recent global liquidity crisis and, in particular, the quant event of 2007. …

reform, because politicians have the incentive to embrace growth-enhancing reforms to win elections. On the other hand …

on resource abundance equals 10.9 percentage points more reform, a large effect given that the mean probability of reform …

exogenous variation in regulation generated by the interaction of reform and its institutional determinants, we find a …What determines the enforcement of deregulation reform of business activities? What are the outcomes of deregulation …? We address these questions using an episode of a drastic reform in Russia between 2001 and 2004 which liberalized …

. In particular, high Northern interest rates are strongly associated with the onset of banking crises in developing …

Regressions of ex-post changes in floating exchange rates on appropriate interest differentials typically imply that … the high interest rate currency tends to appreciate - the `forward discount puzzle'. Using data from the European Monetary …, deviations from uncovered interest parity appear to vary in a way that is dependent upon the exchange rate regime. By using the …

dataset on Russia where GDP experienced an 8 percent drop in 2009. The effect of the crisis had been very uneven among Russian … the crisis. The variation in the industrial structure allows creating an instrument for the change in income. After … that the average level of trust in Russia is 25%, this magnitude is substantial. We also find that post-crisis economic …

implicit caps on interest rates, and tighter regulation on cross-border capital movements. … needs of governments to reduce debt rollover risks and curb rising interest expenditures in light of the substantial debt …

behaviour, as the result of public intervention, which leads domestic banks either to lend less or at higher interest rates to …-term interest rates, though our data set here is much smaller. We examine the loan mix for both British and foreign banks, both … eleven percentage points and increased their effective interest rates by about 70 basis points. By way of contrast …

economic crisis. Evidence on the variety of discrimination implemented by governments, characteristics of the recent systemic … crisis, as well as on certain, often overlooked features of WTO obligations are used to support a conclusion that the WTO … rules altered at most the composition of crisis-era protectionism. As to the quantum of protectionism, it is unclear how WTO …