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While illicit capital flight is a major concern of policy makers in developing countries, there is only little research on the possible link between capital flight and development aid. In this paper, we address the issue for Nepal, a stereotypical financially-closed developing economy that is...
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-linear relationship between technological innovation and trade. A natural extension of this research is to use a panel dataset to fully … innovation. In order to do so, in the present paper, we construct a panel dataset including data for 65 countries over the period …-linear relationship between the HDI and international trade in a panel data framework. …
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For the largest 55 German banks, we detect the presence of countercyclical yield seeking in the form of acquisition of high-yielding periphery bonds in the period from Q1 2008 to Q2 2011. This investment strategy is pursued by banks not subject to a bailout, banks characterised by high...
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We propose a small open economy model where agents borrow internationally and invest in liquid foreign assets to insure against liquidity shocks, which temporarily shut out the economy of short-term credit markets. Due to the presence of a pecuniary externality individual agents borrow too much...
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