Encontrados 13 documentos, a visualizar página 1 de 2
How does political instability affect economic growth?
Aisen, Ari; Veiga, Francisco JoséThe purpose of this paper is to empirically determine the effects of political instability on economic growth. Using the system-GMM estimator for linear dynamic panel data models on a sample covering up to 169 countries, and 5-year periods from 1960 to 2004, we find that higher degrees of political instability are associated with lower growth rates of GDP per capita. Regarding the channels of transmission, we f...
How does political instability affect economic growth?
Aisen, Ari; Veiga, Francisco JoséThe purpose of this paper is to empirically determine the effects of political instability on economic growth. Using the system-GMM estimator for linear dynamic panel data models on a sample covering up to 169 countries, and 5-year periods from 1960 to 2004, we find that higher degrees of political instability are associated with lower growth rates of GDP per capita. Regarding the channels of transmission, we f...
The political economy of seigniorage
Aisen, Ari; Veiga, Francisco JoséWhile most economists agree that seigniorage is one way governments finance deficits, there is less agreement about the political, institutional and economic reasons for relying on it. This paper investigates the main political and institutional determinants of seigniorage using panel data on about 100 countries, for the period 1960–1999. Estimates show that greater political instability leads to higher seignio...
Political instability and inflation volatility
Aisen, Ari; Veiga, Francisco JoséThe views expressed in this paper are those of the authors and do not necessarily represent those of the IMF or IMF policy. ; The purpose of this paper is to empirically analyze the effects of political instability, social polarization and the quality of institutions on inflation volatility over time and across countries. Using the system-GMM estimator for linear dynamic panel data models on a sample covering ...
The political economy of seigniorage
Aisen, Ari; Veiga, Francisco JoséWhile most economists agree that seigniorage is one way governments finance deficits, there is less agreement about the political, institutional and economic reasons for relying on it. This paper investigates the main political and institutional determinants of seigniorage using panel data on about 100 countries, for the period 1960-1999. Estimates show that greater political instability leads to higher seignio...
Political instability and inflation volatility
Veiga, Francisco José; Aisen, AriThe purpose of this paper is to empirically determine the causes of the worldwide diversity of inflation volatility. We show that higher degrees of political instability, ideological polarization and political fragmentation are associated with higher inflation volatility.
Does political instability lead to higher inflation? a panel data analysis
Veiga, Francisco José; Aisen, AriThe main purpose of this paper is to empirically determine the main causes of the worldwide diversity of inflationary experiences, a challenge not yet satisfactorily confronted by the profession for two fundamental reasons. First, empirical models explaining inflation in the literature generally fail to account for inflation inertia and for the endogeneity of important economic and political variables affecting...
The political economy of seigniorage
Veiga, Francisco José; Aisen, AriWhile most economists agree that seigniorage is one way governments finance deficits, there is less agreement about the political, institutional and economic reasons for relying on it. This paper investigates the main determinants of seigniorage using panel data on about 100 countries, for the period 1960-1999. Estimates show that greater political instability leads to higher seigniorage, especially in developi...
Does political instability lead to higher inflation? a panel data analysis
Veiga, Francisco José; Aisen, AriEconomists generally accept the proposition that high inflation rates generate inefficiencies that reduce society’s welfare and economic growth. However, determining the causes of the worldwide diversity of inflationary experiences is an important challenge not yet satisfactorily confronted by the profession. Based on a dataset covering around 100 countries for the period 1960-1999 and using modern panel data e...
Does political instability lead to higher inflation? a panel data analysis
Veiga, Francisco José; Aisen, AriEconomists generally accept the proposition that high inflation rates generate inefficiencies that reduce society’s welfare and economic growth. However, determining the causes of the worldwide diversity of inflationary experiences is an important challenge not yet satisfactorily confronted by the profession. Based on a dataset covering around 100 countries for the period 1960-1999 and using modern panel data e...
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