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Competition in the Financial Sector : Overview of Competition Policies
Claessens, Stijn - 2009
As in other sectors, competition in finance matters for allocative, productive and dynamic efficiency. Theory suggests …, however, that unfettered competition is not first best given the special features of finance. I review these analytics and … describe how to assess the degree of competition in markets for financial services. Existing research shows that the degree of …
Persistent link: https://www.econbiz.de/10014404300
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Global declining competition
Díez, Federico J.; Fan, Jiayue; Villegas-Sánchez, Carolina - 2019
power in global markets. First, competition has declined around the world, measured as a moderate increase in average firm …
Persistent link: https://www.econbiz.de/10012019850
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The short-term impact of product market reforms : a cross-country firm-level analysis
Gál, Peter; Hijzen, Alexander - 2016
This paper analyzes the effects of product market reforms in the short and medium term across 10 regulated industries and 18 advanced economies for the period 1998-2013 using internationally comparable firm-level data based on Orbis. It provides four key insights. First, product market reforms...
Persistent link: https://www.econbiz.de/10011711526
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How do regulations of entry and credit access relate to industry competition? : international evidence
Igan, Deniz; Mirzaei, Ali; Moore, Tomoe - 2018
We examine the extent to which regulations of entry and credit access are related to competition using data on 28 … competition, as proxied by the price-cost margin, in the industries with a naturally high entry rate. Rigid entry regulations are … exerting a positive effect on competition. These results suggest that incumbent firms are likely to enjoy the rent and market …
Persistent link: https://www.econbiz.de/10011848240
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Intellectual Property Rights and International RandD Competition
Scandizzo, Stefania - 2001
participation in the World Trade Organization, or, more controversially, some form of bilateral punishment, may be used …
Persistent link: https://www.econbiz.de/10014401239
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The sectoral trade losses from financial crises
Atsebi, Bédhat Jean-Marc; Combes, Jean-Louis; Minea, … - 2021
The "Great Trade Collapse" triggered by the 2008-09 crisis calls for a careful assessment of the trade losses from financial crises. We adopt a more detailed perspective by looking at the response of different types of trade (i.e. agricultural, mining, and manufactured goods, and services)...
Persistent link: https://www.econbiz.de/10012610647
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Fiscal stimulus impact on firms' profitability during the global financial crisis
Correa-Caro, Carolina; Medina, Leandro; … - 2018
Using financial statement data from the Thomson Reuter's Worldscope database for 22,333 non-financial firms in 52 advanced and emerging economies, this paper examines how fiscal stimulus (i.e., changes in structural deficit) interacted with sectoral business cycle sensitivity affected corporate...
Persistent link: https://www.econbiz.de/10011978407
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The global economic recovery 10 years after the 2008 financial crisis
Chen, Wenjie; Mrkaic, Mico; Nabar, Malhar - 2019
This paper takes stock of the global economic recovery a decade after the 2008 financial crisis. Output losses after the crisis appear to be persistent, irrespective of whether a country suffered a banking crisis in 2007-08. Sluggish investment was a key channel through which these losses...
Persistent link: https://www.econbiz.de/10012019853
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Macroeconomic consequences of tariffs
Furceri, Davide; Ahmed Hannan, Swarnali; Ostry, … - 2019
We study the macroeconomic consequences of tariffs. We estimate impulse response functions from local projections using a panel of annual data that spans 151 countries over 1963-2014. We find that tariff increases lead, in the medium term, to economically and statistically significant declines...
Persistent link: https://www.econbiz.de/10012001500
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Macroeconomic and financial policies for climate change mitigation : a review of the literature
Krogstrup, Signe; Oman, William - 2019
Climate change is one of the greatest challenges of this century. Mitigation requires a large-scale transition to a low-carbon economy. This paper provides an overview of the rapidly growing literature on the role of macroeconomic and financial policy tools in enabling this transition. The...
Persistent link: https://www.econbiz.de/10012103638