infonet-economy

This paper examines the phenomenon of financial euroization in Albania, focusing on the liability side of the banking system. It explores some of the main theoretical and empirical determinants of deposit euroization in the context of the high euroization rates originating in the transition period of the early 1990s. Despite gradual improvements in the macroeconomic framework,…

We combine original geo-referenced data on mining extraction of 15 minerals with information on conflict events at spatial resolution of 0.5o x 0.5o for all Africa over 1997-2010. Exploiting exogenous variations in world prices, we find a positive impact of mining on conflict at the local level. Quantitatively, the historical rise in prices (commodity super-cycle) explains 15-25…

Comment les chocs de demande subis par les entreprises françaises sur leurs ventes à l’étranger se répercutent-ils sur leurs ventes en France ? Cette Lettre présente les résultats d’une analyse empirique mettant en évidence une relation de complémentarité entre exportations et ventes domestiques. Une hausse de 10% des exportations engendre, la même année, un accroissement des ventes…

We conduct an impact evaluation of the minimum wage legislation for domestic workers that was introduced in four states in India over the period of 2004-2012. Combining the matching and difference-in-difference estimation strategies we estimate both the short-run and long-run impacts of the legislation on real wages and on employment opportunities. Our results show a positive impact…

The paper asks whether the financial crisis is upsetting the struggle for dominance between monetary and fiscal policy. It argues that a crisis is indeed a key moment when challenges to monetary policy dominance are greatest. However, the need to bail out financial institutions blurs the distinction between monetary and fiscal policy. The subsequent shift to public debt stress…

This paper studies the determinants of pricing-to-market at the firm-level, with a particular focus on the role of firm-specific and policy-induced market power. We use a large dataset containing export values and quantities by product and destination for all exporting firms in 12 developing and emerging countries, over several years. We first show that firms in our sample do price…

Global Value Chains (GVCs) have become a central topic in trade and development policy but little is known about their actual impact on economic performance because data availability has been limited. Using a new unique set of Inter-Country Input-Output tables with extensive country coverage, I look at the relationship between GVC participation and domestic value added at the…

This paper investigates the role of banks’ foreign asset holdings in transmitting credit risk internationally. Foreign exposure in risky assets might severely affect the solvability of credit institutions. Credit risk, in turn, transfers from banks to public accounts as a consequence of implicit or explicit bailout guarantees to distressed banking systems. This paper articulates this…