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on Central and Western Asia |
| By: | Alessandra Tucci (University of Milan and Centro Studi Luca d'Agliano) |
| Abstract: | Using Indian firm-level data, this paper examines the combined role of import and export intensity in a context of foreign networks. The more Indian firms are involved in trade networks the more they have a productivity advantage. Finally, information on the origin of import and on the destination of output are used to shed some light on the kind of networks in which firms are involved. We show that the upstream or downstream contact with more developed countries is not correlated with an higher productivity while there it seems to be an advantage for those firms that import and export to the same area. |
| Date: | 2005 |
| URL: | http://d.repec.org/n?u=RePEc:csl:devewp:199&r=cwa |
| By: | Ghosal, Sayantan (Department of Economics, University of Warwick); Proto, Eugenio (Department of Economics, University of Warwick) |
| Abstract: | Does power sharing between competing elites result in franchise extension to non-elites? In this paper, we argue that competing, risk-averse elites will enfranchise non-elites as in-surance against future, uncertain imbalances in relative bargaining power. We show that negligibly small changes in the bargaining power of non-elites, conditional on enfranchisment, via coalition formation, constrains the bargaining power of the stronger elite and result in discontinuous changes in equilibrium surplus division. Our results are robust to public good provision following enfranchisement when there is reference heterogeneity over the location of the public good across the different elites. We conclude with a comparative analysis of Indian democracy and show that our model is able to account for some of the distinctive features of Indian democracy. |
| Keywords: | enfranchisemnt ; elite ; non-elites ; conflict ; bargaining ; risk-sharing ; Indian democracy |
| JEL: | D72 D74 O57 |
| Date: | 2006 |
| URL: | http://d.repec.org/n?u=RePEc:wrk:warwec:750&r=cwa |
| By: | Adalbert Winkler (European Central Bank, Kaiserstrasse 29, 60311 Frankfurt am Main, Germany); Roland Beck (European Central Bank, Kaiserstrasse 29, 60311 Frankfurt am Main, Germany) |
| Abstract: | This paper – based on a report by a Task Force established by the International Relations Committee (IRC) of the European System of Central Banks (ESCB) – reviews macroeconomic and financial stability challenges for acceding (Bulgaria and Romania) and candidate countries (Croatia and Turkey). In an environment characterised by strong growth and capital inflows, the main macroeconomic challenges relate to the recent pick-up of inflation and the large and widening current account deficits. Moreover, rapid credit growth has been a recent feature of financial development in all countries and thus constitutes the main financial stability challenge. In general, monetary authorities have responded to these challenges by tightening monetary conditions and prudential standards, with concrete measures also reflecting the different monetary and exchange rate regimes in the region. The paper also highlights four specific features of financial development in the countries under review, namely the dominance of banks in financial intermediation, the strong participation of foreign-owned banks, the widespread use of foreign currencies and the strengthening of supervisory frameworks. JEL Classification: E65, G21, G38, O16, P27. |
| Keywords: | South-East Europe, macroeconomic performance, credit growth, financial stability. |
| Date: | 2006–07 |
| URL: | http://d.repec.org/n?u=RePEc:ecb:ecbops:20060048&r=cwa |