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  1. Institutional integration and productivity growth: evidence from the 1995 enlargement of the European Union
    Erschienen: November 2021
    Verlag:  IZA - Institute of Labor Economics, Bonn, Germany

    This paper studies the productivity effects of integration deepening. The identification strategy exploits the 1995 European Union (EU) enlargement, when all candidate countries joined the Single Market but one - Norway - did not join the EU. Our... mehr

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    This paper studies the productivity effects of integration deepening. The identification strategy exploits the 1995 European Union (EU) enlargement, when all candidate countries joined the Single Market but one - Norway - did not join the EU. Our synthetic difference-in-differences estimates on sectoral and regional data suggest had Norway chosen deeper integration, the average Norwegian region would have experienced an increase in yearly productivity growth of about 0.6 percentage points. This method also helps determining the sources of heterogeneity, apparently inherent to integration, highlighting higher costs of the missed deeper integration for more peripheral regions and industrial sector.

     

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    Weitere Identifier:
    hdl: 10419/250495
    Schriftenreihe: Discussion paper series / IZA ; no. 14834
    Schlagworte: institutional integration; economic integration; productivity growth; European Union; European Economic Area
    Umfang: 1 Online-Ressource (circa 31 Seiten), Illustrationen
  2. The EU anchor thesis: transition from socialism, the institutional vacuum and membership in the European Union
    Autor*in: Campos, Nauro
    Erschienen: December 2021
    Verlag:  IZA - Institute of Labor Economics, Bonn, Germany

    One of the strongest stylized facts of the transition is also one of the most unexpected: after 1989 Central and Eastern European and Former Soviet Union countries diverged massively. Institutions are a main reason. The EU anchor thesis posits that... mehr

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    One of the strongest stylized facts of the transition is also one of the most unexpected: after 1989 Central and Eastern European and Former Soviet Union countries diverged massively. Institutions are a main reason. The EU anchor thesis posits that the prospect of membership in the European Union (EU) played a key role in filling in the institutional vacuum that followed the collapse of socialism. This chapter examines this thesis and assesses the relevant bodies of evidence, focusing on whether the prospect of EU membership accelerated institutional development and, if so, whether this was indeed associated with improved economic outcomes.

     

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    hdl: 10419/250585
    Schriftenreihe: Discussion paper series / IZA ; no. 14924
    Schlagworte: european integration; institutions
    Umfang: 1 Online-Ressource (circa 24 Seiten), Illustrationen
  3. Institutional integration and productivity growth
    evidence from the 1995 enlargement of the European Union
    Erschienen: 04 November 2021
    Verlag:  Centre for Economic Policy Research, London

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    Schriftenreihe: Array ; DP16696
    Schlagworte: Institutional integration; economic integration; Productivity Growth; European Union; European Economic Area
    Umfang: 1 Online-Ressource (circa 32 Seiten), Illustrationen
  4. Close encounters of the European kind: economic integration, sectoral heterogeneity and structural reforms
    Erschienen: September 2020
    Verlag:  CESifo, Center for Economic Studies & Ifo Institute, Munich, Germany

    This paper addresses two main questions: (a) Has European integration hindered the implementation of labour, financial and product market structural reforms? (b) Do the effects of these reforms vary more across sectors than across countries? Using... mehr

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    This paper addresses two main questions: (a) Has European integration hindered the implementation of labour, financial and product market structural reforms? (b) Do the effects of these reforms vary more across sectors than across countries? Using more granular reform measures, longer time windows and a larger sample of countries than previous studies, we confirm that the euro triggered product but neither labour nor financial market reforms. Differently from previous studies, we find that: (a) the Single Market has similar effects to the euro, and (b) sectoral heterogeneity appears less important in explaining the economic impacts of reforms than country heterogeneity.

