How Does Political Instability Affect Economic Growth? PDF Download

Author: Mr.Ari Aisen
Publisher: International Monetary Fund
ISBN: 1455211907
Category : Business & Economics
Languages : en
Pages : 30

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Book Description
The purpose of this paper is to empirically determine the effects of political instability on economic growth. Using the system-GMM estimator for linear dynamic panel data models on a sample covering up to 169 countries, and 5-year periods from 1960 to 2004, we find that higher degrees of political instability are associated with lower growth rates of GDP per capita. Regarding the channels of transmission, we find that political instability adversely affects growth by lowering the rates of productivity growth and, to a smaller degree, physical and human capital accumulation. Finally, economic freedom and ethnic homogeneity are beneficial to growth, while democracy may have a small negative effect.

Author: Christopher Parsons
Publisher: Now Publishers Inc
ISBN: 160198202X
Category : Business & Economics
Languages : en
Pages : 107

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Book Description
Empirical Capital Structure reviews the empirical capital structure literature from both the cross-sectional determinants of capital structure as well as time-series changes.

Author: I. Hasan
Publisher: Elsevier
ISBN: 9780762310197
Category : Business & Economics
Languages : en
Pages : 446

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Book Description
This volume includes papers on topics related to efficiency issues in U.S. and European equity and options markets, as well as the productive efficiency of various types of depository financial institutions. In the capital market context, the book highlights the provisions of efficient trading services in the capital markets and the role of market size, concentration, quality, governance and automation of trading. In the banking perspectives, the volume presents topics related to market integration, dynamic models of bank production, regulatory closure rules for banking firms, risk based insurance premiums in banking, and the economics of the research and development in private firms.

Author: Joseph M. Berrospide
Publisher: DIANE Publishing
ISBN: 1437939864
Category : Business & Economics
Languages : en
Pages : 50

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Book Description
The effect of bank capital on lending is a critical determinant of the linkage between financial conditions and real activity, and has received especial attention in the recent financial crisis. The authors use panel-regression techniques to study the lending of large bank holding companies (BHCs) and find small effects of capital on lending. They then consider the effect of capital ratios on lending using a variant of Lown and Morgan's VAR model, and again find modest effects of bank capital ratio changes on lending. The authors¿ estimated models are then used to understand recent developments in bank lending and, in particular, to consider the role of TARP-related capital injections in affecting these developments. Illus. A print on demand pub.

Author: Mr.Jaromir Benes
Publisher: International Monetary Fund
ISBN: 1475505523
Category : Business & Economics
Languages : en
Pages : 71

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Book Description
At the height of the Great Depression a number of leading U.S. economists advanced a proposal for monetary reform that became known as the Chicago Plan. It envisaged the separation of the monetary and credit functions of the banking system, by requiring 100% reserve backing for deposits. Irving Fisher (1936) claimed the following advantages for this plan: (1) Much better control of a major source of business cycle fluctuations, sudden increases and contractions of bank credit and of the supply of bank-created money. (2) Complete elimination of bank runs. (3) Dramatic reduction of the (net) public debt. (4) Dramatic reduction of private debt, as money creation no longer requires simultaneous debt creation. We study these claims by embedding a comprehensive and carefully calibrated model of the banking system in a DSGE model of the U.S. economy. We find support for all four of Fisher's claims. Furthermore, output gains approach 10 percent, and steady state inflation can drop to zero without posing problems for the conduct of monetary policy.

Author: Nina Budina
Publisher: World Bank Publications
ISBN:
Category : Banks and Banking Reform
Languages : en
Pages : 30

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Book Description
"In Bulgaria and other transition economies, liquidity constraints and hence access to external funds must be seen in the context of soft budget constraints and the financial system's failure to enforce the efficient allocation of funds. Liquidity constraints in Bulgaria may be seen as a sign of financial weakness"--Cover.

Author: Klaus Hammes
Publisher: Department of Economics School of Economics and Commercial Law Go
ISBN:
Category : Capital investments
Languages : en
Pages : 188

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Book Description

Author: Mr.Andre Santos
Publisher: International Monetary Fund
ISBN: 147551008X
Category : Business & Economics
Languages : en
Pages : 43

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Book Description
Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience interested in economic policy issues. This Web-only series replaced Staff Position Notes in January 2011.

Author: Sanjiva Prasad
Publisher:
ISBN: 9781902518923
Category : Corporate governance
Languages : en
Pages : 0

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Book Description

Author: Ilya A. Strebulaev
Publisher: Now Pub
ISBN: 9781601985804
Category : Business & Economics
Languages : en
Pages : 174

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Book Description
The goals of this monograph are to explain the models and techniques and make it more accessible, introduce the main strands of this literature, and explain how dynamic models can be taken to the data and estimated, providing a guide to 3 methodologies: generalized method of moments, simulated method of moments, and maximum simulated likelihood.