Showing 1 - 10 of 29
This paper provides empirical evidence for the importance of institutions in determining the outcome of crises on long-term growth. Once unobserved country-specific effects and other sources of endogeneity are accounted for, political institutions affect growth through their interaction with...
Persistent link: https://www.econbiz.de/10010278293
This paper evaluates the sustainability of large current account imbalances in the era when the Chinese GDP growth rate and current account/GDP exceed 10%. We investigate the size distribution and the durability of current account deficits during 1966-2005, and report the results of a simulation...
Persistent link: https://www.econbiz.de/10010322714
. We find that emigration and human capital both increase democracy and economic freedom. This implies that unskilled …
Persistent link: https://www.econbiz.de/10010336024
individuals and the prevailing unemployment rate in the country impact perceptions of the effectiveness of democracy. We find that … personal joblessness experience translates into negative opinions about the effectiveness of democracy, and it increases the … year is the main source of the impact. Joblessness-related negative attitude towards the effectiveness of democracy is not …
Persistent link: https://www.econbiz.de/10010275894
This paper examines the causal link between education and democracy. Motivated by a model whereby educated individuals … are in a better position to assess the effects of public policies and hence favor democracy where their opinions matter … results hold across countries with different levels of democracy, thus rejecting the hypothesis that indoctrination through …
Persistent link: https://www.econbiz.de/10010278288
Democracy is defined by two core tenets: voice and pluralism. Within these constraints, a wide variety of regime types … can be designed. We show that the only new, untested form of democracy is when every citizen is governed by the political … one sovereign only over the people who chose to vote for it - hence the name: Choice Democracy. Choice Democracy can be …
Persistent link: https://www.econbiz.de/10010316842
non-hostile country. The result is a non-monotonic relationship between democracy and peace. Using the Polity IV dataset …
Persistent link: https://www.econbiz.de/10010282868
Foreign currency debt is widely believed to increase risks of financial crisis, especially after being implicated as a cause of the East Asian crisis in the late 1990s. In this paper, we study the effects of foreign currency debt on currency and debt crises and its indirect effects on short-term...
Persistent link: https://www.econbiz.de/10010282106
This article investigates the effects of macroeconomic policy (monetary and fiscal) on output growth during financial crises characterized by a sudden stop" in net capital inflows in developing and emerging market economies. We investigate 83 sudden stop crises in 77 countries over 1982-2003...
Persistent link: https://www.econbiz.de/10010285311
In this paper we explore lessons from the global liquidity crisis pertaining to the prudential supervision role of central bank in an open economy. The narrow view of the role of central banks has been seriously challenged by the global liquidity crisis of 2008-9. The crisis validates central...
Persistent link: https://www.econbiz.de/10010287746