EconStor Collection:
https://hdl.handle.net/10419/45040
2024-03-28T11:10:38ZEntrepreneurship and reforms in developing countries
https://hdl.handle.net/10419/45122
Title: Entrepreneurship and reforms in developing countries
Authors: Baliamoune-Lutz, Mina
Abstract: We examine how institutional and policy reforms affect the relationship between entrepreneurship and growth. We perform Arellano-Bond GMM estimations on annual data (over the period 1990-2002) from a large group of developing countries and focus in particular on the interplay between policy and institutional reforms and entrepreneurship. We find that the joint effect of trade reform and entrepreneurship on growth is negative, suggesting that trade reform diminishes the positive effects of entrepreneurial ability on growth, while the joint effect of financial sector reform and entrepreneurship has a non-linear impact on growth. Financial sector reforms enhance the growth effect of entrepreneurship at initial levels and diminish it at high levels of reform. In addition, we find that the interplay of institutional reform and entrepreneurship does not seem to matter for the growth effects of entrepreneurship.2009-01-01T00:00:00ZHungary: The janus-faced success story
https://hdl.handle.net/10419/45050
Title: Hungary: The janus-faced success story
Authors: Csaba, László
Abstract: This paper offers a broad overview of the Hungarian development strategy over the past two decades. Combining historical and functional analysis, some major strengths and weaknesses are identified, with special emphasis on the country's open-door policies and the role played by the European Union. The paper investigates why the impetus of institutional and financial integration was lost by about 2004 when policy drifting took over the role of strategies. Some ideas on how to remedy the situation are being offered. Paradoxically, the Hungarian success and failure both testify to the relevance of a neoinstitutionalist/political economy approach to sustainable development. It also examines the limitations of external anchoring by the EU as well as of the spontaneous bottom-up evolution of institutions when policy drifting continues.2009-01-01T00:00:00ZEconomic reforms and infrastructure spending: Evidence from China and India
https://hdl.handle.net/10419/45055
Title: Economic reforms and infrastructure spending: Evidence from China and India
Authors: Chakraborty, Pinaki; Zhang, Yan
Abstract: This paper examines the country specific effect of policy reform on infrastructure spending in China and India. In China we have examined how marketization and decentralization has affected the composition of provincial public expenditure and in the case of India we have examined the impact of fiscal reforms on sub-national infrastructure spending. It is observed that in China with a lower marketization level in 1986-1992, fiscal decentralization had positive effect on development expenditure and negative effect on other expenditure. However, when the marketization level increased, such effects were reversed. In the case of India, the econometric estimates revealed that, in the post-economic liberalization era, financial sector reforms and fiscal reforms have adversely affected the sub-national finances and thereby the infrastructure spending. The fiscal intervention dummy found to be negative for all the sectoral expenditure, though it was expansionary for total expenditure, implying it to be committed/nondevelopmental expenditure driven. Thus, to conclude, as the fiscal space has been shrinking due to reform, there is an urgent need and more so in India for corrective measures to increase the fiscal space for higher infrastructure spending.2009-01-01T00:00:00ZThe case for an intermediate exchange rate regime with endogenizing market structures and capital mobility: The empirical study of Brazil
https://hdl.handle.net/10419/45167
Title: The case for an intermediate exchange rate regime with endogenizing market structures and capital mobility: The empirical study of Brazil
Authors: Kaltenbrunner, Annina; Nissanke, Machiko
Abstract: Set in the context of the recent theoretical and policy debates on appropriate exchange rate regimes for emerging market economies in a world of free capital mobility, the paper attempts to present the case for an intermediate exchange rate regime, drawing on recent theoretical and empirical literatures on behavioural finance and currency market structures; and to examine empirically the experiences and evolution of Brazil's foreign exchange market under different exchange rate regimes.2009-01-01T00:00:00Z