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The Impact of Public Capital, Human Capital, and Knowledgeon Aggregate Output

Joutz, Frederick L.; Abdih, Yasser - International Monetary Fund (IMF) - 2008

This paper investigates the impact of public capital on private sector output by testing and estimating an aggregate production function for the U.S. economy over the postwar period augmented to include the stock of public capital as an additional factor input. We use patent applications to...

Persistent link: https://www.econbiz.de/10005263996

Monetization in Low- and Middle-Income Countries

Kinoshita, Noriaki; McLoughlin, Cameron - International Monetary Fund (IMF) - 2012

The degree of an economyâ€™s monetization, which has an important implication on economic growth, can be affected by the conduct of monetary policy, financial sector reform, and episodes of financial crises. The paper finds that monetization--measured by the ratio of broad money to nominal...

Persistent link: https://www.econbiz.de/10011142100

Stock Returns and Output Growth in Emerging and Advanced Economies

Mauro, Paolo - International Monetary Fund (IMF) - 2000

This paper studies the correlation between output growth and lagged stock returns in a panel of emerging market … economies and advanced economies. It finds that the correlation is as strong in emerging market economies as in advanced …, the paper finds that the strength of the correlation between output growth and lagged stock returns is significantly …

Persistent link: https://www.econbiz.de/10005769095

Can China Grow Faster? a Diagnosison the Fragmentation of the Domestic Capital Market

Wei, Shang-Jin; Boyreau-Debray, Genevieve - International Monetary Fund (IMF) - 2004

This paper examines possible segmentation of the internal capital market in China. We employ two standard tools from … similar (and somewhat surprising) picture: capital mobility within China is low! Furthermore, the degree of internal financial …

Persistent link: https://www.econbiz.de/10005826241

Global Liquidity, Risk Premiums and Growth Opportunities

Nicoló, Gianni De; Ivaschenko, Iryna V. - International Monetary Fund (IMF) - 2009

This paper constructs new indicators of liquidity for equity, bond and money markets in major advanced and emerging market countries, documents their evolution and comovements, and assesses the extent to which such measures are determinants of selected spreads and proxy measures of countries'...

Persistent link: https://www.econbiz.de/10005826494

The Role of Financial Variables in Predicting Economic Activity in the Euro Area

Lombardi, Marco; Espinoza, Raphael A.; Fornari, Fabio - International Monetary Fund (IMF) - 2009

The U.S. business cycle typically leads the European cycle by a few quarters and this can be used to forecast euro area GDP. We investigate whether financial variables carry additional information. We use vector autoregressions (VARs) which include the U.S. and the euro area GDPs as a minimal...

Persistent link: https://www.econbiz.de/10008540921

Firm Productivity, innovation and Financial Development

Verdier, Geneviève; Kersting, Erasmus; Dabla-Norris, Era - International Monetary Fund (IMF) - 2010

How do firm-specific actions-in particular, innovation-affect firm productivity? And what is the role of the financial sector in facilitating higher productivity? Using a rich firm-level dataset, we find that innovation is crucial for firm performance as it directly and measurably increases...

Persistent link: https://www.econbiz.de/10008519511

Financial Development and Economic Growth; An Overview

Khan, Mohsin S.; Semlali, A. Senhadji - International Monetary Fund (IMF) - 2000

In recent years there has been substantial theoretical and empirical work on the role that financial markets play in fostering economic growth and development. This paper provides a selective review of the literature, as well as new empirical evidence on the relationship between financial...

Persistent link: https://www.econbiz.de/10005263653

Financial Frictions, Investment, and Institutions

Yafeh, Yishay; Ueda, Kenichi; Claessens, Stijn - International Monetary Fund (IMF) - 2010

Financial frictions have been identified as key factors affecting economic fluctuations and growth. But, can institutional reforms reduce financial frictions? Based on a canonical investment model, we consider two potential channels: (i) financial transaction costs at the firm level; and (ii)...

Persistent link: https://www.econbiz.de/10008680276

Israel; Selected Issues

International Monetary Fund (IMF); International … - 2006

This Selected Issues paper analyzes the empirical relationship between corporate leverageâ€”and other indicators of financial healthâ€”and investment in Israel, using dynamic panel data techniques. The results suggest that weak balance sheets may well have contributed to the investment...

Persistent link: https://www.econbiz.de/10011245486