Made available in DSpace on 2016-04-26T20:52:38Z (GMT). No. of bitstreams: 1 Renato de Carvalho Dolci.pdf: 1507833 bytes, checksum: 58c0ba85cfcd7be2b84e4bbd4c5c3a16 (MD5) Previous issue date: 2015-03-12 / From the study of empirical analysis based on article Institutions Rule: the Primacy of Institutions over Geography and Integration in Economic Development (2002) Dani Rodrik, Arvind Subramanian and Francesco Trebbi, this study seeks to empirically estimate more compliant institutional estimators with assistance from other indicators, classifying institutional estimators in four axes (legal, political, economic and social) and testing them on the model developed by the authors cited above. The result shows preponderance of legal apparatus in the adherence of institutional variable, excluding the economic quality (potential problems of reverse causality) and shows that more general variables such as force of law and government effectiveness have better performance than estimators very focused on institutionalities specific, such as political stability and governance system adopted by the country / A partir de estudo de análise empírica baseado no artigo Institutions Rule: the primacy of institutions over Geography and Integration in Economic Development (2002) de Dani Rodrik, Arvind Subramanian e Francesco Trebbi, este estudo busca estimar empiricamente estimadores institucionais mais aderentes com auxílio de outros indicadores, classificando estimadores institucionais em quatro eixos (legal, político, econômico e social) e testando-os em cima do modelo desenvolvido pelos autores acima citados. O resultado demonstra preponderância de aparatos legais na aderência da variável institucional, excluindo a qualidade econômica (por potenciais problemas de causalidade reversa) e demonstra que variáveis mais generalistas, como força da lei e efetividade do governo apresentam melhor performance do que estimadores muito focados em institucionalidades específicas, como estabilidade política e sistema de governo adotado pelo país

The present thesis analyzes the application of capital controls and their impact on the economy in the short and long term. These regulatory measures have gone through many periods and opinions in which they were considered as both positive and negative instrument not only of monetary policy. Global financial crisis of 2008 has again raised a lot of questions dealing with this topic. Capital controls may help ease the acute problems associated with inflows or outflows in the short term but they will not solve the issue of the country's susceptibility to movements of primarily debt capital. Long-term capital closeness (whether in terms of export or import) may causes, inter alia, the excessive accumulation of savings in the domestic closed economy or lack of capital for economic development. Therefore, when applying capital controls it is also necessary to improve the country's institutional quality which proved to be an important determinant of capital flows.

Depuis plus de trois décennies, la mobilité internationale des firmes et des facteurs de production compte l‟un des aspects les plus importants de la mondialisation. Les économies deviennent donc de plus en plus interdépendantes. Les investissements directs étrangers (IDE) se placent au centre de ce processus de mondialisation et les firmes multinationales (FMN) sont les principaux acteurs dans les stratégies de développement des pays d‟accueil. Croyant profiter des « spillovers », les pays d‟accueil se trouvent pris dans un processus de concurrence acharnée afin d‟attirer les investisseurs étrangers. Un tel processus conduit les pays d‟accueil à s‟engager dans des programmes d‟amélioration de leurs déterminants économiques et institutionnels d‟une part, et d‟accroître leur ouverture aux échanges internationaux en s‟engageant dans des processus d‟intégration régionale particulièrement dans les zones régionales de libre échange d‟autre part. L‟objectif de cette thèse est d‟évaluer la nature de la relation directe et indirecte entre les institutions ou de la qualité institutionnelle et l‟attractivité dans le cas des pays du sud et de l‟est de la Méditerranée (PSEM). Pour cela nous étudions empiriquement dans un premier temps l‟impact direct des institutions et particulièrement de la gouvernance sur l‟attractivité des PSEM et dans un second temps, nous explorons la nature de la relation indirecte entre l‟attractivité et les institutions via un canal de transmission qui est l‟intégration régionale à partir d‟une étude empirique de l‟impact de l‟intégration régionale sur l‟attractivité des pays de la zone. La qualité des institutions est validée comme déterminant important dans l‟attractivité des pays et dans l‟encadrement des processus d‟intégration régionale. En revanche, dans le cas des PSEM, l‟intégration régionale n‟est pas source d‟attractivité des IDE. Les pays de la zone doivent donc mener des politiques portant sur les institutions afin d‟améliorer leur attractivité vis-à-vis des IDE. / For over three decades, the international mobility of firms and factors of production has one of the most important aspects of globalization. The economies thus become increasingly interdependent. Foreign direct investments (FDI) are placed in the center of this process of globalization and multinational corporations (MNCs) are the main actors in the development strategies of the host country. Believing enjoy the "spillovers", host countries are caught in a process of intense competition to attract foreign investors. This process led the host country to engage in programs to improve their economic and institutional determinants on the one hand, and increase their openness to international trade by engaging in regional integration processes particularly in regional free trade zones on the other. The objective of this thesis is to evaluate the nature of the direct and indirect relationship between institutions or institutional quality and attractiveness in the case of MENA countries. For this we look empirically at first the direct impact of institutions, especially governance on the attractiveness of MENA countries and in a second step, we explore the nature of the indirect relationship between attractiveness and institutions through a channel transmission which is regional integration from an empirical study of the impact of regional integration on the attractiveness of countries in the region. The quality of institutions is validated as an important determinant of the attractiveness of the country and in the supervision of the regional integration process. However, in the case of MENA countries, regional integration is not source of attraction for FDI. The zone countries must pursue policies on institutions to improve their attractiveness vis-à-vis FDI.

