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And Schumpeter Said, "This is How Thou Shalt Grow"; Further Quest for Economic Growth in Poor Countries

Beaugrand, Philippe - International Monetary Fund (IMF) - 2004

entrepreneurs innovate—in the Schumpeterian sense—in order to bring about structural changes in the economy. The conclusion …

Persistent link: https://www.econbiz.de/10005825901

Japan; Financial Sector Assessment Programâ€”Technical Note on Credit Intermediation

International Monetary Fund (IMF); International … - 2012

This paper is an analysis of Japanâ€™s credit channel. The economic condition has no hindrance, but credit demand showed an inert performance. The stateâ€™s policies have helped the flow of finance and prevent bankruptcy, but several other aspects act as an impediment to credit...

Persistent link: https://www.econbiz.de/10011244991

Intangible Capital, Relative Asset Shortages and Bubbles

Giglio, Stefano; Severo, Tiago - International Monetary Fund (IMF) - 2011

We analyze an overlapping generations economy with financial frictions and accumulation of both physical and intangible capital. The key difference between them is that intangible capital cannot be used as collateral for borrowing. As intangibles become more important in production, financial...

Persistent link: https://www.econbiz.de/10009370542

Sudden Stops, Output Drops, and Credit Collapses

Dagher, Jihad - International Monetary Fund (IMF) - 2010

This paper proposes a tractable Sudden Stop model to explain the main patterns in firm level data in a sample of Southeast Asian firms during the Asian crisis. The model, which features trend shocks and financial frictions, is able to generate the main patterns observed in the sample during and...

Persistent link: https://www.econbiz.de/10008646413

What Role Can Financial Policies Play in Revitalizing SMEs in Japan?

Lam, Raphael W.; Shin, Jongsoon - International Monetary Fund (IMF) - 2012

The paper discusses the role the financial sector can play in supporting growth in Japan. While overall credit conditions have been accommodative, credit growth has remained weak, especially for small and medium-sized enterprises (SMEs). Firm-level SME data and sectoral corporate balance sheets...

Persistent link: https://www.econbiz.de/10010790387

External Finance, Sudden Stops, and Financial Crisis; What is Different This Time?

International Monetary Fund (IMF); International … - 2010

This paper develops a two-country DSGE model to investigate the transmission of a global financial crisis to a small open economy. We find that economies hit by a sudden stop arising from financial distress in the global economy are likely to face a more prolonged crisis than sudden stop...

Persistent link: https://www.econbiz.de/10008560432

Growth and Capital Flows with Risky Entrepreneurship

Sandri, Damiano - International Monetary Fund (IMF) - 2010

This paper shows that the behavior of entrepreneurs facing incomplete financial markets and risky investment can … uninsurable risk of losing invested capital forces entrepreneurs to rely on self-financing, so that when business opportunities … open up entrepreneurs increase saving to finance the investment that produces growth. The key insight is that saving has to …

Persistent link: https://www.econbiz.de/10008519499

Microfinance Institutions and Public Policy

International Monetary Fund (IMF); International … - 2002

Many governments and nongovernmental organizations have adopted policies to promote the growth of microfinance institutions (MFIs). The appropriate level and form of support for MFIs are discussed in this paper on the basis of a review of key MFI characteristics. Governments are also responsible...

Persistent link: https://www.econbiz.de/10005768989

Show Me the Money; Access to Finance for Small Borrowers in Canada

Klyuev, Vladimir - International Monetary Fund (IMF) - 2008

This paper examines access to business finance by Canadian small and medium-sized enterprises (SMEs) and to housing finance by Canadian households (particularly non-prime borrowers) against the background of a fairly concentrated and protected banking industry. It finds access broadly adequate...

Persistent link: https://www.econbiz.de/10005769089

Explaining Economic Growth with Imperfect Credit Markets

Carranza, Luis - International Monetary Fund (IMF) - 2000

the competition among entrepreneurs (“intensive growth”). As a result, the growth rate could be increasing in the middle …

Persistent link: https://www.econbiz.de/10005605049