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Democratic Institutions and Environmental Quality: Effects and Transmission Channels

Kinda, Somlanare Romuald - 2011

effect through investments and income inequality. Indeed, democratic institutions attract investments that hurt environment …

Persistent link: https://www.econbiz.de/10010305640

In search of FDI-led growth in developing countries

Klasen, Stephan; Herzer, Dierk; Nowak-Lehmann D., Felicitas - 2007

This paper challenges the widespread belief that FDI generally has a positive impact on economic growth in developing … countries. It addresses the limitations of the existing literature and re-examines the FDI-led growth hypothesis for 28 … countries FDI has no statistically significant long-run impact on growth. In very few cases, FDI indeed contributes to economic …

Persistent link: https://www.econbiz.de/10010296028

Dynamic Effects of Foreign Direct Investment When Credit Markets are Imperfect

Gall, Thomas; Schiffbauer, Marc; Kubny, Julia - 2010

imperfect, the wealth distribution typically determines an economy's growth potential in autarky; hence, high exposure to …

Persistent link: https://www.econbiz.de/10010301543

An FDI is an FDI is an FDI? The growth effects of greenfield investment and mergers and acquisitions in developing countries

Harms, Philipp; Méon, Pierre-Guillaume - 2011

We explore the effect of foreign direct investment (FDI) on economic growth in developing countries, distinguishing … with respect to their influence on growth. While Greenfield FDI substantially enhances growth, M&As have no effect, at best … rate. The resulting loss in price competitiveness may explain the poor growth effect of the M&A variant of FDI. …

Persistent link: https://www.econbiz.de/10010305594

Malthus living in a slum: Urban concentration, infrastructures and economic growth

Castells-Quintana, David; Royuela, Vicente - 2014

urban environment - in particular the quality of urban infrastructure - strongly determine the growth-enhancing benefits of … and sanitation. Building on previous evidence on urban concentration and economic growth, in this paper we analyse … urban concentration (something that previous studies on urban concentration and economic growth have not considered …

Persistent link: https://www.econbiz.de/10011400141

Economic Development in Eastern Germany: History, Expectations, and Public Policy

Steger, Thomas M.; Schäfer, Andreas - 2010

Motivated by the process of economic development in Eastern Germany since the German reunification we set up a dynamic macroeconomic model of a small open economy where both capital and labor are mobile and there are increasing returns to scale at the aggregate level. The model features multiple...

Persistent link: https://www.econbiz.de/10010276783

The Dark Side of Fiscal Stimulus

Trimborn, Timo; Strulik, Holger - 2011

The output multiplier turns negative before a deficit spending program expires. We show the generality of this unpleasant finding for the standard real business cycle model. We then calibrate an extended model for the US and demonstrate how fiscal stimulus slows down economic recovery from...

Persistent link: https://www.econbiz.de/10010305960

Monetary policy, bank bailouts and the sovereign-bank risk nexus in the euro area

Rieth, Malte; Fratzscher, Marcel - 2014

The paper analyses the empirical relationship between bank risk and sovereign credit risk in the euro area. Using structural VAR with daily financial markets data for 2003-13, the analysis confirms two-way causality between shocks to sovereign risk and bank risk, with the former being overall...

Persistent link: https://www.econbiz.de/10010396801

Does austerity pay off?

Born, Benjamin; Müller, Gernot; Pfeifer, Johannes - 2014

Austerity measures are frequently enacted when the sustainability of public finances is in doubt. Such doubts are reflected in high sovereign yield spreads and put further strain on government finances. Is austerity successful in restoring market confidence, bringing about a reduction in yield...

Persistent link: https://www.econbiz.de/10010396816

Revisiting the Narrative Approach of Estimating Fiscal Multipliers

Hebous, Shafik; Zimmermann, Tom - 2014

results of our test suggest that none of the considered measures can be regressed directly on output growth. This finding …

Persistent link: https://www.econbiz.de/10010396882