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  • Kraay, Aart  (2)
  • Washington, D.C : The World Bank  (2)
  • Washington, D.C : World Bank, Development Research Group, Macroeconomics and Growth, and, Trade
  • Access to Finance  (2)
  • 1
    Online Resource
    Online Resource
    Instrumental Variables Regressions With Honestly Uncertain Exclusion Restrictions (2008)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (42 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Kraay, Aart Instrumental Variables Regressions With Honestly Uncertain Exclusion Restrictions
    Keywords: Access to Finance ; Benchmark ; Bilateral trade ; Consumers ; Currencies and Exchange Rates ; Econometrics ; Economic Theory & Research ; Finance and Financial Sector Development ; GDP ; GDP per capita ; Growth rate ; Human capital ; Macroeconomics ; Macroeconomics and Economic Growth ; Per capita incomes ; Property rights ; Statistical & Mathematical Sciences ; Access to Finance ; Benchmark ; Bilateral trade ; Consumers ; Currencies and Exchange Rates ; Econometrics ; Economic Theory & Research ; Finance and Financial Sector Development ; GDP ; GDP per capita ; Growth rate ; Human capital ; Macroeconomics ; Macroeconomics and Economic Growth ; Per capita incomes ; Property rights ; Statistical & Mathematical Sciences ; Access to Finance ; Benchmark ; Bilateral trade ; Consumers ; Currencies and Exchange Rates ; Econometrics ; Economic Theory & Research ; Finance and Financial Sector Development ; GDP ; GDP per capita ; Growth rate ; Human capital ; Macroeconomics ; Macroeconomics and Economic Growth ; Per capita incomes ; Property rights ; Statistical & Mathematical Sciences
    Abstract: The validity of instrumental variables (IV) regression models depends crucially on fundamentally untestable exclusion restrictions. Typically exclusion restrictions are assumed to hold exactly in the relevant population, yet in many empirical applications there are reasonable prior grounds to doubt their literal truth. In this paper I show how to incorporate prior uncertainty about the validity of the exclusion restriction into linear IV models, and explore the consequences for inference. In particular I provide a mapping from prior uncertainty about the exclusion restriction into increased uncertainty about parameters of interest. Moderate prior uncertainty about exclusion restrictions can lead to a substantial loss of precision in estimates of structural parameters. This loss of precision is relatively more important in situations where IV estimates appear to be more precise, for example in larger samples or with stronger instruments. The author illustrates these points using several prominent recent empirical papers that use linear IV models
    URL: Volltext  (Deutschlandweit zugänglich)
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    MPI Ethno. Forsch.
  • 2
    Online Resource
    Online Resource
    Does IDA Engage In Defensive Lending ? (2007)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (30 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Geginat, Carolin Does IDA Engage In Defensive Lending ?
    Keywords: Access to Finance ; Bankruptcy and Resolution of Financial Distress ; Banks and Banking Reform ; Creditors ; Debt ; Debt Markets ; Debt issues ; Debts ; Disbursements ; Economic Theory and Research ; External debt ; Finance and Financial Sector Development ; International Bank ; International Development ; Macroeconomics and Economic Growth ; Non-performing loans ; Repayments ; Access to Finance ; Bankruptcy and Resolution of Financial Distress ; Banks and Banking Reform ; Creditors ; Debt ; Debt Markets ; Debt issues ; Debts ; Disbursements ; Economic Theory and Research ; External debt ; Finance and Financial Sector Development ; International Bank ; International Development ; Macroeconomics and Economic Growth ; Non-performing loans ; Repayments ; Access to Finance ; Bankruptcy and Resolution of Financial Distress ; Banks and Banking Reform ; Creditors ; Debt ; Debt Markets ; Debt issues ; Debts ; Disbursements ; Economic Theory and Research ; External debt ; Finance and Financial Sector Development ; International Bank ; International Development ; Macroeconomics and Economic Growth ; Non-performing loans ; Repayments
    Abstract: Multilateral development banks are frequently accused of "defensive lending," the practice of extending new loans purely in order to ensure that existing loans are repaid. This paper empirically examine this hypothesis using data on lending by and repayments to the International Development Association (IDA), which is the largest provider of concessional development loans to low-income countries. The authors argue that key institutional features of IDA both (i) potentially create incentives for defensive lending, and (ii) enable particularly sharp tests of the defensive lending hypothesis. The authors find that there is a surprisingly robust partial correlation between disbursements on new IDA loans and repayments on existing loans. However, a closer look at the evidence suggests that defensive lending is unlikely to be a major explanation for this partial correlation
    URL: Volltext  (Deutschlandweit zugänglich)
    Library Location Call Number Volume/Issue/Year Availability
    BibTip Others were also interested in ...
    Online Resource
    MPI Ethno. Forsch.
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