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Membership has its Privileges - The Effect of Membership in International Organizations on FDI
(2010)CESifo Working PapersWe argue that membership in International Organizations (IOs) is an important determinant of FDI inflows. To the extent that membership restricts a country from pursuing policies that ar harmful to investors, it can signal low political risk. Using data over the 1971-2005 period, w find that membership in IOs does indeed increase inflows of FDI. Controlling for th endogeneity of membership, we find this effect to be substantively important ...Working Paper -
Does Membership on the UN Security Council Influence IMF Conditionality?
(2010)Discussion papers / Center for European, Governance and Economic Development Research, CEGEWe investigate whether elected members of the United Nations Security Council receive favorable treatment from the International Monetary Fund (IMF), analyzing panel data on the level of conditionality attached to (a maximum of) 314 IMF arrangements with 101 countries over the period of 1992 to 2008. We find a negative relationship: Security Council members receive about 30 percent fewer conditions attached to the loans that they receive ...Working Paper -
Does High Inflation Cause Central Bankers to Lose Their Job? Evidence Based on a New Data Set
(2007)CESifo Working PapersThis paper introduces new data on the term in office of central bank governors in 137 countries for 1970-2004. Our panel models show that the probability that a central bank governor is replaced in a particular year is positively related to the share of the term in office elapsed, political and regime instability, the occurrence of elections, and inflation. The latter result suggests that the turnover rate of central bank governors (TOR) ...Working Paper -
Politics and IMF Conditionality
(2013)CESifo Working PapersBailouts sponsored by the International Monetary Fund (IMF) are famous for their conditionality: in return for continued installments of desperately needed loans, governments must comply with austere policy changes. Many have suggested, however, that politically important countries face rather weak stringency. Obstacles to testing this hypothesis include finding a measure of political importance that is not plagued by endogeneity and ...Working Paper -
Do IMF and World Bank Influence Voting in the UN General Assembly?
(2006)CESifo Working PapersUsing panel data for 188 countries over the period 1970-2002 this paper empirically analyzes the influence of the IMF and the World Bank on voting patterns in the UN General Assembly. Countries receiving adjustment programs and larger non-concessional loans from the World Bank vote more frequently in line with the average G7 country. The same is true for countries obtaining non-concessional IMF programs. Regarding voting coincidence with ...Working Paper -
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The bigger the better? Evidence of the effect of government size on life satifaction around the world
(2005)Economics Working Paper SeriesWorking Paper -
Keeping a Low Profile: What Determines the Allocation of Aid by Non-Governmental Organizations?
(2008)KOF Working PapersNGOs play an important role in international development cooperation, but the allocation of NGO aid has rarely been mapped, let alone explained. Based on a representative dataset for 61 important NGOs from various OECD countries, we analyze the targeting of NGO aid across a large number of recipient countries by jointly considering major determinants of NGO aid in a multivariate regression framework. While our results show that NGOs are ...Working Paper -
Do IMF and World Bank influence voting in the UN general assembly?
(2006)KOF Working PapersUsing panel data for 188 countries over the period 1970-2002 this paper empirically analyzes the influence of the IMF and the World Bank on voting patterns in the UN General Assembly. Countries receiving adjustment programs and larger non-concessional loans from the World Bank vote more frequently in line with the average G7 country. The same is true for countries obtaining non-concessional IMF programs. Regarding voting coincidence with ...Working Paper -
Politics and IMF Conditionality
(2013)KOF Working PapersBailouts sponsored by the International Monetary Fund (IMF) are famous for their conditionality: in return for continued installments of desperately needed loans, governments must comply with austere policy changes. Many have suggested, however, that politically important countries face rather weak stringency. Obstacles to testing this hypothesis include finding a measure of political importance that is not plagued by endogeneity and ...Working Paper