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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

The political economy of financial fragility

Feijen, Erik; Perotti, Enrico C. - 2005

While financial liberalization has in general favorable effects, reforms in countries with poor regulation is often followed by financial crises. We explain this variation as the outcome of lobbying interests capturing the reform process. Even after liberalization, market investors must rely on...

Persistent link: https://www.econbiz.de/10011348359

The political economy of financial systems

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

Persistent link: https://www.econbiz.de/10003739017

Regulating the financial cycle : an integrated approach with a leverage ratio

Schoenmaker, Dirk; Wierts, Peter - 2015

We propose a regulatory approach for restricting debt financing as an amplification mechanism across the financial system. A small stylised model illustrates the trade-off between static and time varying limits on leverage in dampening the financial cycle. The policy section proposes its...

Persistent link: https://www.econbiz.de/10010532609

Measuring financial market integration over the long run : is there a u-shape?

Volosovych, Vadym - 2011

explaining the time variation in integration, while 'unexplained' changes in the overall level of country risk are also …

Persistent link: https://www.econbiz.de/10011382994

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

Eschenbach, Felix - 2004

Persistent link: https://www.econbiz.de/10002026408

Consistent estimation of structural parameters in regression models with adaptive learning

Christopeit, Norbert; Massmann, Michael - 2010

Persistent link: https://www.econbiz.de/10008736921

The rationality behind immigration preferences

Dalen, Hendrik P. van; Henkens, Kène - 2003

What drives stated preferences about the number of foreigners? Is it self-interest as stressed by the political economy of immigration? Does social interaction affect this preference or is the immigration preference completely in line with the preference for the aggregate population size? In...

Persistent link: https://www.econbiz.de/10011334329

A theory of procedurally rational choice: optimization without evaluation

Ficco, Stefano; Karamychev, Vladimir A.; Reeven, Peran … - 2006

Persistent link: https://www.econbiz.de/10003248028

Aggregate risk and efficiency of mutual funds

Kucinskas, Simas - 2015

I analyze welfare properties of mutual funds in the Diamond-Dybvig model with two sources of aggregate risk …: undiversifiable interest rate risk and shocks to aggregate liquidity demand. Mutual funds are inefficient when the economy faces … undiversifiable interest rate risk. However, if only aggregate liquidity demand is stochastic, mutual funds can implement the social …

Persistent link: https://www.econbiz.de/10011339154

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