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Using the regression discontinuity design of close gubernatorial elections in the U.S., we identify a significant and positive impact of the social networks of corporate directors and politicians on firm value. Firms connected to elected governors increase their value by 3.89%. Political...
Persistent link: https://www.econbiz.de/10011249372
The paper studies the effect of additional government revenues on political corruption and on the quality of … implications of the theory and identify the causal effect of larger federal transfers on political corruption and the observed … transfers increase political corruption and reduce the quality of candidates for mayor. …
Persistent link: https://www.econbiz.de/10008468543
. We show that corruption opportunities are lower under centralization at each period of time. However, centralization … makes more difficult for citizens to detect corrupt incumbents. Thus, corruption is easier under centralization for low …
Persistent link: https://www.econbiz.de/10008468714
predictions along two main dimensions. First, corruption is more frequent in sectors where public institutions are large buyers …
Persistent link: https://www.econbiz.de/10008865969
’s corruption levels. Examining a large sample of countries covering a 20-year long period, we found robust empirical support for … the fact that increases in import openness do indeed cause reductions in corruption, a crucial aspect of governance. The … corruption is close to one third of that exercised by the level of development. Some cautious policy conclusions are derived. …
Persistent link: https://www.econbiz.de/10005114501
Does information about rampant political corruption increase electoral participation and the support for challenger … copious corruption not only decreases incumbent support in local elections in Mexico, but also decreases voter turnout …
Persistent link: https://www.econbiz.de/10011084114
In this paper we introduce the notion of stability threshold that quantifies the minimal returns to size sufficient to prevent credible secession threats by regions of the country. Severity of internal tension has been linked to degree of polarization of citizens' preferences and...
Persistent link: https://www.econbiz.de/10005123952
Inspired by the current debate over the future of the monetary union in Europe, this paper provides a simple model for the determination of the conditions of survival of the common good, which requires the creation of an effective fiscal union. We highlight the importance of institutional design...
Persistent link: https://www.econbiz.de/10009283396
This paper develops a method to estimate information rents of losers of a reform who receive a monetary compensation. Our method explicitly accounts for survey respondents' reluctance to reveal a willingness to accept which is smaller than the actual compensation. We apply our approach to the...
Persistent link: https://www.econbiz.de/10011083574
Large public bureaucracies are commonly regarded as less efficient than modern private corporations. This paper explores how the degree of discretionary power might account for this difference in efficiency. Indeed, increasing the discretionary power of the intermediate layers of an organization...
Persistent link: https://www.econbiz.de/10008873329