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Does corruption grease or sand the wheels of economic growth? This paper uses metaanalysis techniques to systematically … evaluate the evidence addressing this question. It uses a data set comprising 460 estimates of the effect of corruption on … for institutions and trade openness (both are found to deflate the negative effect of corruption), authors' affiliation …
Persistent link: https://www.econbiz.de/10009304317
This Time is Different: Eight Centuries of Financial Folly is one of the best, if not the best, books ever written on the history of financial crises. It presents a comprehensive survey of financial crises utilizing an extraordinary database of macroeconomic and financial series. The massive...
Persistent link: https://www.econbiz.de/10008900898
Persistent link: https://www.econbiz.de/10003356034
Persistent link: https://www.econbiz.de/10003356667
Recent research convincingly shows that crises beget reform. Although the consensus is that economic crises foster macroeconomic stabilization, it is silent on which types of crises cause which types of reform. Is it economic or political crises that are the most important drivers of structural...
Persistent link: https://www.econbiz.de/10003348532
, however, is that there seem to be certain "threshold" levels of financial and institutional development that an economy needs …
Persistent link: https://www.econbiz.de/10003831857
What are the main causes of international terrorism? The lessons from the surge of academic research that followed 9/11 remain elusive. The careful investigation of the relative roles of economic and political conditions did little to change the fact that existing econometric estimates diverge...
Persistent link: https://www.econbiz.de/10003824948
Persistent link: https://www.econbiz.de/10003846883
Using the indexes we developed (Aizenman, Chinn, and Ito, 2008) to measure the degree of the three policy choices countries make with respect to the trilemma: exchange rate stability, monetary independence, and capital account openness, we investigate the normative questions pertaining to the...
Persistent link: https://www.econbiz.de/10003854752
We develop a methodology that intuitively characterizes the choices countries have made with respect to the trilemma during the post Bretton-Woods period. The paper first outlines the new metrics for measuring the degree of exchange rate flexibility, monetary independence, and capital account...
Persistent link: https://www.econbiz.de/10003854880