When Do Special Interests Run Rampant Disentangling The Role In Banking Crises Of Elections Incomplete Information And

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When Do Special Interests Run Rampant?

Author : Philip Keefer
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4./5 ( download)

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Book Synopsis When Do Special Interests Run Rampant? by : Philip Keefer

Download or read book When Do Special Interests Run Rampant? written by Philip Keefer and published by World Bank Publications. This book was released on 2001 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Government responses to banking crises are less likely to favor special interest groups when elections are near, voters are better informed about the costs of inefficient government decisions, and governments have multiple veto players. Keefer investigates the political determinants of government decisions that benefit special interest groups, especially government decisions to deal with banking crises. He finds that the better informed the voters, the more proximate elections, and the larger the number of political veto players (conditional on the costs to voters of relevant policy decisions), the smaller the government's fiscal transfers are to the financial sector and the less likely the government is to exercise forbearance in dealing with insolvent financial institutions.

When Do Special Interests Run Rampant? Disentangling the Role of Elections, Incomplete Information and Checks and Balances in Banking Crises

Download When Do Special Interests Run Rampant? Disentangling the Role of Elections, Incomplete Information and Checks and Balances in Banking Crises PDF Online Free

Author : Philip Keefer
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis When Do Special Interests Run Rampant? Disentangling the Role of Elections, Incomplete Information and Checks and Balances in Banking Crises by : Philip Keefer

Download or read book When Do Special Interests Run Rampant? Disentangling the Role of Elections, Incomplete Information and Checks and Balances in Banking Crises written by Philip Keefer and published by . This book was released on 2016 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Government responses to banking crises are less likely to favor special interest groups when elections are near, voters are better informed about the costs of inefficient government decisions, and governments have multiple veto players.Keefer investigates the political determinants of government decisions that benefit special interest groups - especially government decisions to deal with banking crises. He finds that the better informed the voters, the more proximate elections, and the larger the number of political veto players (conditional on the costs to voters of relevant policy decisions), the smaller the government's fiscal transfers are to the financial sector and the less likely the government is to exercise forbearance in dealing with insolvent financial institutions.The results suggest that policies that might be appropriate for mitigating banking crises in the United States might be less effective in settings where voters are less informed, where elections are less competitive, and where there are fewer veto players, because in these settings checks and balances are missing. These policies include:ŉ Disseminating information about the costs of inefficient government decisions.ŉ Improving the structure of legislative regulatory oversight.ŉ Intervening early in insolvent banks.Keefer concludes that the more veto players there are, the less likely policies are to favor special interest groups (contrary to previous views). Moreover, the closer the elections, the less likely policies are to favor special interest groups.This paper - a product of Regulation and Competition Policy, Development Research Group - is part of a larger effort in the group to explore the policy consequences of political and social institutions.

When Do Special Interests Run Rampant? Disentangling the Role in Banking Crises of Elections, Incomplete Information, and

Author : Philip Keefer
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (847 download)

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Book Synopsis When Do Special Interests Run Rampant? Disentangling the Role in Banking Crises of Elections, Incomplete Information, and by : Philip Keefer

Download or read book When Do Special Interests Run Rampant? Disentangling the Role in Banking Crises of Elections, Incomplete Information, and written by Philip Keefer and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: February 2001 Government responses to banking crises are less likely to favor special interest groups when elections are near, voters are better informed about the costs of inefficient government decisions, and governments have multiple veto players. Keefer investigates the political determinants of government decisions that benefit special interest groups--especially government decisions to deal with banking crises. He finds that the better informed the voters, the more proximate elections, and the larger the number of political veto players (conditional on the costs to voters of relevant policy decisions), the smaller the government's fiscal transfers are to the financial sector and the less likely the government is to exercise forbearance in dealing with insolvent financial institutions. The results suggest that policies that might be appropriate for mitigating banking crises in the United States might be less effective in settings where voters are less informed, where elections are less competitive, and where there are fewer veto players, because in these settings checks and balances are missing. These policies include: * Disseminating information about the costs of inefficient government decisions. * Improving the structure of legislative regulatory oversight. * Intervening early in insolvent banks. Keefer concludes that the more veto players there are, the less likely policies are to favor special interest groups (contrary to previous views). Moreover, the closer the elections, the less likely policies are to favor special interest groups. This paper--a product of Regulation and Competition Policy, Development Research Group--is part of a larger effort in the group to explore the policy consequences of political and social institutions. The author may be contacted at [email protected].

