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Oil Rents, Corruption, and State Stability; Evidence From Panel Data Regressions

International Monetary Fund (IMF); International … - 2009

We examine the effects of oil rents on corruption and state stability exploiting the exogenous within-country variation of a new measure of oil rents for a panel of 31 oil-exporting countries during the period 1992 to 2005. We find that an increase in oil rents significantly increases...

Persistent link: https://www.econbiz.de/10008497600

Aid and Growth; What Does the Cross-Country Evidence Really Show?

Rajan, Raghuram; Subramanian, Arvind - International Monetary Fund (IMF) - 2005

We examine the effects of aid on growth-- in cross-sectional and panel data--after correcting for the bias that aid typically goes to poorer countries, or to countries after poor performance. Even after this correction, we find little robust evidence of a positive (or negative) relationship...

Persistent link: https://www.econbiz.de/10005825602

Growth Determinants Revisited

Tsangarides, Charalambos G.; Mirestean, Alin - International Monetary Fund (IMF) - 2009

empirical findings suggest that once model uncertainty is accounted for there is strong evidence that initial income, investment …

Persistent link: https://www.econbiz.de/10008497604

Public Debt and Growth

Woo, Jaejoon; Kumar, Manmohan S. - International Monetary Fund (IMF) - 2010

reduced investment and slower growth of capital stock. …

Persistent link: https://www.econbiz.de/10008646412

Income and Democracy; Lipset's Law Revisited

Hoeffler, Anke; Bates, Robert H.; Fayad, Ghada - International Monetary Fund (IMF) - 2012

We revisit Lipsetâ€˜s law, which posits a positive and significant relationship between income and democracy. Using dynamic and heterogeneous panel data estimation techniques, we find a significant and negative relationship between income and democracy: higher/lower incomes per capita...

Persistent link: https://www.econbiz.de/10011242229

The Value of Institutions for Financial Markets; Evidence From Emerging Markets

Stratmann, Thomas; Akitoby, Bernardin - International Monetary Fund (IMF) - 2009

This paper investigates the value of political institutions for financial markets, using panel data from emerging market countries. We test the hypothesis that changes in political institutions, such as improvements in democratic rights and increased government accountability, have a direct...

Persistent link: https://www.econbiz.de/10005769291

The Distributional Bias of Public Education; Causes and Consequences

Gradstein, Mark; Dabla-Norris, Era - International Monetary Fund (IMF) - 2004

While public education is often intended to be progressive in its effects on income distribution, in reality its incidence is often skewed toward the rich. This paper argues that the extent of this bias is directly related to institutional weaknesses in governance. We present a simple dynamic...

Persistent link: https://www.econbiz.de/10005826262

The Political Economy of Seigniorage

Aisen, Ari; Veiga, Francisco José - International Monetary Fund (IMF) - 2005

While most economists agree that seigniorage is one way governments finance deficits, there is less agreement about the political, institutional, and economic reasons for relying on it. This paper investigates the main determinants of seigniorage using panel data on about 100 countries, for the...

Persistent link: https://www.econbiz.de/10005248308

Cashing in for Growth: Corporate Cash Holdings as an Opportunity for Investment in Japan

Sher, Galen - International Monetary Fund (IMF) - 2014

-sustaining growth based on private consumption and investment. This paper finds that Japanese nonfinancial firms have accumulated cash … at the expense of investment and dividends, hampering this transition. The evidence suggests that cash accumulation is … plays only a limited role. These firms have cash holdings available for investment of about 5 percent of GDP. Policy options …

Persistent link: https://www.econbiz.de/10011142082

Mauritius The Drivers of Growthâ€”Can the Past be Extended?

Svirydzenka, Katsiaryna; Petri, Martin - International Monetary Fund (IMF) - 2014

around 3Â¼ percent, but growth could reach 4-5 percent with strong pro-active policies including (i) improving investment and … savings rates; (ii) improving the efficiency of social spending and public enterprise reforms; (iii) investment in education …

Persistent link: https://www.econbiz.de/10011142138