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Resolving the African Financial Development Gap : Cross-Country Comparisons and a Within-Country Study of Kenya

Allen, Franklin - 2012

With extensive country- and firm-level data sets we first document that the financial sectors of most sub-Saharan African countries remain significantly underdeveloped by the standards of other developing countries. We also find that population density appears to be considerably more important...

Persistent link: https://www.econbiz.de/10012460646

Exporting Raises Productivity in Sub-Saharan African Manufacturing Plants

Van Biesebroeck, Johannes - 2003

frontier and that the frontier will move out faster. In particular, plants that export will achieve a higher productivity level … status on productivity for a panel of manufacturing plants in nine African countries. The results indicate that exporters in … increase their productivity advantage after entry into the export market. While the first finding can be explained by selection …

Persistent link: https://www.econbiz.de/10012468678

An Empirical Analysis of the Swaption Cube

Trolle, Anders B. - 2010

We use a comprehensive database of inter-dealer quotes to conduct the first empirical analysis of the dynamics of the swaption cube. Using a model independent approach, we establish a set of stylized facts regarding the cross-sectional and time-series variation of conditional volatility and...

Persistent link: https://www.econbiz.de/10012462108

Financial sector development in the Pacific Rim : [NBER-East Asia Seminar on Economics, volume 18]

Itō, Takatoshi (contributor); Rose, Andrew (contributor) - 2009

Examines the institutional factors influencing financial innovation, the consequences of financial development, widespread consolidation occurring through mergers and acquisitions, and the implementation of policy reform.--From publisher description

Persistent link: https://www.econbiz.de/10003711585

Financial development and growth in the short and long run

Fisman, Raymond - 2004

"We analyze the relationship between financial development and inter-industry resource allocation in the short- and long-run. We suggest that in the long-run, economies with high rates of financial development will devote relatively more resources to industries with a 'natural' reliance on...

Persistent link: https://www.econbiz.de/10010523015

International Capital Movements, Financial Volatility and Financial Instability

Mishkin, Frederic S. - 1999

This lecture outlines an asymmetric information theory of financial instability which describes the fundamental forces which harm both the financial sector and economic activity. This asymmetric information framework is then used to demonstrate that although international capital movements and...

Persistent link: https://www.econbiz.de/10012471510

Financial Regulation in a Quantitative Model of the Modern Banking System

Begenau, Juliane; Landvoigt, Tim - National Bureau of Economic Research - 2021

How does the shadow banking system respond to changes in capital regulation of commercial banks? We propose a quantitative general equilibrium model with regulated and unregulated banks to study the unintended consequences of regulation. Tighter capital requirements for regulated banks cause...

Persistent link: https://www.econbiz.de/10012482716

Financial Sector Regulation and Reforms in Emerging Markets : An Overview

Prasad, Eswar S. - 2010

This paper provides an overview of the complex conceptual and practical challenges that emerging market economies face as they attempt to reform their frameworks for financial regulation. These economies are striving to balance the quest for financial stability with the imperatives of financial...

Persistent link: https://www.econbiz.de/10012462228

Central Banks and the Financial System

Giavazzi, Francesco - 2010

Financial systems are inherently fragile because of the very function which makes them valuable: liquidity transformation. Regulatory reforms can strengthen the financial system and decrease the risk of liquidity crises, but they cannot eliminate it completely. This leaves monetary policy with a...

Persistent link: https://www.econbiz.de/10012462427

Finance and Inequality : Theory and Evidence

Demirguc-Kunt, Asli - 2009

This paper critically reviews the literature on finance and inequality, highlighting substantive gaps in the literature. Finance plays a crucial role in most theories of persistent inequality. Unsurprisingly, therefore, economic theory provides a rich set of predictions concerning both the...

Persistent link: https://www.econbiz.de/10012463376

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