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Sustainability of Public Debt and Budget Deficit: Panel cointegration analysis for the European Union Member countries

Prohl, Silika; Schneider, Friedrich G. - 2006

In this study, we analyse the sustainability of fiscal policy of EU member countries within the panel cointegration and error-correction frameworks. Unlike the previous empirical papers in this area, we apply the test for panel cointegration between the primary budget deficit and the public debt...

Persistent link: https://www.econbiz.de/10010294496

From contractors to investors? Evolving engagement of Chinese state capital in global infrastructure development and the case of Lekki Port in Nigeria

Zhang, Hong - 2023

This paper introduces and critically analyzes an emerging form of global infrastructure development by China …'s infrastructure construction companies, known as "integrated investment, construction, and operation" (IICO). This model has been … promoted by the Chinese infrastructure industry, financial institutions, and policymakers in recent years, as a response to the …

Persistent link: https://www.econbiz.de/10013556507

Institutions, infrastructure, and trade

Francois, Joseph F.; Manchin, Miriam - 2007

We work with a panel of bilateral trade flows from 1988 to 2002, exploring the influence of infrastructure … the institutions and infrastructure literature in this respect, using selection-based gravity modeling of trade flows. We … also depart from this literature by mixing principal components (to condense our institutional and infrastructure measures …

Persistent link: https://www.econbiz.de/10010294570

When Should an Incumbent Be Obliged to Share its Infrastructure with an Entrant Under the General Competition Rules?

Bergman, Mats - 2003

According to the essential facilities doctrine, competition law requires an infrastructural monopoly to provide access. Under the "Bronner criterion", proposed by the EC Court, the doctrine is only applicable when an infrastructural duopoly is non-viable. This paper uses a simple model to...

Persistent link: https://www.econbiz.de/10010321538

The conquest of South American inflation

Sargent, Thomas; Williams, Noah; Zha, Tao - 2006

We infer determinants of Latin American hyperinflations and stabilizations by using the method of maximum likelihood to estimate a hidden Markov model that potentially assigns roles both to fundamentals in the form of government deficits that are financed by money creation and to destabilizing...

Persistent link: https://www.econbiz.de/10010292362

Income Distribution and the Public-Private Mix in Health Care Provision: The Latin American Case

Maceira, Daniel - 1998

Recent literature on Latin American countries shows that private expenses as a share of the total expenditures in health tend to be higher the lower the nation`s level of economic development. This paper considers a discrete choice model of product differentiation, where consumer choice is based...

Persistent link: https://www.econbiz.de/10010327030

From social safety net to social policy? The role of conditional cash transfers in welfare state development in Latin America

Bastagli, Francesca - 2009

During the 1990s, conditional cash transfers (CCTs) were adopted by countries across Latin America as central elements of their poverty reduction strategies. Alongside other developments in the area of social assistance, CCTs represent an opportunity for countries to develop an integrated and...

Persistent link: https://www.econbiz.de/10010293307

Towards Effective Social Insurance in Latin America: The Importance of Countercyclical Fiscal Policy

Braun, Miguel; di Gresia, Luciano - 2003

Latin America is a volatile, crisis-prone region, with limited and inadequate social insurance. Therefore, the long-term as well as the recent poor suffer significantly during crises. Furthermore, social spending is procyclical in the region, but less so than total spending, indicating that the...

Persistent link: https://www.econbiz.de/10010327062

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

Discrimination in Latin America: An elephant in the room?

Chong, Alberto; Ñopo, Hugo - 2007

This paper surveys evidence on discrimination in Latin America and shows that there is a widespread perception of discrimination, especially against the poor, the uneducated and those who lack connections. The channels through which discrimination occurs may be built on the basis of economic...

Persistent link: https://www.econbiz.de/10010278236

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