Showing 81 - 90 of 12,630
If rating agencies add no new information to markets, their actions are not a public policy concern. But as rating changes may be anticipated, testing whether ratings add value is not straightforward. This paper argues that ratings and spreads are both noisy signals of fundamentals and suggest...
Persistent link: https://www.econbiz.de/10010943731
This paper proposes a new taxonomy of Sudden Stops comprised of seven categories with definitions depending on the behavior of gross and net capital flows. The incidence of different types of Sudden Stops is tracked over time and the type of Sudden Stop related to economic performance. Sudden...
Persistent link: https://www.econbiz.de/10010943777
Several European countries face challenges reminiscent of those faced by the emerging economies of Latin America. The economic booms in some peripheral Euro-zone countries financed by large capital inflows; the credit and asset price booms and then the busts including Sudden Stops in capital...
Persistent link: https://www.econbiz.de/10010943779
This paper examines Official Development Assistance (ODA) in the aftermath of large natural disasters between 1970 and 2008. Using an event-study approach, the paper finds that while the median increase in ODA is 18 percent compared to pre-disaster flows, the typical surge is small in relation...
Persistent link: https://www.econbiz.de/10010943823
This paper provides empirical evidence for the importance of institutions in determining the outcome of crises on long-term growth. Once unobserved country-specific effects and other sources of endogeneity are accounted for, political institutions affect growth through their interaction with...
Persistent link: https://www.econbiz.de/10010943944
This paper examines the short and long-run average causal impact of catastrophic natural disasters on economic growth by combining information from comparative case studies. The counterfactual of the cases studied is assessed by constructing synthetic control groups, taking advantage of the fact...
Persistent link: https://www.econbiz.de/10010943971
This study explores the determinants of corporate bond spreads in emerging market economies. Using a largely unexploited dataset, the paper finds that corporate bond spreads are determined by firm-specific variables, bond characteristics, macroeconomic conditions, sovereign risk, and global...
Persistent link: https://www.econbiz.de/10010943987
This paper analyzes the impact of public investment on private investment in 116 developing countries between 1980 and 2006. It finds a strong crowding-out effect that seems to be the norm rather than the exception, both across regions and over time. This effect is dampened (or even reversed) in...
Persistent link: https://www.econbiz.de/10010944186
Natural disasters are by no means new, yet the evolving understanding of their relevance to economic development and growth is still in its infancy. This paper summarizes the state of the economic literature examining the aggregate impact of disasters. The paper reviews the main disaster data...
Persistent link: https://www.econbiz.de/10010944189
Catastrophes caused by natural disasters are by no means new, yet the evolving understanding of their relevance to economic development and growth is still in its infancy. In order to facilitate further necessary research on this topic, this paper summarizes the state of the economic literature...
Persistent link: https://www.econbiz.de/10008554074