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China's programme for inter-regional economic connectivity, the Belt and Road Initiative (BRI), will develop new trade routes and production chains linking predominantly developing world economies with the Chinese market, making a unique contribution to global economic development but disrupting...
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On 16th November 2009, SUERF, CEPS and the Belgian Financial Forum coorganized a conference "Crisis management at cross-roads" in Brussels. All papers in the present volume are based on contributions at the conference and the SUERF Annual Lecture which followed the event.
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This paper complements research on how love of wealth bears on key variables in a Ramsey-Cass-Koopmans growth framework. It is shown that for an optimum the social planner cannot have an excessive love of wealth. If the planner has the 'right' love of wealth an optimum exists and implies higher...
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We study the role of competition for the hold-up problem in foreign direct investment in resource-based industries. The … host country government is not only unable to commit not to expropriate investment ex post, but is also unable to commit to … higher investment levels, increases host countries revenues, but hurts profits of international investors. Domestic firms can …
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lending markets to charge higher rates on their SME customers. This crowded out firm investment. Perversely, fiscal … investment by around 30-40 bio euros per year (or 1 percent of GDP). Our findings identify a novel channel through which low …
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