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Market Phoenixes and Banking Ducks Are Recoveries Faster in Market-Based Financial Systems?
Allard, Julien - 2011
Recoveries vary considerably across countries: our paper compares recoveries in bank-based and market-based economies and finds that market-based economies experience significantly and durably stronger rebounds than the bank-based ones (in particular the more bank-based economies of continental...
Persistent link: https://www.econbiz.de/10014398329
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Trust As a Means of Improving Corporate Governance and Efficiency
Chami, Ralph - 2002
Agency problems within the firm are a significant hindrance to efficiency. We propose trust between coworkers as a … show how trust induces employees to work harder, relative to those at firms that use the standard tools. In addition, we … profits. Finally, we show how trust may also be easier to use within the firm than the standard agency-mitigation tools …
Persistent link: https://www.econbiz.de/10014399593
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Financial inclusion under the microscope
Agarwal, Sumit; Kigabo, Thomas; Minoiu, Camelia; … - 2018
We examine the impact of a large-scale microcredit expansion program on financial access and the transition of previously unbanked borrowers to commercial banks. Using administrative micro-data covering the universe of loans to individuals from a developing country, we show that the program...
Persistent link: https://www.econbiz.de/10011932264
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Financial Frictions, Investment, and Institutions
Yafeh, Yishay - 2010
Financial frictions have been identified as key factors affecting economic fluctuations and growth. But, can institutional reforms reduce financial frictions? Based on a canonical investment model, we consider two potential channels: (i) financial transaction costs at the firm level; and (ii)...
Persistent link: https://www.econbiz.de/10014397491
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Financial crises : explanations, types, and implications
Claessens, Stijn; Kose, M. Ayhan - 2013
fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these …
Persistent link: https://www.econbiz.de/10012671036
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Managing the impact of resource booms on the real effective exchange rate : the role of financial sector development
Herderschee, Han; Li, Ran; Ouedraogo, Abdoulaye; … - 2021
Whereas most of the literature related to the so-called 'resource curse' tends to emphasize on institutional factors and public policies, in this research we focus on the role of the financial sector, which has been surprisingly overlooked. We find that countries that have financial systems with...
Persistent link: https://www.econbiz.de/10012518905
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What can we learn from financial stability reports?
Comelli, Fabio; Ogawa, Sumiko - 2021
This paper reviews the approaches to systemic risk analysis in 32 central bank financial stability reports (FSRs). We compare and contrast the systemic risk analysis in FSRs with the IMF Article IV staff reports, noting that Article IV staff reports and FSRs frequently pick up analytical content...
Persistent link: https://www.econbiz.de/10012605532
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Can financial soundness indicators help predict financial sector distress?
Pietrzak, Marcin - 2021
This paper shows how the role of Financial Soundness Indicators (FSIs) in financial surveillance can be usefully enhanced. Drawing from different statistical techniques, the paper illustrates that FSIs generate signals that can accurately detect, with 4 to 12 quarters lead, emerging financial...
Persistent link: https://www.econbiz.de/10012605544
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Financial development and inclusion in the Caribbean
Li, Chuan; Wong, Joyce Cheng - 2018
Many Caribbean financial systems are relatively well developed for their size but benefits are concentrated in a small part of the population. In several large countries, the financial development levels are below what is warranted by that country's own macroeconomic fundamentals. SMEs, in...
Persistent link: https://www.econbiz.de/10011848121
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Dollarization and financial development
Bannister, Geoffrey J.; Gardberg, Malin; Turunen, Jarkko - 2018
Despite significant strides in financial development over the past decades, financial dollarization, as reflected in elevated shares of foreign currency deposits and credit in the banking system, remains common in developing economies. We study the impact of financial dollarization,...
Persistent link: https://www.econbiz.de/10011932543