Showing 1 - 10 of 57
The paper argues that global financial factors played an important role in the capital-inflow episode in Emerging Market economies (EMs), during the early part of the 1990s, and clearly in the Sudden Stop (of capital inflows) crises that took place after the 1998 Russian crisis. Moreover, the...
Persistent link: https://www.econbiz.de/10012467379
This paper analyzes the interaction between corporate taxes and corporate governance. We show that the characteristics of a taxation system affect the extraction of private benefits by company insiders. A higher tax rate increases the amount of income insiders divert and thus worsens governance...
Persistent link: https://www.econbiz.de/10012467710
Male life expectancy at birth fell by over six years in Russia between 1989 and 1994. Many other countries of the …
Persistent link: https://www.econbiz.de/10012467821
During the 1990s, Russia underwent an extraordinary transformation from a communist dictatorship to a multi … partner. Yet a consensus in the US circa 2000 viewed Russia as a disastrous and threatening failure, and the 1990s as a decade … this perception and the facts. In contrast to the common image, by the late 1990s Russia had become a typical middle …
Persistent link: https://www.econbiz.de/10012468637
financial crises in the late 1990s: Brazil, Russia, and Thailand. Our findings indicate that financial turbulence in these …
Persistent link: https://www.econbiz.de/10012469224
This paper examines governance explanations for the discount of preferred shares to common shares in the Russian market. conflicts between shareholder classes may help explain the discount. However, for this to be the sole explanation the estimated models suggest that the magnitude of future...
Persistent link: https://www.econbiz.de/10012469234
This paper examines the long-run economic consequences of Western sanctions on Russia. Using a new framework for … are allowed to adjust --- 1.4 times larger for Russia and 2.2 times larger for Eastern Europe. This is contrary to the …-run consumption falls by 8.5%, Eastern European consumption by 2%, and Western countries' consumption by 0.3% in response to sanctions …
Persistent link: https://www.econbiz.de/10015326499
We repeat a survey we did in the waning days of the Soviet Union (Shiller, Boycko and Korobov, AER 1991) comparing attitudes towards free markets between Moscow and New York. Additional survey questions, from Gibson Duch and Tedin (J. Politics 1992) are added to compare attitudes towards...
Persistent link: https://www.econbiz.de/10012456647
delegated management in Imperial Russia. A regulatory change in 1893 made speculating on the St. Petersburg stock market more …
Persistent link: https://www.econbiz.de/10012456970
This paper develops a large-scale, dynamic life-cycle model to simulate Russia's demographic and fiscal transition … under favorable and unfavorable fossil-fuel price regimes. The model includes Russia, the U.S., China, India, the EU, and … Japan+ (Japan plus Korea). The model predicts dramatic increases in tax rates in the U.S., EU, India, and Russia. Indeed …
Persistent link: https://www.econbiz.de/10012457398