-
作者：Roy, Jaideep; Chowdhury, Prabal Roy
作者单位：Indian Statistical Institute; Indian Statistical Institute Delhi; Brunel University
摘要：This paper examines public-private partnerships in micro-finance, whereby NGOs can help in channelizing credit to the poor, both in borrower selection, as well as in project implementation. We argue that a distortion may arise out of the fact that the private partner, i.e. the NGO, is a motivated agent. We find that whenever the project is neither too productive, nor too unproductive, reducing such distortion requires unbundling borrower selection and project implementation, with the NGO being...
-
作者：Liu, Haiyong; Mroz, Thomas; Adair, Linda
作者单位：Clemson University; University of North Carolina; East Carolina University; University of North Carolina; University of North Carolina Chapel Hill
摘要：A dynamic optimization model of parents choosing investments in their children's health motivates an empirical model of parents' choices of health inputs for their children and the impacts of these decisions on their children's subsequent health. Estimates of the child health input demand functions and the child health production functions from the Cebu Longitudinal Health and Nutrition Survey accord with the prediction that optimizing behavior results in higher levels of aggregate child healt...
-
作者：Joyce, Joseph P.; Nabar, Malhar
作者单位：Wellesley College
摘要：We evaluate whether financial openness leaves emerging market economies vulnerable to the adverse effects of capital reversals (sudden stops) on domestic investment. We investigate this claim in a broad sample of emerging markets during the period 1976-2002. If the banking sector does not experience a systemic crisis, sudden stop events fail to have a significant impact on investment. Bank crises, on the other hand, have a significant negative effect on investment even in the absence of a cont...
-
作者：Benigno, Pierpaolo
摘要：Recent studies have emphasized the role of valuation effects due to exchange rate movements in easing the process of adjustment of the external balance of a country. This paper asks to what extent valuation effects are desirable from a global perspective as a mean to achieve an efficient allocation of resources. In a frictionless world, it is desirable to have large movements in prices and exchange rates. But once a small degree of price rigidity is introduced not only should prices be stabili...
-
作者：Oster, Emily
作者单位：University of Chicago; National Bureau of Economic Research
摘要：Increases in access to social services are often thought to decrease inequality in the level of these services between advantaged and disadvantaged groups. This is an issue in the developing world, where policymakers often argue that increasing the level of health care, for example, will decrease gender inequality. However, increases in access to services often haven empirically ambigous effects in inequality, increasing it in some cases and decreasing it in others. This paper argues that this...
-
作者：Devereux, Michael B.; Sutherland, Alan
作者单位：University of British Columbia; University of British Columbia; University of St Andrews; University of St Andrews; Centre for Economic Policy Research - UK
摘要：Since the crises of the late 1990's, most emerging market economies have built up substantial positive holdings of US dollar treasury bills, while at the same time experiencing a boom in FDI capital inflows. This paper develops a DSGE model of the interaction between an emerging market economy and an advanced economy which incorporates two-way capital flows between the economies. The novel aspect of the paper is to make use of new methods for analyzing portfolio choice in DSGE models. We compa...
-
作者：Mishkin, Frederic S.
作者单位：Federal Reserve System - USA
摘要：This paper argues that globalization is a key factor in stimulating institutional reforms in developing countries that promote financial development and economic growth. Advanced countries can help in this process by supporting the opening of their markets to goods and services from emerging-market countries. By encouraging these countries to increase their participation in global markets, advanced countries can create exactly the right incentives for developing countries to implement the refo...
-
作者：Qin, Duo; Song, Haiyan
作者单位：University of London; Hong Kong Polytechnic University
摘要：This study attempts to measure the inefficiency associated with aggregate investment in a transitional economy. The inefficiency is decomposed into allocative and technical inefficiency based on standard production theory. Allocative inefficiency is measured by the deviation of actual investment from the theoretically desired investment demand. Institutional factors are then identified as part of the driving force of the deviation. The resulting model is applied to Chinese provincial panel dat...
-
作者：Levchenko, Andrei A.; Ranciere, Romain; Thoenig, Mathias
作者单位：University of Michigan System; University of Michigan; University of Geneva
摘要：This paper analyzes the effects of financial liberalization on growth and volatility at the industry level in a large sample of countries. We estimate the impact of liberalization on production, employment, firm entry, capital accumulation, and productivity. In order to overcome omitted variables concerns, we employ a number of alternative difference-in-differences estimation strategies. We implement a propensity score matching algorithm to find a control group for each liberalizing country. I...
-
作者：Lin, Shu; Ye, Haichun
作者单位：University of Colorado System; University of Colorado Denver; University of Colorado Anschutz Medical Campus; Children's Hospital Colorado
摘要：We evaluate the treatment effect of inflation targeting in thirteen developing countries that have adopted this policy by the end of 2004. Using a variety of propensity score matching methods, we show that, on average inflation targeting has large and significant effects on lowering both inflation and inflation variability in these thirteen countries. However, the effectiveness of inflation targeting on lowering inflation is found to be quite heterogeneous. The performance of a given inflation...
