Political Institutions and Politics of Financial Patronage After Liberalization PDF Download
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Author: Wongi Choe
Publisher:
ISBN:
Category : Argentina
Languages : en
Pages : 310
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Book Description
Author: Wongi Choe
Publisher:
ISBN:
Category : Argentina
Languages : en
Pages : 310
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Book Description
Author: Matias Braun
Publisher: World Bank Publications
ISBN:
Category : Finance
Languages : en
Pages : 47
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Book Description
"A well developed financial system enhances competition in the industrial sector by allowing easier entry. The impact varies across industries, however. For some, small changes in financial development quickly induce entry and dissipate incumbents' rents, generating strong incentives to oppose improvement of the financial system. In other sectors incumbents may even benefit from increased availability of external funds. The relative strength of promoters and opponents determines the political equilibrium level of financial system development. This may be perturbed by the effect of trade liberalization in the strength of each group. Using a sample of 41 trade liberalizers Braun and Raddatz conduct an event study and show that the change in the strength of promoters vis--̉vis opponents is a very good predictor of subsequent financial development. The result is not driven by changes in demand for external funds, or by the success of the trade policy. The relationship is mediated by policy reforms, the kind that induces competition in the financial sector, in particular. Real effects follow not so much from capital deepening but mainly through improved allocation. The effect is stronger in countries with high levels of governance, suggesting that incumbents resort to this costly but more subtle way of restricting entry where it is difficult to obtain more blatant forms of anti-competitive measures from politicians. This paper--a product of the Investment and Growth Team, Development Research Group--is part of a larger effort in the group to understand the relation between finance and the macroeconomy"--World Bank web site.
Author: Anastasia Piliavsky
Publisher: Cambridge University Press
ISBN: 110705608X
Category : Political Science
Languages : en
Pages : 487
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Book Description
Western policymakers, political activists and academics alike see patronage as the chief enemy of open, democratic societies. Patronage, for them, is a corrupting force, a hallmark of failed and failing states, and the obverse of everything that good, modern governance ought to be. South Asia poses a frontal challenge for this consensus. Here the world's most populous, pluralist and animated democracy is also a hotbed of corruption with persistently startling levels of inequality. Patronage as Politics in South Asia confronts this paradox with calm erudition: sixteen essays by anthropologists, historians and political scientists show, from a wide range of cultural and historical angles, that in South Asia patronage is no feudal residue or retrograde political pressure, but a political form vital in its own right. This volume suggests that patronage is no foe to South Asia's burgeoning democratic cultures, but may in fact be their main driving force.
Author: Lise Rakner
Publisher: Nordic Africa Institute
ISBN: 9789171065063
Category : Democratization
Languages : en
Pages : 54
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Book Description
This title analyses the implementation of political and economic liberalisation in Zambia during the first two electin periods (1991 - 2001).
Author: Edmund Terence Gomez
Publisher: CUP Archive
ISBN: 9780521663687
Category : Business & Economics
Languages : en
Pages : 252
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Book Description
This book uses the concepts of rent and rent-seeking to study Malaysian political economy.
Author:
Publisher:
ISBN:
Category : Dissertations, Academic
Languages : en
Pages : 672
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Book Description
Author: Bidyut Chakrabarty
Publisher: Routledge
ISBN: 1134132689
Category : Political Science
Languages : en
Pages : 343
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Book Description
Focusing on politics and society in India, this book explores new areas enmeshed in the complex social, economic and political processes in the country. Linking the structural characteristics with the broader sociological context, the book emphasizes the strong influence of sociological issues on politics, such as social milieu shaping and the articulation of the political in day-to-day events. Political events are connected with the ever-changing social, economic and political processes in order to provide an analytical framework to explain ‘peculiarities’ of Indian politics. Bidyut Chakrabarty argues that three major ideological influences of colonialism, nationalism and democracy have provided the foundational values of Indian politics. Structured thematically and chronologically, this work is a useful resource for students of political science, sociology and South Asian studies.
Author: Francisco Gutiérrez Sanín
Publisher: IDRC
ISBN: 0745330630
Category : Business & Economics
Languages : en
Pages : 365
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Book Description
A study of workers struggles against management regimes in Britain's car industry from the Second World War to the late 1980s.
Author: Amy Chua
Publisher: Anchor
ISBN: 1400076374
Category : Political Science
Languages : en
Pages : 370
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Book Description
The reigning consensus holds that the combination of free markets and democracy would transform the third world and sweep away the ethnic hatred and religious zealotry associated with underdevelopment. In this revelatory investigation of the true impact of globalization, Yale Law School professor Amy Chua explains why many developing countries are in fact consumed by ethnic violence after adopting free market democracy. Chua shows how in non-Western countries around the globe, free markets have concentrated starkly disproportionate wealth in the hands of a resented ethnic minority. These “market-dominant minorities” – Chinese in Southeast Asia, Croatians in the former Yugoslavia, whites in Latin America and South Africa, Indians in East Africa, Lebanese in West Africa, Jews in post-communist Russia – become objects of violent hatred. At the same time, democracy empowers the impoverished majority, unleashing ethnic demagoguery, confiscation, and sometimes genocidal revenge. She also argues that the United States has become the world’s most visible market-dominant minority, a fact that helps explain the rising tide of anti-Americanism around the world. Chua is a friend of globalization, but she urges us to find ways to spread its benefits and curb its most destructive aspects.
Author: MissAnna Rose Bordon
Publisher: International Monetary Fund
ISBN: 1513590243
Category : Business & Economics
Languages : en
Pages : 28
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Book Description
Structural reforms are expected to lift growth and employment, but their effects are surprisingly difficult to pin down empirically. One reason is their potential endogeneity to the economic environment in which they are conducted. For example, the impact of a reform implemented shortly before a cyclical upswing is difficult to distinguish from the recovery itself. Similarly, macroeconomic policies conducted along a structural reform could affect the estimated impact. Exploring various options, this paper develops robust estimates of the impact of labor and product market reforms by using local projection techniques while controlling for endogeneity of reforms and other biases. The results suggest that labor and product market reforms have a lagged but positive impact on employment creation, and the positive effect remains even after controlling for the endogeneity of the decision to reform. Supportive macroeconomic policies are found to increase the effect of labor and product market reforms, consistent with the view that some structural reforms are best initiated in conjunction with supportive fiscal or monetary policy.
