Showing 1 - 10 of 210
This paper presents the DIGNAR (Debt, Investment, Growth, and Natural Resources) model, which can be used to analyze the debt sustainability and macroeconomic effects of public investment plans in resource-abundant developing countries. DIGNAR is a dynamic, stochastic model of a small open...
Persistent link: https://www.econbiz.de/10011123850
We develop a tractable small open-economy model to study the first-round effects of international food price shocks in developing countries. We define first-round effects as changes in headline inflation that, holding core inflation constant, help implement relative price adjustments. The model...
Persistent link: https://www.econbiz.de/10011242189
This paper analyzes how differences in legal origin, judicial efficiency, and investor protection affect firm leverage and earnings volatility across developing countries. Using a large number of developing countries, four main findings are highlighted. First, firms in civil legal origin...
Persistent link: https://www.econbiz.de/10011242231
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
While public financial institutions (such as public development banks) are commonly associated with developing countries, in fact they are prevalent in the developed world as well. We study a sample of public financial institutions in industrialized countries and identify dominant trends in...
Persistent link: https://www.econbiz.de/10005826304
Algeria’s local corporate bond market provides a good basis for further diversifying the economy’s financing channels. This study analyzes the nexus of bank financing of public enterprises in the ongoing national investment program (NIP) and also sets Algeria’s local...
Persistent link: https://www.econbiz.de/10011242931
This paper analyzes the implications of global rebalancing in the post-crisis period for Korea and how high leverage in the household and SMEs sectors could affect this process. The first section of the paper discusses implications of global rebalancing for Korea using simulations from the...
Persistent link: https://www.econbiz.de/10011243587
This paper is an analysis of Japan’s credit channel. The economic condition has no hindrance, but credit demand showed an inert performance. The state’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
, addressing the SME loan problem in Europe will be critical for strengthening bank and corporate balance sheets and supporting a …
Persistent link: https://www.econbiz.de/10011245900
This paper investigates the effect of fiscal transparency on market assessments of sovereign risk, as measured by credit ratings. It measures this effect through a direct channel (uncertainty reduction) and an indirect channel (better fiscal policies and outcomes), and it differentiates between...
Persistent link: https://www.econbiz.de/10011142007