The complex issue of corruption has attracted much attention over the last 20 years. The problem was analyzed mostly in the context of developing and transition countries, though not only the recent financial crisis showed the severity of corruption also in the world's most developed countries. This thesis analyzes twelve currently available corruption assessments for a cross section of 39 developed countries in the period 2007-2010. The thesis categorizes these assessments into three basic generations and characterizes the weaknesses and limitations of particular methods. The analysis is based on determination of relationship between individual corruption measures and recognizes specific aspects of corruption actually measured by particular indices. With the exception of strictly opinion poll-based corruption indices, the first and the second generation of corruption indices correlate well for a set of developed countries. This indicates that the sector specific indices, e.g. expenditure corruption assessment, are in analyzed countries closely related to the overall political corruption levels. An applied hierarchical cluster analysis gives better picture of otherwise inconsistent developed countries corruption rankings and divides countries into ten homogeneous groups. However, the analysis...

Cette thèse examine (i) l'impact du secteur bancaire et des marchés financiers sur la croissance économique, (ii) l'effet de la qualité institutionnelle sur la détermination du développement financier, (iii) Comment la qualité des institutions affecté la relation entre le développement financier et la croissance économique. A cette fin, nous construisons un indice de qualité institutionnel pour les pays de la région MENA. Appliquant la méthode d'estimation des moindres carrés généralisés (MCG) pour un échantillon de 18 pays de la région MENA pour la période de 1984-2007 nous constatons que ni le secteur bancaire ni les marchés financiers ne contribuent à la croissance économique et qu'ils l'affectent même négativement. Adoptant l'approche d'estimation sur données de panel et celle des variables instrumentales (IV) nos résultats montrent l'importance de l'environnement institutionnel dans la détermination du développement financier de la région MENA. En outre, nos résultats montrent que la qualité des institutions a un important effet dans la relation entre développement financier et croissance économique. Plus précisément, elle permet d'atténuer l'effet négatif du développement financier sur la croissance économique. Par conséquent, nos résultats fournissent une évidence empirique, que pour que le développement financier puisse contribuer à la croissance économique, les pays de la région MENA doivent avoir un certain niveau de développement institutionnel. Examinant l'effet non-linéaire de la qualité des institutions sur la relation entre développement financier et croissance économique nos résultats montrent que la relation entre développement du secteur bancaire et croissance économique présente la forme du "U-inversé", par contre cette forme n'est pas observée lorsque les marchés financiers sont considérés. / This thesis examines (i) the impact of banks and stock markets on economic growth (ii) the effect of institutional quality in determining financial development and (iii) how institutional quality affects the finance-growth nexus in the MENA region. To this end, we construct a yearly institutional index for MENA countries. Applying the generalized method- of-moments (GMM) estimators developed for dynamic panel data for a sample of 18 MENA countries over 1984-2007 period, we find that both bank and stock market development are unimportant or even harmful for economic growth. Considering both a panel data and the instrumental variable (IV) approaches of estimation, our results outline the importance of institutional quality in determining financial development in MENA region. Moreover, our results show that institutional quality affects the finance growth nexus in MENA countries. In fact, it mitigates the negative effect of financial development on economic growth. Therefore, our results provide empirical evidence that in order for financial development to contribute to economic growth, MENA countries must possess certain level of institutional quality. Examining the non-linear effect of institutional quality on the finance-growth nexus, our results show that banking sector development and growth exhibit an inverted-U shaped relationship. However, we do not find the same pattern in the stock market-growth relationship

