Ideas taught at the Macroeconomics Principles level should satisfy two goals. First, they should be simple enough to be both understandable and memorable for the beginning student. Second, they should be consistent both with the modern economy and with the macroeconomic models of this econonly that are used in practice for policy evaluation. There is no necessary conflict between these two goal...

Financial systems reform and corporate reform are deeply intertwined and thus are best addressed simultaneously and comprehensively. Indonesia is seeking to do this by developing rules, institutions, and mechanisms to achieve good corporate governance, while working to build an effectively functioning financial system that facilitates good corporate governance. This paper explores this quest in...

Nation's banking network has an important role in aiming country's development goals due to the fact that nowadays banking and money has a sensitive and critical role in economic growth. Gathering and absorbing various kinds of deposits and allocating them to support financial needs are main purpose of the banking. In other words, banks are intermediates between depositors and facilities applic...

Why do private firms invest in innovation? Surely the answer to this question is related to the benefits that firms obtain from improving their technology or production processes. In particular, the rate of innovation has been traditionally linked to the capacity of firms to generate profits from these innovations. These profits, in turn, are used by firms to finance their investments in techno...

A rapid urban growth in China urges to extend land use to land space use in three dimensions due to limited land resource in cities. 3D cadastre is emerging as an effective means to support such a demands for using urban land in a way of three dimensions. Shenzhen, located in the south-eastern coastal region of China, as one of the most economically developed cities in China, has experienced a ...

In an influential paper, La Porta, Lopez-De-Silanes and Shleifer (2002) argued that public ownership of banks is associated with lower GDP growth. We show that this relationship does not hold for all countries, but depends on a country’s financial development and political institutions. Public ownership is harmful only if a country has low financial development and low institutional quality. Th...

BACKGROUND Donor funding for HIV programs has flattened out in recent years, which limits the ability of HIV programs worldwide to achieve universal access and sustain current progress. This study examines alternative mechanisms for resource mobilization. METHODS Potential non-donor funding sources for national HIV responses in low- and middle-income countries were explored through literature...

This paper provides a comprehensive assessment of the relation between inflation and globalization, measured in terms of trade and financial openness. Using a large crosssection of 91 countries covering the period 1985-2004, we establish two main empirical regularities. Both higher trade and financial openness i) reduce central bank’s inflation bias,yielding lower average inflation, and ii) are...

‘‘New Tigers” (including city commercial banks) outperform state-owned commercial banks burdened with non-performing loans from unprofitable state-owned enterprises. We study whether this is solely due to superior corporate governance (multiple shareholders versus total government ownership) or also to the favorable environment (the New Tigers target affluent China, while state-owned commercial...

The paper reports an empirical study of the factors affecting burden sharing among OECD’s 22 DAC members in ‘bankrolling’ the multilateral aid agencies. These are the UN agencies, World Bank’s IDA and non-IDA programmes, regional development banks, European Community, and other multilateral agencies that include the Global Environmental Facility and the Montreal Protocol on environment. Annual ...