Despite a widespread fascination with the so called compensation hypothesis – i.e. the proposition that governments have to provide insurance against the risks of open markets to make integration into the international economy politically feasible – there appears to exist a complete lack of research where a rather straightforward implication of this theoretical mechanism is concerned, namely that liberalization of the trade regime should become more likely with a larger public sector and more social spending already in place. In this paper, we test this hypothesis that can be regard as a complement to existing research on the compensation hypothesis. We draw on a theoretical model that links an individual's (uncertain) assessment of her future position in a liberalized economy to her support for government liberalization policies. By reducing uncertainty, diffusing gains among a larger set of individuals and rendering compensation promises more credible ex ante developed institutions of redistribution and economic insurance are argued to increase support for reforms towards free trade and thereby make liberalization more likely. We test the proposition that trade liberalization is facilitated by higher public spending empirically (a) on data on the evolution of average tariff rates in 20 post-World War II OECD democracies from 1951 to 1993 and (b) by leveraging data on major liberalization episodes from 1950 onwards in a global sample of democratic countries through event history analysis. Overall, we find no support for the hypothesis suggested by the compensation logic that public spending facilitates reforms towards free trade.
{"title":"Public Spending and Trade Liberalization: The Compensation Hypothesis Revisited","authors":"Christian W. Martin, Nils D. Steiner","doi":"10.2139/ssrn.2245595","DOIUrl":"https://doi.org/10.2139/ssrn.2245595","url":null,"abstract":"Despite a widespread fascination with the so called compensation hypothesis – i.e. the proposition that governments have to provide insurance against the risks of open markets to make integration into the international economy politically feasible – there appears to exist a complete lack of research where a rather straightforward implication of this theoretical mechanism is concerned, namely that liberalization of the trade regime should become more likely with a larger public sector and more social spending already in place. In this paper, we test this hypothesis that can be regard as a complement to existing research on the compensation hypothesis. We draw on a theoretical model that links an individual's (uncertain) assessment of her future position in a liberalized economy to her support for government liberalization policies. By reducing uncertainty, diffusing gains among a larger set of individuals and rendering compensation promises more credible ex ante developed institutions of redistribution and economic insurance are argued to increase support for reforms towards free trade and thereby make liberalization more likely. We test the proposition that trade liberalization is facilitated by higher public spending empirically (a) on data on the evolution of average tariff rates in 20 post-World War II OECD democracies from 1951 to 1993 and (b) by leveraging data on major liberalization episodes from 1950 onwards in a global sample of democratic countries through event history analysis. Overall, we find no support for the hypothesis suggested by the compensation logic that public spending facilitates reforms towards free trade.","PeriodicalId":70912,"journal":{"name":"政治经济学季刊","volume":"10 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2013-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84735533","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2013-04-01DOI: 10.1111/j.1467-9442.2012.01733.x
M. Beine, S. Salomone
In this paper, we analyze the impact that networks have on the structure of international migration flows. In particular, we investigate whether diaspora externalities are different across education levels and gender. Using new data that include both dimensions, we analyze the respective impact that networks have on the proportion of each category of migrant. Therefore, in contrast to the preceding body of literature on the macro determinants of international migration, we can identify the factors that influence the selection in terms of skills and in terms of gender. We find that network effects vary by education level, but not by gender.
{"title":"Network Effects in International Migration: Education Versus Gender","authors":"M. Beine, S. Salomone","doi":"10.1111/j.1467-9442.2012.01733.x","DOIUrl":"https://doi.org/10.1111/j.1467-9442.2012.01733.x","url":null,"abstract":"In this paper, we analyze the impact that networks have on the structure of international migration flows. In particular, we investigate whether diaspora externalities are different across education levels and gender. Using new data that include both dimensions, we analyze the respective impact that networks have on the proportion of each category of migrant. Therefore, in contrast to the preceding body of literature on the macro determinants of international migration, we can identify the factors that influence the selection in terms of skills and in terms of gender. We find that network effects vary by education level, but not by gender.","PeriodicalId":70912,"journal":{"name":"政治经济学季刊","volume":"52 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2013-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82097926","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We argue that the rise of regionalism reflects a world polity theory (WPT) logic, whereby it is legitimated and promoted through amendments to the "script of statehood" by credentialed experts, ritually and isomorphically taken up by states as a function of their need for legitimacy, and enacted and reproduced notwithstanding profound decoupling between embraced and realized goals. We test and find support for these claims on the empirical terrain defined by regional trade agreements (RTAs), using a variety of data and methods. While political economy models have much to tell us about the rise of regionalism, the sociological dynamics of this and related processes of institutional change deserve heightened attention in an increasingly integrated world polity.
