Whether competition helps or hinders small firms' access to finance is in itself a much debated question in the economic literature and in policy circles, especially in the developing world. Economic theory offers conflicting predictions and empirical contributions provide mixed results. This...

Most of countries covered by natural forests are developing countries, with limited ability to levy taxes and restrained access to international credit markets; consequently, they are amenable to draw heavily on two sources of government financing, namely seigniorage and deforestation revenues....

The forest covers an important share of land area in many developing countries and represents an important source of revenue for governments. The other major contribution to government revenues in developing countries comes from printing money, namely the seigniorage. Using a simple theoretical...

In this paper, we analyze the interaction between corruption, taxation and economic growth. Our contributions are twofold. Theoretically, in an endogenous growth model, we introduce corruption in two different ways: corruption in the public expenditure and corruption in the public revenue. We...

This paper overcomes traditional political budget cycles models, focusing solely on the dynamics of the overall budget, in order to shed light on electoral composition changes in public spending. Using data on 42 developing countries from 1975 to 2001, we find evidence of electoral impacts on...

This paper analyses the finanical crisis of Asia in 1997, Russia and Brazil in 1998. It shows the importance of prudential régulations of the financial system, and concludes on the economic and systemic consequences of the crisis for the countries (developing and developed) and for the...

For several years, the conditionality underpinning budgetary support to developing countries has been the object of severe criticism. This criticism has led to the belief that the “ownership of policies” by the recipient country governments is essential for the effective implementation of...

This paper investigates the predictions of the theory of optimal seigniorage in developing countries over the period 1970-1999. The tax smoothing hypothesis, tested on forty selected developing countries, is rejected. However, the hypothesis that economies with high levels of expenditure and...

For several years, the conditionality underpinning budgetary support to developing countries has been the object of severe criticism. This criticism has led to the belief that the “ownership of policies” by the recipient country governments is essential for the effective implementation of...

The influence of trade openness on economic growth via budget balance is surprisingly neglected in the literature, particularly since the theoretical and empirical studies have provided a positive and robust relationship between budget balance and economic growth. In this paper, we provide...