1,721,458 research outputs found
Tracking and Incentives. A comment on Hanushek and Woessmann
Full text linktracking, selection, educational policy, tracking, selection
Does Globalization Affect Growth?
Full text linkThe paper presents an index of globalization covering its three main dimensions: economic integration, social integration, and political integration. Using panel data for 123 countries in 1970-2000 the effects of the overall index of globalization as well as sub-indexes constructed to measure the single dimensions on economic growth are analyzed empirically. The results show that globalization promotes growth - but not to an extent necessary to reduce poverty on a large scale. The dimensions most robustly related with growth refer to actual economic flows and restrictions in developed countries. Although less robustly, information flows also promote growth whereas political integration has no effect.Globalization, Growth
Does Globalization Affect Growth? Evidence from a new Index of Globalization
Full text linkMeasurement of Globalization, Growth
Does the IMF cause moral hazard? A critical review of the evidence
Full text linkThe paper provides a critical review of empirical studies on IMF induced moral hazard. Taken together, there is considerable evidence that the insurance provided by the Fund leads to moral hazard with investors in bond markets, while moral hazard in equity markets has so far not been convincingly tested. Debtor moral hazard has much less frequently been investigated, and the counterfactual is more difficult to construct. There is, however, evidence that debtor governments’ policies are negatively influenced by the insurance. Their policies are more expansive leading to higher probabilities of IMF programs and shorter inter-program-periods.
The Intriguing Nexus between Corruption and Capital Account Restrictions
Full text linkThe paper develops a theoretical model showing a mutual relationship between corruption and capital account restrictions. According to the model, higher corruption induces stricter restrictions and vice versa. We test the model using panel data for 112 countries over the period 1984–2002 and find that corruption and restrictions are indeed mutually determined. Estimating the model simultaneously, capital account restrictions induce higher corruption. Higher corruption, in turn, is associated with more restrictions on the capital account.The empirical relationship is,however, not completely robust.Corruption, capital account restrictions, dynamic panel
IMF and Economic Growth: The Effects of Programs, Loans, and Compliance with Conditionality
Full text linkIMF programs, growth, compliance, conditionality
Independent Actor or Agent? An Empirical Analysis of the impact of US interests on IMF Conditions
Full text linkIn this paper we analyze whether IMF conditionality is exclusively designed in line with observable economic indicators or, alternatively, whether it is partly driven by its major shareholder, the United States. A panel data analysis of 206 letters of intent from 38 countries from 4/1997-2/2003 reveals that the number of conditions on an IMF loan depends on a borrowing country’s voting pattern in the UN general assembly. Closer US allies receive IMF loans with fewer conditions especially prior to elections. Countries not allied with the US have to accept more conditions at election time. We believe that these empirical results speak to the current debate on IMF conditionality and contribute to the broader literature on the role and functioning of international institutions in the global economy.IMF, conditionality, elections
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Aid Fragmentation and Effectiveness: What Do We Really Know?
No full textAid Fragmentation and Effectiveness: What do we Really Know? (With Katja Michaelowa, Axel Dreher, and Franziska Spörri), World Development 99 (11/ 2017)
Summary
Aid fragmentation is widely recognized as being detrimental to development outcomes. We reinvestigate the impact of fragmentation in the context of growth, bureaucratic policy, and education, focusing on a number of conceptually different indicators of fragmentation, and paying attention to potentially heterogeneous effects across countries, sectors, and channels of influence. Our systematic and detailed reexamination of existing empirical studies shows that this differentiation is crucial. In some sectors—such as primary education—donor concentration or limiting donor numbers appear to be detrimental rather than beneficial for development outcomes. In other areas, we find the expected negative effect, but only when we conceptualize fragmentation as a lack of lead donors (too limited concentration), rather than in terms of donor numbers. In all cases, sufficient initial administrative capacity in recipient countries prevents the negative and reinforces the positive effects of fragmentation. This stresses the importance of questioning the sweeping conclusions drawn by much of the previous literature. Based on what we currently know, generalizing judgments about the effect of aid fragmentation may be misleading
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