     

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    hdl: 10419/226284
    Schriftenreihe: CESifo working paper ; no. 8582 (2020)
    Umfang: 1 Online-Ressource (circa 55 Seiten), Illustrationen
  5. Close encounters of the European kind: economic integration, sectoral heterogeneity and structural reforms
    Erschienen: September 2020
    Verlag:  IZA - Institute of Labor Economics, Bonn, Germany

    This paper addresses two main questions: (a) Has European integration hindered the implementation of labour, financial and product market structural reforms? (b) Do the effects of these reforms vary more across sectors than across countries? Using... mehr

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    This paper addresses two main questions: (a) Has European integration hindered the implementation of labour, financial and product market structural reforms? (b) Do the effects of these reforms vary more across sectors than across countries? Using more granular reform measures, longer time windows and a larger sample of countries than previous studies, we confirm that the euro triggered product but neither labour nor financial market reforms. Differently from previous studies, we find that: (a) the Single Market has similar effects to the euro, and (b) sectoral heterogeneity appears less important in explaining the economic impacts of reforms than country heterogeneity.

     

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    Weitere Identifier:
    hdl: 10419/227233
    Schriftenreihe: Discussion paper series / IZA ; no. 13706
    Umfang: 1 Online-Ressource (circa 55 Seiten), Illustrationen
  6. The effect on foreign direct investment of membership in the European Union
    Erschienen: September 2020
    Verlag:  IZA - Institute of Labor Economics, Bonn, Germany

    This paper explores the impact of EU membership on foreign direct investment (FDI). It analyses empirically how the effects of such deep integration differ from other forms and investigates what drives these effects. Using a structural gravity... mehr

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    This paper explores the impact of EU membership on foreign direct investment (FDI). It analyses empirically how the effects of such deep integration differ from other forms and investigates what drives these effects. Using a structural gravity framework on annual bilateral FDI data for almost every country in the world, over 1985-2018, we find EU membership leads FDI into the host economy to be about 60% higher for investment from outside the EU, and around 50% higher for intra-EU FDI. Moreover, we find that the effect of EU membership on FDI is larger than from membership of NAFTA, EFTA, or MERCOSUR, and that the Single Market is the cornerstone of this differential impact.

     

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    hdl: 10419/227195
    Schriftenreihe: Discussion paper series / IZA ; no. 13668
    Umfang: 1 Online-Ressource (circa 44 Seiten)
  7. The political u
    new evidence on democracy and income
    Erschienen: 29 September 2022
    Verlag:  Centre for Economic Policy Research, London

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    Auflage/Ausgabe: v. 2
    Schriftenreihe: Array ; DP17551
    Schlagworte: democracy; income; growth; political development; economicdevelopment; non-linearity
    Umfang: 1 Online-Ressource (circa 81 Seiten), Illustrationen
  8. The political U
    new evidence on democracy and income
    Erschienen: September 2022
    Verlag:  IZA - Institute of Labor Economics, Bonn, Germany

    This paper throws new light on the relationship between income and democracy. Using data for 162 countries over 1960-2018, we show that the causal relationship between political and economic development is U-shaped: "intermediate" political regimes... mehr

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    This paper throws new light on the relationship between income and democracy. Using data for 162 countries over 1960-2018, we show that the causal relationship between political and economic development is U-shaped: "intermediate" political regimes significantly lead to inferior economic performance vis-à-vis both "democracies" and "autocracies." Our results suggest "intermediate" regimes decrease long run GDP per capita by about 20 percent. These effects are mainly driven by political instability, while other potential mechanisms, such as education, investment and inequality, lack comparable empirical support. These findings are robust to, among others, using night-lights instead of GDP, different democracy measures and estimators.

     

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    hdl: 10419/265819
    Schriftenreihe: Discussion paper series / IZA ; no. 15598
    Schlagworte: democracy; income; growth; political development; economic development; non-linearity
    Umfang: 1 Online-Ressource (circa 80 Seiten), Illustrationen
  9. Financial crises and liberalization
    progress or reversals?
    Erschienen: [2019]
    Verlag:  Systemic Risk Centre, The London School of Economics and Political Science, London

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    Auflage/Ausgabe: This draft: 31 May 2019
    Schriftenreihe: SRC discussion paper ; no 90 (April 2019)
    Schlagworte: Finanzkrise; Finanzmarktregulierung; Wirtschaftsreform; Eurozone; EU-Staaten; Welt
    Umfang: 1 Online-Ressource (circa 53 Seiten), Illustrationen
  10. Brexit and the Euro
    Erschienen: March 2020
    Verlag:  National Institute of Economic and Social Research, London

