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Debt Relief and Adjustment Incentives : A Theoretical Exploration

International Monetary Fund - 1988

The purpose of this paper is to analyze the argument that debt relief would increase the incentive of a debtor country to make an adjustment effort (to invest) and that for this reason creditors may benefit by granting relief. It is shown that there are actually opposing incentive effects of...

Persistent link: https://www.econbiz.de/10014396170

An Incentive Approach to Identifying Financial System Vulnerabilities

Chai, Jingqing - 2000

This paper underscores the importance of the assessment of incentives of the main agents in a financial system as a key … diagnostic approach for the assessment of incentives. This approach highlights the need for additional research on the …

Persistent link: https://www.econbiz.de/10014400245

Do Tax Rates Encourage Entrepreneurial Activity?

Gordon, Roger H. - 1997

When the top personal tax rates are above the corporate rate, high-income individuals have an incentive to reclassify their earnings as corporate rather than personal income for tax purposes. U.S. tax law at least imposes strict limits on the extent to which employees in publicly traded...

Persistent link: https://www.econbiz.de/10014400644

Externalities. Incentives, and Economic Reforms

International Monetary Fund - 1990

The paper emphasizes the role of institutions and incentives in the presence of externalities. An economy with multiple … effective institutions exist for overcoming coordination failure. External financing may weaken incentives for adjustment over … that strengthen incentives to provide effort. Uncertainty regarding future taxes reduces present effort and the …

Persistent link: https://www.econbiz.de/10014396155

International trade and corporate market power

Gonzalez-Garcia, Jesus; Yang, Yuanchen - 2020

This paper examines the effect of international trade on corporate market power in emerging market economies and developing countries, with a special focus on sub-Saharan Africa. The analysis is based on a large firm-level dataset, tariff data by sector and agreggate indicators of international...

Persistent link: https://www.econbiz.de/10012299347

Optimal fiscal spending and reserve accumulation policies under volatile aid

Moldovan, Ioana R.; Yang, Shu-Chun S.; Zanna, Luis-Felipe - 2019

This paper assesses the optimal setting of fiscal spending and foreign exchange rate intervention policies in response to volatile foreign aid, in a small open economy model that incorporates typical features of low-income countries. Within a class of policy rules, it jointly considers the...

Persistent link: https://www.econbiz.de/10012102039

The minimum wage puzzle in less developed countries : reconciling theory and evidence

Adam, Christopher S.; Buffie, Edward F. - 2020

We show that a dynamic general equilibrium model with efficiency wages and endogenous capital accumulation in both the formal and (non-agricultural) informal sectors can explain the full range of confounding stylized facts associated with minimum wage laws in less developed countries

Persistent link: https://www.econbiz.de/10012170119

Can good governance lower financial intermediation costs?

Jarmuzek, Mariusz; Lybek, Tonny - 2018

This paper argues that better governance practices can reduce the costs, risks and uncertainty of financial intermediation. Our sample covers high-, middle- and low-income countries before and after the global financial crisis (GFC). We find that net interest margins of banks are lower if...

Persistent link: https://www.econbiz.de/10011978660

Collateral Damage : Exchange Controls and International Trade

Zhang, Zhiwei - 2007

While new conventional wisdom warns that developing countries should be aware of the risks of premature capital account liberalization, the costs of not removing exchange controls have received much less attention. This paper investigates the negative effects of exchange controls on trade. To...

Persistent link: https://www.econbiz.de/10014400231

A Debt Overhang Model for Low-Income Countries : Implications for Debt Relief

Koeda, Junko - 2006

The paper presents a theoretical model to explain how debt overhang is generated in low-income countries and discusses its implications for debt relief. The paper indicates that the extent of debt overhang, and the effectiveness of debt relief, would depend on a recipient country''s initial...

Persistent link: https://www.econbiz.de/10014400289

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