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Finance and Oil. Is there a Resource Curse in Financial Development?
Beck, Thorsten - Tilburg University, Center for Economic Research - 2011
This paper shows that the finance and growth relationship is as important in resource-based economies as in other economies. This paper also documents less developed financial systems in resource-based economies and banks that are more liquid, better capitalized and more profitable, but give...
Persistent link: https://www.econbiz.de/10011091683
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Informality and Access to Finance : Evidence from India
Beck, Thorsten; Hoseini, M. - Tilburg University, Center for Economic Research - 2014
This paper gauges the effect of financial deepening and bank outreach on informality using micro data from the Indian manufacturing sector and exploiting cross-industry variation in the need for external finance. We distinguish between two channels through which access to finance can reduce...
Persistent link: https://www.econbiz.de/10011090487
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What is the Role of Legal Systems in Financial Intermediation? Theory and Evidence
Da Rin, Marco; Bottazzi, L.; Hellmann, T. - Tilburg University, Center for Economic Research - 2008
We develop a theory and empirical test of how the legal system affects the relationship between venture capitalists and entrepreneurs. The theory uses a double moral hazard framework to show how optimal contracts and investor actions depend on the quality of the legal system. The empirical...
Persistent link: https://www.econbiz.de/10011090634
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The Dynamics in Requested and Granted Loan Terms when Bank and Borrower Interact Repeatedly
Kirschenmann, K. - Tilburg University, Center for Economic Research - 2010
This paper studies how credit constraints develop over bank relationships. I analyze a unique dataset of matched loan application and loan contract information and measure credit constraints as the ratio of requested to granted loan amounts. I find that the most important determinants of...
Persistent link: https://www.econbiz.de/10011091005
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Taxes, Earnings Payout, and Payout Channel Choice
Renneboog, Luc; Geiler, P.H.M. - Tilburg University, Center for Economic Research - 2014
We study the tax regulations in relation to dividends and capital gains over the last two decades for the UK in order to determine whether changes in tax regimes affect corporate payout policy (dividends, share repurchases, or a combination). While we can identify investors’ tax-driven...
Persistent link: https://www.econbiz.de/10011090939
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Mission drawdowns - financing a sustainable peace : sustaining gains and supporting economic stability post un mission withdrawal
OECD - 2020
managed transition process is one of the best ways to guard against backslide and to ensure the continuity of essential … studies in DRC (initial stages of MONUSCO transition), Haiti (handover from MINUJUSH to BINUH), Liberia (following UNMIL …’s withdrawal) and Sudan (transition of UNAMID). The paper focuses on opportunities that the international community could integrate …
Persistent link: https://www.econbiz.de/10012257901
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Political Support for Reforms : Economics of Voting in Transition Countries
Fidrmuc, J. - Tilburg University, Center for Economic Research - 1998
I analyze the relationship between economics and politics across eight parliamentary elections in four transition … across tenures of different governments. In contrast with the responsibility hypothesis, voters in the transition countries …
Persistent link: https://www.econbiz.de/10011091305
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The Political Economy of Financial Systems : Evidence from Suffrage Reforms in the Last Two Centuries
Degryse, Hans; Lambert, T.; Schwienbacher, A. - Tilburg University, Center for Economic Research - 2013
Abstract: Initially, voting rights were limited to wealthy elites providing political support for stock markets. The franchise expansion induces the median voter to provide political support for banking development as this new electorate has lower financial holdings and benefits less from the...
Persistent link: https://www.econbiz.de/10011091017
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The Impact of Bank and Non-Bank Financial Institutions on Local Economic Growth in China
Degryse, Hans; Cheng, X. - Tilburg University, Center for Economic Research - 2006
This paper provides evidence on the relationship between finance and growth in a fast growing country, such as China.Employing data of 27 Chinese provinces over the period 1995-2003, we study whether the financial development of two different types of institutions - banks and non-bank financial...
Persistent link: https://www.econbiz.de/10011091707
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The Role of Finance in Economic Development : Benefits, Risks, and Politics
Beck, Thorsten - Tilburg University, Center for Economic Research - 2011
Abstract: Theoretical and empirical research has shown that a sound and effective financial system is critical for economic development and growth. The financial system, however, is also subject to boom and bust cycles and fragility, with negative repercussions for the real economy. Further, the...
Persistent link: https://www.econbiz.de/10011092153