Showing 1 - 10 of 292
, financial reforms that ended decades of financial repression, and a massive privatization program. We investigate the role … played by ideas, interests and institutions. More specifically, we examine the role played by the 'reform team' investigate …
Persistent link: https://www.econbiz.de/10012472294
capture, and then protect, these rents leads to the creation of new distortions, even as the reform process tries to move … governments throughout the economy sought to capture these rents by developing high margin industries. Continued reform, and …, leading local governments to impose a variety of interregional barriers to trade. Thus, the reform process led to the …
Persistent link: https://www.econbiz.de/10012470915
Starting in the late 1990s, China undertook a dramatic transformation of the large number of firms under state control. Small state-owned firms were privatized or closed. Large state-owned firms were corporatized and merged into large industrial groups under the control of the Chinese state. The...
Persistent link: https://www.econbiz.de/10012457662
feudal elite; withdrew its hand with a propitious mass privatization that rallied the private sector; marginalized an …
Persistent link: https://www.econbiz.de/10012465482
This paper argues that the key deep underlying fundamental for the growing international imbalances leading to the collapse of the Bretton Woods system between 1971 and 1973 was rising U.S. inflation since 1965. It was driven in turn by expansionary fiscal and monetary policies--the elephant in...
Persistent link: https://www.econbiz.de/10012481056
This paper describes interactions between monetary and fiscal policies that affect equilibrium price levels and interest rates by critically surveying theories about (a) optimal anticipated inflation, (b) optimal unanticipated inflation, and (c) conditions that secure a "nominal anchor'' in the...
Persistent link: https://www.econbiz.de/10012481961
The paper provides a survey of fiscal and monetary policies during the 1930s under the Hoover and Roosevelt Administrations and how they influenced the policies during the recent Great Recession. The discussion of the causal impacts of monetary policy focuses on papers written in the last decade...
Persistent link: https://www.econbiz.de/10012462180
We use a new firm-level dataset to examine the efficiency of investment in emerging economies. In the three-year period following stock market liberalizations, the growth rate of the typical firm's capital stock exceeds its pre-liberalization mean by an average of 5.4 percentage points....
Persistent link: https://www.econbiz.de/10012466482
producers in Egypt. Combined with detailed survey data, we causally identify the impact of exporting on firm performance …
Persistent link: https://www.econbiz.de/10012457976
We investigate how criminal organizations strategically use violence to influence elections in order to get captured politicians elected. The model offers novel testable implications about the use of pre-electoral violence under different types of electoral systems and different degrees of...
Persistent link: https://www.econbiz.de/10012456581