Attempts to curb illegal activity through regulation gets complicated when agents can adapt to circumvent enforcement …

specified regulation(s). Relative to the regulation(s), four conceptual categories that can help frame the analysis are: (A …) regulation applicable and compliant, (B) regulation applicable and non-compliant, (C) regulation non-applicable after adjustment … of activity, and (D) regulation non-applicable to the activity. Rather than use the generic labels 'informal' and 'formal …

This paper investigates the role of structural reforms - privatization, financial reform and trade liberalization as … financial liberalization and privatization. These results are robust to different measures of reforms, split samples, and … potential endogeneity and omitted variables biases. -- Privatization ; financial reform ; trade liberalization ; foreign direct …

as they attempt to reform their frameworks for financial regulation. These economies are striving to balance the quest … objectives can in fact reinforce one another. I also discuss aspects of macroeconomic policies and cross-border regulation that … regulation ; financial development ; emerging markets ; financial inclusion …

We construct objective measures of privatization, internal and external liberalization reform efforts, across countries … external liberalization and privatization, concentration of political power drives internal liberalization, and democracy … underpins all three. We find that FDI inflows reduce the probability of privatization reversals, labour strikes increase that of …