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How Successful Are Banking Sector Reforms in Emerging Market Economies? Evidence from Impact of Monetary Policy on Levels and Structures of Firm Debt in India
Bhaumik, Sumon K.; Kutan, Ali M.; Majumdar, Sudipa - 2016
Many emerging markets have undertaken significant financial sector reforms especially in their banking sectors that have been quite critical for both financial development and real economic activity. In this paper, we investigate the success of banking reforms in India where significant banking...
Persistent link: https://www.econbiz.de/10011525080
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Excess leverage and productivity growth in emerging economies: Is there a threshold effect?
Coricelli, Fabrizio; Driffield, Nigel; Pal, Sarmistha; … - 2010
The paper examines the relationship between leverage and growth in a group of emerging central and eastern European countries, who are at different levels of financial market development. We hypothesize a non-linear relationship in that moderate leverage could boost growth while very high...
Persistent link: https://www.econbiz.de/10010269864
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Excess Leverage and Productivity Growth in Emerging Economies: Is There A Threshold Effect?
Coricelli, Fabrizio; Driffield, Nigel; Pal, Sarmistha; … - Institute for the Study of Labor (IZA) - 2010
The paper examines the relationship between leverage and growth in a group of emerging central and eastern European countries, who are at different levels of financial market development. We hypothesize a non-linear relationship in that moderate leverage could boost growth while very high...
Persistent link: https://www.econbiz.de/10008529130
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Evolution of Capital Structure in East Asia: Corporate Inertia or Endeavours?
Driffield, Nigel; Pal, Sarmistha - Institute for the Study of Labor (IZA) - 2008
The present paper examines the capital structure adjustment dynamics of listed non-financial corporations in seven East Asian countries during 1994-2002. Compared to firms in the least affected countries, average leverages were much higher among firms in the worst affected countries while the...
Persistent link: https://www.econbiz.de/10005566540
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Financial dependence, formal credit, and informal jobs: new evidence from Brazilian household data
Catão, Luis A. V.; Pagés, Carmen; Rosales, Maria Fernanda - 2009
This paper examines a much overlooked link between credit markets and formalization: since access to bank credit typically requires compliance with tax and employment legislation, firms are more likely to incur such formalization costs once bank credit is more widely available at lower cost; if...
Persistent link: https://www.econbiz.de/10010269636
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The Interplay among Savings Accounts and Network-Based Financial Arrangements: Evidence from a Field Experiment
Comola, Margherita; Prina, Silvia - 2023
This paper studies how formal financial access affects network-based financial arrangements. We use a field experiment that granted access to a savings account to a random subset of households in 19 Nepalese villages. Exploiting a unique panel dataset that follows all bilateral informal...
Persistent link: https://www.econbiz.de/10014377206
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Liquidity or Capital? The Impacts of Easing Credit Constraints in Rural Mexico
Aparicio, Gabriela; Bobic, Vida; De Olloqui, Fernando; … - 2021
This paper evaluates the effectiveness of easing credit constraints for rural producers in Mexico through loans provided by a national public development finance institution (DFI). In contrast to most of the existing literature, the study focuses on the effect of medium-sized loans over a two-...
Persistent link: https://www.econbiz.de/10012597623
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Financial Dependence, Formal Credit, and Informal Jobs: New Evidence from Brazilian Household Data
Catão, Luis A. V.; Pagés, Carmen; Rosales, Maria Fernanda - Institute for the Study of Labor (IZA) - 2009
This paper examines a much overlooked link between credit markets and formalization: since access to bank credit typically requires compliance with tax and employment legislation, firms are more likely to incur such formalization costs once bank credit is more widely available at lower cost; if...
Persistent link: https://www.econbiz.de/10008514866
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When Does FDI Have Positive Spillovers? Evidence from 17 Transition Market Economies
Gorodnichenko, Yuriy; Svejnar, Jan; Terrell, Katherine - 2013
and existing hypotheses about the impact of foreign direct investment (FDI) on the efficiency of domestic firms in the …
Persistent link: https://www.econbiz.de/10010329186
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Are Rushed Privatizations Substandard? Analyzing Firm-Level Privatization under Fiscal Pressure
Hagemeier, Jan; Svejnar, Jan; Tyrowicz, Joanna - 2018
, increase or decrease firms' efficiency, scale of operation (size) and employment. Using a large panel of firm-level data from … Poland over 1995-2015, we show that rushed privatization has negative efficiency, scale and employment effects relative to … stronger than its negative effect on efficiency. Our results suggest that when policy makers resort to rushed privatization …
Persistent link: https://www.econbiz.de/10011873521