The paper presents a detailed description of IMF and World Bank conditionality and tries to explain changes in this conditionality over time as well as differences between the two institutions. Using panel data it is shown that the number of Fund conditions seem to be influenced by...

This paper shows that indicators and tests of government solvency should not be used alternatively. We present a simple and intuitive procedure to integrate simultaneously the results from the two approaches to fiscal sustainability. An application to U.S. post-World War II data demonstrates the...

Klimapolitik ist aufgrund der Vielfalt der direkt betroffenen Akteursgruppen, ihrer globalen Reichweite und ihres extrem langen Zeithorizonts besonders anfällig für Verzerrungen durch Interessengruppen. Daher ist die Theorie der Neuen Politischen Ökonomie gut geeignet, die klimapolitische...

Only three years after its initial endorsement by the World Bank and the IMF in 1996, the Heavily Indebted Poor Country (HIPC) - Initiative was considerably altered and enhanced. How did this change come about? Neither developments in economic theory, nor empirical evidence of changed...

To understand the reasons for the formation of regional economic groupings two basic concepts are introduced: association and dissociation. Moreover, the importance of interest groups and strategic groups is discussed, and security and bargaining power as basic political motivations are...

The question of the state and the evolution of protectionism often gets a simplified answer: The main view is that the GATT Rounds have been achieving a continuous reduction. This view is partly revised based on four propositions: (1) Protectionism is an integral part of the international...

So far, the dominant paradigm in international climate policy has been mitigation while adaptation has been a low-key issue. However, with LDCs starting to push for adaptation side payments it has recently gained importance. The allocation of funds and the definition of adaptation activities are...

We investigate the finance-growth nexus before and around the global financial crisis using for the first time OTC derivative data in growth estimates. Beyond the most recent Wacthel and Rousseau (2010) evidence which documents the interruption of the positive finance-growth relationship after...

We provide aggregate macroeconomic evidence on how, in the long-run, a diverse degree of complexity in production may affect not only the rate of economic growth, but also the correlation between the latter, population growth and the monopolistic (intermediate) markups. For a sample of OECD...

We propose a new set of indices to capture the multidimensionality of a country's institutional quality. Our indices are obtained by employing a dimension reduction approach on the institutional variables provided by the Frazer Institute (2018). We estimate the impact that our measures of...