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Market-Based Lobbying : Evidence from Advertising Spending in Italy
DellaVigna, Stefano - 2013
An extensive literature has studied lobbying by special interest groups. We analyze a novel lobbying channel: lobbying businessmen-politicians through business proxies. When a politician controls a business, firms attempting to curry favors shift their spending towards the politician's business....
Persistent link: https://www.econbiz.de/10013071306
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Courts and Relational Contracts
Johnson, Simon; McMillan, John; Woodruff, Christopher M. - 2021
Post-communist countries offer new evidence on the relative importance of courts and relationships in enforcing contracts. Belief in the effectiveness of courts has a significant positive effect on the level of trust shown in new relationships between firms and their customers. Well-functioning...
Persistent link: https://www.econbiz.de/10013224923
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Dynamic Supplier Contracts under Asymmetric Inventory Information
Zhang, Hao; Nagarajan, Mahesh; Sosic, Greys - 2010
the sequence of events is as follows. In a period, t, the supplier offers a contract to the retailer, and the retailer … excess inventory (we assume a lost sales model) to the next period. In period t 1, the supplier designs a new contract based … certain assumptions, we characterize and evaluate the supplier's optimal contract. To do so, we cast our problem as an adverse …
Persistent link: https://www.econbiz.de/10014047671
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Short-Term Loans and Long-Term Relationships : Relationship Lending in Early America
Bodenhorn, Howard - 2001
Recent banking theory holds that durable firm-bank relationships are valuable to both parties. Using contract …
Persistent link: https://www.econbiz.de/10012787535
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Rethinking the Effects of Financial Liberalization
Broner, Fernando - 2011
During the last few decades, many emerging markets have lifted restrictions on cross-border financial transactions. The conventional view was that this would allow these countries to: (i) receive capital inflows from advanced countries that would finance higher investment and growth; (ii) insure...
Persistent link: https://www.econbiz.de/10013132044
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Financial Sector Regulation and Reforms in Emerging Markets : An Overview
Prasad, Eswar S. - 2010
This paper provides an overview of the complex conceptual and practical challenges that emerging market economies face as they attempt to reform their frameworks for financial regulation. These economies are striving to balance the quest for financial stability with the imperatives of financial...
Persistent link: https://www.econbiz.de/10013137321
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Exchange Market Pressure and Absorption by International Reserves : Emerging Markets and Fear of Reserve Loss During the 2008-09 Crisis
Aizenman, Joshua - 2010
This paper evaluates how the global financial crisis emanating from the U.S. was transmitted to emerging markets. Our focus is on the extent that the crisis caused external market pressures (EMP), and whether the absorption of the shock was mainly through exchange rate depreciation or the loss...
Persistent link: https://www.econbiz.de/10013138399
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Emerging Local Currency Bond Markets
Burger, John D. - 2010
We assess the development of local currency bond markets in emerging market economies (EMEs). Supported by policies and laws that helped to improve macroeconomic stability and creditor rights, many local currency EME bond markets have grown substantially over the past decade and have also...
Persistent link: https://www.econbiz.de/10013139558
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Capital Inflows, Exchange Rate Flexibility, and Credit Booms
Magud, Nicolás E. - 2011
The prospects of expansionary monetary policies in the advanced countries for the foreseeable future have renewed the debate over policy options to cope with large capital inflows that are, at least partly, driven by low interest rates in the financial centers. Historically, capital flow...
Persistent link: https://www.econbiz.de/10013117393
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Abs Inflows to the United States and the Global Financial Crisis
Bertaut, Carol C. - 2011
The "global saving glut" (GSG) hypothesis argues that the surge in capital inflows from emerging market economies to the United States led to significant declines in long-term interest rates in the United States and other industrial economies. In turn, these lower interest rates, when combined...
Persistent link: https://www.econbiz.de/10013121035