1,721,015 research outputs found
From a Currency Board to the Euro: Public Attitudes Toward Unilateral Euroisation in Bulgaria1
No full textBulgaria has operated a currency board since 1997. It is expected to join the European Union in 2007 and the European Monetary Union (EMU) thereafter. This paper analyses public attitudes toward adoption of the euro in advance of EMU membership and offers unique evidence on the political economy of a move from a currency peg to euroisation The support for early euroisation reflects concerns about currency devaluation and the perception that the euro is already widely used in the economy. The opposition derives primarily from attachment to the national currency. Comparative Economic Studies (2006) 48, 480–496. doi:10.1057/palgrave.ces.8100124
Eastern and Southern Africa Monetary Integration: A Structural Vector Autoregression Analysis
No full textThe Maturity Structure of Bank Credit: Determinants and Effects on Economic Growth
Full text linkWe investigate a new data set on the maturity of bank credit to the private sector in 74 countries. We show that credit maturity is longer in countries with strong institutions, low inflation, large financial markets, and where banks share information about borrowers. Furthermore, we extend the finance and growth literature by showing that credit maturity matters for economic growth. Economic growth is enhanced in countries where agents have access to long-term financing. Therefore, weak institutions, high inflation and other variables that reduce credit maturity have an impact on economic growth via their influence on credit maturity. The estimated effects are substantial in size. Working Paper 08-1
Credit Expansions and Financial Crises: The Roles of Household and Firm Credit
Full text linkThe literature has identified credit expansions to the private sector as an important predictor of financial crises in developing countries. We extend the literature by decomposing credit into credit extended to households and credit extended to firms. We compile a unique disaggregated data set and find evidence that household credit growth and firm credit growth have positive, distinct, and statistically significant effects on the likelihood of banking and currency crises. Furthermore, household credit growth is a particularly important predictor of banking crises in countries with a high propensity to consume. Working Paper 06-5
Women and Illegal Activities: Gender Differences and Women?s Willingness to Comply over Time
No full textIn recent years the topics of illegal activities such as corruption or tax evasion have attracted a great deal of attention. However, there is still a lack of substantial empirical evidence about the determinants of compliance. The aim of this paper is to investigate empirically whether women are more willing to be compliant than men and whether we observe (among women and in general) differences in attitudes among similar age groups in different time periods (cohort effect) or changing attitudes of the same cohorts over time (age effect) using data from eight Western European countries from the World Values Survey and the European Values Survey that span the period from 1981 to 1999. The results reveal higher willingness to comply among women and an age rather than a cohort effect.corruption; bribe; social norms; tax compliance; gender effect; age effect; cohort effect
Monetary Union and Central Bank Independence
Full text linkWe study the consequences of forming a monetary union among a group of countries where the central banks lack independence and are pressured frequently to accommodate government objectives. This is a common situation in the developing countries. As it is common in the literature, we show that forming a monetary union yields net benefits if output shocks are similar across the member countries and if one or more countries in the union can serve as anchors. Our framework highlights an additional gain from monetary union. We show that the opportunistic objectives of one country's policymakers are kept in check at the union level by other members with disparate objectives. Hence, monetary union can improve the monetary policy for its members if the pressures on the individual central banks are dissimilar. We calibrate the model to evaluate the proposed monetary union in the East African Community. Working Paper 06-5
Public Attitudes Toward Corruption and Tax Evasion: Investigating the Role of Gender Over Time
Full text linkIn recent years the topics of illegal activities such as corruption or tax evasion have attracted a great deal of attention. However, there is still a lack of substantial empirical evidence about the determinants of compliance. The aim of this paper is to investigate empirically whether women are more willing to be compliant than men focusing on corruption and tax evasion and whether we observe (among women and in general) differences in attitudes among similar age groups in different time periods (cohort effect) or changing attitudes of the same cohorts over time (age effect). Method. Thus, this paper will use data from eight Western European countries from the World Values Survey and the European Values Survey that span the period from 1981 to 1999. Results. The results reveal higher willingness to comply among women and an age rather than a cohort effect. Conclusions. Thus, our results are in line with previous studies that found strong gender differences but are not in line with the equality and role theory that would suggest a decrease of gender differences with greater equality of status between men and women over time.corruption, tax evasion, tax compliance, men and women
GENDER AND PUBLIC ATTITUDES TOWARD CORRUPTION AND TAX EVASION
No full text"The topics of corruption and tax evasion have attracted significant attention in the literature in recent years. We build on that literature by investigating empirically: (1) whether attitudes toward corruption and tax evasion vary systematically with gender and (2) whether gender differences decline as men and women face similar opportunities for illicit behavior. We use data on eight Western European countries from the World Values Survey and the European Values Survey. The results reveal significantly greater aversion to corruption and tax evasion among women. This holds across countries and time, and across numerous empirical specifications." ("JEL" H260, D730, J160, Z130) Copyright (c) 2010 Western Economic Association International.
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