Democracy and Income Inequality An Empirical Analysis

Author : Branko Milanovi?, Yvonne Ying, Mark Gradstein
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4./5 ( download)

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Book Synopsis Democracy and Income Inequality An Empirical Analysis by : Branko Milanovi?, Yvonne Ying, Mark Gradstein

Download or read book Democracy and Income Inequality An Empirical Analysis written by Branko Milanovi?, Yvonne Ying, Mark Gradstein and published by World Bank Publications. This book was released on 2001 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ideology, as proxied by a country's dominant religion, seems to be related to inequality. In Judeo-Christian societies increased democratization appears to lower inequality; in Muslim and Confucian societies it has an insignificant effect. One reason for this difference may be that Muslim and Confucian societies rely on informal transfers to reach the desired level of inequality, while Judeo-Christian societies, where family ties are weaker, use political action.

Administrative Costs and the Organization of Individual Retirement Account Systems

Author : Estelle James
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 80 pages
Book Rating : 4./5 ( download)

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Book Synopsis Administrative Costs and the Organization of Individual Retirement Account Systems by : Estelle James

Download or read book Administrative Costs and the Organization of Individual Retirement Account Systems written by Estelle James and published by World Bank Publications. This book was released on 2001 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: Organizing individual retirement accounts through the institutional market and with constrained choice could substantially lower administrative costs. The tradeoff: rebidding problems, weaker performance incentives, inflexibility in the face of unforeseen contingencies, and an increased probability of corruption, collusion, and regulatory capture.

Catastrophe Risk Management

Author : John D. Pollner
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 130 pages
Book Rating : 4./5 ( download)

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Book Synopsis Catastrophe Risk Management by : John D. Pollner

Download or read book Catastrophe Risk Management written by John D. Pollner and published by World Bank Publications. This book was released on 2001 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: In providing support for disaster-prone areas such as the Caribbean, the development community has begun to progress from disaster reconstruction assistance to funding for investment in mitigation as an explicit tool for sustainable development. Now it must enter a new phase, applying risk transfer mechanisms to address the financial risk of exposure to catastrophic events that require funding beyond what can be controlled solely through mitigation and physical measures.

Growth, Inequality and Poverty

Author : Martin Ravallion
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4./5 ( download)

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Book Synopsis Growth, Inequality and Poverty by : Martin Ravallion

Download or read book Growth, Inequality and Poverty written by Martin Ravallion and published by World Bank Publications. This book was released on 2001 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: One side in the current debate about who benefits from growth has focused solely on average impacts on poverty and inequality, while the other side has focused on the diverse welfare impacts found beneath the averages. Both sides have a point.

The Value of Institutions for Financial Markets

Author : Mr.Thomas Stratmann
Publisher : International Monetary Fund
ISBN 13 : 1451871740
Total Pages : 23 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis The Value of Institutions for Financial Markets by : Mr.Thomas Stratmann

Download or read book The Value of Institutions for Financial Markets written by Mr.Thomas Stratmann and published by International Monetary Fund. This book was released on 2009-02-01 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the value of political institutions for financial markets, using panel data from emerging market countries. We test the hypothesis that changes in political institutions, such as improvements in democratic rights and increased government accountability, have a direct effect on sovereign interest rate spreads. We find that financial markets value institutions over and above the economic and fiscal outcomes these institutions shape. Democracy and accountability generally lower sovereign spreads, political risk tends to increase them, and financial markets tend to view election years negatively.