Submitted by Evelyn Edith Contreras Medrano (contrerasmedrano@gmail.com) on 2017-03-10T21:05:13Z No. of bitstreams: 1 EContreras 2016 - Local Institutions and Natural Resources vf.pdf: 2289932 bytes, checksum: 3e134974c30ddcb38184183d421e24e7 (MD5) / Approved for entry into archive by ÁUREA CORRÊA DA FONSECA CORRÊA DA FONSECA (aurea.fonseca@fgv.br) on 2017-03-20T13:10:47Z (GMT) No. of bitstreams: 1 EContreras 2016 - Local Institutions and Natural Resources vf.pdf: 2289932 bytes, checksum: 3e134974c30ddcb38184183d421e24e7 (MD5) / Made available in DSpace on 2017-03-22T18:33:30Z (GMT). No. of bitstreams: 1 EContreras 2016 - Local Institutions and Natural Resources vf.pdf: 2289932 bytes, checksum: 3e134974c30ddcb38184183d421e24e7 (MD5) Previous issue date: 2016-12-08 / After decades of research, there is still no consensus in the literature regarding the effects of natural resource abundance on the economic and political performance of a territory. This research aims to contribute to this discussion, by analyzing the role of institutions on explaining the relationship between natural resource-based revenues and the provision of public goods at the local level. In order to do so, I test the mechanisms previously proposed in the literature for explaining the natural resource curse effect at the national level (mediation and moderation effects of institutional quality), using cross-sectional data of Peruvian municipalities located in the Andean highlands, for the 2011-2014 period. The identification strategy proposed uses as source of exogenous variation for revenues, the location of natural resources and its value among the territory, and a set of rules established by law for the redistribution of natural resource-based revenues to the local governments. In order to deal with the endogeneity of institutional quality, I include 2SLS estimations, using the presence of 'Peasant Communities' (Comunidades Campesinas) as an instrumental variable. The results show some evidence of a positive effect of natural resource-based revenues on the provision of local public infrastructure (water, public lightning and rural roads), a null effect on education results, and a negative effect on health campaigns. However, regarding the role of institutional quality on explaining these effects, I find no significant effects for all of the outcomes and samples analyzed.

Submitted by PEDRO BRETAN (pedrobretan@yahoo.com.br) on 2011-06-22T04:12:37Z No. of bitstreams: 1 tese_pedrobretan.pdf: 1433250 bytes, checksum: ee77d73af6e9a7b5e655a5238bddd5ec (MD5) / Approved for entry into archive by Andrea Virginio Machado (andrea.machado@fgv.br) on 2011-06-27T12:18:09Z (GMT) No. of bitstreams: 1 tese_pedrobretan.pdf: 1433250 bytes, checksum: ee77d73af6e9a7b5e655a5238bddd5ec (MD5) / Made available in DSpace on 2011-07-13T13:39:29Z (GMT). No. of bitstreams: 1 tese_pedrobretan.pdf: 1433250 bytes, checksum: ee77d73af6e9a7b5e655a5238bddd5ec (MD5) Previous issue date: 2010-12-23 / This thesis is comprised of three essays with a common goal: expand the theories about what drives the shape of an industry and its consequences. All three are theoretical and applied, in the sense of being detailed studies about the inner workings of industries and their impact on the shape of the latter. In the first chapter I model how the interplay among institutional quality, trust and contract incompleteness affects firms' decisions about their international mode of organization. Second second chapter also concerns industries' ownership choices, but in a complete different perspective, focusing in information transmission between the different parts that constitute a supply chain. Finally, third chapter uses industrial organization modeling to show how the internal structure of an industry influence the risk of payroll-backed loans. / Esta tese compõe-se de três ensaios que versam sobre o formato, em termos de estrutura de governança, das indústrias e como a estrutura interna das mesmas influenciam esses formatos e seus produtos. O primeiro capítulo apresenta um modelo de como a qualidade institucional, confiança e incompleteza contratual afetam as decisiões das firmas sobre a melhor forma de se organizarem internacionalmente. O segundo capítulo vai na mesma direção de explicar a organização das indústrias, mas com foco no efeito da transmissão de informação entre as unidades constituintes das organizações sobre o formato ótimo das mesmas. Ambos trabalhos usam modelos dinâmicos. O terceiro capítulo se utiliza da modelagem de organização industrial para mostrar como a estrutura interna de uma indústria influencia no risco de crédito consignado.

