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Using a formal general equilibrium framework, this paper analyzes how sanctions imposed on the contestants in civil conflict affect the welfare of these contestants and the allocation of resources to conflict. It is shown that weak sanctions can hurt the contestant they are supposed to help, while strong sanctions augment the expected welfare of their intended beneficiaries. Moreover, sanctions are more likely to be successful if the contestant who is subject to sanctions can expect to derive a positive income in case of compliance. The likelihood of success rises as this income increases.
Labor --- Macroeconomics --- Public Finance --- Welfare Economics: General --- Conflict --- Conflict Resolution --- Alliances --- Policy Objectives --- Policy Designs and Consistency --- Policy Coordination --- Intergovernmental Relations --- Federalism --- Secession --- Personal Income, Wealth, and Their Distributions --- Macroeconomics: Consumption --- Saving --- Wealth --- Labor Economics: General --- Wages, Compensation, and Labor Costs: General --- National Security and War --- Labour --- income economics --- Public finance & taxation --- Personal income --- Consumption --- Wages --- Defense spending --- National accounts --- Expenditure --- Income --- Economics --- Labor economics --- Expenditures, Public --- South Africa --- Income economics
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The Soviet ruling elite, the nomenklatura, used both cooption and political repression to encourage loyalty to the communist regime. Loyalty was critical both in defusing internal opposition to the rule of the nomenklatura and in either deterring or defeating foreign enemies of the Soviet Union. We assume that the nomenklatura determined the extent of cooption and the intensity of political repression by equating their perceived marginal benefits and marginal costs. We use this assumption to construct an account of the historical evolution of policies of cooption and political repression in the Soviet Union.
Macroeconomics --- Public Finance --- Demography --- Positive Analysis of Policy-Making and Implementation --- Socialist Systems and Transitional Economies: Planning, Coordination, and Reform --- Demographic Economics: General --- Aggregate Factor Income Distribution --- Taxation, Subsidies, and Revenue: General --- Population & demography --- Public finance & taxation --- Population and demographics --- Income distribution --- Administration in revenue administration --- National accounts --- Revenue administration --- Population --- Revenue --- Russian Federation
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Despite ambitious agricultural reforms initiated by the federal government, inefficient and unprofitable producers predominate in post-Soviet Russia. However, in some regions a more robust restructuring has taken place. Observing two Russian regions-one with substantially restructured agricultural production, and one in which Soviet-style coordination predominates-we develop a model of the interactions between political and economic incentives that lead to these divergent outcomes. The model identifies region- and sector-specific characteristics that encourage some regional governments to maintain Soviet-style redistribution structures and make producers forsake more efficient outcomes as more costly, while encouraging other regions to pursue reform.
Macroeconomics --- Public Finance --- Agribusiness --- Collectives --- Communes --- Agriculture --- Socialist Systems and Transitional Economies: Political Economy --- Property Rights --- Positive Analysis of Policy-Making and Implementation --- Macroeconomics: Production --- Agriculture: General --- Personal Income, Wealth, and Their Distributions --- National Government Expenditures and Related Policies: General --- Agricultural Policy --- Food Policy --- Agriculture, agribusiness & food production industries --- Agricultural economics --- Public finance & taxation --- Agricultural law --- Agricultural production --- Agricultural sector --- Personal income --- Government subsidies --- Agricultural policy --- Production --- Economic sectors --- National accounts --- Expenditure --- Agricultural industries --- Income --- Subsidies --- Agriculture and state --- Russian Federation
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Fintech in Latin America and the Caribbean: Stocktaking.
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In 2011, following years of large-scale external imbalances financed by debt, Portugal’s economy reached a crisis point. To restore economic growth and credibility with international lenders, the country embarked on a difficult path of fiscal adjustment and structural reforms. By many metrics, Portugal’s 2011–14 macroeconomic stabilization program has been a success, but going forward Portugal would benefit from policies to reduce vulnerabilities, absorb labor slack, and generate sustainable growth.
