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Breaking the Curse of Sisyphus; An Empirical Analysis of Post-Conflict Economic Transitions
Cevik, Serhan; Rahmati, Mohammad - International Monetary Fund (IMF) - 2013
This paper provides a broad empirical analysis of the determinants of post-conflict economic transitions across the world during the period 1960–2010, using a dynamic panel estimation approach based on the system-generalized method of moments. In addition to an array of demographic,...
Persistent link: https://www.econbiz.de/10011242246
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The Macroprudential Framework; Policy Responsiveness and Institutional Arrangements
Lim, Cheng Hoon; Krznar, Ivo; Lipinsky, Fabian; Otani, Akira - International Monetary Fund (IMF) - 2013
This paper gauges if, and how, institutional arrangements are correlated with the use of macroprudential policy instruments. Using data from 39 countries, the paper evaluates policy response time in various types of institutional arrangements for macroprudential policy and finds that the...
Persistent link: https://www.econbiz.de/10011242316
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Middle East Transitions: A Long, Hard Road
Yusuf, Shahid - International Monetary Fund (IMF) - 2014
Since the onset of the Arab Spring, economic uncertainty in Egypt, Jordan, Libya, Morocco, Tunisia, and Yemen (Arab Countries in Transition, ACTs) has slowed already sluggish growth; worsened unemployment, particularly of youth; undermined business confidence, affected tourist arrivals, and...
Persistent link: https://www.econbiz.de/10011142081
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Reforming the Corporate Governance of Italian Banks
Jassaud, Nadège - International Monetary Fund (IMF) - 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 … improving their corporate governance, more needs to be done. In this regard, further improvements should include: (i …
Persistent link: https://www.econbiz.de/10010959465
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Ethnic Diversity, Democracy, and Corruption
Yehoue, Etienne B. - International Monetary Fund (IMF) - 2007
I study the link between ethnic diversity, democracy, and corruption. In a static model, I show that contrary to conventional wisdom, corruption might emerge as a negative externality of democracy. This occurs through ethnicity, which appears as a rent-extracting technology in a democratic...
Persistent link: https://www.econbiz.de/10005248127
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Financial Globalization and the Governance of Domestic Financial Intermediaries
Tressel, Thierry; Verdier, Thierry - International Monetary Fund (IMF) - 2007
the general equilibrium effects of capital flows (portfolio investments and loans, FDI) on the governance of domestic … banks. We find that liberalization of capital flows may deteriorate the governance of the domestic financial system by …
Persistent link: https://www.econbiz.de/10005248244
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Dynamic Incentives and the Optimal Delegation of Political Power
Borgne, Eric Le; Eggertsson, Gauti B. - International Monetary Fund (IMF) - 2007
This paper proposes a theory to explain why a politician delegates policy tasks to a technocrat in an independent institution. It formalizes the rationales for delegation highlighted by Hamilton (1788) and by Blinder (1998). Delegation trades-off the cost of having a possibly incompetent...
Persistent link: https://www.econbiz.de/10005263663
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Did Botswana Escape From the Resource Curse?
Iimi, Atsushi - International Monetary Fund (IMF) - 2006
resource abundance can contribute to growth. It finds that governance determines the extent to which the growth effects of … resource wealth can materialize. In developing countries in particular, the quality of regulation, such as the predictability …
Persistent link: https://www.econbiz.de/10005263757
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Monetary Policy and Corporate Behaviour in India
International Monetary Fund (IMF); International … - 2005
The paper examines the association and corporate behavior for a sample of manufacturing firms in India for the post-reform period 1992-2003. The findings suggest that a contractionary monetary policy lowers overall debt including bank debt, although the lagged response is positive, and listed...
Persistent link: https://www.econbiz.de/10005263785
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Big Government, High Debt, and Fiscal Adjustment in Small States
Ota, Rui; Cas, Stephanie Medina - International Monetary Fund (IMF) - 2008
restraint, can underpin growth, although sometimes other elements can also impact. Since better governance is associated with … lower debt, fiscal adjustment should be supported by governance improvements. …
Persistent link: https://www.econbiz.de/10005263886