Malgré la diversité des études théoriques et empiriques, la problématique de la relation compte capital – croissance économique reste une question controversée. L’objet de ce travail de recherche consiste donc à expliciter la nature d’une telle relation dans les économies de la région MENA, tout en tenant compte de la qualité institutionnelle. Dans ce contexte, les différentes estimations ont été effectuées par la méthode des moments généralisés (GMM), sur la période allant de 1986 à 2012, pour 11 pays. Les résultats montrent que la corruption et la responsabilité démocratique influencent négativement la croissance économique si la politique de la libéralisation du compte capital est adoptée. Cependant, le terme d'interaction entre la qualité bureaucratique et l'ouverture financière stimulent positivement la croissance économique. Ces résultats suggèrent alors que les avantages de la libéralisation du compte capital sont conditionnés par les facteurs institutionnels. De ce fait, notre thèse contribue aux débats politiques récents sur les mérites et les démérites de la libéralisation du compte capital. En ce qui concerne le lien entre la libéralisation du compte capital et le développement financier en Tunisie, les différentes estimations ont été effectuées par l’approche autorégressive à retards échelonnés (ARDL), sur la période allant de 1986 à 2014. Les résultats obtenus montrent que l’effet positif de l’ouverture sur le développement financier est bien plus important à long terme qu’à court terme. Par ailleurs, les résultats confirment l’impact négatif de la corruption sur le système financier tunisien. / Despite the diversity of theoretical and empirical studies, the question of capital account–economic growth relationship remains a controversial issue. This research aims to complete the existing evidence focusing on MENA countries, while taking into account the institutional quality. In this context, various estimates were made by generalized method of moments (GMM) over the period of 1986–2012 for 11 countries. The results show that corruption and democratic accountability have a significant and negative impact on economic growth if capital account liberalization is enacted. However, the interaction term of bureaucracy quality and financial openness has a significant and positive impact on economic growth. These findings therefore show that the benefits of capital account liberalization are not unconditional, but are likely to depend upon the environment in which the liberalization occurs. Hence, our thesis contributes to the recent policy debates on the merits and demerits of capital account liberalization. As regards the link between capital account liberalization and financial development in Tunisia, the various estimates were made by the autoregressive distributed lag model (ARDL) over the period 1986 to 2014. The results show that the positive effect of opening on financial development is much more important in the long term than in the short term. Moreover, the results confirm the negative impact of corruption on the Tunisian financial system.

Cette thèse se compose de trois essais empiriques qui contribuent à la littérature sur la political economy et économie du travail. Le premier chapitre analyse comment les effets du changement dans le degré de fédéralisme fiscal sur la composition de la dépense publique au niveau municipal dépend de la qualité des institutions ex-. Le deuxième chapitre se concentre sur la définition de la classe moyenne à l'aide de l'approche fondée sur les actifs et étudie comment, selon cette définition, les composantes du revenu et de la richesse se répartissent à travers les classes au fil du temps. Le troisième chapitre étudie plutôt comment la flexibilisation du marché du travail affecte le bien-être des travailleurs à l'entrée et au début de leur carrière. Les trois essais sont basés sur l'Italie pour faire la lumière sur trois sujets largement discutés tant au niveau académique que politique. / This thesis consists of three empirical essays that contribute to the literature on political economy and on labor economics. The first chapter analyzes how the effects of changes in the decree of fiscal federalism and mafia penetration on the composition of public expenditure at the municipal level depends on ex-ante institutional quality. The second chapter focus on the definition of the middle class using the asset based approach and studies how, according to this definition, income and wealth components distribute across classes over time. The third chapter, instead, studies how labor market flexibilisation affected workers well-being at entry and during the early career. All three essays are based on Italy to shed light on three topics widely discussed both at the academic and policy level.

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