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The Case for Tradable Remedies in WTO Dispute Settlement
Bagwell, Kyle; Mavroidis, Petros C.; Staiger, Robert W. - 2013
In response to concerns over the efficacy of the WTO dispute settlement system, especially in regard to its use by …. The idea is that a country that has won cause before the WTO, and who is facing non-implementation by the author of the …, can auction off that right. The attractiveness of this idea is that it offers an additional possibility to injured WTO …
Persistent link: https://www.econbiz.de/10012559767
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Location Decisions of Foreign Banks and Competitive Advantage
Claessens, Stijn; Van Horen, Neeltje - 2012
While institutional differences have been found to affect country growth patterns, much has remained unexplained, including how economic actors "overcome" institutional weaknesses and how internationalization helps or hinders development. Banking is an institutionally-intensive activity and the...
Persistent link: https://www.econbiz.de/10012552564
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International Financial Integration through Equity Markets : Which Firms from Which Countries Go Global?
Claessens, Stijn; Schmukler, Sergio L. - 2012
equity, and cross-listing in major world stock markets. Using a large sample of 39,517 firms from 111 countries covering the …
Persistent link: https://www.econbiz.de/10012552596
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Current Challenges in Financial Regulation
Claessens, Stijn - 2012
Financial intermediation and financial services industries have undergone many changes in the past two decades due to deregulation, globalization, and technological advances. The framework for regulating finance has seen many changes as well, with approaches adapting to new issues arising in...
Persistent link: https://www.econbiz.de/10012553921
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Financial Dependence, Banking Sector Competition, and Economic Growth
Claessens, Stijn; Laeven, Luc - 2012
The relationships among competition in the financial sector, access of firms to external financing, and associated economic growth are ambiguous in theory. Moreover, measuring competition in the financial sector can be complex. In this paper the authors first estimate for 16 countries a measure...
Persistent link: https://www.econbiz.de/10012553941
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Explaining the Migration of Stocks from Exchanges in Emerging Economies to International Centers
Claessens, Stijn; Klingebiel, Daniela; Schmukler, Sergio L. - 2013
The authors study the determinants of the growing migration of stock market activity to international financial centers. They use a sample of 77 countries and document that higher economic growth and more macroeconomic stability help stock market development. Countries with higher income per...
Persistent link: https://www.econbiz.de/10012559577
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Bankruptcy Around the World : Explanations of its Relative Use
Claessens, Stijn; Klapper, Leora F. - 2013
The recent literature on law and finance has drawn attention to the importance of creditor rights in influencing the development of financial systems and in affecting firm corporate governance and financing patterns. Recent financial crises have also highlighted the importance of insolvency...
Persistent link: https://www.econbiz.de/10012559623