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Das (Wasted) Kapital : Firm Ownership and Investment Efficiency in China
Wei, Shang-Jin - 2011
investment intensity by 5 percent of GDP without sacrificing its economic growth (and hence deliver a greater improvement to its …
Persistent link: https://www.econbiz.de/10012756925
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On the Substitution of Private and Public Capital in Production
An, Zidong - 2019
Most macroeconomic models assume that aggregate output is generated by a specification for the production function with total physical capital as a key input. Implicitly this assumes that private and public capital stocks are perfect substitutes. In this paper we test this assumption by...
Persistent link: https://www.econbiz.de/10012858388
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SME Financial Inclusion for Sustained Growth in the Middle East and Central Asia
Ghassibe, Mishel - 2019
promote higher economic growth and employment, especially in the Middle East and Central Asia regions. First, we show that … find substantial employment and labor productivity growth gains at the firm level from access to credit, gains that are … higher for SMEs. We also obtain evidence of a substantial positive impact on SME employment and labor productivity growth …
Persistent link: https://www.econbiz.de/10012859860
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Liquidity Choice and Misallocation of Credit
Ebrahimy, Ehsan - 2020
type. Constrained inefficient equilibria feature non-positive, i.e., one less than or equal the economy's growth rate, and …
Persistent link: https://www.econbiz.de/10012843309
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Financial Development and Inclusion in the Caribbean
Li, Chuan - 2018
growth, inequality, and financial stability-all critical considerations when policies are designed. A case study for Jamaica …
Persistent link: https://www.econbiz.de/10012922629
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On International Integration of Emerging Sovereign Bond Markets
Agur, Itai - 2018
The paper investigates the international integration of EM sovereign dollar-denominatedand local-currency bond markets. Factor analysis is used to examine movements insovereign bond yields and common sources of yield variation. The results suggest that EMdollar-denominated sovereign debt markets...
Persistent link: https://www.econbiz.de/10012928013
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Do Remittances Enhance Financial Inclusion in LMICs and in Fragile States?
Ben Naceur, Sami - 2020
This paper explores the relationship between remittances and financial inclusion for a sample of 187 countries over the period 2004-2015, using cross-country as well as dynamic panel GMM regressions. At low levels of remittances-to-GDP, these flows act as a substitute to formal financial...
Persistent link: https://www.econbiz.de/10012830840
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Non-Resident Holdings of Domestic Debt in Nigeria : Internal or External Driven?
Hosny, Amr - 2020
Foreign holdings of domestic debt instruments in Nigeria have been increasing. Using data over 2007M1-2019M1, we show that, on average, global factors (global interest rates, oil prices) seem to carry more weight than domestic factors (treasury bills rate and domestic risk) in foreign portfolio...
Persistent link: https://www.econbiz.de/10012831602
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The External Balance Assessment Methodology : 2018 Update
Cubeddu, Luis - 2019
The assessment of external positions and exchange rates is a key mandate of the IMF. This paperpresents the updated External Balance Assessment (EBA) framework-a key input in the conduct ofmultilaterally-consistent external sector assessments of 49 advanced and emerging marketeconomies-following...
Persistent link: https://www.econbiz.de/10012888758
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China's Evolving Exchange Rate Regime
Das, Sonali - 2019
China's exchange rate regime has undergone gradual reform since the move away from a fixed exchange rate in 2005. The renminbi has become more flexible over time but is still carefully managed, and depth and liquidity in the onshore FX market is relatively low compared to other countries with de...
Persistent link: https://www.econbiz.de/10012889144