Publications des institutions partenaires
The legitimate regulatory distinction: challenging the boundary between interpretation and law-making in the appellate body
This paper focuses on the nature of the Appellate Body's interpretative method in arriving at its decision to read-in that Article 2.1 of the Agreement on Technical Barriers to Trade (TBT Agreement) will not prohibit a detrimental impact on competitive opportunities for imports in cases where such detrimental impact stems exclusively from a legitimate regulatory distinction.…
Institution partenaire
Institut de hautes études internationales et du développement
/ 21/02/2017
The future of the United Kingdom in Europe: exit scenarios and their implications on trade relations
Institution partenaire
Institut de hautes études internationales et du développement
/ 21/02/2017
Income tax in the WTO: substantive reach and rivaling proceedings
This paper considers the intersection of income tax and WTO rules. It defends an interpretation of the non-discrimination obligations in line with customary rules of interpretation as stipulated by the Vienna Convention on the Law of Treaties. It, thus, departs from the historic assumption that income taxes are not or only to a very limited extent covered by the GATT. Subsequently,…
Institution partenaire
Institut de hautes études internationales et du développement
/ 21/02/2017
The Folk Theorem of decreasing effectiveness of monetary policy: what do the data say?
It is increasingly claimed that unconventional monetary policies are subject to decreasing effectiveness in supporting growth and raising the inflation rate. There are good reasons to believe that the effects of further asset purchases by central banks and of moving the interest rate deeper in negative territory progressively decline. But has it been happening? This paper attempts to…
Institution partenaire
Institut de hautes études internationales et du développement
/ 22/12/2016
Business-humanitarian partnerships: processes of normative legitimation
Institution partenaire
Institut de hautes études internationales et du développement
English / 08/12/2016
Liquidity-driven FDI
We develop a model of foreign direct investment (FDI) in which financially liquid foreign firms acquire liquidity-constrained target firms. Using a large dataset of emerging-market acquisitions, we find evidence supporting three central predictions of the model: (i) firms in external finance dependent and intangible sectors are more likely to be targets of foreign acquisitions; (ii)…
Institution partenaire
Institut de hautes études internationales et du développement
English / 25/10/2016
The elusive costs of sovereign defaults
Few would dispute that sovereign defaults entail significant economic costs, including, most notably, important output losses. However, most of the evidence supporting this conventional wisdom, based on annual observations, suffers from serious measurement and identification problems. To address these drawbacks, we examine the impact of default on growth by looking at quarterly data…
Institution partenaire
Institut de hautes études internationales et du développement
/ 12/09/2016
Capital account liberalization, financial development and industry growth: a synthetic view
This paper synthesizes previous studies analyzing the effects of capital account liberalization on industry growth while controlling for financial crises, domestic financial development and the strength of institutions. We find reasonably strong evidence that financial openness has positive effects on the growth of financially-dependent industries, although these growth-enhancing…
Institution partenaire
Institut de hautes études internationales et du développement
/ 09/09/2016
Eurozone crisis: it’s about demand, not competitiveness
Institution partenaire
Institut de hautes études internationales et du développement
/ 09/09/2016
Can countries rely on foreign saving for investment and economic development?
A surprisingly large number of countries have been able to finance a significant fraction of domestic investment using foreign finance for extended periods. While many of these episodes are in low-income countries where official finance is more important than private finance, this paper also identifies a number of episodes where a substantial fraction of domestic investment was…
Institution partenaire
Institut de hautes études internationales et du développement
English / 29/08/2016
Making the next billion demand access: the local content effect of google.co.za in Setswana
Recent attempts to connect the current ‘next billion’ to the Internet in places such as sub-Saharan Africa have not met expectations. In places where Internet infrastructure has come online and prices have gone down, the expected consequent increase in uptake was not observed. I develop a framework that incorporates language in the the two-sided markets framework, viewing differences…
Institution partenaire
Institut de hautes études internationales et du développement
English / 24/08/2016
Firm response to competitive shocks: evidence from Chinas minimum wage policy
The large regional variation of minimum wage changes in 2002—08 implies that Chinese manufacturing firms experienced competitive shocks as a function of firm location and their low-wage employment share. We find that minimum wage hikes accelerate the input substitution from labor to capital in low-wage firms, reduce employment growth, but also accelerate total factor productivity…
Institution partenaire
Institut de hautes études internationales et du développement
/ 24/08/2016
Saving China's stock market
What were the economic benefits and costs of preventing a stock market meltdown during the summer of 2015 by the Chinese government intervention? We answer this question by estimating the value creation for the stocks purchased by the government between the period starting with the market crash in mid-June and the market recovery in September. We find that the government intervention…
Institution partenaire
Institut de hautes études internationales et du développement
/ 24/08/2016
The IMF’s role in Greece in the context of the 2010 stand-by arrangement
In April 2010, Greece became the first euro area country to request financial support from the IMF. The IMF joined the European Commission (EC) and the European Central Bank (ECB)—thus constituting what informally came to be known as the troika—in providing emergency financing, with the Fund’s contribution taking the form of a €30 billion three-year Stand-By Arrangement (SBA)…
Institution partenaire
Institut de hautes études internationales et du développement
/ 23/08/2016
Brexit Beckons: thinking ahead by leading economists
Institution partenaire
Institut de hautes études internationales et du développement
/ 23/08/2016
Does ethnic diversity decrease economic interactions? Evidence from exchange networks in rural Gambia
Using a unique dataset collected in 59 rural Gambian villages, we study how ethnic heterogeneity is related to the structure of four economic exchange networks: land, labor, inputs and credit. We find that different measures of village-level ethnic fragmentation are mostly uncorrelated with network structure. At a more disaggregated level, household heads belonging to ethnic…
Institution partenaire
Institut de hautes études internationales et du développement
/ 23/08/2016
Dynamic mean preserving spreads
We extend the celebrated Rothschild and Stiglitz (1970) definition of Mean Preserving Spreads to scalar diffusion processes. We provide sufficient conditions under which a family of diffusion processes satisfies the dynamic counterparts to the famous Rothschild and Stiglitz integral conditions. We prove that the only Brownian bridge with non-constant drift that displays the Dynamic…
Institution partenaire
Institut de hautes études internationales et du développement
/ 23/08/2016
Testing for the best instrument to generate sustainable food consumption
The increase in the level of greenhouse gas (GHG) emissions in the atmosphere in the last centuries, and the subsequent increase in temperature, has been a widely studied area in the last few decades. Climate change has become a key item on the political agenda due to concerns regarding the sustainability of current human consumption for future generations. Consumption of food and…
Institution partenaire
Institut de hautes études internationales et du développement
/ 15/06/2016
Economic growth and agricultural land conversion under uncertain productivity improvements in agriculture
We study how stochasticity in the evolution of agricultural productivity interacts with economic and population growth, and the associated demand for food. We use a two-sector Schumpeterian model of growth, in which a manufacturing sector produces the traditional consumption good and an agricultural sector produces food to sustain contemporary population. In addition, sectors differ…
Institution partenaire
Institut de hautes études internationales et du développement
/ 15/06/2016
Do foreign demand shocks impact company sales in France?
An interaction can be observed between a company’s level of exports and its domestic sales. Estimates made using data on French companies show that a 10% increase (decrease) in exports is accompanied, in the same year, by a 1% to 3% increase (decrease) in domestic sales. This strong interaction between sales in different markets can result from short-term funding constraints that…
Institution partenaire
Institut de hautes études internationales et du développement
/ 30/05/2016
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