Kurz vor der Bundestagswahl 2013 schwimmt Deutschland in den Augen der Ökonomen auf einer Welle der Euphorie: Kaum ein anderes Euroland hat die Finanz- und Schuldenkrise so gut gemeistert. Das deutsche Bruttoinlandsprodukt ist seit 2009 um mehr als acht Prozent gewachsen, es entstanden rund 1,2...

While many countries in the euro area are deep in recession due to a debt and structural crisis, the German economy appears to have excelled compared to many other euro area countries. Unemployment has fallen to the lowest level since German reunification, economic output has grown by over eight...

While many countries in the European Monetary Union are deep in recession due to a debt and structural crisis, the German economy appears to have excelled compared to many other euro area states. Unemployment has fallen to the lowest level since German reunification, economic output has grown by...

The Kisan Credit Card (KCC) scheme was introduced in India in 1998-1999 and has since become a flagship programme providing access to short-term credit in the agricultural sector. According to the Government of India, over a 100 million cards had been issued cumulatively by March 2011. Using...

The empirical literature finds mixed evidence on the existence of positive productivity externalities in the host country generated by foreign multinational companies. We propose a mechanism that emphasizes the role of local financial markets in enabling foreign direct investment (FDI) to...

We construct an overlapping generations model to study the effect of capital controls on human capital investments and the incidence of redistributive taxation in a growing economy. We argue that the conventional wisdom linking higher capital controls to lower growth is reproduced only when an...