Handbook of Central Banking, Financial Regulation and Supervision

Author : S. Eijffinger
Publisher : Edward Elgar Publishing
ISBN 13 : 1849805768
Total Pages : 673 pages
Book Rating : 4.8/5 (498 download)

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Book Synopsis Handbook of Central Banking, Financial Regulation and Supervision by : S. Eijffinger

Download or read book Handbook of Central Banking, Financial Regulation and Supervision written by S. Eijffinger and published by Edward Elgar Publishing. This book was released on 2011-01-01 with total page 673 pages. Available in PDF, EPUB and Kindle. Book excerpt: ÔThis Handbook is a must read for policy makers and practitioners alike as well as excellent reading for advanced academic courses in international banking.Õ Ð Allard Bruinshoofd, SUERF ÔThis collection of papers is essential reading for anyone interested in central banking, regulation and supervision. Sylvester Eijffinger and Donato Masciandaro have brought together contributions from the leading academics, central bankers and regulators, providing the most up-to-date analysis of this critical subject.Õ Ð Paul Mizen, University of Nottingham, UK This stimulating and original Handbook offers an updated and systematic discussion of the relationship between central banks, financial regulation and supervision after the global financial crisis. The crisis has raised new questions about the compatibility of monetary and financial stability, which are changing the face of central banking and its relationships with the architecture of financial regulation and supervision. The Handbook explores on both the economics and political economy of the topic, in order to understand how and why reforms of the role of the central banks can be designed and implemented. The general suggestion is that future effectiveness of the central banking architecture will depend on its ability to ensure the consistency between the monetary actions in normal and extraordinary times. Consequently the possible paths in the central bank strategies and tactics, as well as in the classic concepts of independence, accountability and transparency, are analyzed and discussed. With chapters written by outstanding scholars in economics, this lucid Handbook will appeal to academics, policymakers and practitioners, ranging from central bankers and supervisory authorities to financial operators. Among the academics it would be of particular interest to financial and monetary economists (including postgraduate students), but the institutional slant and the central theme of relations between economics, institutional settings and politics will also be invaluable for political scientists.

Inventories in Developing Countries

Author : J. Luis Guasch
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 30 pages
Book Rating : 4./5 ( download)

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Book Synopsis Inventories in Developing Countries by : J. Luis Guasch

Download or read book Inventories in Developing Countries written by J. Luis Guasch and published by World Bank Publications. This book was released on 2001 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: High inventory levels in developing countries increase the cost of doing business and limit productivity and competitiveness. Improvements in infrastructure (roads, ports, and telecommunications) and in market development can help to significantly reduce inventory levels (and thus the cost of doing business), especially when accompanied by effective regulation and the development and deregulation of associated markets.

Infrastructure Coverage and the Poor

Author : Kristin Komives
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4./5 ( download)

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Book Synopsis Infrastructure Coverage and the Poor by : Kristin Komives

Download or read book Infrastructure Coverage and the Poor written by Kristin Komives and published by World Bank Publications. This book was released on 2001 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: The poor in most parts of the world may have electricity (especially in urban areas), but they rarely have water, sewer, and telephone services. When they gain access to local services, however, many do decide to connect.

Measuring Poverty Dynamics and Inequality in Transition Economies

Author : Erzo F. P. Luttmer
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4./5 ( download)

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Book Synopsis Measuring Poverty Dynamics and Inequality in Transition Economies by : Erzo F. P. Luttmer

Download or read book Measuring Poverty Dynamics and Inequality in Transition Economies written by Erzo F. P. Luttmer and published by World Bank Publications. This book was released on 1999 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Estimates of income inequality and the dynamics of poverty are highly sensitive to measurement error and transitory shocks in micro-level data. The apparent high levels of economic mobility in Poland and Russia are driven largely by transitory shocks and noisy data. There is a real risk of an entrenched underclass emerging in these transition economies.

Measuring Equity in Health Care Financing

Author : Adam Wagstaff
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4./5 ( download)

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Book Synopsis Measuring Equity in Health Care Financing by : Adam Wagstaff

Download or read book Measuring Equity in Health Care Financing written by Adam Wagstaff and published by World Bank Publications. This book was released on 2001 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The World Health Organization's latest World health report proposes an index of fairness in health care financing. The index's chief weakness is that it cannot discriminate among progressive, regressive, and horizontally inequitable health financing systems. An alternative approach proposed in the early 1990s is shown to do a better job.

