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作者：Reynaud, Julien; Vauday, Julien
作者单位：European Central Bank; heSam Universite; Universite Pantheon-Sorbonne; Paris School of Economics; Institut Polytechnique de Paris; Ecole Polytechnique
摘要：There is growing awareness that the distribution of IMF facilities may not be influenced only by the economic needs of borrowers. This paper focuses on the fact that the IMF may favour geopolitically important countries in the distribution of IMF loans, differentiating between concessional and non-concessional facilities. To carry out the empirical analysis, we construct a new database that compiles a wide array of proxies for geopolitical importance for 107 IMF countries over 1990-2003, focus...
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作者：Blalock, Garrick; Gertler, Paul J.
作者单位：Cornell University; University of California System; University of California Berkeley; National Bureau of Economic Research
摘要：We explore how firm capabilities affect the diffusion of technology brought with foreign direct investment (FDI). Using a panel dataset on Indonesian manufacturers from 1988 to 1996, we measure how the productivity of differing domestic firms responds to the entry of multinational competitors. We find that firms with investments in research and development and firms with highly educated employees adopt more technology from foreign entrants than others. In contrast, firms that have a small tech...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
