The financing of infrastructures is a major topic in recent energy policy debates. Project finance, as a specialized form of debt finance, thereby has become a well-established financing tool. This paper contributes a qualitative and quantitative analysis of the determinants of the debt ratio in project finance, using data on 26 liquefied natural gas (LNG) export and import projects. We argue that ...
A manufacturer contracting secretly with several downstream competitors faces an opportunism problem, preventing it from exerting its market power. In an infinitely repeated game, the opportunism problem can be relaxed. We show that the upstream firm's market power can be restored even further if the upstream firm chooses a mixed distribution system in which it makes use of an intermediary to distribute ...
This study assesses whether the international monetary system is already tri-polar by testing what we call China's ‘dominance hypothesis’, i.e. whether the renminbi already influences exchange rate and monetary policies strongly in Asia, a direct reference to the old ‘German dominance hypothesis’ which ascribed to the German mark a dominant role in Europe in the 1980s. Using a global factor model of ...
by Mathias Bug and Kristina Meier in: DIW Economic Bulletin 3/2015 This report aims to show the distribution of crime in Germany. For this, police crime statistics (polizeiliche Kriminalstatistik – PKS) are treated so that they integrate dark figures (unreported crime) of crime types along with their specific grade of burden. The different treatments are based on own recent survey data. Two ...
This report aims to show the distribution of crime in Germany. For this, police crime statistics (polizeiliche Kriminalstatistik – PKS) are treated so that they integrate dark figures (unreported crime) of crime types along with their specific grade of burden. The different treatments are based on own recent survey data. Two major trends are confirmed by both treatment methods: First, there is a northsouth ...
The construction industry remains a key pillar of the German economy. According to the latest construction volume calculations by DIW Berlin, the value of construction in 2014 and 2015 is forecast to grow far more rapidly than the economy as a whole: by a price-adjusted 3.3 percent and 2.1 percent in 2014 and 2015, respectively. Currently, new residential construction is an important engine for growth ...
