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The global financial crisis: how similar? How different? How costly?

Claessens, Stijn; Kose, M. Ayhan; Terrones, Marco E. - 2010

This paper provides a brief analysis of three major questions raised in the context of the recent global financial crisis. First, how similar is the crisis to previous episodes? We argue that the crisis featured some close similarities to earlier ones, including the presence of credit and asset...

Persistent link: https://www.econbiz.de/10010273680

Financial regulation, integration and synchronization of economic activity

Kalemli-Özcan, Sebnem; Papaioannou, Elias; Peydró, … - 2010

We investigate the effect of financial integration on the degree of international business cycle synchronization. For identfication, we use a confidential database on banks' bilateral exposure over the past three decades and employ a novel bilateral country-pair panel instrumental vari- ables...

Persistent link: https://www.econbiz.de/10010273687

Progressive governance and globalisation: the agenda revisited

Pisani-Ferry, Jean - 2008

and magnitude of the transformation affecting the world economy are larger than initially envisaged, while domestic policy …

Persistent link: https://www.econbiz.de/10010273690

Financial-transaction tax: small is beautiful

Darvas, Zsolt; von Weizsäcker, Jakob - 2010

Resident Fellows Zsolt Darvas and Jakob von Weizsäcker wrote this paper on the pros and cons of a Financial Transaction Tax (FTT) following testimony von Weizsäcker gave for the Economic and Monetary Affairs Committee of the European Parliament. They argue that a small tax on financial...

Persistent link: https://www.econbiz.de/10010273693

Will the crisis trigger a revival of the IMF? Note based on remarks prepared for a panel organised by the Per Jacobsson Foundation in Washington, DC, on 12 October 2008

Pisani-Ferry, Jean - 2008

In this Policy Contribution, Jean Pisani-Ferry, takes a look at the way the IMF his gradually making its come-back from an era of crisis confidence and legitimacy. The author believes the Fund could gain a significant role as the key institution that links macroeconomic and financial...

Persistent link: https://www.econbiz.de/10010273701

Institutions and Development : The Interaction between Trade Regime and Political System

Falkinger, Josef; Grossmann, Volker - 2004

This paper argues that openness to goods trade in combination with an unequal distribution of political power has been a major determinant of the comparatively slow development of resource- or land-abundant regions like South America and the Caribbean in the nineteenth century. We develop a...

Persistent link: https://www.econbiz.de/10010273741

Does a generous welfare state crowd out student achievement?: panel data evidence from international student tests

Falch, Torberg; Fischer, Justina A. V. - 2008

Student achievement has been identified as important contributor to economic growth. This paper investigates the relationship between redistributive government activities and investment in human capital measured by student performance in international comparative tests in Mathematics and Science...

Persistent link: https://www.econbiz.de/10010273779

Measuring ethno-linguistic affinity between nations

de Groot, Olaf J. - 2009

Research on ethno-linguistic ties has so far mostly focused on domestic measures of ethno-linguistic heterogeneity. Little attention has been given to the possibility that ethno-linguistic relations between countries may affect out- comes, particularly in a spatial econometric context. In this...

Persistent link: https://www.econbiz.de/10010273791

Government decentralization as a disincentive for transnational terror? : an empirical analysis

Dreher, Axel; Fischer, Justina A. V. - 2009

Using panel data for a maximum of 109 countries over the years 1976-2000, we empirically analyze the impact of decentralization on the occurrence of transnational terror. Our results show that expenditure decentralization reduces the number of transnational terror events in a country, while...

Persistent link: https://www.econbiz.de/10010273794

Making world heritage truly global : the culture certificate scheme

Frey, Bruno S.; Pamini, Paolo - 2009

Culture has attributes of a global public good that needs to be preserved for mankind as a whole. World Culture … Certificates are proposed to efficiently preserve World Heritage. The community of nations has to agree on the Global Heritage List … and how much each nation is to contribute to that purpose. Each World Heritage site conserved is acknowledged through the …

Persistent link: https://www.econbiz.de/10010273803