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Drivers and Obstacles to Banking SMEs : The Role of Competition and the Institutional Framework
de la Torre, Augusto - 2009
foster SME lending and attention has focused on improving the institutional environment, such that the financial system is … more willing to lend to SMEs. In this paper, we directly ask banks (the main providers of SME external finance) what … and retail sectors. They perceive the SME market as highly profitable, large, and with good prospects. Moreover, banks are …
Persistent link: https://www.econbiz.de/10013159698
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Microeconometric Evidence of Financing Frictions and Innovative Activity
Tiwari, Amaresh - 2014
Using Dutch data we empirically investigate how financing and innovation vary across firm characteristics. We find that when firms face financial constraints, debt financing and innovation choices are not independent of firm characteristics, and R&D slows down. In the absence of financial...
Persistent link: https://www.econbiz.de/10013057269
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Assessing the Macroeconomic Forecasting Performance of Boosting - Evidence for the United States, the Euro Area, and Germany
Buchen, Teresa - 2013
The use of large datasets for macroeconomic forecasting has received a great deal of interest recently. Boosting is one possible method of using high-dimensional data for this purpose. It is a stage-wise additive modelling procedure, which, in a linear specification, becomes a variable selection...
Persistent link: https://www.econbiz.de/10013085278
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The Impact of an Unexpected Wage Cut on Corruption : Evidence from a 'Xeroxed' Exam
Borcan, Oana - 2013
This paper aims to understand how corruption responds to an income loss. We exploit an unexpected 25% wage cut incurred in 2010 by all Romanian public sector employees, including the public education staff. We investigate a corruptible high-stake exam taking place shortly after the wage...
Persistent link: https://www.econbiz.de/10013089162
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The Structure of Worker Compensation in Brazil, with a Comparison to France and the United States
Menezes-Filho, Naercio - 2010
We employ a comprehensive matched employer-employee data set for Brazil to analyze wage determinants and compare results to Abowd, Kramarz, Margolis and Troske (2001) for French and U.S. manufacturing. Returns to education and experience in Brazilian manufacturing exceed those of the other...
Persistent link: https://www.econbiz.de/10012761738
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Coping with Change : International Differences in the Returns to Skills
Hanushek, Eric A. - 2016
Expanded international data from the PIAAC survey of adult skills allow us to analyze potential sources of the cross-country variation of comparably estimated labor-market returns to skills in a more diverse set of 32 countries. Returns to skills are systematically larger in countries that have...
Persistent link: https://www.econbiz.de/10012979542
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Robust Determinants of the Shadow Economy : An International Comparison
Goel, Rajeev K. - 2016
To synthesize the literature on determinants of the shadow economy, this paper uses three cross-national shadow economy measures and employs numerous determinants over hundreds of model combinations to identify robust determinants of the shadow economy and address modeling uncertainty. We find...
Persistent link: https://www.econbiz.de/10012992010
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Asymmetry in Volatility : A Comparison of Developed and Transition Stock Markets
Wdowinski, Piotr; Malecka, Marta - 2021
ARCH modelling framework of Engle (1982) and its GARCH generalization of Bollerslev (1986) gave a huge impetus to econometric model building in the field of financial time series with time-varying variance. The main idea of the models was to describe the most typical features of capital markets...
Persistent link: https://www.econbiz.de/10013316234
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Is the International Border Effect Larger than the Domestic Border Effect? Evidence from U.S. Trade
Coughlin, Cletus C. - 2013
Many studies have found that international borders represent large barriers to trade. But how do international borders compare to domestic border barriers? We investigate international and domestic border barriers in a unified framework. We consider a unique data set of exports from individual...
Persistent link: https://www.econbiz.de/10013095339
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A Cross-Country Empirical Analysis of International Reserves
Cheung, Yin-Wong - 2013
between developed and developing economies and is not stable over time. The estimation results indicate that, especially …
Persistent link: https://www.econbiz.de/10013095899