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Democratization and Growth
Papaioannou, Elias; Siourounis, Gregorios - Department of Economics, University of Peloponnese - 2008
This paper challenges cross-sectional findings that democracy has a negligible effect on growth. We employ a new … countries that abandoned autocracy and consolidated representative institutions. The panel estimates imply that on average … development theories of democratic rule and Friedrich Hayek (1960)’s idea that the merits of democracy appear in the long run.. …
Persistent link: https://www.econbiz.de/10005636107
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The Consequences of Radical Reform: The French Revolution
Acemoglu, Daron; Cantoni, Davide; Johnson, Simon; … - C.E.P.R. Discussion Papers - 2009
notably, that evolved institutions are inherently superior to those 'designed'; that institutions must be 'appropriate' and … cannot be 'transplanted'; and that the civil code and other French institutions have adverse economic effects. …
Persistent link: https://www.econbiz.de/10005689633
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Uncertainty, power, institutions, and crisis: implications for economic analysis and the future of capitalism
Dutt, Amitava Krishna - In: Review of Keynesian Economics 3 (2015) 1, pp. 9-28
Persistent link: https://www.econbiz.de/10011159867
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Economic Backwardness in Political Perspective
Acemoglu, Daron; Robinson, James A - C.E.P.R. Discussion Papers - 2002
We construct a simple model where political elites may block technological and institutional development, because of a ‘political replacement effect.’ Innovations often erode elites’ incumbency advantage, increasing the likelihood that they will be replaced. Fearing replacement, political...
Persistent link: https://www.econbiz.de/10005124137
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Inflation and Disinflation in Turkey
Kibritçioğlu, Aykut; Rittenberg, Libby; Selçuk, Faruk; … - Deutsche Zentralbibliothek für …
financial markets, and imperfect though vibrant and wide-based democracy, Turkey is often cited as a development model for other …
Persistent link: https://www.econbiz.de/10011274966
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Empirical assessment of bifurcation regions within new Keynesian models
Barnett, William A.; Duzhak, Evgeniya A. - Volkswirtschaftliche Fakultät, … - 2008
As is well known in systems theory, the parameter space of most dynamic models is stratified into subsets, each of which supports a different kind of dynamic solution. Since we do not know the parameters with certainty, knowledge of the location of the bifurcation boundaries is of fundamental...
Persistent link: https://www.econbiz.de/10005836692
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Financial Markets and Economic Growth in Poland: Simulations with an Econometric Model
Wdowinski, Piotr - CESifo - 2005
In this paper we present simulations of economic performance of the Polish economy based on a quarterly econometric model. The model consists of 22 stochastic equations, which link the financial market with the real economy. The purpose of the research is to present effects of changes to...
Persistent link: https://www.econbiz.de/10005766248
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Do monetary Shocks Exert Nonlinear Real Effects on UK Industrial Production?
Holmes, Mark J.; Wang, Ping - In: Economia Internazionale / International Economics 55 (2002) 3, pp. 351-364
This study investigates whether or not UK industrial production is characterised by a nonlinear response to monetary shocks. Our methodology is based on logistic smooth transition vector autoregression modelling where we employ monthly data for the period January 1960 to August 1999. We find...
Persistent link: https://www.econbiz.de/10008482024
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A Macro-econometric Model for the Sudan Economy
Ahmed, Ahmed Elsheikh M.; Ibrahim, Omer Ali; Arabi, … - In: Review of Economics & Finance 3 (2013) February, pp. 110-122
This study aims at building a macro-econometric model for the Sudan economy mainly for the sole purpose of policy analysis. The model conforms to the previous attempts in relying on the conventional income-expenditure approach. However, it differs from them in certain aspects. It covers a rather...
Persistent link: https://www.econbiz.de/10010686082
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Unit-root and stationarity testing with empirical application on industrial production of CEE-4 countries
Lyócsa, Štefan; Výrost, Tomáš; Baumöhl, Eduard - Volkswirtschaftliche Fakultät, … - 2011
The purpose of this paper is to explain both the need and the procedures of unit-root testing to a wider audience. The topic of stationarity testing in general and unit root testing in particular is one that covers a vast amount of research. We have been discussing the problem in four different...
Persistent link: https://www.econbiz.de/10008871190