No abstract

State-owned enterprises (SOEs) are present in key sectors of the economies around the world. While they can provide an important public service, there is widespread concern that their activities are negatively affected by corruption. However, there is limited cross-country analysis on the costs of corruption for SOEs. We present new evidence on how corruption affects the performance of SOEs using firm level data across a large number of countries. One striking result is that SOEs perform as well as private firms in core sectors when corruption is low. Taking advantage of a novel database reforms, we also show that SOE governance reforms can generate significant performance gains.

How can Low-Income Countries (LICs) enhance tax revenue collection to finance their vast development needs? We address this question by analyzing seven tax reform experiences in LICs

We consider the septic Schrödinger equation on the three-dimensional torus. We construct a non-trivial measure supported on the Sobolev space H 2 and show that the equation is globally well-posed on the support of this measure. Moreover, the measure is invariant under the flow that is constructed. Therefore, the constructed solutions are recurrent in time. Our proof combines the fluctuation-dissipation method and some features of the Gibbs measures theory for Hamiltonian PDEs.

The Benjamin-Ono equation describes the propagation of internal waves in a stratified fluid. In the present work, we study large time dynamics of its regular solutions via some probabilistic point of view. We prove the existence of an invariant measure concentrated on C ∞ (T) and establish some qualitative properties of this measure. We then deduce a recurrence property of regular solutions. The approach used in this paper applies to other equations with infinitely many conservation laws, such as the KdV and cubic Schrödinger equations in 1D.