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Persistent link: https://www.econbiz.de/10008904604
This paper studies the choice of the exchange rate regime in emerging and developing countries. The literature on exchange rate regimes is often based either on theoretical models or on empirical analysis. Our paper presents a different perspective by developing a theoretical model which is...
Persistent link: https://www.econbiz.de/10005056853
Firms use derivatives to achieve various stated goals ranging from enhancing risk management, alleviating under-investment, and information asymmetry, reducing the financial distress costs and tax burden, as well as maximizing firm value. Using a sample of 47,191 year-firm observations spanning...
Persistent link: https://www.econbiz.de/10013406117
Persistent link: https://www.econbiz.de/10014473209
This paper investigates the impact of political leaders' migration experience on the quality of their leadership. We build up an original database on the personal background of 932 politicians who were at the head of the executive power in a developing country over the 1960-2004 period. We put...
Persistent link: https://www.econbiz.de/10010738979
Over the past two decades, many countries have passed legislation giving more independence to their central banks. This institutional evolution has concerned several developed countries but also developing countries and, is consistent with the Barro and Gordon's theory of time-inconsistent...
Persistent link: https://www.econbiz.de/10008790402