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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

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

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 … advanced member of WTO. If the experimentalist interpretation of China''s phenomenal growth is correct, then WTO membership is …

Persistent link: https://www.econbiz.de/10010318608

Rent seeking in hierachical firms

Epstein, Gil S.; Gang, Ira N. - 2002

Hierarchical firms are enterprises with rigid internal job ladders. We examine the state enterprise as the prototypical hierarchical firm. In the state enterprise, promotion of employees through the internal hierarchy is determined by the workers’ allocation of time between rent seeking and...

Persistent link: https://www.econbiz.de/10010318354

Co-movements of Shanghai and New York Stock Prices by Time-varying Regressions

Chow, Gregory C; Liu, Changjiang; Niu, Linlin - 2013

positive after 2002 when China entered WTO. The effect of current return of Shanghai on New York also becomes significantly …

Persistent link: https://www.econbiz.de/10011132895

Redistribution and Provision of Public Goods in an Economic Federation

Aronsson, Thomas; Blomquist, Sören - 2004

This paper concerns redistribution and provision of public goods in an economic federation with two levels of government: a local government in each locality and a central government for the economic federation as a whole. We assume that each locality is characterized by two ability-types (high...

Persistent link: https://www.econbiz.de/10010321575

Wage Bargaining, Privatisation, Ability to Pay, andOutside Options – Evidence from Hungary

Köllő, Janos; Mickiewicz, Tomasz - Centre for the Study of Economic and Social Change in … - 2004

This paper examines the determinants of short-term wage dynamics, using asample of large Hungarian companies for the period of 1996-1999. We test thebasic implications of an efficient contract model of bargaining between theincumbent employees and the managers, which we are unable to reject....

Persistent link: https://www.econbiz.de/10005868175

Ownership and Production Costs - Choosing Between Public Production and Contracting Out

Ohlsson, Henry - 1998

Many comparisons of the performance of public and private producers use a public/private ownership dummy variable to capture cost differences in cross section data. This is appropriate if the producer choice is random. The dummy variable model is, however, logically inconsistent if the producer...

Persistent link: https://www.econbiz.de/10010321722

Volunteering and the State

Hackl, Franz; Halla, Martin; Pruckner, Gerald J. - 2009

This paper explores the capability of the state to affect the individual's decision to work for free. For this purpose we combine individual-level data from the European and World Values Survey with macroeconomic and political variables for OECD member countries. Empirically we identify three...

Persistent link: https://www.econbiz.de/10010294897

Choice democracy

Ledoit, Olivier - 2011

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 party of his/her choice. Multiple full-edged...

Persistent link: https://www.econbiz.de/10010316842

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