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So far the discussion in Switzerland about the social costs and benefits of higher capital requirements resulting from the new Basel III Accord and the Swiss Too Big To Fail legislation has been heavily qualitative. This paper provides a quantitative view and estimates the long-run costs and...
Persistent link: https://www.econbiz.de/10011390676
Recent contributions to the empirical analysis of the relationship between financial system development and economic growth found that an exogenous component of financial system development causes economic growth, is a good predictor of growth and that its growth impact is relatively large. In...
Persistent link: https://www.econbiz.de/10010260676
Persistent link: https://www.econbiz.de/10011695911
We study economic growth in four emerging economies - Brazil, Russia, India, and China (BRIC). Questions addressed are: (a) How do medium term growth determinants differ from short term determinants? (b) What are differences between growth effects of aggregate versus disaggregated exports? And...
Persistent link: https://www.econbiz.de/10010326923
This paper provides a comprehensive empirical assessment of the relation between the cyclicality of fiscal policy, output volatility, and economic growth, using a large cross-section of 88 countries over the period 1960 to 2004. Identification of the effects of (endogenous) cyclical fiscal...
Persistent link: https://www.econbiz.de/10010264336
of good institutions (especially a high quality of regulation) can in part prevent this effect, which can be cautiously … institutions, these losses may be prevented or mitigated. …
Persistent link: https://www.econbiz.de/10010266684
variables, we find that (i) resource abundance, constitutions and institutions determine resource dependence, (ii) resource …
Persistent link: https://www.econbiz.de/10011753125
resource measure, using alternative measures of both resources and institutions, and by studying different time periods. While … institutions are good enough. …
Persistent link: https://www.econbiz.de/10010321368
This paper analyses the hypothesis that the robust relationship between trust - as measured by the World Values Survey …; Beugelsdijk, de Groot, & van Schaik, 2004; Dearmon & Grier, 2009) in fact captures the well-functioning of institutions. Our … of the estimated coefficient, when controling for the respondents' perceived well-functioning of institutions. While …
Persistent link: https://www.econbiz.de/10010286474
economic development. If the sociopolitical, legal and economic transformations in the Anglo-Saxon world in the last three … identification, they too narrowly defined what Northian institutions entail. As a matter of fact, political, legal and economic … institutions are highly malleable even in advanced economies, while sustained economic growth could well be deep rooted in …
Persistent link: https://www.econbiz.de/10010290007