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The global economy is in the midst of an unprecedented slump caused by the coronavirus pandemic. This systemic risk like no other at a time of record-breaking debt levels, especially among nonfinancial firms across the world, could exacerbate corporate vulnerabilities, deepen macro-financial...
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This paper studies the evolution of non-financial corporate debt among publicly listed companies in major advanced economies between 2010 and 2017. Since 2010, firms have started to rely more on corporate bond markets and have used part of their debt to increase their holdings of cash. In our...
Persistent link: https://www.econbiz.de/10012252676
This paper examines the efficiency of the different segments of India''s financial system using firm-level data on …. Empirical analyses indicate that (1) the financial system in India is not channeling funds into industries with higher external …
Persistent link: https://www.econbiz.de/10014402001
This short paper reviews recent literature on the use of long-term finance in developing economies (relative to advanced ones) to identify where long-term financing occurs, and what role different financial intermediaries and markets play in extending this type of financing. Although banks are...
Persistent link: https://www.econbiz.de/10011671079
We analyze the employment effects of financial shocks using a rich data set of job contracts, matched with the universe of firms and their lending banks in one Italian region. To isolate the effect of the financial shock we construct a firm-specific time-varying measure of credit supply. The...
Persistent link: https://www.econbiz.de/10011716594
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We examine how the development of the digital infrastructure known as the 'India Stack'-including an interoperable … of financial services. While each individual component of the India Stack is important, we argue that its key overarching … synergies across the layers of the Stack. Until recently, a large share of India's population lacked access to formal banking …
Persistent link: https://www.econbiz.de/10012518740
continue have a dominant share in the market. Contractual savings systems have been improved, but pension funds in India are …
Persistent link: https://www.econbiz.de/10011716448