{"title":"Regionalism in the World Polity","authors":"Joseph. Jupille, Brandy J. Jolliff, Stefan Wojcik","doi":"10.2139/ssrn.2242500","DOIUrl":"https://doi.org/10.2139/ssrn.2242500","url":null,"abstract":"We argue that the rise of regionalism reflects a world polity theory (WPT) logic, whereby it is legitimated and promoted through amendments to the \"script of statehood\" by credentialed experts, ritually and isomorphically taken up by states as a function of their need for legitimacy, and enacted and reproduced notwithstanding profound decoupling between embraced and realized goals. We test and find support for these claims on the empirical terrain defined by regional trade agreements (RTAs), using a variety of data and methods. While political economy models have much to tell us about the rise of regionalism, the sociological dynamics of this and related processes of institutional change deserve heightened attention in an increasingly integrated world polity.","PeriodicalId":70912,"journal":{"name":"政治经济学季刊","volume":"26 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2013-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85652109","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Regionalization and globalization are forms of business internationalization that differ in terms of their frequency and market distribution. There are more frequent examples of companies, and of entire economies, which have internationalized business in a regional direction, as compared to those that have globalized their businesses. Each regionalization and globalization is also at the same time the internationalization of business, while only some internationalization is also the globalization of business. The paper will take a detailed look at the position of the Croatian economy and some of its segments undergoing internationalization. The research shows how the Croatian economy offers an example of regionalization. The EU market is exceptionally important as a region for the Croatian economy. This can be supported by the market movement of the Croatian exchange of goods, import-export, foreign investment in the Croatian economy, contribution of regions like the EU with Croatian tourist results, and trading companies and their origin in the process of the internationalization of the Croatian distributive market.
{"title":"The Internationalization and Integration of the Croatian Economy through Regionalization","authors":"N. Knego","doi":"10.2139/ssrn.2237934","DOIUrl":"https://doi.org/10.2139/ssrn.2237934","url":null,"abstract":"Regionalization and globalization are forms of business internationalization that differ in terms of their frequency and market distribution. There are more frequent examples of companies, and of entire economies, which have internationalized business in a regional direction, as compared to those that have globalized their businesses. Each regionalization and globalization is also at the same time the internationalization of business, while only some internationalization is also the globalization of business. The paper will take a detailed look at the position of the Croatian economy and some of its segments undergoing internationalization. The research shows how the Croatian economy offers an example of regionalization. The EU market is exceptionally important as a region for the Croatian economy. This can be supported by the market movement of the Croatian exchange of goods, import-export, foreign investment in the Croatian economy, contribution of regions like the EU with Croatian tourist results, and trading companies and their origin in the process of the internationalization of the Croatian distributive market.","PeriodicalId":70912,"journal":{"name":"政治经济学季刊","volume":"5 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2013-03-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85722382","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In this article Central European Countries are ranked depending on how attractive they are to international companies for investment. In the process of managerial decision-making about investment, companies mostly use statistical data published by international institutions. Such wide and heterogeneous set of quantitative and qualitative information need to be compared and analyzed systematically, and it can be done by using the method of Analytical Hierarchy Process (AHP). An estimation is performed considering two important aspects simultaneously – the level of institutional reforms being realized and the level of economic performances attained by an individual country.
