References of "Bourgain, Arnaud 50001017"
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See detailThe Migration of Medical Workers in Sub-Saharan Africa and Substitution Policy
Bourgain, Arnaud UL; Pieretti, Patrice UL; Zou, Benteng UL

in Revue Economique (2010), 61(6), 1011-1022

Substitution policies are strategies sometimes chosen in Sub-Saharan Africa for curtailing the shortage of health professionals especially caused by the outflow of medical personnel. The aim of our ... [more ▼]

Substitution policies are strategies sometimes chosen in Sub-Saharan Africa for curtailing the shortage of health professionals especially caused by the outflow of medical personnel. The aim of our contribution is to propose a way to assess the merits and drawbacks of substitution policies by developing a simple growth model of healthcare productivity with medical brain drain. Within this framework, we use a medical care production function of the ces type which aggregates low and high specialized health workers. We then run simulations which compare scenarios with and without substitution strategies by using data from the Ghana’s medical sector. [less ▲]

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See detailIntégration financière, attractivité et prise de risque dans les banques de pays émergents
Bourgain, Arnaud UL; Pieretti, Patrice UL; Zanaj, Skerdilajda UL

in Mondes en Développement (2010), 149

The aim of this paper is to analyze the risk taking behaviour of banks in emerging economies in a context of international bank competition for deposits. In this framework, we find no monotone link ... [more ▼]

The aim of this paper is to analyze the risk taking behaviour of banks in emerging economies in a context of international bank competition for deposits. In this framework, we find no monotone link between the information disclosure of risk management and excessive risk taking, since this relationship depends on the intensity of international competition. Furthermore, the presence of deposit insurance increases the likelihood of excessive risk taking only if information about risk management is sufficiently disclosed, in a context of high mobility of capital. [less ▲]

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See detailCan the financial sector continue to be the main growth engine?
Bourgain, Arnaud UL; Pieretti, Patrice UL; Hoj, Jens

in OECD Economic Surveys. Luxembourg (2009)

The financial sector has emerged as the main economic engine over the past two decades. The comparative advantages of placing financial activities in Luxembourg have mostly been in terms of an adaptive ... [more ▼]

The financial sector has emerged as the main economic engine over the past two decades. The comparative advantages of placing financial activities in Luxembourg have mostly been in terms of an adaptive legislative and regulatory framework and low taxation. As a result, Luxembourg is today one of the main international centres for investment funds. Besides the sector’s direct and indirect employment effects, the most important effect is the large tax revenue generating capacity of the sector, accounting directly for over 20% of aggregate tax revenues. On the other hand, these tax revenues are volatile as the sector is highly sensitive to developments in international financial markets. Indeed, past downturns in international financial markets have tended to lead to a sharp slowdown of growth in the economy as well as in revenues, pointing to potential large risks associated with the current turmoil in international financial markets. Besides these short-term considerations, a lower trend growth rate of the sector is likely over the medium term. The main activities of the sector are in middle and back offices dealing with financial administration which, with new IT technologies, will tend to be increasingly outsourced. At the same time, the sector is having problems in attracting highly specialised talent to enter higher value front office activities. Over the longer term, international competition will continue to exert pressures that may eventually erode Luxembourg’s position. The extent of the decline in the sector’s trend growth depends on the ability to maintain and expand the attractiveness of investing and working in Luxembourg. Achieving this will depend on being able to adjust tax, infrastructure, and housing policies to attract foreign talent while updating and increasing the transparency of financial sector regulation. [less ▲]

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See detailMesures des externalités technologiques et pécuniaires dans un cluster financier
Bourgain, Arnaud UL; Catin, Maurice; Pieretti, Patrice UL

in Région et développement = Region and development = Region y desarollo (2009), 30

In this paper, we estimate agglomeration effects which arise in the Luxembourg banking and services industries. The empirical model we use is inspired from Midelfart-Knarvik and Steen (1999). Empirical ... [more ▼]

In this paper, we estimate agglomeration effects which arise in the Luxembourg banking and services industries. The empirical model we use is inspired from Midelfart-Knarvik and Steen (1999). Empirical evidence of technological and pecuniary externalities is found between the financial industry and the computer and business services. [less ▲]

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See detailMeasuring Technological Spillovers in a Financial Center by using Feder Model
Bourgain, Arnaud UL; Pieretti, Patrice UL

in Economics Bulletin (2007), 18(8), 1-19

The aim of this paper is to measure technological spillovers between banking activities and non financial activities and in particular market services related to finance. The econometric estimations are ... [more ▼]

The aim of this paper is to measure technological spillovers between banking activities and non financial activities and in particular market services related to finance. The econometric estimations are realized within a dynamic framework due to Feder (1982). For that purpose, we use data for Luxembourg. Due to its very small-size and to the importance of its international banking center, this country suits well for analyzing spatially-mediated externalities. The empirical estimations show significant technological externalities from the financial services industry to non-financial market services and in particular to Computer Activities and Business Services. [less ▲]

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See detailDiscipliner les centres financiers offshore : Incitation par la pression internationale
Bourgain, Arnaud UL; Pieretti, Patrice UL

in Région et développement = Region and development = Region y desarollo (2007), 26

Since Offshore Financial Centers (OFCs) generally provide bank secrecy to foreign investors they are likely to attract criminal money. Recently however, academic writings have pointed to the fact that ... [more ▼]

