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Privatization in Austria: Some theoretical reasons and performance measures
Schneider, Friedrich; Belke, Ansgar - 2004
The issues of privatization (and sometimes deregulation) have been reviewed in a large literature on the various … aspects of privatization, that has emphasized the potential efficiency gains. Hence, we provide some theoretical reasoning why … privatization is useful as well as profitable for an economy and empirically present the extent of privatization in Austria and …
Persistent link: https://www.econbiz.de/10010294495
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Bank Ownership and Performance
Micco, Alejandro; Panizza, Ugo; Yañez, Mónica - 2004
This paper builds a new dataset on bank ownership and bank performance covering approximately 50,000 observations for 119 countries over the 1995-2002 period. The paper then uses the dataset to reassess the relationship between bank ownership and bank performance, providing separated estimations...
Persistent link: https://www.econbiz.de/10010327143
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Should the Government Be in the Banking Business? The Role of State-Owned and Development Banks
Yeyati, Eduardo Levy; Micco, Alejandro; Panizza, Ugo - 2004
This paper surveys the theoretical and empirical literature on the role of state-owned banks and also presents some new results and a robustness analysis. The paper shows that state-owned banks located in developing countries have fiscal costs because they are characterized by lower returns than...
Persistent link: https://www.econbiz.de/10010327147
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Feldstein's rhetoric of private retirement accounts
Avsar, Rojhat B. - 2008
. Martin Feldstein's pro-privatization rhetoric relative to Social Security is first analyzed. A subsequent comparison his … rhetoric to that of George W. Bush concludes that both the political and the economic rhetoric of Social Security privatization …
Persistent link: https://www.econbiz.de/10010288065
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Recent claims of China's economic exceptionalism: Reflections inspired by WTO accession
Woo, Wing Thye - 2001
The desirability of WTO membership for China depends on whether its economic successes have been the result of its discovery of new institutional forms (e.g. dual track pricing, SOE contracts, and fiscal contracts) that are optimal for China''s particular economic circumstances, or have been the...
Persistent link: https://www.econbiz.de/10010318608
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Words, deeds, and outcomes: A survey on the growth effects of exchange rate regimes
Harms, Philipp; Kretschmann, Marco - 2007
Recent studies on the growth effects of exchange rate regimes offer a wide range of different, sometimes contradictory results. In this paper, we systematically compare three prominent contributions in this field. Using a common data set, a common specification, and common estimation methods, we...
Persistent link: https://www.econbiz.de/10011430062
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Macroeconomic determinants of exit from aid-dependence
Hailu, Degol; Shiferaw, Admasu - 2012
This paper analyses macroeconomic aspects of exit from aid-dependence. By 'exit from aid', we mean substantial and enduring decline over time in Official Development Assistance (ODA) as a share of Gross Domestic Product (GDP). The relevant macroeconomic variables are identified by systematically...
Persistent link: https://www.econbiz.de/10010293266
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The impact of inflation targeting on unemployment in developing and emerging economies
Divino, Jose Angelo - 2009
Several countries around the world have adopted the inflation targeting regime for monetary policy. Despite the growing literature on the issue, it is not clear whether developing and emerging countries can improve their economic performance by adopting inflation targeting. This working paper...
Persistent link: https://www.econbiz.de/10010293308
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Solving consumption models with multiplicative habits
Carroll, Christopher D. - 2000
This paper provides derivations necessary for solving an optimal consumption problem with multiplicative habits and a CRRA 'outer' utility function either for a microeconomic problem with both labor income risk and rate-of-return risk or for a macroeoconomic representative agent model.
Persistent link: https://www.econbiz.de/10010293504
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Are crises good for long-term growth? The role of political institutions
Cavallo, Alberto F.; Cavallo, Eduardo A. - 2008
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