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Does Openness Matter for Financial Development in Africa?
David, Antonio C. - 2014
This paper analyzes the links between financial and trade openness and financial development in Sub-Saharan African (SSA) countries. It is based on a panel dataset using methods that tackle slope heterogeneity, cross-sectional dependence and non-stationarity, important econometric problems that...
Persistent link: https://www.econbiz.de/10013050666
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Financial Development and Inclusion in the Caribbean
Li, Chuan - 2018
Many Caribbean financial systems are relatively well developed for their size but benefits are concentrated in a small part of the population. In several large countries, the financial development levels are below what is warranted by that country's own macroeconomic fundamentals. SMEs, in...
Persistent link: https://www.econbiz.de/10012922629
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Too Much Finance?
Arcand, Jean-Louis - 2012
This paper examines whether there is a threshold above which financial development no longer has a positive effect on economic growth. We use different empirical approaches to show that there can indeed be "too much" finance. In particular, our results suggest that finance starts having a...
Persistent link: https://www.econbiz.de/10013102199
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Sustaining Latin America's Resurgence : Some Historical Perspectives
Cerisola, Martin D. - 2007
This paper looks at the historical lessons that might serve to entrech Latin America's newly resurgent growth phase. It briefly reviews the post-World War II experiences in Latin America and Asia, focusing on the conditions that favored capital accumulation and productivity growth in the faster...
Persistent link: https://www.econbiz.de/10012778186
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How Important is the Global Financial Cycle? Evidence from Capital Flows
Cerutti, Eugenio - 2018
This study quantifies the importance of a Global Financial Cycle (GFCy) for capital flows. We use capital flow data dis-aggregated by direction and type between 1990Q1 and 2015Q5 for 85 countries, and conventional techniques, models and metrics. Since the GFCy is an unobservable concept, we use...
Persistent link: https://www.econbiz.de/10012927465
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The Direct Employment Impact of Public Investment
Moszoro, Marian W. - 2021
We evaluate the direct employment effect of the public investment in key infrastructure—electricity, roads, schools and … in R&D in OECD countries. Green investment and investment with a larger R&D component deliver higher employment effect … through its direct employment effects alone …
Persistent link: https://www.econbiz.de/10013227155
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Inequality and Poverty in India : Impact of COVID-19 Pandemic and Policy Response
Arbatli, Elif C.; Coppo, Mattia; Khalil, Nasser; … - 2023
have temporarily increased poverty and inequality. Second, education and employment status seem to be the main factors … poverty and inequality in India during the pandemic. We have three main findings. First, India has made significant progress … in reducing poverty in recent decades, but the economic downturn associated with the COVID-19 pandemic is estimated to …
Persistent link: https://www.econbiz.de/10014349469
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The Implications of South African Economic Growth for the Rest of Africa
Arora, Vivek B.; Vamvakidis, Athanasios - 2021
This paper measures the extent to which South African economic growth is an engine of growth in sub-Saharan Africa. Results based on panel data estimation for 47 African countries over four decades suggest that South African growth has a substantial positive impact on growth in the rest of...
Persistent link: https://www.econbiz.de/10013318065
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Financial Integration in Asia : Estimating the Risk-Sharing Gains for Australia and Other Nations
Mercereau, Benoît - 2007
Holding foreign assets reduces the volatility of a country's income by allowing countries to share risk. Yet, financial integration is limited in Asia. This paper estimates how much Australia and other countries in the Asia-Pacific region would gain from greater financial integration. The...
Persistent link: https://www.econbiz.de/10012777956
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Managing Credit Bubbles
Martin, Alberto - 2014
We study a dynamic economy where credit is limited by insufficient collateral and, as a result, investment and output are too low. In this environment, changes in investor sentiment or market expectations can give rise to credit bubbles, that is, expansions in credit that are backed not by...
Persistent link: https://www.econbiz.de/10013050667