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    Schriftenreihe: NIESR discussion paper ; no. 512 (12 March 2020)
    Umfang: 1 Online-Ressource (circa 26 Seiten), Illustrationen
  11. Financial crises and liberalisation
    progress or reversals?
    Erschienen: 03 June 2019
    Verlag:  Centre for Economic Policy Research, London

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    Schriftenreihe: Array ; DP13776
    Umfang: 1 Online-Ressource (circa 52 Seiten), Illustrationen
  12. Choosing institutional over economic integration
    are there growth effects?
    Erschienen: 21 July 2020
    Verlag:  Centre for Economic Policy Research, London

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    Schriftenreihe: Array ; DP15078
    Umfang: 1 Online-Ressource (circa 79 Seiten), Illustrationen
  13. Does reform work?: An econometric examination of the reform-growth puzzle
    Erschienen: 2007

    Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Unter den Linden
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    Quelle: Staatsbibliothek zu Berlin
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    Schriftenreihe: Working paper series / Czech National Bank ; 2007.2
    Schlagworte: Wirtschaftspolitik; Wirtschaftsreform; Unvollkommene Information; Wohlfahrtsanalyse; Wirtschaftswachstum; Welt
    Umfang: 29 S., graph. Darst., b
  14. Back to the future
    the growth prospects of transition economies reconsidered
  15. The growth-finance nexus in Brazil
    evidence from a new dataset, 1890-2003
    Erschienen: [2019]
    Verlag:  School of Economics and Finance, Queen Mary University of London, London

    This study revisits the growth-finance nexus using a new econometric approach and unique data set. In particular by employing the smooth transition framework and annual time series data for Brazil from 1890 to 2003, we attempt to address on the one... mehr

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    This study revisits the growth-finance nexus using a new econometric approach and unique data set. In particular by employing the smooth transition framework and annual time series data for Brazil from 1890 to 2003, we attempt to address on the one side, what is the relationship between financial development, trade openness, political instability and economic growth and, on the other, how it changes over time. The main finding is that financial development has a mixed positive and negative time-varying impact on economic growth, which significantly depends on jointly estimated trade openness thresholds. Moreover our estimates highlight a positive impact of trade openness on growth but with interesting variation regarding their size and power, whereas the e¤ect of political instability (both formal and informal) on growth is mainly negative. We also find that changes between regimes tend not to be smooth. Finally, our estimates show that in 57% of the years in which financial development has a below the mean e¤ect, we find that trade openness experiences a substantial above the mean change.

     

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    hdl: 10419/210442
    Schriftenreihe: Working paper / School of Economics and Finance, Queen Mary University of London ; no. 885 (March 2019)
    Umfang: 1 Online-Ressource (circa 59 Seiten), Illustrationen
  16. Financial crises and liberalization
    progress or reversals?
    Erschienen: June 2019
    Verlag:  IZA - Institute of Labor Economics, Bonn, Germany

    Financial crisis can trigger policy reversals, i.e. they can lead to a process of re- regulation of financial markets. Using a recent comprehensive dataset on financial liberalization across 94 countries for the period between 1973 and 2015, we... mehr

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    Financial crisis can trigger policy reversals, i.e. they can lead to a process of re- regulation of financial markets. Using a recent comprehensive dataset on financial liberalization across 94 countries for the period between 1973 and 2015, we formally test the validity of this prediction for the member states of the European Union as well as for a global sample. We contribute by (a) using a new up-to-date dataset of reforms and crises and (b) subjecting it to a combination of difference-in-differences and local projection estimations. In the global sample, our findings consistently confirm that crises lead to a reversal of liberal reforms, suggesting that governments react to crises by re-regulating financial markets. However, in a dynamic setting with impulse-responses, we also find that these new regulations are only temporary and a liberalization process restarts a few years after a financial crisis. One decade later, financial markets have returned to their pre-crisis level of liberalization. In the EU sample, however, we do not find sufficient evidence to support these observations.