{"title":"Attractiveness of Central European Transitional Countries for Foreign Investment","authors":"Ljiljana Lovrić, Vinko Kandžija, Jelena Babić","doi":"10.2139/ssrn.2237931","DOIUrl":"https://doi.org/10.2139/ssrn.2237931","url":null,"abstract":"In this article Central European Countries are ranked depending on how attractive they are to international companies for investment. In the process of managerial decision-making about investment, companies mostly use statistical data published by international institutions. Such wide and heterogeneous set of quantitative and qualitative information need to be compared and analyzed systematically, and it can be done by using the method of Analytical Hierarchy Process (AHP). An estimation is performed considering two important aspects simultaneously – the level of institutional reforms being realized and the level of economic performances attained by an individual country.","PeriodicalId":70912,"journal":{"name":"政治经济学季刊","volume":"34 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2013-03-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90569154","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Trade secrets have historically been difficult to enforce, and enforcement is even more difficult for U.S. companies when the violations occur in foreign countries over which the United States may not have jurisdiction. China, for example, has rates of intellectual property (“IP”) infringement that are “among the highest in the world,” yet provides little recourse for foreign IP owners. Ineffective criminal regulations for IP infringement, as well as a lack of necessary judicial training and a tendency to award insufficient damages, make China a difficult forum in which to litigate. Even when a U.S. court enters a judgment against a Chinese company who misappropriated or infringed a U.S. company’s IP, “[t]he prospects are not promising for having a judgment entered by a U.S. court enforced by a court in China.” In a recent significant case, the Court of Appeals for the Federal Circuit upheld the U.S. International Trade Commission’s (“ITC”) determination that the United States can block goods originating from a respondent that misappropriated trade secrets to make the items, even if the acts of misappropriation occurred entirely abroad and the misappropriated trade secrets are not being practiced by any U.S. entity. This avenue for blocking infringing products from entering the United States, based on the newly announced qualifications for a § 337 complaint, has increased the chances for domestic trade secret owners to meet the ITC’s jurisdictional requirements and prevail in an unfair competition investigation. Part II of this Note assesses the historical and modern landscape of trade secret enforcement. Section II.A lays out the unique traits of trade secrets that make them difficult to enforce, and Section II.B describes the functions and authority of the ITC that may make it a more viable forum than district courts for enforcing trade secret owners’ rights. Part III discusses the facts and significance of the Federal Circuit’s decision in TianRui v. USITC, in which the ITC and, subsequently, the Federal Circuit addressed two important questions of first impression — whether the ITC has authority over the unfair methods of competition caused by the alleged trade secret misappropriation occurring entirely abroad, and whether the importation of infringing goods would injure a domestic industry when the complainant was not using the trade secret domestically. Part IV analyzes the legal environment for trade secret enforcement after TianRui. Section IV.A provides a comparison of jurisdictional requirements for district courts versus the ITC, and Section IV.B compares the features and availability of remedies in these two different forums. Part V predicts that trade secret filings before the ITC will increase after TianRui due to the ITC’s liberal interpretation of the domestic industry requirement.
{"title":"Trade Secret Enforcement after Tianrui: Fighting Misappropriation through the ITC","authors":"Natalie Flechsig","doi":"10.15779/Z38PQ6C","DOIUrl":"https://doi.org/10.15779/Z38PQ6C","url":null,"abstract":"Trade secrets have historically been difficult to enforce, and enforcement is even more difficult for U.S. companies when the violations occur in foreign countries over which the United States may not have jurisdiction. China, for example, has rates of intellectual property (“IP”) infringement that are “among the highest in the world,” yet provides little recourse for foreign IP owners. Ineffective criminal regulations for IP infringement, as well as a lack of necessary judicial training and a tendency to award insufficient damages, make China a difficult forum in which to litigate. Even when a U.S. court enters a judgment against a Chinese company who misappropriated or infringed a U.S. company’s IP, “[t]he prospects are not promising for having a judgment entered by a U.S. court enforced by a court in China.” In a recent significant case, the Court of Appeals for the Federal Circuit upheld the U.S. International Trade Commission’s (“ITC”) determination that the United States can block goods originating from a respondent that misappropriated trade secrets to make the items, even if the acts of misappropriation occurred entirely abroad and the misappropriated trade secrets are not being practiced by any U.S. entity. This avenue for blocking infringing products from entering the United States, based on the newly announced qualifications for a § 337 complaint, has increased the chances for domestic trade secret owners to meet the ITC’s jurisdictional requirements and prevail in an unfair competition investigation. Part II of this Note assesses the historical and modern landscape of trade secret enforcement. Section II.A lays out the unique traits of trade secrets that make them difficult to enforce, and Section II.B describes the functions and authority of the ITC that may make it a more viable forum than district courts for enforcing trade secret owners’ rights. Part III discusses the facts and significance of the Federal Circuit’s decision in TianRui v. USITC, in which the ITC and, subsequently, the Federal Circuit addressed two important questions of first impression — whether the ITC has authority over the unfair methods of competition caused by the alleged trade secret misappropriation occurring entirely abroad, and whether the importation of infringing goods would injure a domestic industry when the complainant was not using the trade secret domestically. Part IV analyzes the legal environment for trade secret enforcement after TianRui. Section IV.A provides a comparison of jurisdictional requirements for district courts versus the ITC, and Section IV.B compares the features and availability of remedies in these two different forums. Part V predicts that trade secret filings before the ITC will increase after TianRui due to the ITC’s liberal interpretation of the domestic industry requirement.","PeriodicalId":70912,"journal":{"name":"政治经济学季刊","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2013-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79917490","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Investors diversify their portfolios to boost returns and manage risk. However, the benefits of diversifying across geographic regions are reduced if markets are highly correlated. This paper examines trends over the past two decades and finds, as expected from global market integration, that regional indices have become increasingly correlated with the S&P 500 index. Sub-Saharan Africa is also part of this trend, but is a notable laggard. For instance, in 2010 the correlation with the S&P500 was 0.86 for markets in Latin America, 0.79 for Asia, and just 0.31 for sub-Saharan markets (excluding South Africa). Additionally, correlations among African markets are generally very low. While there remain barriers to exploiting this trend, Africa’s integration lag may present opportunities for investors seeking regional diversification—and policymakers seeking to attract greater portfolio investment to the continent.
