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The Evolving Importance of Banks and Securities Markets

Demirgüç-Kunt, Asli - 2017

This paper examines the evolving importance of banks and securities markets during the process of economic development. As economies develop, they increase their demand for the services provided by securities markets relative to those provided by banks, such that securities markets become...

Persistent link: https://www.econbiz.de/10012975752

Finance and Economic Development : Policy Choices for Developing Countries

Demirgüç-Kunt, Asli - 2016

The empirical literature on finance and development suggests that countries with better developed financial systems experience faster economic growth. Financial development - as captured by size, depth, efficiency, and reach of financial systems - varies sharply around the world, with large...

Persistent link: https://www.econbiz.de/10012748025

Determinants of International Buyout Investments

Aldatmaz, Serdar - 2020

Using a comprehensive and proprietary data set on international private equity activity, this paper studies the determinants of buyout investments across 61 countries and 19 industries over 1990-2017. The study finds evidence that macroeconomic conditions, development of stock and credit...

Persistent link: https://www.econbiz.de/10012838894

Financial Inclusion and Inclusive Growth : A Review of Recent Empirical Evidence

Demirgüç-Kunt, Asli - 2017

There is growing evidence that appropriate financial services have substantial benefits for consumers, especially women and poor adults. This paper provides an overview of financial inclusion around the world and reviews the recent empirical evidence on how the use of financial products -- such...

Persistent link: https://www.econbiz.de/10012957773

The Microfinance Business Model : Enduring Subsidy and Modest Profit

Cull, Robert - 2017

depend on low costs. This paper uses proprietary data on 1,335 microfinance institutions between 2005 and 2009, jointly … percentile. These data suggest that, for some institutions, even modest benefits could yield impressive cost-benefit ratios. At … the same time, the data show that the subsidy is large for some institutions. Counter to expectations, the most heavily …

Persistent link: https://www.econbiz.de/10012968214

How Does Long-Term Finance Affect Economic Volatility?

Demirgüç-Kunt, Asli - 2017

risk. Institutions that facilitate the availability of credit information and contract enforcement mitigate the refinancing …

Persistent link: https://www.econbiz.de/10012970254

The Impact of the Global Financial Crisis on Firms'Capital Structure

Demirgüç-Kunt, Asli - 2017

Using a data set covering about 277,000 firms across 79 countries over the period 2004-11, this paper examines the evolution of firms' capital structure during the global financial crisis and its aftermath in 2010-11. The study finds that firm leverage and debt maturity declined in advanced...

Persistent link: https://www.econbiz.de/10012970413

The Global Findex Database 2014 : Measuring Financial Inclusion Around the World

Demirgüç-Kunt, Asli - 2017

The Global Financial Inclusion (Global Findex) database, launched by the World Bank in 2011, provides comparable indicators showing how people around the world save, borrow, make payments, and manage risk. The 2014 edition of the database reveals that 62 percent of adults worldwide have an...

Persistent link: https://www.econbiz.de/10012971878

Corporate Governance and Bank Insolvency Risk : International Evidence

Anginer, Deniz - 2017

This paper finds that shareholder-friendly corporate governance is positively associated with bank insolvency risk, as proxied by the Z-score and the Merton's distance to default measure, for an international sample of banks over the 2004-08 period. Banks are special in that "good" corporate...

Persistent link: https://www.econbiz.de/10012972797

Deposit Insurance Database

Demirgüç-Kunt, Asli - 2017

This paper provides a comprehensive, global database of deposit insurance arrangements as of 2013. The authors extend their earlier dataset by including recent adopters of deposit insurance and information on the use of government guarantees on banks' assets and liabilities, including during the...

Persistent link: https://www.econbiz.de/10012973077