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Income and Democracy; Lipset's Law Revisited
Hoeffler, Anke; Bates, Robert H.; Fayad, Ghada - International Monetary Fund (IMF) - 2012
We revisit Lipset‘s law, which posits a positive and significant relationship between income and democracy. Using … democracy: higher/lower incomes per capita hinder/trigger democratization. Decomposing overall income per capita into its …
Persistent link: https://www.econbiz.de/10011242229
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Corruption and Military Spending
International Monetary Fund (IMF); International … - 2000
Anecdotal evidence relates corruption with high levels of military spending. This paper tests empirically whether such a relationship exists. The empirical analysis is based on data from four different sources for up to 120 countries in the period 1985–98. The association between military...
Persistent link: https://www.econbiz.de/10005599529
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Optimal Prudential Regulation of Banks and the Political Economy of Supervision
Tressel, Thierry; Verdier, Thierry - International Monetary Fund (IMF) - 2014
We consider a moral hazard economy in banks and production to study how incentives for risk taking are affected by the quality of supervision. We show that low interest rates may generate excessive risk taking. Because of a pecuniary externality, the market equilibrium may not be optimal and...
Persistent link: https://www.econbiz.de/10010790384
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Income and democracy : Lipset's law revisited
Fayad, Ghada; Bates, Robert H.; Hoeffler, Anke - 2012
We revisit Lipset?s law, which posits a positive and significant relationship between income and democracy. Using … democracy: higher/lower incomes per capita hinder/trigger democratization. Decomposing overall income per capita into its …
Persistent link: https://www.econbiz.de/10009679679
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A Model of Sovereign Debt in Democracies
Alichi, Ali - 2008
sovereign debt is to maintain access to international capital markets. However, in a democracy, one generation may choose …
Persistent link: https://www.econbiz.de/10012677458
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What Makes Growth Sustained?
Ostry, Jonathan David - 2008
We identify structural breaks in economic growth in 140 countries and use these to define ""growth spells:"" periods of high growth preceded by an upbreak and ending either with a downbreak or with the end of the sample. Growth spells tend to be shorter in African and Latin American countries...
Persistent link: https://www.econbiz.de/10012677563
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Geopolitics and International Trade: The Democracy Advantage
Cevik, Serhan - 2024
to the question by analyzing the joint impact of democracy and geopolitical distance between countries with an augmented … distance in determining bilateral trade flows and that democracy fosters international trade and moderates the potential … negative impact of geopolitics. While the impact of democracy and its interaction with geopolitical distance are significant …
Persistent link: https://www.econbiz.de/10015058709
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The Making of a Continental Financial System: Lessons for Europe from Early American History
Gaspar, Vitor - International Monetary Fund (IMF) - 2014
Alexander Hamilton was the first U.S. Treasury Secretary from 1789 to 1795. When he started, the Federal Government was in default. During his tenure, U.S. Treasuries became the ultimate safe asset. He successfully managed expectations, achieved debt service reduction, and stabilized financial...
Persistent link: https://www.econbiz.de/10010959479
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Beyond Macroeconomic Stability; The Quest for Industrialization in Uganda
Selassie, Abebe Aemro - International Monetary Fund (IMF) - 2008
Uganda has registered one of the most impressive economic turnarounds of recent decades. The amelioration of conflict and wide ranging economic reforms kick-started rapid economic growth that has now been sustained for some 20 years. But there is a strong sense in policy making circles that...
Persistent link: https://www.econbiz.de/10005248159
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When is Economic Growth Pro-Poor? Experiences in Malaysia and Pakistan
Khan, Mahmood Hasan - International Monetary Fund (IMF) - 2002
This paper focuses on two central issues related to the contrasting experiences of Malaysia and Pakistan regarding poverty reduction. First, it examines the structure of economic growth and its proximate determinants in the two countries, including the initial conditions, institutional changes,...
Persistent link: https://www.econbiz.de/10005248163