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The political economy of financial systems

Haber, Stephen H.; Perotti, Enrico C. - 2008

This survey reviews the literature on the political economy of financial structure, broadly defined to include the size of capital markets and banking systems as well as the distribution of access to external finance across firms.The theoretical literature on the institutional basis for...

Persistent link: https://www.econbiz.de/10011374399

Finance and growth : a survey of the theoretical and empirical literature

Eschenbach, Felix - 2004

This paper reviews the theoretical and empirical literature on links between domestic financial development and economic growth. It starts with the pioneers in this field and then classifies two main schools favouring liberal financial regimes. First McKinnon and Shaw advocated financial...

Persistent link: https://www.econbiz.de/10011335226

Network, market, and book-based systemic risk rankings

Leur, Michiel van de; Lucas, André - 2016

We investigate the information content of stock correlation based network measures for systemic risk rankings, such as SIFIRank (based on Google's PageRank). Using European banking data, we first show that SIFIRank is empirically equivalent to a ranking based on average pairwise stock...

Persistent link: https://www.econbiz.de/10011531142

Revisiting the finance and growth nexus : a deeper look at sectors and instruments

Unger, Robert - 2019

This paper investigates empirically whether the relation between finance and growth depends on a specific type of financing. I construct a novel panel data set for 34 high income countries over the time period from 1995 to 2014 based on financial accounts data. It allows distinguishing between...

Persistent link: https://www.econbiz.de/10011962798

Effects of mergers on network models of the financial system

Nevermann, Daniel; Heckmann, Lotta - 2023

Despite the ongoing consolidation trend in the banking industry and the attention some mergers (in particular between large banks) have been receiving, there is no consistent picture of the impact of mergers on the stability of the financial system. In this paper, we aim to provide a universal...

Persistent link: https://www.econbiz.de/10014435357

Natural resources, demand for external finance and financial development

Hattendorff, Christian - 2014

The paper contributes to the ongoing debate on the natural resource curse, which postulates a negative link between natural resource abundance and economic growth. It shows empirically that resource-rich countries appear to have a less developed financial system and investigates a potential...

Persistent link: https://www.econbiz.de/10010433905

Decoupling economic growth and energy use : an empirical cross-country analysis for 10 manufacturing sectors

Mulder, Peter; Groot, Henri L. F. de - 2004

exploring trends in energy- and labour productivity across 10 manufacturing sectors and 14 OECD countries for the period 1970 … considerably to aggregate manufacturing energy-productivity growth and, hence, to decoupling, while in other countries they partly … manufacturing labour-productivity developments. Furthermore, we find labour-productivity growth to be higher on average than energy-productivity …

Persistent link: https://www.econbiz.de/10011334858

The effects of regional banks on economic resilience during the COVID-19 pandemic and the global financial crisis a cross-country comparison of the European countries

Flögel, Franz; Hejnová, Tereza - 2021

An economy's ability to resist adverse shocks, such as an economic recession or natural disaster, is associated with its financial system structure due to different countercyclical funding capabilities. This paper uses a novel database of bank headquarter locations in a cross-country comparison...

Persistent link: https://www.econbiz.de/10012793620

Liquidity creation without banks

Kucinskas, Simas - 2015

I revisit the Diamond-Dybvig model of liquidity insurance in the presence of hidden trades. The key result is that in this environment deposit-taking banks are not necessary for the efficient provision of liquidity. Mutual funds are constrained efficient when supplemented with the same...

Persistent link: https://www.econbiz.de/10011327337

Banking market structure and macroeconomic stability : are low-income countries special?

Bremus, Franziska; Buch, Claudia M. - 2014

Does the structure of banking markets affect macroeconomic volatility and, if yes, is this link different in low-income countries? Banking markets in low-income countries differ from those in developed market economies. Banking systems in lower-income countries are typically smaller and less...

Persistent link: https://www.econbiz.de/10010471853

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