Fiscal policy --- Economic stabilization --- Portugal --- Economic conditions. --- Adjustment, Economic --- Business stabilization --- Economic adjustment --- Stabilization, Economic --- Economic policy --- Tax policy --- Taxation --- Finance, Public --- Government policy --- Debt Management --- Debt --- Debts, Public --- Demand and Supply of Labor: General --- Expenditure --- Expenditures, Public --- Exports and Imports --- Finance --- Finance: General --- Income economics --- Industries: Financial Services --- Institutions and the Macroeconomy --- International economics --- Labor economics --- Labor Economics: General --- Labor market --- Labor markets --- Labor --- Labour --- Macroeconomics --- Macrostructural analysis --- National Government Expenditures and Related Policies: General --- Public debt --- Public finance & taxation --- Public Finance --- Sovereign Debt --- Structural reforms
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In Latin America and the Caribbean (LAC), financial technology has been growing rapidly and is on the agenda of many policy makers. Fintech provides opportunities to deepen financial development, competition, innovation, and inclusion in the region but also creates new and only partially understood risks to consumers and the financial system. This paper documents the evolution of fintech in LAC. In particular, the paper focuses on financial development, fintech landscape for domestic and cross border payments and alternative financing, cybersecurity, financial integrity and stability risks, regulatory responses, and considerations for central bank digital currencies.
Finance --- Funding --- Funds --- Economics --- Currency question --- Exports and Imports --- Industries: Financial Services --- Financial Economics: General --- General Financial Markets: General (includes Measurement and Data) --- General Financial Markets: Government Policy and Regulation --- Financial Institutions and Services: General --- Pension Funds --- Non-bank Financial Institutions --- Financial Instruments --- Institutional Investors --- Financial Institutions and Services: Government Policy and Regulation --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- Taxation, Subsidies, and Revenue: General --- Remittances --- Computer applications in industry & technology --- Distributed ledgers --- International economics --- Fintech --- Mobile banking --- Central Bank digital currencies --- Digital currencies --- Technology --- Balance of payments --- Financial services industry --- Technological innovations --- Banks and banking, Mobile --- International finance --- Mexico
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Despite some improvement since 2011, Latin America and the Caribbean continue to lag behind other regions in terms of financial inclusion. There is no clear evidence that fintech developments have supported greater financial inclusion in LAC, contrary to what has been observed elsewhere in the world. Case studies by national policy experts suggest that barriers to entry in the financial sector, along with a constraining regulatory environment, may have hindered a faster adoption of fintech. However, fintech development seems to have accelerated in the wake of the COVID-19 pandemic and with the support of recent policy initiatives.
Macroeconomics --- Economics: General --- Finance: General --- Industries: Financial Services --- Financial Institutions and Services: Government Policy and Regulation --- Economywide Country Studies: Latin America --- Caribbean --- Financial Markets and the Macroeconomy --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- Financial Institutions and Services: General --- Economic & financial crises & disasters --- Economics of specific sectors --- Finance --- Computer applications in industry & technology --- Financial inclusion --- Financial markets --- Fintech --- Technology --- Financial services --- Financial sector --- Economic sectors --- Currency crises --- Informal sector --- Economics --- Financial services industry --- Technological innovations --- Mexico
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Despite some improvement since 2011, Latin America and the Caribbean continue to lag behind other regions in terms of financial inclusion. There is no clear evidence that fintech developments have supported greater financial inclusion in LAC, contrary to what has been observed elsewhere in the world. Case studies by national policy experts suggest that barriers to entry in the financial sector, along with a constraining regulatory environment, may have hindered a faster adoption of fintech. However, fintech development seems to have accelerated in the wake of the COVID-19 pandemic and with the support of recent policy initiatives.
Mexico --- Macroeconomics --- Economics: General --- Finance: General --- Industries: Financial Services --- Financial Institutions and Services: Government Policy and Regulation --- Economywide Country Studies: Latin America --- Caribbean --- Financial Markets and the Macroeconomy --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- Financial Institutions and Services: General --- Economic & financial crises & disasters --- Economics of specific sectors --- Finance --- Computer applications in industry & technology --- Financial inclusion --- Financial markets --- Fintech --- Technology --- Financial services --- Financial sector --- Economic sectors --- Currency crises --- Informal sector --- Economics --- Financial services industry --- Technological innovations
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