{"title":"Nowhere Left to Hide? Stock Market Correlation, Regional Diversification, and the Case for Investing in Africa","authors":"Todd J. Moss, R. Thuotte","doi":"10.2139/ssrn.2233520","DOIUrl":"https://doi.org/10.2139/ssrn.2233520","url":null,"abstract":"Investors diversify their portfolios to boost returns and manage risk. However, the benefits of diversifying across geographic regions are reduced if markets are highly correlated. This paper examines trends over the past two decades and finds, as expected from global market integration, that regional indices have become increasingly correlated with the S&P 500 index. Sub-Saharan Africa is also part of this trend, but is a notable laggard. For instance, in 2010 the correlation with the S&P500 was 0.86 for markets in Latin America, 0.79 for Asia, and just 0.31 for sub-Saharan markets (excluding South Africa). Additionally, correlations among African markets are generally very low. While there remain barriers to exploiting this trend, Africa’s integration lag may present opportunities for investors seeking regional diversification—and policymakers seeking to attract greater portfolio investment to the continent.","PeriodicalId":70912,"journal":{"name":"政治经济学季刊","volume":"2606 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2013-03-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90927834","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Bu makalede son donemde ABD de konut sektorunde fiyatlarin “balon etkisi” (konut fiyatlarinin yapay olarak asiri yukselmesi) neticesinde patlak veren ve kisa surede tum dunya ulkeleri uzerinde etkili olan Global Finansal Krize sebebiyet veren faktorler (iktisadi ve iktisat-disi faktorler sabit olmakla birlikte) arasinda ozellikle son donemde ekonomistlerin oldukca ilgisini cekmeye baslayan ve global ekonomik krizin onemli sebeplerinden birisi olarak ifade edilebilecek olan ve spesifik olarak krizin derinlesmesinde cok onemli rol oynayan “guven bunalimi” veya “guven krizi” gibi kavramlar cercevesinde konu analiz edilmektedir. Ayrica kriz sonrasi devam eden surecte petrol fiyatlarindaki keskin dusus ve dolarin deger kazanmasina sebep olan faktorler kisaca analiz edilerek, krizden cikis yollari ve krizin Azerbaycan uzerindeki muhtemel etkileri temel makroekonomik argumanlar cercevesinde irdelenmektedir.. Aslinda guven eksikligi ekonomide “vicous circle” olarak ifade edilen kisir donguye yol acarak finansal sistemi islevsiz hale getirmistir. Guven bunalimi ve belirsizlik suratle reel sektore de yansimis ve butun dunyayi saran bir ekonomik krize donusmustur. This paper analyses the global financial crises of 2008 in terms of loss of confidence and trust on financial economic system which has been one of the major non-economic factor causing and playing the significant role on financial crises of 2008 considering the fact that other economic factors remained unchanged. It also analyses the global financial crises possible effect on Azerbaijan Economy. Major economic players in economy such as investors and households have lost their confidence on financial system by paralysing the liberal free-market economy and thus Loss of Trust has been one of the major causes of Global financial crises.
