalition. Stock prices of government-controlled companies that had been slated for definite privatization by the BJP dropped by 3.5...
Persistent link: https://www.econbiz.de/10012465222