In the development literature, there exists no systematic study of external borrowing in post-conflict countries. We address this gap by analyzing statistical and case study evidence from three African countries. We find that many war-affected countries face rising debt arrears and deteriorating...

The global financial crisis and the dramatic slump in private capital flows associated with it has particularly affected the economies of the Baltic countries. The real gross domestic product decreased in the first half of 2009 in Latvia by 18.8 percent, in Estonia by 15.7 percent and in...

Argentinien geriet im Januar 2002 nach der Aufhebung des Currency Board in eine tief greifende Währungskrise. Derartige Finanzkrisen gehen immer mit einer starken Verunsicherung internationaler Investoren und dem Abzug internationalen Kapitals einher. Dies zeigte sich insbesondere nach der...

Wenngleich sich die Nebel etwas gelichtet haben, ist doch die Sicht auf die weitere wirtschaftliche Entwicklung alles andere als klar. So schlummern im Finanzsektor aufgrund fauler "Wert"papiere noch Risiken in unbekannter Höhe, die Dank staatlich zugelassener Bilanzkosmetik noch nicht die...

Die globale Finanzkrise und der damit verbundene dramatische Einbruch der privaten Kapitalflüsse hat die Volkswirtschaften der baltischen Länder in besonderem Maße getroffen. Das reale Bruttoinlandsprodukt ist im ersten Halbjahr 2009 in Lettland um 18,8 Prozent, in Estland um 15,7 Prozent und...

Despite the fact that Argentina has been suffering from a recession for years, the timing and severity of the recent currency crisis surprised most observers. This paper analyzes the role of fundamentals and self-fulfilling speculation in the Argentinean crisis. Arguing within a theoretical...

Both crime and terrorism impose costs onto society through the channels of fear and worry. Identifying and targeting groups which are especially affected by worries might be one way to reduce the total costs of these two types of insecurity. However, compared to the drivers of the fear of crime,...

We analyse the convergence and heterogeneity of living standards between East and West Germany since unification. Based on data from the German Socio-Economic Panel (GSOEP), we compare total individual income of permanent adult residents, including retirees and the unemployed, of East and West...