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We develop a simple macroeconomic model that assesses the effects of higher foreign aid on output growth and other macroeconomic variables, including the real exchange rate. The model is easily tractable and requires estimation of only a few basic parameters. It takes into account the impact of...
Persistent link: https://www.econbiz.de/10014403185
We analyze the impact of trade policy uncertainty on investment in the euro area. Our identification strategy assumes … that countries that are relatively more dependent on global trade networks exhibit a higher sensitivity of investment with … respect to trade uncertainty. We find that the investment-to-GDP ratio is on average 0.8 percentage points lower for five …
Persistent link: https://www.econbiz.de/10011978678
This paper studies the aid allocation of European nongovernmental organizations (NGOs). Once population is controlled for, poverty consistently appears as the main worldwide determinant of NGO aid allocation. NGOs do not respond to strategic considerations. Their funding source does not seem to...
Persistent link: https://www.econbiz.de/10014402984
In this paper, we estimate the aggregate and sectoral fiscal multipliers of EU Structural Investment (ESI) Funds and of … public investment at the EU level. We complement these results with a specific application to the case of Slovenia. We first … analyze aggregate data and find large and significant multipliers and strong crowding-in of private investment. Our main …
Persistent link: https://www.econbiz.de/10012613691
result of low investment. Latin America is poorer because of lower human capital levels and lower TFP-not because of a lower … business climate indicators converge rapidly. Poor countries without those attributes do not. We show that low investment is …
Persistent link: https://www.econbiz.de/10012252005
In this paper I apply firm-level analysis to examine how the Brexit process has affected business investment in the UK …. An interaction term of potential trade costs after exiting the EU and a measure of firms' participation in global trade … had a considerable and statistically significant negative impact on firm investment in the UK after the referendum. At the …
Persistent link: https://www.econbiz.de/10011978381
Italy and provinces in Canada. Analyzing saving-investment correlations, and developing as well as fitting to the data a …
Persistent link: https://www.econbiz.de/10014403500
legacy of high debt or leverage. Models of corporate investment behavior based on imperfect capital markets predict that … highly leveraged balance sheets can act as a brake on investment spending. The paper''s empirical analysis suggests that … leverage effects on corporate investment can be substantial and persistent, particularly if leverage exceeds threshold values …
Persistent link: https://www.econbiz.de/10014403893
This paper extends recent work by Feldstein and Horioka (1980) and Bayoumi (1990), and examines saving-investment … non-EMS countries. It is seen that the EMS countries exhibit much lower saving-investment correlations than their non …
Persistent link: https://www.econbiz.de/10014396141
This paper studies the effect of demographic change on national saving, global interest rates, and international capital flows, focusing on the role of the public pension system. We develop a small open economy overlapping generations model to illustrate the channels through which demographic...
Persistent link: https://www.econbiz.de/10011978553