Showing 1 - 10 of 454
We study the dynamic response of gross capital flows in emerging market economies to different global financial shocks, using a panel vector-autoregressive (PVAR) setting. Our focus lies primarily on the potentially stabilizing role played by domestic investors in offsetting the response of...
Persistent link: https://www.econbiz.de/10013053960
This paper revisits the effects of corruption on the state's capacity to raise revenue, building on the existing …-2014, compiled by the IMF. It finds that-consistent with the existing literature-corruption is negatively associated with overall tax … revenue, and most of its components. This relationship is predominantly influenced by the way corruption interacts with tax …
Persistent link: https://www.econbiz.de/10012929954
factor in determining a country’s level of corruption. In a simple growth model, we illustrate the interrelationships between … natural resources, corruption, and economic growth, and discuss potential anti-corruption policies. We show that the extent of … corruption depends on natural resource abundance, government policies, and the concentration of bureaucratic power. Furthermore …
Persistent link: https://www.econbiz.de/10013212111
This paper examines the indirect role the IMF plays in combating corruption in the Baltic and CIS countries by … analysis draws on examples of actual experience with corruption and outlines some of the structural measures under IMF …-supported arrangements, which, if successfully implemented, can be expected to help gradually alleviate corruption. It also summarizes IMF …
Persistent link: https://www.econbiz.de/10013317988
Public procurement can be highly vulnerable to corruption. This paper outlines a methodology and results in assessing … corruption risks in public procurement and their impact on relative prices, using large databases on government contracts and … corruption risk factor (aggregated in a synthetic corruption risk index). While there are intrinsic limitations to our study …
Persistent link: https://www.econbiz.de/10014081633
the correlation of crypto-asset usage with indicators of corruption, capital controls, a history of high inflation, and … corruption and more intensive capital controls. Notwithstanding the data limitations, the results support the case for regulating …
Persistent link: https://www.econbiz.de/10013293932
Direct measurement of corruption is difficult due to its hidden nature, and measuring the perceptions of corruption via … countries by applying sentiment analysis to Financial Times articles over 2005–18. This sentiment-enhanced corruption perception … index (SECPI) captures not only the frequncy of corruption related articles, but also the articles’ sentiment towards …
Persistent link: https://www.econbiz.de/10013306771
In this paper we investigate whether better information about the macroeconomic environment of an economy has a positive impact on its capital inflows, namely portfolio and foreign direct investment (FDI). The purpose of our study is to explicitly quantify information asymmetries by compliance...
Persistent link: https://www.econbiz.de/10013098566
This paper presents a general approximation method for characterizing time-varying equilibrium portfolios in a two-country dynamic general equilibrium model. The method can be easily adapted to most dynamic general equilibrium models, it applies to environments in which markets are complete or...
Persistent link: https://www.econbiz.de/10012773141
Local currency government bonds (OFZ bonds) are an important fixed-income instrument in Russia's financial markets. In this paper, based on granular data, we explore the development of the OFZ bond market with a focus on foreign investors. As this fixed-income market has experienced a...
Persistent link: https://www.econbiz.de/10012960579