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Intro -- Contents -- I. INTRODUCTION -- II. HOW IMPORTANT IS PUBLIC SECTOR CREDIT, AND WHERE? -- III. HOW PUBLIC SECTOR CREDIT COULD HARM FINANCIAL DEVELOPMENT -- IV. DOES PUBLIC SECTOR CREDIT AFFECT THE DEPTH OF FINANCIAL DEVELOPMENT? -- V. DOES PUBLIC SECTOR CREDIT AFFECT THE QUALITY OF...
Persistent link: https://www.econbiz.de/10012691133
Using firm-level data for Estonia for the years 1997-2005, we analyze the impact of international competition on firm …
Persistent link: https://www.econbiz.de/10012677370
We compare and contrast the economic growth performance of Estonia and Georgia since the collapse of the Soviet Union … and efficiency in Estonia than in Georgia which remains marred by various problems related to weak governance in the …
Persistent link: https://www.econbiz.de/10014409064
The aim of this empirical study is to describe and provide analysis on the experience of managing capital flows in Iceland and the Baltic countries. During the build-up of the crisis, there were shortcomings in macroeconomic policies and in the policy mix, as well as in financial supervision in...
Persistent link: https://www.econbiz.de/10010790271
The global financial crisis has magnified the role of Financial Sector Surveillance (FSS) in the Fund's activities. This paper surveys the various steps and initiatives through which the Fund has increasingly deepened its involvement in FSS. Overall, this process can be characterized by a...
Persistent link: https://www.econbiz.de/10012677502
The paper assesses the effects of certain institutional factors on financial sector development in Sub- Saharan Africa (SSA). Data Envelopment Analysis (DEA) is applied to determine the extent to which these institutions affect the financial sector, and to suggest which institutions play a more...
Persistent link: https://www.econbiz.de/10012677506
In the spirit of what is known as business cycle accounting, this paper finds that the investment wedge-the gap between household's rate of intertemporal substitution and the marginal product of capital-is large and quantitatively significant in explaining China's and India's growth. Specific...
Persistent link: https://www.econbiz.de/10012677577
The paper analyzes the quality of financial sector regulation and supervision around the globe. Unlike studies that collect and analyze data on regulation and supervision ""on the books,"" this study also analyzes available information on supervisory implementation, making use of data from...
Persistent link: https://www.econbiz.de/10012677629
This paper studies whether the policies that, over the past decades, liberalized bankingsystems around the world have resulted in deeper credit markets. To measure banking sectorreforms we use a new index that tracks policy changes in five separate areas for 91 countriesover 1973-2005. We find...
Persistent link: https://www.econbiz.de/10012677692
The EU is deliberating the introduction of an explicit ""European mandate"" for financial sector supervisors to supplement national mandates. Suggestions are made on (i) the formulation of a European mandate; (ii) the policy areas to which it should apply; (iii) which institutions should be given...
Persistent link: https://www.econbiz.de/10012677706