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We explore whether the global financial crisis has had heterogeneous effects on traded goods differentiated by quality. Combining a dataset of Argentinean firm-level destination-specific wine exports with quality ratings, we show that higher quality exports grew faster before the crisis, but...
Persistent link: https://www.econbiz.de/10013010482
large parts of the world. In this paper we explore the financial and the trade channel in a unified framework and quantify …
Persistent link: https://www.econbiz.de/10012920861
Occasional crises have been shown to be part of growth enhancing mechanism (see Rancière, Tornell and Westermann, 2008). In this paper, we document that neither the stereotypical case study of India vs. Thailand, nor the benchmark growth-regression in this earlier research support this result...
Persistent link: https://www.econbiz.de/10012914607
The financial crisis of 2007-2008 had major implications for the foreign exchange market. We review events and implications for exchange rates, volatility, returns to currency investing, and transaction costs. This “blow-by-blow” narrative is intended to be a resource for researchers seeking...
Persistent link: https://www.econbiz.de/10013095774
We argue that membership in International Organizations (IOs) is an important determinant of FDI inflows. To the extent that membership restricts a country from pursuing policies that are harmful to investors, it can signal low political risk. Using data over the 1971-2005 period, we find that...
Persistent link: https://www.econbiz.de/10013136347
predicts, for instance, World Bank and IMF loans. But who gets elected to the UNSC? Addressing this question empirically is not …
Persistent link: https://www.econbiz.de/10013315879
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/10013316223
We investigate whether temporary members of the UN Security Council receive favorable treatment from the IMF, using panel data for 191 countries over the period 1951 to 2004. Our results indicate a robust positive relationship between temporary UN Security Council membership and participation in...
Persistent link: https://www.econbiz.de/10013317395
We review the literature on the political economy of international organizations (IOs). Considering IOs as products of the preferences of various actors rather than monolithic entities we focus on national politicians, international bureaucrats, interest groups, and voters. By looking into the...
Persistent link: https://www.econbiz.de/10012980581
There is little causal evidence about deep-rooted sources of support for shifting power from nation-states to international organizations. Focusing on the European Union, this paper develops the hypothesis that citizens appreciate the role of international organizations in constraining member...
Persistent link: https://www.econbiz.de/10012862881