| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6831 |
| DP6831 Genuine Saving and the Voracity Effect | |
| Frederick van der Ploeg | |
| 发表日期 | 2008-05-18 |
| 出版年 | 2008 |
| 语种 | 英语 |
| 摘要 | Ferguson and Schularick (2006) recently provided a measure of the effect of Empire subjection on borrowing countries? interest rates. They find this effect to be large and significant, ranging between 80 to 180 basis points. We argue that their methodology is inadequate and that their estimates are biased. The reason is that Empire subjection did not affect borrowing conditions at the margin, as they assume, but structurally. We also develop a new approach of the incidence of colonial rule on market access. It suggests that the benefits of Empire were unevenly distributed. It shows that the main incidence of colonial rule was to create financial incentives to adopt development policies that encouraged government spending. |
| 主题 | International Macroeconomics |
| 关键词 | Bond spreads Credibility Development Empire Institutions Legal frameworks |
| URL | https://cepr.org/publications/dp6831 |
| 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/535660 |
| 推荐引用方式 GB/T 7714 | Frederick van der Ploeg. DP6831 Genuine Saving and the Voracity Effect. 2008. |
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