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Drivers and Obstacles to Banking SMEs: The Role of Competition and the Institutional Framework
Torre, Augusto de la; Pería, María Soledad Martínez; … - CESifo - 2009
factors they perceive as drivers and obstacles to financing SMEs. We also study to what degree competition and the … banks in both countries. In particular, banks have begun to target SMEs due to the significant competition in the corporate …
Persistent link: https://www.econbiz.de/10004979421
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Competition, Imitation, and R&D Productivity in a Growth Model with Sector-Specific Patent Protection
Mosel, Malte - CESifo - 2010
is found that patents ought to be weaker, the more intense competition, the higher R&D productivity, and the more … intricate reverse engineering are. Unlike similar step-by-step innovation models of economic growth, the model assumes Cournot … competition and introduces an empirically substantiated measure of sector differences in the ability to catch up with the …
Persistent link: https://www.econbiz.de/10008572561
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Tax-Co-ordination in Europe: Assessing the First Years of the EU-Savings Taxation Directive
Hemmelgarn, Thomas; Nicodème, Gaëtan J.A. - CESifo - 2009
This paper reviews the economic effects of the EU Savings Taxation Directive. The Directive aims at enabling taxation of foreign interest payments received by individuals in accordance with the rules of their State of residence. The data suggest that the Directive, which is based on automatic...
Persistent link: https://www.econbiz.de/10005029258
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Measurement and Determinants of Access to Loans
Hainz, Christa; Nabokin, Tatjana - CESifo - 2013
Measuring and identifying financial constraints represents an important challenge in empirical studies. Due to data limitations perception-based indicators or approximations of access to finance by the usage of finance are often used, disregarding firm-specific differences in the demand for...
Persistent link: https://www.econbiz.de/10010877770
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Ethnic Fractionalization, Governance and Loan Defaults in Africa
Andrianova, Svetlana; Baltagi, Badi H.; Demetriades, Panicos - CESifo - 2014
We present a theoretical model of moral hazard and adverse selection in an imperfectly competitive loans market that is suitable for application to Africa. The model allows for variation in both the level of contract enforcement (depending on the quality of governance) and the degree of market...
Persistent link: https://www.econbiz.de/10010948811
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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...
Persistent link: https://www.econbiz.de/10009320789
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Demographic Change and Bank Profitability. Empirical Evidence from German Savings Banks
Berlemann, Michael; Oestmann, Marco; Thum, Marcel - CESifo - 2010
predict the development of bank profitability due to demographic shifts up to 2025. One of the main findings is that the …
Persistent link: https://www.econbiz.de/10008534055
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When Arm's Length Is Too Far. Relationship Banking over the Business Cycle
Beck, Thorsten; Degryse, Hans; Haas, Ralph de; Horen, … - CESifo - 2014
Using a novel way to identify relationship and transaction banks, we study how banks’ lending techniques affect funding to SMEs over the business cycle. For 21 countries we link the lending techniques that banks use in the direct vicinity of firms to these firms’ credit constraints at two...
Persistent link: https://www.econbiz.de/10010795340
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Institutional Reform and Depositors' Portfolio Choice - Evidence from Censored Quantile Regressions
Berlemann, Michael; Luik, Marc-André - CESifo - 2014
bank customer data from German savings banks, study whether the customers of East German banks differ from their West …, individuals are willing to bear, seems to change only slowly as the portfolios of East and West German savings bank customers …
Persistent link: https://www.econbiz.de/10010765492
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Home Bank Intermediation of Foreign Direct Investment
Poelhekke, Steven - CESifo - 2011
of a major international bank to third-country counter parties during the recent crisis may thus result in persistently … lower volumes of outward FDI from the bank’s home market. …
Persistent link: https://www.econbiz.de/10009147744