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作者：Kaminsky, GL; Reinhart, CM
作者单位：International Monetary Fund; George Washington University
摘要：In this paper, we examine which markets are most synchronized internationally and exhibit the greater extent of co-movement. We focus on daily data for four asset markets: bonds, equities, foreign exchange, and domestic money market. Our sample covers 35 developed and emerging market countries during 1997-1999. The extent of co-movement and responsiveness to external shocks is examined in different ways. To measure the response of these markets to adverse external shocks, we date the peaks in ...
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作者：Bedi, AS; Edwards, JHY
作者单位：Tulane University
摘要：The expansion of education has been widely adopted as a key element in the development strategies of low-income countries. While there is substantial evidence on the benefits of greater educational attainment for subsequent labor market earnings, empirical evidence on the role played by school quality is scarce. This paper combines household survey data with unique data on school quality, from Honduras, to study the importance of school quality as a determinant of earnings. Our objective measu...
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作者：Robertson, R; Dutkowsky, DH
作者单位：Macalester College; Syracuse University
摘要：Rodrik [Rodrik, D., 1997. Has Globalization Gone Too Far? Institute for International Economics, Washington, DC.] argues that firms use the threat of moving to low-cost (generally developing) markets to make employment more flexible at home. Although a large literature documents significant adjustment costs in developed countries, we know little about their size and importance in developing countries that receive capital. We employ monthly Mexican data from the GATT-NAFTA period to estimate ad...
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作者：Jeong, B
作者单位：Czech Academy of Sciences; Economics Institute of the Czech Academy of Sciences; Charles University Prague; Czech Academy of Sciences
摘要：I propose the aggregate output divided by the wage rate of an industrial laborer in a country as a measure of the aggregate human capital input for that country. I use this method to compare the human capital inputs for 45 countries of diverse output levels. I find that human capital input differs between the lowest-income and the highest-income countries by a factor of 2.2 or 2.8, depending on the inclusion of outlier countries. This is significant but small relative to the results from the m...
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作者：Block, SA
作者单位：Tufts University
摘要：This paper presents cross-country evidence that political business cycles are alive and well in the nascent democracies of the developing world. Africa provides fertile ground for the study of political business cycles. This paper uncovers systematic electorally timed interventions in five monetary and four fiscal policy variables in a panel of African countries. These findings are consistent with the predictions of rational opportunistic political business cycle theory. If Africa's increasing...
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作者：Gyimah-Brempong, K; Karikari, JA
作者单位：State University System of Florida; University of South Florida
摘要：This paper uses a two-equation model, panel data from African countries during the 1992-1996 period and a dynamic panel estimator to investigate cost shifting in international telephone calls between these African countries and the US. Using call minutes as the dependent variable, we find that callers in African countries engage in cost shifting while their US counterparts do not. We also find that while US callers reciprocate call minutes from African countries to the US, callers in Africa do...
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作者：Greenaway, D; Morgan, W; Wright, P
作者单位：University of Nottingham
摘要：Trade liberalisation in developing countries over the last 20 years has often been implemented with the expectation of growth being stimulated; yet the evidence on its growth enhancing effects is mixed. This paper argues that problems with mis-specification and the diversity of liberalisation indices used are in part responsible for the inconclusiveness. Using a dynamic panel framework and three different indicators of liberalisation, the paper finds that liberalisation does appear to impact u...
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作者：Dustmann, C; Kirchkamp, O
作者单位：University of London; University College London; University of Mannheim
摘要：If migrants return to their origin countries, two questions arise which are of immediate economic interest for both immigration and emigration country: what determines their optimal migration duration, and what are the activities migrants choose after a return. Little research has been devoted to these two issues. This paper utilises a unique survey data set which records activities of returned migrants. We first illustrate the activities of immigrants after returning. We show that more than h...
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作者：Tabuchi, T; Thisse, JF
作者单位：University of Tokyo; Universite Catholique Louvain; Centre for Economic Policy Research - UK
摘要：This paper investigates the impact of the heterogeneity of the labor force on the spatial distribution of activities. This goal is achieved by applying the tools of discrete choice theory to an economic geography model. We show that taste heterogeneity acts as a strong dispersion force. We also show that the relationship between the spatial distribution of the industry (the wage differential) and trade costs is smooth and bell-shaped. Finally, while Rawlsian equity leads to the dispersion of i...
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作者：Gelos, RG; Werner, AM
作者单位：International Monetary Fund; Bank of Mexico
摘要：We examine the impact of financial liberalization on fixed investment in Mexico using establishment-level data from the manufacturing sector. In addition to analyzing changes in cash-flow sensitivities, an innovative approach explores the role of real estate as collateral and addresses a potential censoring problem. The results suggest that financial constraints were eased for the smallest firms, but not for larger ones. However, the importance of possessing real estate increased, given banks'...
