Die Entwicklungen der vergangenen Jahre auf den internationalen Kapitalmärkten habeneindrucksvoll die Chancen, aber auch die Risiken für die Anleger aufgezeigt. Im Zuge derFinanz- und Wirtschaftskrise signalisierten Begriffe wie „Zeitenwende“ oder„Paradigmenwechsel“ einen...

Utilizing the latest panel cointegration methods we provide new empirical evidence from 18 countries that suggests that the link between finance and growth in Sub-Saharan Africa is ‘broken’. Specifically, our findings suggest that banking system development in this region follows economic...

This paper examines the long-run determinants of the evolution of top in-come shares. Using a newly assembled panel of 16 developed countries over the entire twentieth century, we find that financial development dis-proportionately boosts top incomes. This effect appears to be particularly...