| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6477 |
| DP6477 The Output Cost of Gender Discrimination: A Model-Based Macroeconomic Estimate | |
| José Tavares; Tiago Cavalcanti | |
| 发表日期 | 2007-09-28 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | There is a large and growing literature that studies the effects of weak enforcement institutions on economic performance. This literature has focused almost exclusively on primary markets, in which assets are issued and traded to improve the allocation of investment and consumption. The general conclusion is that weak enforcement institutions impair the workings of these markets, giving rise to various inefficiencies. But weak enforcement institutions also create incentives to develop secondary markets, in which the assets issued in primary markets are retraded. This paper shows that trading in secondary markets counteracts the effects of weak enforcement institutions and, in the absence of further frictions, restores efficiency. |
| 主题 | International Macroeconomics |
| 关键词 | Default Enforcement Secondary markets Sovereign risk Weak law enforcement |
| URL | https://cepr.org/publications/dp6477 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535325 |
| 推荐引用方式 GB/T 7714 | José Tavares,Tiago Cavalcanti. DP6477 The Output Cost of Gender Discrimination: A Model-Based Macroeconomic Estimate. 2007. |
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