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This paper examines the effect that windfalls from international commodity price booms have on net foreign assets in a panel of 145 countries during the period 1970-2007. The main finding is that windfalls from international commodity price booms lead to a significant increase in net foreign...
Persistent link: https://www.econbiz.de/10014397619
The paper investigates empirically the impact of ethnic heterogeneity on the amount of public spending on health and education and the quality, or “technical efficiency” of spending. While it finds partial evidence for the claim that more heterogeneous societies spend less on public goods,...
Persistent link: https://www.econbiz.de/10014399879
I study the link between ethnic diversity, democracy, and corruption. In a static model, I show that contrary to conventional wisdom, corruption might emerge as a negative externality of democracy. This occurs through ethnicity, which appears as a rent-extracting technology in a democratic...
Persistent link: https://www.econbiz.de/10014401255
effect on commodity prices. China’s impact on world commodity markets is rising but, perhaps surprisingly, remains smaller …Shocks to aggregate activity in China have a significant and persistent short-run impact on the price of oil and some … be more persistent and have larger effects on the rest of the world …
Persistent link: https://www.econbiz.de/10014396561
changes in China’s exchange rate policy in 2005 and 2010 and employing data on some 6,000 firms in 44 economies. Stock returns … market sentiment and specific trade effects. Expected renminbi appreciation has a positive effect on firms exporting to China … competing with China in their home market but fall for firms importing Chinese products with large imported-input content. There …
Persistent link: https://www.econbiz.de/10014399195
Persistent link: https://www.econbiz.de/10009424815
China's current account surplus has declined significantly from its peak in 2008 and the external position in 2018 was … moderation in goods surplus reflecting market saturation and China's faster growth compared with trading partners. Policies … and the financial system to handle more volatile capital flows. From a global perspective, the decline in China's surplus …
Persistent link: https://www.econbiz.de/10012154723
, which is not conducive to countering the impact of external shocks. We show that China's macroeconomic responses to external …
Persistent link: https://www.econbiz.de/10012613705
China’s high corporate savings rate is commonly claimed to be a key driver for the country’s large current account …
Persistent link: https://www.econbiz.de/10014402854
countries: Brazil, China, Indonesia, Poland, Malaysia, Mexico, and South Africa. We also find that foreign investor flows to …
Persistent link: https://www.econbiz.de/10014411133