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Local governments’ fiscal balance, privatization, and banking sector reform in transition countries
Crivelli, Ernesto - 2012
liberalization, privatization, and stabilization reforms. Theory predicts that decentralization may aggravate fiscal imbalances … over 19 years to address a central question of fact: Did privatization help to promote local governments' fiscal discipline …? The answer is clearly 'no' for privatization considered in isolation. However, privatization and subnational f …
Persistent link: https://www.econbiz.de/10009618582
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Pension Privatization and Country Risk
Cuevas, Alfredo - 2008
pension liabilities during the reform's transition period, a pension privatization reform may transform IPD int …
Persistent link: https://www.econbiz.de/10012677645
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What Do Remittances Do? Analyzing the Private Remittance Transmission Mechanism in El Salvador.
Nery Saca, Nolvia - 2006
Intro -- Contents -- I. INTRODUCTION -- II. BRIEF REVIEW OF RESEARCH ON EL SALVADOR'S RECEIPTS OF REMITTANCES -- III. STYLIZED FACTS OF EL SALVADOR'S ECONOMY, 1995-2004 -- IV. MODEL SPECIFICATION AND DATA ISSUES -- V. EMPIRICAL EVIDENCE: TRANSMISSION MECHANISM -- VI. CONCLUSIONS AND ECONOMIC...
Persistent link: https://www.econbiz.de/10012691067
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Tackling Private Over-Indebtedness in Asia : Economic and Legal Aspects
Garrido, Jose - 2020
One consequence of interest rates remaining 'too low for too long' since the Global Financial Crisis is the buildup in private leverage in emerging economies. These vulnerabilities have been laid bare by the COVID-19 shock. This paper employs the growth at risk framework (Adrian, Boyarchenko,...
Persistent link: https://www.econbiz.de/10014408871
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Evolution of debt sustainability analysis in low-income countries : some aggregate evidence
Baduel, Benedicte; Price, Robert W. - 2012
The Debt Sustainability Analysis (DSA) for low-income countries (LICs) is a standardized analytical tool to monitor debt sustainability. This paper uses DSAs from three periods around the time of the global economic crisis to analyze the projected trajectories of debt ratios for a sample of...
Persistent link: https://www.econbiz.de/10009618505
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Monetization in low- and middle-income countries
McLoughlin, Cameron; Kinoshita, Noriaki - 2012
The degree of an economy's monetization, which has an important implication on economic growth, can be affected by the conduct of monetary policy, financial sector reform, and episodes of financial crises. The paper finds that monetization--measured by the ratio of broad money to nominal GDP--...
Persistent link: https://www.econbiz.de/10009618525
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Public investment, growth, and debt sustainability : putting together the pieces
Buffie, Edward E.; Berg, Andrew; Pattillo, Catherine A.; … - 2012
We develop a model to study the macroeconomic effects of public investment surges in low-income countries, making explicit: (i) the investment-growth linkages; (ii) public external and domestic debt accumulation; (iii) the fiscal policy reactions necessary to ensure debt-sustainability; and (iv)...
Persistent link: https://www.econbiz.de/10009618586
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Financial intermediation costs in low-income countries : the role of regulatory, institutional, and macroeconomic factors
Poghosyan, Tigran - 2012
We analyze factors driving persistently higher financial intermediation costs in low-income countries (LICs) relative to emerging market (EMs) country comparators. Using the net interest margin as a proxy for financial intermediation costs at the bank level, we find that within LICs a...
Persistent link: https://www.econbiz.de/10009615784
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Tariff-tax reforms in large economies
Ganelli, Giovanni; Tervala, Juha - 2012
This paper studies tariff-tax reforms in a calibrated two-region global New Keynesian model composed of a developing and an advanced region. In our baseline calibration, a revenue-neutral reform that lowers tariffs in developing countries can reduce domestic welfare. The reason is that the...
Persistent link: https://www.econbiz.de/10009615785
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The Macroeconomics of Scaling Up Aid
Mongardini, Joannes - 2009
This paper assesses the macroeconomic implications of scaling up aid for Benin in line with the Gleneagles commitment to double aid to poor countries over the next three years to reach 85 per capita by 2010 and keep it at that level thereafter. The analysis suggests that the additional aid...
Persistent link: https://www.econbiz.de/10012677785