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Firms often try to influence individuals that, like regulators, are tasked with advising or deciding on behalf of a third party. In a dynamic regulatory setting, we show that a firm may prefer to capture regulators through the promise of a lucrative future job opportunity (i.e., the...
Persistent link: https://www.econbiz.de/10013236193
China's development model challenges the approaches of traditional Western donors like the World Bank. We argue that both aim at stability, but differ in the norms propagated to achieve that. Using fixed effects and IV estimations, we analyze a broad range of subnational stability measures in...
Persistent link: https://www.econbiz.de/10012861418
China’s development model challenges the approaches of traditional, Western donors like the World Bank. We argue that both aim at stability, but differ in the norms propagated to achieve that. Using fixed effects and IV estimations, we analyze a broad range of subnational stability measures in...
Persistent link: https://www.econbiz.de/10014033178
The loans of the IMF, World Bank, and other multilateral development banks (MDBs) are excluded from debt restructuring. This is the result of their preferred creditor status. There are two justifications for the preferred creditor status of MDBs: (a) they give concessional loans, and (b) they...
Persistent link: https://www.econbiz.de/10014347019
During the last decade unicameral proposals have been put forward in fourteen US states. In this paper we propose a theoretical framework casting some lights on the drawbacks of bicameral state legislatures and on the effects of the proposed constitutional reforms. In a setting where lawmakers...
Persistent link: https://www.econbiz.de/10010273815
lobbying, because now decisions are too sensitive to the preferences of the organised group. …
Persistent link: https://www.econbiz.de/10010275667
Taking a political economy perspective this paper proposes an alternative carbon abatement policy instrument with significant advantages over existing policy instruments. The key feature of the proposed carbon securities is that they entitle their owners to a fixed proportion of ex ante unknown...
Persistent link: https://www.econbiz.de/10010281453
This paper shows why a majority of legislators may vote for a policy that benefits a firm but harms all legislators. The firm may induce legislators to support the policy by suggesting that it is more likely to invest in a district whose voters or representative support the policy. In...
Persistent link: https://www.econbiz.de/10010281930
The compromise enhancing effect of lobbying on public policy has been established in two typical settings. In the first … demonstrate that in the latter setting, the compromising effect of lobbying need not exist. Our reduced-form, two-stage public …) desires to suckle thereby threatening the public well being more than the lobbying interest groups. The main result specifies …
Persistent link: https://www.econbiz.de/10010261146
We study the role of firms in the political economy of trade agreements. Using detailed information from lobbying … reports filed under the Lobbying Disclosure Act, we find that virtually all firms that lobby on free trade agreements (FTAs …) support their ratification. Moreover, relative to non-lobbying firms, lobbying firms are larger, and more likely to be engaged …
Persistent link: https://www.econbiz.de/10012836007