Since Offshore Financial Centers (OFCs) generally provide bank secrecy to foreign investors they are likely to attract criminal money. Recently however, academic writings have pointed to the fact that OFCs might have beneficial economic effects. In this context, we address the question whether pressure exerted by international organizations on offshore financial centers may be effective enough to enforce compliance with anti-money laundering regulations. Supposing that onshore and offshore banking centers compete with each other, we show that if costs of being lax (in particular, reputation costs) in customer identification are high enough, offshore banks have an incentive to comply credibly and that in spite of the existence of bank secrecy. Furthermore, the likelihood that an offshore bank credibly opts for monitoring foreign deposits increases with the degree of international financial integration and with the tax difference between onshore and offshore centers. [less ▲]

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See detailPlace financière au Luxembourg: Analyse des sources de ses avantages compétitifs et de sa dynamique
Pieretti, Patrice UL; Bourgain, Arnaud UL; Courtin, Philippe UL

Book published by Editions De Boeck & Larcier (2007)

Cet ouvrage développe trois thèmes : 1) identification des spécialisations et avantages potentiels de la Place luxembourgeoise. Ce 1er chapitre présente selon trois approches (investisseurs individuels ... [more ▼]

Cet ouvrage développe trois thèmes : 1) identification des spécialisations et avantages potentiels de la Place luxembourgeoise. Ce 1er chapitre présente selon trois approches (investisseurs individuels, clientèle "firme" et institutions financières) les grands avantages à la source des spécialisations de la Place financière luxembourgeoise; 2) attractivité des places bancaires et financières : les enjeux du cadre institutionnel et juridique. Ce 2e chapitre est consacré à une analyse théorique de la concurrence entre les places bancaires et financières pour l'attrait des capitaux; 3) La dynamique d'agglomération du pôle financier luxembourgeois. Ce 3e chapitre traite des forces centripètes et des forces centrifuges qui s'exercent au sein d'une place financière. [less ▲]

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See detailMeasuring Agglomeration Forces in a Financial Center
Bourgain, Arnaud UL; Pieretti, Patrice UL

in Economics Bulletin (2006), 18(3), 1-9

Basing on Scitovsky’s (1954) definition of external economies and applying the method of Caballero and Lyons (1990) to macro data of Luxembourg services industry, we find significant agglomeration forces ... [more ▼]

Basing on Scitovsky’s (1954) definition of external economies and applying the method of Caballero and Lyons (1990) to macro data of Luxembourg services industry, we find significant agglomeration forces between financial intermediaries (downstream industry) on the one hand and business services and computer industry (upstream industries) on the other. [less ▲]

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See detailPôle financier et croissance régionale, les effets externes des activités bancaires sur l'économie luxembourgeoise
Bourgain, Arnaud UL; Catin, Maurice; Pieretti, Patrice UL

in Gallouj, Camal; Leloup, Fabienne; Mérenne-Schoumaker, Bernadette (Eds.) et al Services aux entreprises et développement régional (2006)

This article intends to evaluate and to precise the transmission channels from financial development to non financial activities in the Luxembourg economy. Especially, we isolate the role played by the ... [more ▼]

This article intends to evaluate and to precise the transmission channels from financial development to non financial activities in the Luxembourg economy. Especially, we isolate the role played by the external effects of the financial sector on the productiviy of the other sectors. Based on the modified Feder’s production functions (1983), we propose a measure of technological spill-overs generated by the proximity of the banking sector. The analysis of spatial externalities allows a better understanding of these effects on the internal growth process. [less ▲]

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See detailCompétitivité de l'économie luxembourgeoise
Bourgain, Arnaud UL; Bley, Laurent; Pieretti, Patrice UL et al

Report (2005)

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See detailCompétitivité de l’économie luxembourgeoise 2004
Bourgain, Arnaud UL; Bley, Laurent; Pieretti, Patrice UL et al

Report (2005)

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See detailCompétitivité de l’économie luxembourgeoise 2003
Bourgain, Arnaud UL; Cardi, Olivier; Pieretti, Patrice UL et al

Report (2004)

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See detailCompetitiveness and Employment in a Small Open Economy
Bourgain, Arnaud UL; Pieretti, Patrice UL

in Journal of Economic Integration (2003), 18(2), 391-405

The model developed in this article leads to a reduced form that synthesizes the relevant determinants of job creation in a small open economy. Among these factors, we stress the role of competitiveness ... [more ▼]

The model developed in this article leads to a reduced form that synthesizes the relevant determinants of job creation in a small open economy. Among these factors, we stress the role of competitiveness that is measured by an indicator taking into account the foreign price sensitiveness of domestic exporters. Our model shows that the stronger the price setting power of domestic firms, the greater the impact of competitiveness on employment is. The model is used to empirically estimate the determinants of job creation over the period 1970-1998, in Luxembourg, a small economy, where employment expanded dramatically during the last decades. [less ▲]

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See detailTechnological Spillovers of Financial Centers on a Regional Economy: A Macroeconomic Approach Applied to Luxembourg
Bourgain, Arnaud UL; Pieretti, Patrice UL

in Thierstein, Alain; Schamp, Eike (Eds.) Innovation, Finance and Space (2003)

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See detailCompétitivité de l’économie luxembourgeoise 2002
Bourgain, Arnaud UL; Cardi, Olivier; Pieretti, Patrice UL et al

Report (2003)

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See detailCompétitivité de l’économie luxembourgeoise 2001
Bourgain, Arnaud UL; Pieretti, Patrice UL; Schuller, Guy

Report (2002)

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