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The volatility of exchange rates is considered to be an important measure of a country's economic vulnerability and has a direct or indirect causal relationship with a large number of macroeconomic variables. The aim of this study is to analyze the macroeconomic variables in the economic...
Persistent link: https://www.econbiz.de/10015375479
Does foreign aid enhance aggregate human welfare? This paper attempts to answer this question by using a panel of twenty-eight countries, covering the period from 1990 to 2014. It explores intra country variation by splitting the sample into low-income and middle-income countries. Combined with...
Persistent link: https://www.econbiz.de/10012908253
The aim of this paper is to examine the effect of financial development on economic growth volatility in a sample of 50 developing countries from 1960 to 2016. Since previous studies on such association provide mixed and inconclusive results, we employ a semi-parametric panel fixed-effects...
Persistent link: https://www.econbiz.de/10012929960
Revenues from taxation gain importance to finance economic development in sub-Saharan Africa. Extortion of bribes by public officials can provide one obstacle for tax compliance. This paper uses micro-level data from the Afrobarometer to analyse how petty corruption erodes tax morale. A...
Persistent link: https://www.econbiz.de/10011588935
We propose a new measure of inter-industry ‘distance'. This is constructed a la Antras et al. (2012). While they measure the distance of an industry from its final use - what they call ‘downstreamness' of an industry - we measure the distance between a pair of industries. Our proposed index...
Persistent link: https://www.econbiz.de/10012965232
This paper analyzes the relation between firms' leverage, financial development and firm-level characteristics. I find financial development, measured as stock market turnover ratio or stock market capitalization, is negatively related to firm leverage while financial development, measured as...
Persistent link: https://www.econbiz.de/10012956560
This paper turns the static Engel Curve model of consumption into a dynamic interactive theory of growth. It explains why some countries remain trapped in the vicious circle of low income and low consumption, and works out how some others can move to higher income ground. Thrifty consumption and...
Persistent link: https://www.econbiz.de/10013022747
The past literature found evidence for the presence of endogeneity issues due to individuals' heterogeneity and omitted time-varying variables in the relationship between income and life satisfaction on the micro-level for the UK (Powdthavee (2010)). The aim of the present contribution is to put...
Persistent link: https://www.econbiz.de/10013081364
We develop a procedure to estimate production functions, elasticities of demand, and productivity when firms endogenously select into multiple destination markets where they compete imperfectly, and when researchers observe output denominated only in value. We show that ignoring the...
Persistent link: https://www.econbiz.de/10014384034
The past literature found evidence for the presence of endogeneity issues due to individuals' heterogeneity and omitted time-varying variables in the relationship between income and life satisfaction on the micro-level for the UK (Powdthavee (2010)). The aim of the present contribution is to put...
Persistent link: https://www.econbiz.de/10009744589