Governing Finance

Author : Andrew Walter
Publisher : Cornell University Press
ISBN 13 : 0801458153
Total Pages : 255 pages
Book Rating : 4.8/5 (14 download)

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Book Synopsis Governing Finance by : Andrew Walter

Download or read book Governing Finance written by Andrew Walter and published by Cornell University Press. This book was released on 2011-03-15 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: The international financial community blamed the Asian crisis of 1997–1998 on deep failures of domestic financial governance. To avoid similar crises in the future, this community adopted and promoted a set of international "best practice" standards of financial governance. The G7 asked specialized public and private sector bodies to set international standards, and tasked the International Monetary Fund and the World Bank with their global dissemination. Non-Western countries were thereby encouraged to emulate Western practices in banking and securities supervision, corporate governance, financial disclosure, and policy transparency. In Governing Finance, Andrew Walter explains why Indonesia, Malaysia, South Korea, and Thailand—key targets and test cases of this international standards project—were placed under intense pressure to transform their domestic financial governance. Walter finds that the depth of the economic crisis, and more enduring aspects of Asian capitalism, such as family ownership of firms, made substantive compliance with international standards very costly for the private sector and politically difficult for governments to achieve. In spite of international compliance pressure, the result was varying degrees of cosmetic or "mock" compliance. In a book containing lessons for any agency or country attempting to implement lasting change in financial governance, Walter emphasizes the limits of global regulatory convergence in the absence of support from domestic politicians, institutions, and firms.

Rethinking Bank Regulation

Author : James R. Barth
Publisher : Cambridge University Press
ISBN 13 : 9780521709309
Total Pages : 446 pages
Book Rating : 4.7/5 (93 download)

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Book Synopsis Rethinking Bank Regulation by : James R. Barth

Download or read book Rethinking Bank Regulation written by James R. Barth and published by Cambridge University Press. This book was released on 2008-05-12 with total page 446 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents a new database on bank regulation in over 150 countries. It offers a comprehensive cross-country assessment of the impact of bank regulation on the operation of banks and assesses the validity of the Basel Committee's influential approach to bank regulation.

Democracy at Work

Author : Brian Wampler
Publisher : Cambridge University Press
ISBN 13 : 1108493149
Total Pages : 375 pages
Book Rating : 4.1/5 (84 download)

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Book Synopsis Democracy at Work by : Brian Wampler

Download or read book Democracy at Work written by Brian Wampler and published by Cambridge University Press. This book was released on 2019-11-28 with total page 375 pages. Available in PDF, EPUB and Kindle. Book excerpt: Demonstrates how specific dimensions of democracy - participation, citizenship rights, and an inclusionary state - enhance human development and well-being.

International Provision of Trade Services, Trade, and Fragmentation

Author : Alan V. Deardorff
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4./5 ( download)

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Book Synopsis International Provision of Trade Services, Trade, and Fragmentation by : Alan V. Deardorff

Download or read book International Provision of Trade Services, Trade, and Fragmentation written by Alan V. Deardorff and published by World Bank Publications. This book was released on 2001 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author examines the special role that trade liberalization in services industries can play in stimulating trade in both services, and goods. International trade in goods requires inputs from such trade services as transportation, insurance, and finance, for example. Restrictions on services across borders, and within foreign countries add costs, and barriers to international trade. Liberalizing trade in services could also facilitate trade in goods, providing more benefits than one might expect from analysis merely of the services trade. To emphasize the point, the author notes that the benefits for trade are arguably enhanced by the phenomenon of fragmentation. The more that production processes become split across locations, with the fragments tied together, and coordinated by various trade services, the greater the gains from reductions in the costs of services. The incentives for such fragmentation can be greater across countries, than within countries, because of the greater differences in factor prices, and technologies. But the service costs of international fragmentation can also be larger, especially if regulations, and restrictions impede the international provision of services. As a result, trade liberalization in services can stimulate the fragmentation of production of both goods, and services, thus increasing international trade, and the gains from trade even further. Since fragmentation seems to characterize an increasing portion of world specialization, the importance of service liberalization is growing apace.