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Do elites capture foreign aid? This paper documents that aid disbursements to highly aid-dependent countries coincide with sharp increases in bank deposits in offshore financial centers known for bank secrecy and private wealth management, but not in other financial centers. The estimates are...
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lobbying. For the U.S. financial crisis of 2007-09, this paper shows that lobbying activity intensified, driven by large firms … endogenous lobbying, the paper studies the aggregate consequences of this rise in lobbying activity. When calibrated to U ….S. micro data, the model generates an increase in lobbying that matches the magnitude and the cross-sector and within …
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