{"title":"Global Finansal Krizin Sebepleri, Çıkış Yolları Ve Azerbaycan Ekonomisi Üzerindeki Etkileri (The Reasons of the Global Financial Crisis, the Way out of a Situation and the Effects on Azerbaijan Economy)","authors":"C. Bulut, Ayhan Guney","doi":"10.2139/SSRN.2229813","DOIUrl":"https://doi.org/10.2139/SSRN.2229813","url":null,"abstract":"Bu makalede son donemde ABD de konut sektorunde fiyatlarin “balon etkisi” (konut fiyatlarinin yapay olarak asiri yukselmesi) neticesinde patlak veren ve kisa surede tum dunya ulkeleri uzerinde etkili olan Global Finansal Krize sebebiyet veren faktorler (iktisadi ve iktisat-disi faktorler sabit olmakla birlikte) arasinda ozellikle son donemde ekonomistlerin oldukca ilgisini cekmeye baslayan ve global ekonomik krizin onemli sebeplerinden birisi olarak ifade edilebilecek olan ve spesifik olarak krizin derinlesmesinde cok onemli rol oynayan “guven bunalimi” veya “guven krizi” gibi kavramlar cercevesinde konu analiz edilmektedir. Ayrica kriz sonrasi devam eden surecte petrol fiyatlarindaki keskin dusus ve dolarin deger kazanmasina sebep olan faktorler kisaca analiz edilerek, krizden cikis yollari ve krizin Azerbaycan uzerindeki muhtemel etkileri temel makroekonomik argumanlar cercevesinde irdelenmektedir.. Aslinda guven eksikligi ekonomide “vicous circle” olarak ifade edilen kisir donguye yol acarak finansal sistemi islevsiz hale getirmistir. Guven bunalimi ve belirsizlik suratle reel sektore de yansimis ve butun dunyayi saran bir ekonomik krize donusmustur. This paper analyses the global financial crises of 2008 in terms of loss of confidence and trust on financial economic system which has been one of the major non-economic factor causing and playing the significant role on financial crises of 2008 considering the fact that other economic factors remained unchanged. It also analyses the global financial crises possible effect on Azerbaijan Economy. Major economic players in economy such as investors and households have lost their confidence on financial system by paralysing the liberal free-market economy and thus Loss of Trust has been one of the major causes of Global financial crises.","PeriodicalId":70912,"journal":{"name":"政治经济学季刊","volume":"25 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2013-03-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90071270","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
There is a well-established literature analyzing the effects of fiscal institutions on fiscal policy variables such as budget deficits or accumulated government debt. We combine this literature with the emerging field of positive constitutional economics, which deals with the economic effects of constitutional rules. The paper addresses three questions: (1) Do budget provisions that are explicitly spelled out in a country's constitution have any significant effect on fiscal policy? (2) Does the transparency, or lack thereof, of the budget process have any significant effect on fiscal policy? and (3) Do these two variables have an impact on other variables such as government effectiveness and productivity? We find that constitutionally entrenched spending limits are correlated with lower total government expenditure and that the transparency of a nation's budget is correlated with higher government effectiveness as well as lower corruption. If anything, the deficit limits entrenched in the Maastricht Treaty are correlated with higher, rather than lower, overall government expenditure.
{"title":"The Economic Effects of Constitutional Budget Institutions","authors":"S. Voigt, L. Blume","doi":"10.2139/ssrn.1839428","DOIUrl":"https://doi.org/10.2139/ssrn.1839428","url":null,"abstract":"There is a well-established literature analyzing the effects of fiscal institutions on fiscal policy variables such as budget deficits or accumulated government debt. We combine this literature with the emerging field of positive constitutional economics, which deals with the economic effects of constitutional rules. The paper addresses three questions: (1) Do budget provisions that are explicitly spelled out in a country's constitution have any significant effect on fiscal policy? (2) Does the transparency, or lack thereof, of the budget process have any significant effect on fiscal policy? and (3) Do these two variables have an impact on other variables such as government effectiveness and productivity? We find that constitutionally entrenched spending limits are correlated with lower total government expenditure and that the transparency of a nation's budget is correlated with higher government effectiveness as well as lower corruption. If anything, the deficit limits entrenched in the Maastricht Treaty are correlated with higher, rather than lower, overall government expenditure.","PeriodicalId":70912,"journal":{"name":"政治经济学季刊","volume":"52 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2013-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85297581","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2013-03-01DOI: 10.1016/J.JIMONFIN.2013.06.018
J. Aizenman, G. Pasricha
{"title":"Why Do Emerging Markets Liberalize Capital Outflow Controls? Fiscal Versus Net Capital Flow Concerns","authors":"J. Aizenman, G. Pasricha","doi":"10.1016/J.JIMONFIN.2013.06.018","DOIUrl":"https://doi.org/10.1016/J.JIMONFIN.2013.06.018","url":null,"abstract":"","PeriodicalId":70912,"journal":{"name":"政治经济学季刊","volume":"237 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2013-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80389062","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}