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Full-Text Articles in Economic Policy
Introduction To The Symposium On 'Financial Risks And Economic Stability In Emerging Market Economies', Lucjan Orlowski
Introduction To The Symposium On 'Financial Risks And Economic Stability In Emerging Market Economies', Lucjan Orlowski
WCBT Faculty Publications
Developing resilience to contagion effects from global financial crises and economic recessions has been an ongoing crucial task for policymakers in emerging market economies. The recent global financial crisis of 2007-2009 has underscored the importance of pursuing disciplined macroeconomic policies and of devising sound macroprudential regulations that would strengthen the immunity of emerging markets and their institutions to various types of risks, including credit, default, sovereign, liquidity and market risks. The studies included in this symposium are not intended to provide a comprehensive overview of financial vulnerabilities in a broad spectrum of emerging markets. Rather, they share a common aim …
Are Politicians Office Or Policy Motivated? The Case Of U.S. Governors' Environmental Policies, Per G. Fredriksson, Le Wang, Khawaja Mamun
Are Politicians Office Or Policy Motivated? The Case Of U.S. Governors' Environmental Policies, Per G. Fredriksson, Le Wang, Khawaja Mamun
WCBT Faculty Publications
Are elected politicians primarily motivated by holding office, thus choosing environmental policies accordingly? Or are they motivated by the chance to implement their preferred environmental policies? Do governors have character, in the sense that they promise and implement environmental policies consistent with their own preferences? To answer these questions, we study the differences in environmental spending across both re-electable and lame duck governors from the two main political parties. In our empirical analysis, we make use of parametric and non-parametric regression-discontinuity approaches. While re-electable governors do not set significantly different policies, lame duck governors do. We argue that in the …