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"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/10011394230
"This study reviews regulatory instruments designed to reduce environmental externalities from the transport sector. The study finds that the main regulatory instruments used in practice are fuel economy standards, vehicle emission standards, and fuel quality standards. Although industrialized...
Persistent link: https://www.econbiz.de/10011394161
"Regulation is purportedly enacted to serve specific social purposes. In reality, however, it follows a more complex … its justification and objectives, regulation can have potentially significant macroeconomic consequences by helping or … Serven provide an empirical analysis of the macroeconomic impact of regulation. They first characterize the stylized facts on …
Persistent link: https://www.econbiz.de/10010522729
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Since investment climate reforms in developing countries started gaining traction in the 1990s, most efforts have focused on issues at the national level, achieving varying degrees of success for reasons that are relatively well understood. This handbook provides an overview of efforts and...
Persistent link: https://www.econbiz.de/10012247636
inclusive way for the poorest households. Kosovo has made significant progress towards pro-competition regulation of product … markets but there is still significant room for improvement. Although the product market regulation (PMR) indicators are …
Persistent link: https://www.econbiz.de/10013545583
With the recent stock market frauds in markets around the world such as the Madoff case in the U.S. and the recent Satyam fraud in India, no nation can hold its head high and claim to have good corporate governance. The reality is that the problems of fraud, faulty audits, misleading accounts,...
Persistent link: https://www.econbiz.de/10012556219
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"Microfinance has been heralded as an effective way to address imperfections in credit markets. But from a theoretical perspective, the success of microfinance contracts has puzzling elements. In particular, the group-based mechanisms often employed are vulnerable to free-riding and collusion,...
Persistent link: https://www.econbiz.de/10010522103
"The home equity bias is one of the many puzzles existing in international finance. This puzzle is characterized by the concentration of domestic equity in any investor's portfolio, which is in contradiction with the benchmark of full diversification in a world mutual fund. Based on Admati's...
Persistent link: https://www.econbiz.de/10010522704