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Financial devlopment, environmental quality, trade and economic growth : what causes what in MENA countries?
Omri, Anis; Daly, Saida; Rault, Christophe; Chaibi, Anissa - 2015
This paper examines the relationship between financial development, CO2 emissions, trade and economic growth using … there is evidence of bidirectional causality between CO2 emissions and economic growth. Economic growth and trade openness … are interrelated i.e. bidirectional causality. Feedback hypothesis is validated between trade openness and financial …
Persistent link: https://www.econbiz.de/10010479344
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Liquidity and international trade
Rodríguez López, Antonio - 2016
, trade liberalization magnifies the gap in economic activity between the countries. …
Persistent link: https://www.econbiz.de/10011587546
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Financial integration and economic growth in Europe
Caporale, Guglielmo Maria; Sova, Anamaria Diana; Sova, … - 2023
This study examines the impact of financial integration on economic growth in the case of 31 European countries over the period from 2000 to 2021 using dynamic panel data models. The estimation results provide evidence of significant positive effects of financial integration on economic growth....
Persistent link: https://www.econbiz.de/10014314278
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Priority roads : the political economy of Africa's interior-to-coast roads
Bonfatti, Roberto; Gu, Yuan; Poelhekke, Steven - 2019
Africa's interior-to-coast roads are well suited to export natural resources, but not to support regional trade. Are …
Persistent link: https://www.econbiz.de/10011966676
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Financial reform and banking crises
Shehzad, Choudhry Tanveer - 2009
We examine the impact of various dimensions of financial reform on the likelihood of systemic and non-systemic banking crises. Using new financial reform measures for a large sample of developing and developed countries for the period 1973 to 2002, our multivariate probit modeling results...
Persistent link: https://www.econbiz.de/10003922715
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External sovereign debt in a monetary union : bailouts and the role of corruption
Achury, Carolina; Koulovatianos, Christos; Tsoukalas, … - 2011
We build a tractable stylized model of external sovereign debt and endogenous international interest rates. In corrupt economies with rent-seeking groups stealing public resources, a politico-economic equilibrium is characterized by permanent fiscal impatience which leads to excessive issuing of...
Persistent link: https://www.econbiz.de/10009240852
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The impact of Basel III on trade finance : the potential unintended consequences of the leverage ratio
Auboin, Marc; Blengini, Isabella - 2014
Trade finance, particularly in the form of short-term letters of credit has received favourable capital treatment new … created leverage ratio for trade. This paper offers a relatively simple model approach showing the conditions under which the … ratio on trade instruments seems to support the analytical framework developed in this paper. …
Persistent link: https://www.econbiz.de/10010404596
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Alternative measures for the global financial cycle : do they make a difference?
Tian, Xin; Jacobs, Jan; Haan, Jakob de - 2022
We construct several measures for the global financial cycle using dynamic factor models and data for 25 advanced and emerging countries over 1980-2019. Our results suggest that global cycles in asset prices and capital flows are highly similar and synchronized, especially during crisis...
Persistent link: https://www.econbiz.de/10013186798
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Italy in the Eurozone
Keuschnigg, Christian; Kirschner, Linda; Kogler, Michael; … - 2020
Using a DSGE model with nominal wage rigidity, we investigate two scenarios for the Italian economy. The first considers sustained policy commitment to reform. The results indicate the possibility of 'growing out of bad initial conditions', if fiscal consolidation is combined with a program for...
Persistent link: https://www.econbiz.de/10012244451
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On remittances, foreign currency exposure and credit constraints : evidence from Nepal
Maskay, Nephil Matangi; Steinkamp, Sven; Westermann, Frank - 2014
In this paper, we investigate whether foreign currency accounts help overcome credit constraints in developing countries. We analyze a novel bank-level data set from Nepal, where a steady inflow of remittances has contributed to foreign currency deposits on commercial bank balance sheets. In...
Persistent link: https://www.econbiz.de/10010428816