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What is the relationship between financial development, political instability, trade openness and economic growth and how does it change over time? This paper examines these links using a new ... effect on economic growth, which depends significantly on (jointly estimated) trade openness thresholds. In addition, political instability displays a negative effect on growth whereas trade openness a
The present study identifies economic, political, and institutional variables that influence the distribution of personal incomes in the Eurozone countries facing severe fiscal imbalances, namely ... et al. 2019) , mainly in the form of political budget cycles (PBCs), which have been documented to severely affect the actual budget balance especially in Greece (Petrakos et al. 2021a) . We employ
we simulate a much more conservative cut in public investment by the Greek central government; (ii) a second scenario of a lower risk-premium, signalling, e.g., lower political and re-denomination ... Social Research (NIESR) , London , UK 1 London School of Economics and Political Science , London , UK At the beginning of 2010, the fiscal situation of Greece was unsustainable, and an ambitious but
banking system. The uncertainty induced by the controls was related to whether or not the combination of financial and political turmoil would lead Greece to exit the eurozone and adopt a new independent ... to political constraints. In the interim, the first six months of 2015 saw a run on the banking system due to increased political uncertainty. A cumulative 48.6 billion euros (or more than one quarter
of fiscal announcement, is lacking. This paper aims to bridge this gap. 8 The literature on the political bias in government forecasts is abundant. The persistence of overly optimistic forecasts led to ... the perception that, as budget forecasts came to occupy a more central role in the political process, the pressure on forecasters to help policy makers avoid hard choices led to forecasting bias. A
. Given that a broad programme of tax cuts and regulatory reform would more than pay for itself in the long run, it must be considered as a highly attractive political agenda. ... highly attractive political agenda. Regional study; DSGE model; Policy implication; Indirect Inference 1 Introduction In this paper we set out a model of the regional economy and apply it to UK data
and Development (OECD) countries over the period 1990–2018 we examine whether and how different welfare state models influence the impact of the economic, social and political dimensions of ... ; GMM - JEL Classification F68 · H19 · H53 · I38 · P50 1 Introduction A decades-long challenge for economics and political science research, among others, is to determine whether globalisation
findings indicate that political differences alone do not themselves preclude macroeconomic risk sharing within a monetary union. ... . Monetary union; Optimal currency area; Currency union; Political division 1 Introduction Clashing political preferences, along with concerns over migration and fiscal transfers, raise questions about how
free trade agreement. However, their paper takes political tensions between the US and China into consideration and their identification strategy is different from the strategy proposed by Benjamin Jung
, possibly in periods of elevated economic or political uncertainty. We may next use the respective errors to explain deviations of the estimated UIP slope coefficients from the theoretical value of = 0. The ... . Cambridge University Press Thornton DL ( 2019 ) Resolving the unbiasedness and forward premium puzzles . Scott J Political Econ 66 ( 1 ): 5 - 27 Triandafil CM , Richter C ( 2012 ) Testing the UIP theory in
International Economics 64(1):29–63, 2004) in the JIE 64 (1); secondly, to analyse the importance of additional factors, in particular socio-political factors; and thirdly, to analyse the dynamics of the EU ... formation or enhancement, socio-political variables also contribute to explain the formation of regional integration agreements. Democracies and countries with a higher level of economic freedom are more
-taking if there was a shared philosophy between the environmental educator and the teacher with respect to the aims of the experiences and the value of action-taking. The importance of teacher attitudes in ... teachers with respect to the philosophy of environmental learning experiences. Social media; environmental learning; action competence Introduction Many teachers engage their students in experiential
-taking if there was a shared philosophy between the environmental educator and the teacher with respect to the aims of the experiences and the value of action-taking. The importance of teacher attitudes in ... teachers with respect to the philosophy of environmental learning experiences. Social media; environmental learning; action competence Introduction Many teachers engage their students in experiential
internationalization of the Japanese yen also occurred despite initial domestic political resistance—the Foreign Exchange Law of 1980 allowed capital controls. 9 Chiţu et al. (2012 ) and Eichengreen and Flandreau ... currencies’ perceived safety can be linked to reserve issuers’ geopolitical or military 10 Historical (political and economic) ties continued to support the sterling area and the international role of the
countries. stable political environment can contribute to reinforce the access and the ties among credit markets (Eickmeier et al. 2014; Agnello et al. 2018) . Taking advantage of an extensive database ... ) The political and institutional determinants of credit booms . Oxford Bull Econ Stat 81 ( 5 ): 1144 - 1178 Castro V , Martins R ( 2021 ) What drives the duration of credit booms? Int J Financ Econ 26
, (ii) papers highlighting the importance of political factors affecting external debt in developing countries, and (iii) country-level analysis on the determinants of external debt. Tiruneh (2004 ... Longoni (2009) use a panel of 61 developing countries covering the period 1970–2000 to study the determinants of long-term external debt. While including socio-political factors in their model to explain
. (2016 ), Aizenman et al. (2019 ), Ito and McCauley (2019) . Finally, while the previously mentioned contributions focus on economic explanations of international reserve compositions, political ... political weight in the world. For example, according to Posen (2008) foreign reserve holdings “depend as much on foreign policy as economics”, while stressing the particular importance of security ties and
-taking if there was a shared philosophy between the environmental educator and the teacher with respect to the aims of the experiences and the value of action-taking. The importance of teacher attitudes in ... teachers with respect to the philosophy of environmental learning experiences. Social media; environmental learning; action competence Introduction Many teachers engage their students in experiential
of control variables includes income per capita growth, exchange rate regime, trade openness, capital account openness, an index of political rights, and a financial crises indicator (see Aizenman and ... shore up confidence or demonstrate fundamental soundness (Aizenmann and Marion 2004; Mwase 2012) . Thus, we include ‘an index of political rights’ to account for institutional quality. 7 Regarding the
Might Hit You With a Pocket Protector". 20. Silverstein, Illana. "First Contact: Improvisational Dance on Campus". 32. Dunson, Jim. "Philosophy of Pecan Pie: The Culmination of a Grand Tradition of Cu ... the Dole- keep me grounded and far from the heart of any republican, but the only explanation that I can offer is that love drums knows no boundaries, even political ones. My friends warned me against
