Finance and Growth: A Synthesis of Trade and Investment Related Transmission Mechanisms † (2005)
Felix Eschenbach, Joseph F. Francois
Abstract:: We review the literature on the finance-growth nexus, replicate earlier findings, and extend and modify the existing econometric crosscountry framework, distinguishing between trade- and...
The impact of banks and assets markets on economic growth and fiscal stability / (2004)
Thesis (doctoral)--Erasmus Universiteit Rotterdam, 2004.
Services Policies in Transition Economies: On the EU and WTO as Commitment Mechanisms
Eschenbach, Felix, Hoekman, Bernard
We analyze the extent to which the EU-15 and 16 transition economies used the WTO General Agreement on Trade in Services (GATS) to commit to service sector policy reforms. GATS commitments are...
Services Policy Reform and Economic Growth in Transition Economies, 1990-2004
Eschenbach, Felix, Hoekman, Bernard
Major changes have occurred in the structure of former centrally planned economies, including a sharp rise in the share of services in GDP, employment and international transactions. However, large...
Budgetary risks from real estate and stock markets
Felix Eschenbach, Ludger Schuknecht
"Fiscal revenues and government expenditures are affected by asset price changes in ways that are not accounted for by standard cyclical-adjustment methods. Revenues are influenced by capital gains...
Services policies in transition economies: on the EU and WTO as commitment mechanisms
ESCHENBACH, FELIX, HOEKMAN, BERNARD
We analyze the extent to which the EU-15 and 16 transition economies used the WTO General Agreement on Trade in Services (GATS) to commit to service sector policy reforms. GATS commitments are...
Nora Dihel, Felix Eschenbach, Ben Shepherd
This paper contributes to the debate on the development potential of South-South trade in services. It represents the first attempt to identify key features governing the South-South dimension of...
Sensitivity analysis of volatility: a new tool for risk management.
Ludger Schuknecht, Felix Eschenbach
This paper conducts a comprehensive analysis of the fiscal costs of financial instability (defined as major asset price changes and including, as extreme cases, financial crises). The study...
Services policy reform and economic growth in transition economies, 1990-2004
Eschenbach, Felix, Hoekman, Bernard
Major changes have occurred in the structure of former centrally planned economies, including a sharp rise in the share of services in GDP, employment, and international transactions. However, large...
Eschenbach, Felix, Hoekman, Bernard
The authors analyze the extent to which the EU-15 and 16 transition economies used the WTO General Agreement on Trade in Services (GATS) to commit to service sector policy reforms. They compare GATS...
Asset prices and fiscal balances.
Ludger Schuknecht, Felix Eschenbach
The paper argues that there are important links between asset prices and public finances which can strongly affect the variability of fiscal balances. Asset prices affect fiscal balances via capital...
Financial Sector Competition, Service Trade, and Growth
Joseph F. Francois, Felix Eschenbach
We explore dynamic linkages between financial/banking sector openness, financial sector competition, and growth. We first develop an analytical model, highlighting links between long-run economic...
Finance and Growth: A Survey of the Theoretical and Empirical Literature
This paper reviews the theoretical and empirical literature on links between domestic financial development and economic growth. It starts with the pioneers in this field and then classifies two main...
Financial Sector Competition, Services Trade, and Growth
Eschenbach, Felix, Francois, Joseph
We explore dynamic linkages between financial/banking sector openness, financial sector competition, and growth. We first develop an analytical model, highlighting links between long-run economic...
Services Policy Reform and Economic Growth in Transition Economies
Felix Eschenbach, Bernard Hoekman
Services, economic growth, transition economies,