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Macro-Fiscal Gains from Anti-Corruption Reforms in the Republic of Congo
Melina, Giovanni - 2019
This paper argues that oil revenue management and public investment in Congo are vulnerable to corruption as a result … of limited transparency and accountability. Corruption has potentially contributed to poor macro-fiscal outcomes. The … paper acknowledges the authorities' anti-corruption efforts made so far and proposes further critical reforms to reduce …
Persistent link: https://www.econbiz.de/10012867679
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When Do Politicians Appeal Broadly? The Economic Consequences of Electoral Rules in Brazil
Chin, Moya - 2022
their design can lead to the election of representatives who represent broader or narrower constituencies. Relying on a …
Persistent link: https://www.econbiz.de/10013306752
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Fiscal Policy Over the Election Cycle in Low-Income Countries
Ebeke, Christian - 2013
results indicate that during election years, government consumption significantly increases and leads to higher fiscal …
Persistent link: https://www.econbiz.de/10013079256
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Unpleasant Surprises? Elections and Tax News Shocks
David, Antonio C.; Sever, Can - 2023
announcements that are made during the pre-election periods, thereby leading to a lower likelihood of “tax news shocks”. We also …
Persistent link: https://www.econbiz.de/10014353562
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Electoral Cycles in Tax Reforms
David, Antonio C.; Sever, Can - 2022
in tax base and rate, and for various types of taxes. We also find that the pre-election decrease in the likelihood of …
Persistent link: https://www.econbiz.de/10014241939
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Fat-Tails and Their (Un)Happy Endings : Correlation Bias and its Implications for Systemic Risk and Prudential Regulation
Chan-Lau, Jorge A. - 2011
The correlation bias refers to the fact that claim subordination in the capital structure of the firm influences claim holders' preferred degree of asset correlation in portfolios held by the firm. Using the copula capital structure model, it is shown that the correlation bias shifts shareholder...
Persistent link: https://www.econbiz.de/10013128782
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Bank Debt in Europe 'Are Funding Models Broken'
Le Leslé, Vanessa - 2013
The crisis in Europe has underscored the vulnerability of European bank funding models compared to international peers. This paper studies the drivers behind this fragility and examines the future of bank funding, primarily wholesale, in Europe. We argue that cyclical and structural factors have...
Persistent link: https://www.econbiz.de/10013085997
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Reforming the Corporate Governance of Italian Banks
Jassaud, Nadege - 2014
Sound corporate governance is essential for a well-functioning banking system and the integrity of financial markets. The paper discusses the corporate governance of Italian banks, its regulatory framework, and the specific challenges arising from the role played by foundations and large...
Persistent link: https://www.econbiz.de/10013045259
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Stabilizing China's Housing Market
Koss, Richard - 2018
The sharp rise of house prices in China's Tier-1 cities has fostered a great deal of commentary about the possibility of bubbles forming there. However, China's unique housing market characteristics make it difficult to assess the macroeconomic severity of bursting bubbles, even if they exist....
Persistent link: https://www.econbiz.de/10012918551
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Revisiting Risk-Weighted Assets
Le Leslé, Vanessa - 2015
In this paper, we provide an overview of the concerns surrounding the variations in the calculation of risk-weighted assets (RWAs) across banks and jurisdictions and how this might undermine the Basel III capital adequacy framework. We discuss the key drivers behind the differences in these...
Persistent link: https://www.econbiz.de/10013036934