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Can government intervention make firms more investment-ready? A randomized experiment in the Western Balkans

Cusolito, Ana Paula; Dautovic, Ernest; McKenzie, David J. - 2020

Innovative firms with good ideas may still struggle to fine-tune them to the stage where they can attract outside funding. We conduct a five-country randomized experiment that tests the impact of an investment readiness program. Firms then pitched their ideas to independent judges. The program...

Persistent link: https://www.econbiz.de/10012422053

What lies beneath the euro's effect on financial integration? Currency risk, legal harmonization, or trade?

Kalemli-Ozcan, Sebnem; Papaioannou, Elias; Peydró, … - 2010

Although recent research shows that the euro has spurred cross-border financial integration, the exact mechanisms remain unknown. We investigate the underlying channels of the euro’s effect on financial integration using data on bilateral banking linkages among twenty industrial countries in...

Persistent link: https://www.econbiz.de/10011605262

What Lies Beneath the Euro's Effect on Financial Integration? Currency Risk, Legal Harmonization, or Trade?

Kalemli-Ozcan, Sebnem - 2010

Although recent research shows that the euro has spurred cross-border financial integration, the exact mechanisms remain unknown. We investigate the underlying channels of the euro's effect on financial integration using data on bilateral banking linkages among twenty industrial countries in the...

Persistent link: https://www.econbiz.de/10013142360

The external finance premium in the euro area A useful indicator for monetary policy?

Gelain, Paolo - 2010

In this paper I estimate a New Keynesian Dynamic Stochastic General Equilibrium model for the Euro Area, which closely follows the structure of the model developed by Smets and Wouters (2003, 2005, 2007), with the addition of the so-called financial accelerator mechanism developed in Bernanke,...

Persistent link: https://www.econbiz.de/10011605217

The External Finance Premium in the Euro Area : A Useful Indicator for Monetary Policy?

Gelain, Paolo - 2010

Persistent link: https://www.econbiz.de/10013145340

Financial Markets and Green Innovation

Aghion, Philippe; Boneva, Lena; Breckenfelder, Johannes; … - 2022

Fulfilling the commitments embedded in the Paris Agreement requires a climate-technologyrevolution. Patented innovation of low-carbon technologies is lower in the EU than in selectedpeers, and very heterogeneous across member states. We motivate this fact with anendogenous model of directed...

Persistent link: https://www.econbiz.de/10013404039

Financial Cycles, Credit Bubbles and Stabilization Policies

Schuler, Tobias - 2019

loan portfolios, allow for interbank trading and show how a credit bubble can develop from a financial innovation. We then …

Persistent link: https://www.econbiz.de/10012858317

Finance and Diversification

Manganelli, Simone - 2010

We study how financial market efficiency affects a measure of diversification of output across industrial sectors borrowed from the portfolio allocation literature. Using data on sector-level value added for a wide cross section of countries and for various levels of disaggregation, we construct...

Persistent link: https://www.econbiz.de/10013136834

Finance and growth: a macroeconomic assessment of the evidence from a European angle

Papaioannou, Elias - 2007

This paper reviews the literature on the finance-growth nexus within a neoclassical growth framework, placing an emphasis on the policy implications in the current European environment, that has placed financial reforms high on the policy Agenda. While more research is needed to establish...

Persistent link: https://www.econbiz.de/10011604833

Capturing the Financial Cycle in Europe

Stremmel, Hanno - 2015

In this study, we approximate the financial cycle in Europe by combining potential common and relevant financial … indicators. We consider different credit aggregates and asset prices but also incorporate banking sector indicators for 11 … techniques. The best fitted financial cycle measure includes the following financial ingredients: credit to GDP ratio, credit …

Persistent link: https://www.econbiz.de/10013020632