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Is the Relationship between Financial Development and Economic Growth Monotonic? Evidence from a Sample of Middle Income Countries
Samargandi, Nahla - 2014
We revisit the relationship between financial development and economic growth in a panel of 52 middle income countries … financial development does not have a linear positive long-run impact on economic growth in this sample. When we consider a non …-linear relationship between financial development and growth, we find an inverted U-shaped relationship between finance and growth in the …
Persistent link: https://www.econbiz.de/10013054321
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Unraveling the Fortunates of the Fortunate : An Iterative Bayesian Model Averaging (IBMA) Approach
Eicher, Theo S. - 2007
We investigate country heterogeneity in cross-country growth regressions. In contrast to the previous literature that … focuses on low-income countries, this study also highlights growth determinants in high-income (OECD) countries. We introduce … inherent in growth regressions. IBMA is essential to our estimation because the simultaneous consideration of model uncertainty …
Persistent link: https://www.econbiz.de/10012777687
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Investment in Relationship-Specific Assets: Does Finance Matter?
Strieborny, Martin; Kukenova, Madina - CESifo - 2011
and short-term planning horizon can also lead to such underinvestment. Subsequently, banks can stimulate growth …
Persistent link: https://www.econbiz.de/10008853853
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Is the Relationship between Financial Development and Economic Growth Monotonic? Evidence from a Sample of Middle Income Countries
Samargandi, Nahla; Fidrmuc, Jan; Ghosh, Sugata - CESifo - 2014
We revisit the relationship between financial development and economic growth in a panel of 52 middle income countries … financial development does not have a linear positive long-run impact on economic growth in this sample. When we consider a non …-linear relationship between financial development and growth, we find an inverted U-shaped relationship between finance and growth in the …
Persistent link: https://www.econbiz.de/10010757725
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Euro Area Imbalances
Mink, Mark - 2017
We argue that if currency union member states have different potential output per capita, output growth rates, or trade … trade balances are quite large, while output growth imbalances are more modest. Member states with larger imbalances of one …
Persistent link: https://www.econbiz.de/10012963380
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Euro Area SMEs Under Financial Constraints : Belief or Reality?
Artola, Concha - 2013
During the recent financial crisis, euro area firms, and especially Small and Medium-sized Enterprises, have been reporting acute problems of access to external finance. Using firm-level replies to the SME survey on access to finance, we use two indicators of financing constraints based on...
Persistent link: https://www.econbiz.de/10013092075
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Current Account Imbalances and Structural Adjustment in the Euro Area : How to Rebalance Competitiveness
Zemanek, Holger - 2014
Low international competitiveness of a set of euro area countries, which have become evident by large current account deficits and rising risk premiums on government bonds, is one of the most challenging economic policy issues for Europe. We analyse the role of private restructuring and public...
Persistent link: https://www.econbiz.de/10013071193
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Labor Market Policies and European Crises
Bertola, Giuseppe - 2013
This paper studies theoretically and empirically why and how labor policies may reduce productivity and employment in order to stabilize labor incomes and redistribute resources. It proposes a specific stylized model where the tradeoffs facing labor policies are influenced by structural factors,...
Persistent link: https://www.econbiz.de/10013073087
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Emu Enlargement, Policy Uncertainty and Economic Reforms
Hefeker, Carsten - 2021
The paper analyzes the relation between monetary uncertainty and government incentives to implement economic reforms that reduce structural distortions and make economies more flexible. It is shown that uncertainty about the central bank's reaction function leads to more reforms. I relate this...
Persistent link: https://www.econbiz.de/10013317517
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How I Learned to Stop Worrying and Love the Crisis
Fidrmuc, Jan - 2012
economic reform, economic growth and, with a delay, on investment and institutional change. Episode of high inflation, moreover …
Persistent link: https://www.econbiz.de/10013111368