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Machine Learning Indices, Political Institutions, and Economic Development

Gründler, Klaus; Krieger, Tommy - 2018

We present a new aggregation method - called SVM algorithm - and use this technique to produce novel measures of democracy (186 countries, 1960-2014). The method takes its name from a machine learning technique for pattern recognition and has three notable features: it makes functional...

Persistent link: https://www.econbiz.de/10011815823

Using Machine Learning for Measuring Democracy: An Update

Gründler, Klaus; Krieger, Tommy - 2021

We provide a comprehensive overview of the literature on the measurement of democracy and present an extensive update of the Machine Learning indicator of Gründler and Krieger (2016, European Journal of Political Economy). Four improvements are particularly notable: First, we produce a...

Persistent link: https://www.econbiz.de/10012581966

Democracy and Growth: Evidence of a New Measurement

Gründler, Klaus; Krieger, Tommy - 2015

We present a novel approach for measuring democracy based on Support Vector Machines, a mathematical algorithm for pattern recognition. The Support Vector Machines Democracy Index (SVMDI) is continuously on the 0-1-interval and enables a very detailed measurement of democracy for 188 countries...

Persistent link: https://www.econbiz.de/10011431182

Sovereign rating news and financial markets spillovers: Evidence from the European debt crisis

Arezki, Rabah; Candelon, Bertrand; Sy, Amadou - 2011

This paper examines the spillover effects of sovereign rating news on European financial markets during the period 2007-2010. Our main finding is that sovereign rating downgrades have statistically and economically significant spillover effects both across countries and financial markets. The...

Persistent link: https://www.econbiz.de/10010275006

Stock Markets, Banks and Long Run Economics Growth: A Panel Cointegration-Based Analysis

Cavenaile, Laurent; Gengenbach, Christian; Palm, Franz - 2013

The aim of this paper is to investigate the long run relationship between the development of banks and stock markets … as evidence supporting the significance of financial development for economic development although banks and stock …

Persistent link: https://www.econbiz.de/10010328841

Regulation, Financial Crises, and Liberalization Traps

Marchionne, Francesco; Pisicali, Beniamino; Fratianni, … - 2019

To reconcile the mixed empirical results, we develop a theoretical model whose main implication is a concave impact of regulation on the probability of a crisis. We test this relationship by applying a Probit model of a non-linear specification to annual data from 1999 to 2011 drawn from 132...

Persistent link: https://www.econbiz.de/10012052830

How Do Banks Interact with Fintechs? Forms of Alliances and their Impact on Bank Value

Hornuf, Lars; Klus, Milan F.; Lohwasser, Todor S.; … - 2018

traditional banks to modernize their core business activities. Banks attempt to confront the challenges of digitalization by … banks to form alliances with fintechs. Furthermore, we analyze whether such bank-fintech alliances affect the market … valuation of banks. We provide descriptive evidence on the different forms of alliances occurring in practice. Using hand …

Persistent link: https://www.econbiz.de/10011931920