Showing 1 - 10 of 261
Africa's recent growth performance has raised expectations of a bright economic future for the continent after decades … of decline. Yet there is a genuine question about whether Africa's growth can be sustained, and if so, at what level. The … industrialization, seem to be operating at less than full power. If African countries do achieve growth rates substantially higher, they …
Persistent link: https://www.econbiz.de/10013052685
During World War II the Allies controlled Spain's oil supply in order to limit Spain's support for the Axis. This experiment with sanctions is unusually informative because a wide range of policies was tried over a long period. Three episodes are of special interest: (1) a total embargo on oil...
Persistent link: https://www.econbiz.de/10012780125
Illegal arms are responsible for thousands of deaths in civil wars every year. Yet, their trade is very hard to detect. We propose a method to statistically detect illegal arms trade based on the investor knowledge embedded in financial markets. We focus on eight countries under UN arms embargo...
Persistent link: https://www.econbiz.de/10012759887
The United States came close to complete autarky in 1808 as a result of a self-imposed embargo on international shipping from December 1807 to March 1809. Monthly prices of exported and imported goods reveal the embargo's striking effect on commodity markets and allow a calculation of its...
Persistent link: https://www.econbiz.de/10013235595
get inside the black box of the lobbying process and inform our understanding of the relative importance of these two … views of lobbying. We exploit multiple sources of data covering the period 1999 to 2008, including: federal lobbying … lobbying does not fit the data well. Instead, maintaining connections to politicians appears central to what lobbyists do. In …
Persistent link: https://www.econbiz.de/10013130552
We demonstrate that personal connections amongst politicians have a significant impact on the voting behavior of U.S. politicians. Networks based on alumni connections between politicians, as well as common seat locations on the chamber floor, are consistent predictors of voting behavior. For...
Persistent link: https://www.econbiz.de/10013137309
In democracies, trade policy is the result of interactions among many agents with different agendas. In accordance with this observation, we construct a dynamic model of legislative trade policy-making in the realm of distributive politics. An economy consists of different sectors, each of which...
Persistent link: https://www.econbiz.de/10013121949
Has lobbying by financial institutions contributed to the financial crisis? This paper uses detailed information on … financial institutions' lobbying and mortgage lending activities to answer this question. We find that lobbying was associated … with more risk-taking during 2000-07 and with worse outcomes in 2008. In particular, lenders lobbying more intensively on …
Persistent link: https://www.econbiz.de/10013124842
In many cultures and industries gifts are given in order to influence the recipient, often at the expense of a third party. Examples include business gifts of firms and lobbyists. In a series of experiments, we show that, even without incentive or informational effects, small gifts strongly...
Persistent link: https://www.econbiz.de/10013097778
In this paper we demonstrate that legislation has a simple, yet previously undetected impact on firm stock prices. While it is understood that the government and firms have an important relationship, it remains difficult to determine which firms any given piece of legislation will affect, and...
Persistent link: https://www.econbiz.de/10013102187