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The golden hello and political transitions

Aidt, Toke; Albornoz, Facundo; Gassebner, Martin - 2012

have taken place. We test this unexplored implication of the theory empirically. We find in a world sample from 1970 to …We analyze the influence of IMF and World Bank programs on political regime transitions. We develop an extended version … transitions ; democracy ; autocracy ; IMF ; World Bank …

Persistent link: https://www.econbiz.de/10009630635

Dissecting the PPP puzzle : the unconventional roles of nominal exchange rate and price adjustment

Cheung, Yin-Wong; Lai, Kon-sun; Bergman, Michael U. - 2003

The conventional view, as expounded by sticky-price models, is that price adjustment determines the PPP reversion rate. This study examines the mechanism by which PPP deviations are corrected. Nominal exchange rate adjustment, not price adjustment, is shown to be the key engine governing the...

Persistent link: https://www.econbiz.de/10011507767

On cross-country differences in the persistence of real exchange rates

Cheung, Yin-Wong; Lai, Kon-sun - 1999

Previous findings of long-run purchasing power parity come mainly from data for industrial countries, raising the issue of whether the results suffer sample-selection bias and exaggerate the general relevance of parity reversion. This study uncovers substantial cross-country heterogeneity in the...

Persistent link: https://www.econbiz.de/10009781713

Switching from worldwide to territorial taxation : empirical evidence of FDI effects

Büttner, Thiess; Holzmann, Carolin - 2019

This paper explores empirically whether and how FDI is affected if multinationals' home countries change taxation of foreign earnings by switching from worldwide to territorial taxation. Our analysis employs data for German inbound FDI based on the ultimate investing country concept. We use a...

Persistent link: https://www.econbiz.de/10011958845

Globalization, economic freedom and human rights

Dreher, Axel; Gassebner, Martin; Siemers, Lars - 2010

Using the KOF Index of Globalization and two indices of economic freedom, we empirically analyze whether globalization and economic liberalization affect governments' respect for human rights using a panel of 106 countries over the 1981-2004 period. According to our results, physical integrity...

Persistent link: https://www.econbiz.de/10008699737

The empirics of China's outward direct investment

Cheung, Yin-Wong; Qian, Xingwang - 2009

We investigate the empirical determinants of China's outward direct investment (ODI). It is found that China's investments in developed and developing countries are driven by different sets of factors. Subject to the differences between developed and developing countries, there is evidence that...

Persistent link: https://www.econbiz.de/10003833316

Exchange rate misalignment : the case of the Chinese Renminbi

Cheung, Yin-Wong - 2012

Assessing exchange rate misalignment is not an easy task. With reference to the debate on the value of China's currency, the renminbi (RMB), this article highlights a few challenges in properly assessing the extent of currency misalignment. The results derived from the fundamental equilibrium...

Persistent link: https://www.econbiz.de/10009533965

Lock, stock, and barrel : a comprehensive assessment of the determinants of terror

Gassebner, Martin; Lüchinger, Simon - 2011

We assess the robustness of previous findings on the determinants of terrorism. Using extreme bound analysis, the three most comprehensive terrorism datasets, and focusing on the three most commonly analyzed aspects of terrorist activity, i.e., location, victim, and perpetrator, we re-assess the...

Persistent link: https://www.econbiz.de/10009266761

Exchange rate misalingment estimates : sources of differences

Cheung, Yin-Wong; Fujii, Eiji - 2011

We study the differences of currency misalignment estimates obtained from alternative datasets derived from two International Comparison Program (ICP) surveys. A decomposition exercise reveals that the year 2005 misalignment estimates are substantially affected by the ICP price revision....

Persistent link: https://www.econbiz.de/10009272286

A high-low model of daily stock price ranges

Cheung, Stephen Y. L. (contributor); … - 2008

We observe that daily highs and lows of stock prices do not diverge over time and, hence, adopt the cointegration concept and the related vector error correction model (VECM) to model the daily high, the daily low, and the associated daily range data. The in-sample results attest the importance...

Persistent link: https://www.econbiz.de/10003749656