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This paper investigates the emerging global landscape for public-private co-investments in infrastructure. The creation of the Asian Infrastructure Investment Bank and other so-called 'infrastructure investment platforms' are an attempt to tap into the pool of both public and private long-term...
Persistent link: https://www.econbiz.de/10012996096
This paper focuses on the investment behavior of pension funds in developed and emerging market countries. First, it analyzes the main determinants of the emerging market asset allocation of pension funds in developed countries. Second, it assesses how pension funds in emerging markets have...
Persistent link: https://www.econbiz.de/10013212329
This paper examines the impact of highway expansion on aggregate productivity growth andsectoral reallocation between cities in China. To do so, I construct a unique dataset ofbilateral transportation costs between Chinese cities, digitized highway network maps, andfirm-level census. I first...
Persistent link: https://www.econbiz.de/10012895102
Inadequate infrastructure has been widely viewed as a principal barrier to growth and development in Latin America and the Caribbean. This paper provides a comprehensive overview of infrastructure in the region and highlights key areas in which infrastructure networks can be enhanced. The public...
Persistent link: https://www.econbiz.de/10012977778
Greece’s investment rate plunged following the Sovereign Debt Crisis (SDC) and remained one of the lowest in the world …
Persistent link: https://www.econbiz.de/10013295143
There is a role for Asia's financial sector to play to address the challenges associated with the region's changing … intra-regional financial flows and mobilize resources from the aging savers in industrialized Asia to finance infrastructure … investment in emerging Asia. Strengthening the financial ties within the region as well as with the global financial markets …
Persistent link: https://www.econbiz.de/10013049518
We present a model in which shadow banking arises endogenously and undermines marketdiscipline on traditional banks. Depositors' ability to re-optimize in response to crisesimposes market discipline on traditional banks: these banks optimally commit to a safeportfolio strategy to prevent early...
Persistent link: https://www.econbiz.de/10012929925
The policy response to the COVID-19 shock included regulatory easing across many jurisdictions to facilitate the flow of credit to the economy and mitigate a further ampli-fication of the shock through tighter financial conditions. Using an intraday event study,this paper examines how stock...
Persistent link: https://www.econbiz.de/10013226445
The COVID-19 pandemic could result in large government interventions in the banking industry. To shed light on the possible consequences on market power, we rely on the experience of the global financial crisis and exploit granular data on government interventions in more than 800 banks across...
Persistent link: https://www.econbiz.de/10013250086
This paper analyzes a group of 755 firms, with aggregate indebtedness of US$6.2 trillion, to assess the solvency risks and liquidity needs facing the U.S. corporate sector based on projections of net income, availability and cost of funding, and debt servicing flows under different stress test...
Persistent link: https://www.econbiz.de/10013252046