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Sources of Productivity Spillovers: Panel Data Evidence from China
Baltagi, Badi H.; Egger, Peter; Kesina, Michaela - CESifo - 2014
This paper assesses sources of productivity spillovers in China’s electric and electronic manufacturing industry using a rich panel data-set of 25,360 firms observed over the period 2004-2007. This industry is characterized by its important reliance on technology. In particular, the paper...
Persistent link: https://www.econbiz.de/10010877809
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Firm-level Productivity Spillovers in China's Chemical Industry: A Spatial Hausman-Taylor Approach
Baltagi, Badi H.; Egger, Peter; Kesina, Michaela - CESifo - 2014
This paper assesses the role of intra-sectoral spillovers in total factor productivity across Chinese producers in the chemical industry. We use a rich panel data-set of 12,552 firms observed over the period 2004-2006 and model output by the firm as a function of skilled and unskilled labor,...
Persistent link: https://www.econbiz.de/10011097946
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Payment Choice in International Trade: Theory and Evidence from Cross-country Firm Level Data
Hoefele, Andreas; Schmidt-Eisenlohr, Tim; Yu, Zhihong - CESifo - 2013
When trading, firms choose between different payment contracts. As shown theoretically in Schmidt-Eisenlohr (forthcoming), this allows firms in international trade to optimally trade-off differences in financing costs and enforcement across countries. This paper provides evidence from a large...
Persistent link: https://www.econbiz.de/10010877930
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The Impact of Basel III on Trade Finance: The Potential Unintended Consequences of the Leverage Ratio
Auboin, Marc; Blengini, Isabella - CESifo - 2014
Trade finance, particularly in the form of short-term letters of credit has received favourable capital treatment new Basel III rules. However, concerns have been expressed over the potential negative “unintended consequences” of the newly created leverage ratio for trade. This paper offers...
Persistent link: https://www.econbiz.de/10010948837
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Finance, Control, and Profitability: The Influence of German Banks
Chirinko, Robert S.; Elston, Julie Ann - CESifo - 2003
Bank intermediated finance has been cited frequently as the preferred means for channeling funds from savers to firms. Germany is the prototypical economy where universal banks allegedly exert substantial influence over firms. Despite frequent assertions about the considerable power of German...
Persistent link: https://www.econbiz.de/10005094259
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Subprime Crisis and Board (In-)Competence: Private vs. Public Banks in Germany
Hau, Harald; Thum, Marcel - CESifo - 2009
We examine evidence for a systematic underperformance of Germany’s state-owned banks in the current financial crisis and study if the bank losses can be traced to the quality of bank governance. For this purpose, we examine the biographical background of 593 supervisory board members in the 29...
Persistent link: https://www.econbiz.de/10005051557
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Peer Effects in Program Participation
Dahl, Gordon B.; Loken, Katrine Vellesen; Mogstad, Magne - CESifo - 2013
When trading, firms choose between different payment contracts. As shown theoretically in Schmidt-Eisenlohr (forthcoming), this allows firms in international trade to optimally trade-off differences in financing costs and enforcement across countries. This paper provides evidence from a large...
Persistent link: https://www.econbiz.de/10010682628
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Towards a Theory of Trade Finance
Schmidt-Eisenlohr, Tim - CESifo - 2011
Shipping goods internationally is risky and takes time. To allocate risk and to finance the time gap between production and sale, a range of payment contracts is utilized. I study the optimal choice between these payment contracts considering one shot transactions, repeated transactions and...
Persistent link: https://www.econbiz.de/10008914275
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Growth and Earnings Persistence in Banking Firms: A Dynamic Panel Investigation
Shehzad, Choudhry Tanveer; Haan, Jakob de; Scholtens, Bert - CESifo - 2009
This paper investigates (i) whether growth and profitability persist in banking firms, (ii) whether the level and volatility of growth and profitability are bank-size dependent, and (iii) the relationship between growth and profitability of a bank. Using a dynamic panel model estimated by GMM...
Persistent link: https://www.econbiz.de/10008572506
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Collateral and its Substitutes in Emerging Markets' Lending
Menkhoff, Lukas; Neuberger, Doris; Rungruxsirivorn, Ornsiri - CESifo - 2011
Due to opaque information and weak enforcement in emerging loan markets, the need for collateral is high, whereas … borrowers lack adequate assets to pledge as collateral. How is this puzzle solved? We find for a representative sample from … Northeast Thailand that indeed most loans do not include any tangible assets as collateral. Instead, lenders enforce collateral …
Persistent link: https://www.econbiz.de/10009320789