Suchergebnisse

This article analyzes the current state of betting activity in Uzbekistan, legislation in this area, foreign experience, licensing issues. Gaps in legislation in the regulation of this sphere, as well as legislative acts regulating the field of betting activity were also studied At the same time, the concluding part contains conclusions and recommendations on the regulation of this area.

Uncertainty in economic environment leads economic agents to act cautiously. In this paper, we postulate that such uncertainty leads banks to charge higher interest rate on loans. Measuring aggregate country-level economic uncertainty with the World Uncertainty Index (WUI) and using a bank-level dataset from 88 countries over the period 1998-2017, we find that heightened economic uncertainty increases bank loan interest rates. Specifically, bank loan interest rates rise by 20.67 basis points with a one standard deviation increase in WUI. Our results are robust when we use alternative proxy of uncertainty, include additional controls in the model, and extend the sample size. We also observe that WUI index is better at measuring local economic uncertainty as compared to the Economic Policy Uncertainty (EPU) index. Overall, this study provides evidence that bank price in economic uncertainty is an important risk while setting interest rates on bank loans.

Senior Project submitted to The Division of Social Studies of Bard College.

ZusammenfassungBenin, Afrikas ehemalige Modelldemokratie, steht vor einem Scheideweg. Nach einem friedlichen Systemwechsel und der anschließenden Herausbildung und Konsolidierung demokratischer Institutionen hat ein Abschwung begonnen, dessen Ende noch nicht abzusehen ist. 30 Jahre nach der demokratischen Erneuerung hat die ärmere Bevölkerung bisher keine demokratische Dividende erhalten, und checks and balances werden als Hindernisse für Reformen wahrgenommen. Hat das Modell ausgedient, wird sich ein weiterer Staat Afrikas für ein autokratisches System entscheiden?