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IMF programs are often considered to carry a “stigma” that triggers adverse market reactions. We show that such a negative IMF effect disappears when accounting for endogenous selection into programs. To proxy for a country's access to financial markets, we use credit ratings and investor...
Persistent link: https://www.econbiz.de/10012920590
This paper investigates the impact of banking prudential regulation on sovereign risk. We show that prudential regulation reduces sovereign risk and induces governments to spend more. As a result, countries with tight prudential regulation have lower primary budget balances and accumulate more...
Persistent link: https://www.econbiz.de/10014356478
This paper analyzes whether nation-state governments can increase their credibility by becoming members of international organizations. Credibility is an important asset because it determines the real interest rate and is expected to have an important impact on investment and growth. It is...
Persistent link: https://www.econbiz.de/10010264350
economic growth in Poland over the period Q2, 1993 – Q2, 2003. …
Persistent link: https://www.econbiz.de/10010277058
The idea of fiscal decentralisation has become increasingly fashionable world-wide. But every country has unique … to survey the recent development of municipal finance: Britain, Germany, Poland and Switzerland. This paper firstly …
Persistent link: https://www.econbiz.de/10010261103
In the context of interwar Poland, we find that Jews tended to be more literate than non-Jews, but show that this …, and people in cities were more educated than people in villages regardless of their religion. The case of interwar Poland …
Persistent link: https://www.econbiz.de/10012840689
. Using a simulation-based technique, we find that estimates of FDI effects of EMU range between 18.5 percent for Poland and …
Persistent link: https://www.econbiz.de/10013316812
The past decade has witnessed an increase in populist movements across the world. Some of those movements have gained … looking at the case of Poland which according to several recent studies has experienced the highest level of populist … rhetorics in recent years. Indeed, when the new populist government took power, between 2015-2019, Poland experienced a major …
Persistent link: https://www.econbiz.de/10014264454
The general-equilibrium effects of performance-related teacher pay include long-term incentive and teacher-sorting mechanisms that usually elude experimental studies but are captured in cross-country comparisons. Combining country-level performance-pay measures with rich PISA-2003 international...
Persistent link: https://www.econbiz.de/10013139418
Most pre-crisis explanations of the various corporate governance systems have considered the separation between ownership and control to be an advantage of the Anglo-American economies. They have also attributed the failure of other countries to achieve these efficient arrangements to their...
Persistent link: https://www.econbiz.de/10013116042