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On the Preferred Creditor Status of Multilateral Development Banks
Amegashie, J. Atsu - 2023
The loans of the IMF, World Bank, and other multilateral development banks (MDBs) are excluded from debt restructuring …
Persistent link: https://www.econbiz.de/10014347019
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Economic Policy Uncertainty : Persistence and Cross-Country Linkages
Aikins Abakah, Emmanuel Joel - 2020
This paper provides new evidence on the stochastic behaviour of the EPU (Economic Policy Uncertainty (EPU) index constructed by Baker et al. (2016) in six of the biggest economies (Canada, France, Japan, US, Ireland, and Sweden) over the period from January 1985 to October 2019. In particular,...
Persistent link: https://www.econbiz.de/10012833734
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Diasporas and Economic Development : A Review of the Evidence and Policy
Bahar, Dany - 2020
The paper reviews recent literature on the economics of migration and diasporas, focusing on economic gains and opportunities that these diasporas could represent for home countries. In addition, the paper discusses policies aimed at leveraging this "diaspora capital"
Persistent link: https://www.econbiz.de/10012841140
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International Value-Added Linkages in Development Accounting
Cuñat, Alejandro - 2018
We generalise the traditional development-accounting framework to an open-economy setting. In addition to factor endowments and productivity, relative factor costs emerge as a source of real-income variation across countries. These are shaped by bilateral trade determinants (which underpin the...
Persistent link: https://www.econbiz.de/10012908693
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Political Risk and Real Exchange Rate : What Can We Learn from Recent Developments in Panel Data Econometrics for Emerging and Developing Countries?
Bahmani‐Oskooee, Mohsen - 2019
This paper focuses on the analysis of the long-run response of the Real Exchange Rate (RER) to political risks and tests whether non-economic variables have an impact on RER in 31 emerging and developing countries. We use annual data from the International Country Risk Guide database over the...
Persistent link: https://www.econbiz.de/10012892145
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Stigma or Cushion? IMF Programs and Sovereign Creditworthiness
Gehring, Kai - 2018
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
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Climate policy and development
Gersbach, Hans; Hummel, Noemi - 2009
We propose a development-compatible refunding system designed to mitigate climate change. Industrial countries pay an initial fee into a global fund. Each country chooses its national carbon tax. Part of the global fund is refunded to developing and industrial countries, in proportion to the...
Persistent link: https://www.econbiz.de/10010265998
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The politician and his banker
Hainz, Christa; Hakenes, Hendrik - 2007
Should the European Union grant state aid through an institution like the European Investment bank? This paper evaluates the efficiency of different measures for granting state aid. We use a theoretical model with firms that differ in their creditworthiness and compare different types of...
Persistent link: https://www.econbiz.de/10010264253
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Can Aid Buy Foreign Public Support? Evidence from Chinese Development Finance
Wellner, L; Dreher, Axel; Fuchs, Andreas; Parks, Brad; … - 2022
data from the Gallup World Poll for 126 countries over the 2006–2017 period and identify causal effects with (i) an event …
Persistent link: https://www.econbiz.de/10013293845
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The costs of favoritism: Is politically-driven aid less effective?
Dreher, Axel; Klasen, Stephan; Vreeland, James Raymond; … - 2010
World Bank projects and generally find that projects that are potentially politically motivated - such as those granted to … governments holding a non-permanent seat on the United Nations Security Council or an Executive Directorship at the World Bank … Council members with higher short-term debt, however, a negative quality rating is more likely. So we find evidence that World …
Persistent link: https://www.econbiz.de/10010332994