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Finance and welfare states in globalizing markets
Bertola, Giuseppe - 2007
It is theoretically clear and may be verified empirically that efficient financial markets can make it less necessary for policy to try and offset the welfare effects of labour income risk and unequal consumption dynamics. The literature has also pointed out that, since international competition...
Persistent link: https://www.econbiz.de/10010298380
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Ruling capital: Emerging markets and the reregulation of cross-border finance
Gallagher, Kevin - 2014
sovereignty to regulate cross-border finance under global economic governance institutions. …
Persistent link: https://www.econbiz.de/10011903331
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Investment climate and employment growth: the impact of access to finance, corruption and regulations across firms
Aterido, Reyes; Hallward-Driemeier, Mary; Pagés, Carmen - 2007
Using firm level data on 70,000 enterprises in 107 countries, this paper finds important effects of access to finance … systematically by firm types. Micro and small firms have less access to formal finance, pay more in bribes than do larger firms, and … downward the size distribution of firms. In the case of finance and business regulations this occurs by reducing the employment …
Persistent link: https://www.econbiz.de/10010268270
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Poolability and the finance-growth nexus: A cautionary note
Schiavo, Stefano; Vaona, Andrea - 2006
The present contribution tests whether countries can be pooled when studying the finance-growth nexus. Overall, our …
Persistent link: https://www.econbiz.de/10010273103
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Policy volatility and growth
Chong, Alberto; Gradstein, Mark - 2006
A growing body of recent macroeconomic evidence suggests that volatility is detrimental to economic growth. The channels through which volatility affects growth, however, are less clear; substantive evidence based on disaggregate data is almost non-existent. This paper offers a framework in...
Persistent link: https://www.econbiz.de/10010278247
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The Global Financial Crisis: Analysis and Policy Implications
Nanto, Dick K. - 2009
The world has entered a global recession that is causing widespread business contraction, increases in unemployment, and shrinking government revenues. The process for coping with the crisis by countries across the globe has been manifest in four basic phases. The first has been intervention to...
Persistent link: https://www.econbiz.de/10009482932
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Fiscal and Monetary Institutions in Central, Eastern and South-Eastern European Countries
Darvas, Zsolt; Kostyleva, Valentina - 2011
This paper studies the role of fiscal and monetary institutions in macroeconomic stability and budgetary control in central, eastern and south-eastern European countries (CESEE) in comparison with other OECD countries. CESEE countries tend to grow faster and have more volatile output than...
Persistent link: https://www.econbiz.de/10010124059
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Exchange Rate Policy and Economic Growth after the Financial Crisis in Central and Eastern Europe
Darvas, Zsolt - 2011
In a paper on the effects of the global financial crisis in Central and Eastern Europe (CEE), the author reacts to a paper of Åslund (2011) published in the same issue of Eurasian Geography and Economics on the influence of exchange rate policies on the region’s recovery. The author argues...
Persistent link: https://www.econbiz.de/10010124061
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Debt Restructuring in the Euro Area: a Necessary but Manageable Evil?
Darvas, Zsolt - 2011
There are two possible responses to the Greek debt crisis: ‘Plan A’, continued official lending, for as long as needed, with possible voluntary private sector involvement, and ‘Plan B’, coercive preemptive or post-default restructuring with significant face value reduction in...
Persistent link: https://www.econbiz.de/10010124062
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A Tale of Three Countries: Recovery after Banking Crises
Darvas, Zsolt - 2011
Highlights: • Iceland, Ireland and Latvia experienced similar developments before the crisis, such as sharp increases in banks’ balance sheets and the expansion of the construction sector. However the impact of the crisis was different: Latvia was hit harder than any other country in the...
Persistent link: https://www.econbiz.de/10010124064