Based on a sample of 38 emerging countries, we find that inflation targeting (IT) adoption improves sovereign debt risk. However, we show that IT adoption effectiveness is sensitive to several structural characteristics, such as the phase of the business cycle, the fiscal stance, and the level...

Improving access to capital through credit and public spendings is an important step toward development and poverty alleviation. At the same time, deforestation-related activities, like agricultural expansion, can be seen as relying on natural capital, through the depletion of forest resources...

Most of countries covered by natural forests are developing countries, with limited ability to levy taxes and restrained access to international credit markets; consequently, they are amenable to draw heavily on two sources of government financing, namely seigniorage and deforestation revenues....

Protected areas are increasingly used as a tool to fight against deforestation. This paper presents new evidence on the spillover effects that occur in the decision to deforest and the creation of protected areas in local administrative entities in Brazilian Legal Amazon over the 2001-2011...

This paper examines the so-popular anecdote according to which pro-cyclical fiscal policies are due to pro-cyclical behavior of financing. We address the question of whether or not pro-cyclical aid leads to pro-cyclical fiscal policies in SSA recipient countries. We employed panel data...

This paper aims at assessing the determinants of Amazon deforestation, with an emphasis on the role played by off-farm income. We first present a microeconomic model which relates off-farm income to deforestation patterns. We then test the empirical implications by using data on the 2006...

This paper analyzes the impact of capital inflows and the exchange rate regime on the real effective exchange rate. A wide range of developing countries (42 countries) is considered with estimation based on panel cointegration techniques. The results show that both public and private inflows...

The aim of this paper is to highlight an aspect of devaluation that is generally ignored in the literature, namely, its positive impact on domestic trade. We develop a parity bounds model for cattle markets of Burkina Faso with two regimes of prices, autarkic and integrated, consistent with...

The evolution of regional policy between the Mao era and the Deng era generated much debate concerning inter-provincial disparities and the trade-off between efficiency and equity. The aim of this paper is to explore the existence of regional growth spillover effects looked for Deng’s policy....

In this paper, we analyze the relationship between corruption and public revenues. An empirical investigation of panel data (125 countries and covering the period 1980-2002) makes it possible not to reject the hypothesis that corruption has a negative effect on public revenues collection....