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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

WTO membership and the shift to consumption taxes

Büttner, Thiess; Madzharova, Boryana - 2016

implications of membership in the World Trade Organization (WTO). Em-ploying robust difference-in-difference specifications as well …

Persistent link: https://www.econbiz.de/10011522137

China's capital flight : pre- and post-crisis experiences

Cheung, Yin-Wong; Steinkamp, Sven; Westermann, Frank - 2015

We study China's illicit capital flow and document a change in its pattern. Specifically, we observe that China's capital flight, especially the one measured by trade misinvoicing, exhibits a weakened response in the post-2007 period to the covered interest disparity, which is a theoretical...

Persistent link: https://www.econbiz.de/10011375683

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

The evolution of offshore renminbi trading : 2016 to 2019

Cheung, Yin-Wong; Grimm, Louisa; Westermann, Frank - 2020

We study the evolution of offshore renminbi trading between 2016 and 2019. The diffusion behaviour of offshore renminbi trading during this period is different from the one between 2013 and 2016. The geographical diffusion process displayed in the 2016-2019 period, in addition to the previously...

Persistent link: https://www.econbiz.de/10012234514

Politicized trade : what drives withdrawal of trade preferences?

Gassebner, Martin; Gnutzmann-Mkrtchyan, Arevik - 2017

While it is well understood that industrialized countries use aid to grant political favors, little research covers alternative channels such as trade policy towards developing countries. We analyze eligibility investigations and revoking of U.S. Generalized System of Preferences (GSP) benefits...

Persistent link: https://www.econbiz.de/10011761497

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