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This paper investigates how multinational firms choose the capital structure of their foreign affiliates in response to political risk. We focus on two choice variables, the leverage and the ownership structure of the foreign affiliate, and we distinguish different types of political risk, such...
Persistent link: https://www.econbiz.de/10013135755
corruption' and 'political stability' of the countries in which these institutions operate. We adopt two different approaches - a …
Persistent link: https://www.econbiz.de/10013117452
Corruption is thought to prevent poor countries from catching-up. We analyze one channel through which corruption …-seeking. At equilibrium, the intensity of corruption and the structure of public investment are determined by the predatory … without corruption in which there is no effective corruption yet still the possibility of corruption distorts the allocation …
Persistent link: https://www.econbiz.de/10012730510
This paper examines the reasons why corruption and policy distortions tend to exhibit a high degree of persistence in … eliminate corruption. The analysis predicts that in politically unstable regimes the institutions necessary to monitor and … enforce compliance are weak. In such countries corruption is more pervasive and the compliance with regulations is low. The …
Persistent link: https://www.econbiz.de/10012782668
This paper examines the effect of corruption control and political stability on illicit financial outflows in Sub … increase in political stability and corruption control reduce illicit financial outflow due to misinvoicing in merchandise … institutions responsible for fighting corruption and enhancing stable governance are well empowered and given the needed resources …
Persistent link: https://www.econbiz.de/10012911058
This paper empirically investigates the relationship between corruption, political instability and economic growth. We … of the Arab Spring, as an exogenous shock, to measure the short-term effects of political shocks on corruption levels …
Persistent link: https://www.econbiz.de/10012912082
Large-scale systemic state capture, which is the root of widespread corruption, is acquiring such proportions in Serbia … in Serbia today. The author concludes with policy options and recommendations to help curb corruption, address the deep …
Persistent link: https://www.econbiz.de/10012765037