     

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    Weitere Identifier:
    hdl: 10419/202739
    Schriftenreihe: Discussion paper series / IZA ; no. 12393
    Schlagworte: Finanzkrise; Finanzmarktregulierung; Wirtschaftsreform; Eurozone; EU-Staaten; Welt
    Umfang: 1 Online-Ressource (circa 51 Seiten), Illustrationen
  17. Financial crises and liberalization
    progress or reversals?
    Erschienen: [2019]
    Verlag:  [LSE Financial Markets Group], [London]

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    Auflage/Ausgabe: This draft: 31 May 2019
    Schriftenreihe: [FMG discussion paper] ; [DP 788]
    SRC discussion paper ; no 90 (July 2019)
    Schlagworte: Finanzkrise; Finanzmarktregulierung; Wirtschaftsreform; Eurozone; EU-Staaten; Welt
    Umfang: 1 Online-Ressource (circa 53 Seiten), Illustrationen
  18. Close encounters of the European kind
    economic integration, sectoral heterogeneity and structural reforms
    Erschienen: 2020-06
    Verlag:  KOF, Zurich, Switzerland

    This paper addresses two main questions: (a) Has European integration hindered the implementation of labour, financial and product market structural reforms? (b) Do the effects of these reforms vary more across sectors than across countries? Using... mehr

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    This paper addresses two main questions: (a) Has European integration hindered the implementation of labour, financial and product market structural reforms? (b) Do the effects of these reforms vary more across sectors than across countries? Using more granular reform measures, longer time windows and a larger sample of countries than previous studies, we confirm that the euro triggered product but neither labour nor financial market reforms. Differently from previous studies, we find that: (a) the Single Market has similar effects to the euro, and (b) sectoral heterogeneity appears less important in explaining the economic impacts of reforms than country heterogeneity.

     

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    Weitere Identifier:
    hdl: 20.500.11850/423548
    hdl: 10419/235096
    Schriftenreihe: KOF working papers ; no. 482 (June 2020)
    Umfang: 1 Online-Ressource (circa 73 Seiten), Illustrationen
  19. Back to the future
    the growth prospects of transition economies reconsidered
    Autor*in: Campos, Nauro
    Erschienen: 2000
    Verlag:  CEPR, London

    Informationszentrum der Deutschen Gesellschaft für Auswärtige Politik e.V.
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    Europa-Universität Viadrina, Universitätsbibliothek
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    RVK Klassifikation: QB 910
    Schriftenreihe: Centre for Economic Policy Research <London>: Discussion paper series ; 2654 : Transition economics
    Schlagworte: Economics, economic history and consumer affairs; Wirtschaft
    Umfang: 29 S.
  20. Do stock markets promote economic growth?

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    Schriftenreihe: Discussion paper series / CERGE-EI ; 51
    Schlagworte: Aktienmarkt; Wirtschaftswachstum; Theorie; Schätzung; Welt
    Umfang: 21 S
  21. The s(t)igmas of transition: can reallocation (of labor and capital) explain the output fall?
    Erschienen: 2000

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    Schriftenreihe: Discussion paper series / CERGE-EI ; 52
    Schlagworte: Allokation; Bruttoinlandsprodukt; Systemtransformation; Erwerbstätigkeit; Substitutionselastizität; Theorie
    Umfang: 19 S
  22. The wrong mix: a first look at occupational mobility during the Hungarian transition
    Erschienen: 2001

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    Schriftenreihe: Discussion paper series / CERGE-EI ; 56
    Schlagworte: Arbeitsmobilität; Systemtransformation; Ungarn
    Umfang: 69 S
  23. So many rocket scientists, so few marketing clerks: determinants and impact of occupational change during the Estonian transition
    Erschienen: 2001

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    Schriftenreihe: Discussion paper series / CERGE-EI ; 59
    Schlagworte: Arbeitsmobilität; Systemtransformation; Estland
    Umfang: 53 S
  24. Do stock markets promote economic growth?

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    Schriftenreihe: The Davidson Institute working paper series ; 267
    Schlagworte: Aktienmarkt; Wirtschaftswachstum; Theorie; Schätzung; Welt
    Umfang: 22 S
  25. Context is everything
    measuring institutional change in transition economies
    Autor*in: Campos, Nauro
    Erschienen: 2000
    Verlag:  World Bank, Development Economics Senior Vice Presidency, Development Policy, Washington, DC

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    Schriftenreihe: Policy research working paper ; 2269
    Schlagworte: Institutioneller Wandel; Systemtransformation; Theorie; Osteuropa; Governance-Ansatz
    Umfang: 38 S
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