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Military Expenditure, Threats, and Growth

Aizenman, Joshua; Glick, Reuven - 2021

threats, corruption, and other relevant controls. While growth falls with higher levels of military spending, given the values …

Persistent link: https://www.econbiz.de/10013233439

Institutional Efficiency, Monitoring Costs, and the Investment Share of FDI

Aizenman, Joshua; Spiegel, Mark M. - 2021

obstacles associated with corruption and weak institutions. We model these circumstances in a principal-agent framework with … economic corruption as an indicator of the strength of property right enforcement within a given country. We compare corruption … levels for a large cross section of countries in 1989 to subsequent FDI flows from 1990 to 1999. We find that corruption is …

Persistent link: https://www.econbiz.de/10013310209

New Activities, the Welfare Cost of Uncertainty and Investment Policies

Aizenman, Joshua - 2008

This paper studies the effect of policy uncertainty on the formation of new activities in Romer's (1994) type of an economy, where productivity of labor increases with the number of capital goods. Adding a new capital good requires a capital specific set-up cost, invested prior to using the...

Persistent link: https://www.econbiz.de/10012774962

Adjustment Patterns to Commodity Terms of Trade Shocks : The Role of Exchange Rate and International Reserves Policies

Aizenman, Joshua - 2011

We analyze the way in which Latin American countries have adjusted to commodity terms of trade (CTOT) shocks in the 1970-2007 period. Specifically, we investigate the degree to which the active management of international reserves and exchange rates impacted the transmission of international...

Persistent link: https://www.econbiz.de/10013117207

Living with the Trilemma Constraint : Relative Trilemma Policy Divergence, Crises, and Output Losses for Developing Countries

Aizenman, Joshua - 2013

This paper investigates the potential impacts of the degree of divergence in open macroeconomic policies in the context of the trilemma hypothesis. Using an index that measures the relative policy divergence among the three trilemma policy choices, namely monetary independence, exchange rate...

Persistent link: https://www.econbiz.de/10013075864

Tax Revenue Trends in Asia and Latin America : A Comparative Analysis

Aizenman, Joshua - 2015

We take stock of and compare tax revenue trends in Asia and Latin America. The tax revenues to GDP ratios increased significantly in both regions in the 2000s, although they remain visibly below European levels. Our analysis portrays a complex picture of the tax collection challenges facing...

Persistent link: https://www.econbiz.de/10013011112

Liquidity and Foreign Asset Management Challenges for Latin American Countries

Aizenman, Joshua - 2014

We analyze the degree to which the growing importance of sovereign wealth funds [SWFs] and the diffusion of inflation targeting and augmented Taylor rules have impacted the post crisis adjustment of Latin American Countries (LATAM) to the challenges associated with terms of trade and financial...

Persistent link: https://www.econbiz.de/10013044618

Financial Liberalization in Latin-America in the 1990s : A Reassessment

Aizenman, Joshua - 2021

This paper studies the experience of Latin-America [LATAM] with financial liberalization in the 1990s. The rush towards financial liberalizations in the early 1990s was associated with expectations that external financing would alleviate the scarcity of saving in LATAM, thereby increasing...

Persistent link: https://www.econbiz.de/10013223610

Financial Development and Output Growth in Developing Asia and Latin America : A Comparative Sectoral Analysis

Aizenman, Joshua - 2015

We use data from the Groningen Growth and Development Centre (GGDC) database to perform preliminary empirical analysis of the interplay between quality and quantity of finance in accounting for the output growth of ten sectors. We review the existing literature and some salient open questions...

Persistent link: https://www.econbiz.de/10013029019

Savings and the terms of trade under borrowing constraints

Agénor, Pierre-Richard; Aizenman, Joshua - 2000

Persistent link: https://www.econbiz.de/10001507061