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Measures of corruption and income are highly correlated across countries. We use prehistoric measures of biogeography as instruments for modern income levels. We find that our instrumented incomes explain the cross-country pattern of corruption just as well as do actual incomes. This result...
Persistent link: https://www.econbiz.de/10010273171
Within the last decades, the share of government aid in overall external financial flows to developing countries has decreased. It is estimated that between 75 and 85% of all current financial flows to developing countries derive from a variety of private sources, including remittances,...
Persistent link: https://www.econbiz.de/10010273187
Do network theory really offer a suitable concept for the theorization of informal processes of economic regulation and institutional change? This working paper challenges both essentialist and skeptical attitudes to networks through an examination of the positive and negative effects of network...
Persistent link: https://www.econbiz.de/10010273194
Bono's Product (RED) initiative was created to raise awareness and money for The Global Fund to Fight AIDS, Tuberculosis and Malaria by teaming up with major corporations to market RED co-branded products. RED has been built upon the principle that 'hard commerce' can be an appropriate vector...
Persistent link: https://www.econbiz.de/10010273217
One of the most significant casualties of the recent fi nancial crisis has been the Basel II Accord, a set of proposals to regulate the international banking system drawn up by a committee of G10 banking supervisors between 1999 and 2004. Whether or not they view Basel II as a direct contributor...
Persistent link: https://www.econbiz.de/10010273229
This paper argues that the credit crunch is the result of a particular problem in the world financial system, that is …
Persistent link: https://www.econbiz.de/10010273232
The present discussions about the future of bank regulation, coming after a long period of bank deregulation, have a natural tendency to exaggerate the effectiveness of regulation. But those discussions are poorly rooted in the macroeconomic foundations of bank intermediation, including its...
Persistent link: https://www.econbiz.de/10010273233
Despite the global financial crisis and the prospect of severe economic recession, debates on future financial regulation take little if any notice of reasons why the previous regime of financial regulation failed so spectacularly. The paper identifies the key presumptions underlying efforts to...
Persistent link: https://www.econbiz.de/10010273264
countries, and to the experience of the International Finance Corporation (IFC) and the World Bank Group. …
Persistent link: https://www.econbiz.de/10010273268
- the International Monetary Fund (IMF), the International Bank for Reconstruction and Development (IBRD or World Bank) and … the General Agreement on Tariffs and Trade (GATT), precursor to the World Trade Organisation (WTO). Their rationale … reflected the experience of the Great Depression of the 1930s, when world output collapsed amidst a contraction of trade and …
Persistent link: https://www.econbiz.de/10010273269