Evidence suggests there is a strong tendency among states to choose fixed exchange rates. Yet he interpretation of fixed exchange rates as a monetary policy rule remains unconvincing. Adopting an endogenous policy perspective, this paper argues that political-support maximizing governments...

Der Beitrag analysiert die Geschichte der europäischen Währungsintegration aus politisch-ökonomischer Sicht. Es wird gezeigt, dass die Währungsunion weniger auf politische Faktoren als auf den Einfluss wichtiger wirtschaftlicher Interessengruppen zurückgeführt werden muss. Die Logik der...

Der Beitrag analysiert die Geschichte der europäischen Währungsintegration aus politisch-ökonomischer Sicht. Es wird gezeigt, dass die Währungsunion weniger auf politische Faktoren als auf den Einfluss wichtiger wirtschaftlicher Interessengruppen zurückgeführt werden muss. Die Logik der...

Evidence suggests there is a strong tendency among states to choose fixed exchange rates. Yet he interpretation of fixed exchange rates as a monetary policy rule remains unconvincing. Adopting an endogenous policy perspective, this paper argues that political-support maximizing governments...

Evidence suggests there is a strong tendency among states to choose fixed exchange rates. Yet he interpretation of fixed exchange rates as a monetary policy rule remains unconvincing. Adopting an endogenous policy perspective, this paper argues that political-support maximizing governments...

The paper explores the linkages between political risk, institutions and foreign direct investment inflows. Using different econometric techniques for a data sample of 83 developing countries and the period 1984 to 2003, we identify those indicators that matter most for the activities of...

Can process conditionality really enhance poverty reduction in developing countries? This question is addressed in the framework of a politico-economic model considering political distortions both on the recipient and on the donor side. It turns out that process conditionality is a very useful...

The paper compares different aid policy instruments and their effect on the target group. Starting from a situation where interest groups compete for the resources of the government, international financial institutions aim to change the policy outcome. They can either directly support one group...

Das Papier diskutiert die Ausgestaltung des EU Finanzsystems aus polit-ökonomischer Perspektive. Die jetzige Form der Umverteilung lässt sich aus ökonomischer Sicht nicht nachvollziehen; vielmehr kann dies als ein System von politischen Seitenzahlungen verstanden werden. Es wird argumentiert,...

The paper analyzes the relation between institutional quality, such as corruption, in a country and its monetary regime. It is shown that a credibly fixed exchange rate to a low inflation country, like a currency board, can reduce corruption and improve the fiscal system. A monetary union,...