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Using micro level panel data, we analyze the impacts of rates of return gap between fixed and financial investments under uncertainty on real investment performance in three emerging markets, Argentina, Mexico and Turkey. Employing a portfolio choice model to explain the low fixed investment...
Persistent link: https://www.econbiz.de/10005835617
affects inequality within a country. Specifically, both the cross-country analysis and the dynamic panel data analysis using … open to the world market, financial development widens inequality within that country, whereas if the financial market of a … country is highly closed to the world market, financial development narrows inequality within that country. Our theoretical …
Persistent link: https://www.econbiz.de/10009386709
The relationship between economic development and income inequality is not neutral vis-à-vis the role of the financial … inequality (e.g. Banarjee and Newman, 1993; Piketty, 1997), taking in account the asymmetric impact of the financial … inequality. In this paper we try to analyze the effect of introducing profit-sharing financial contract between banks and …
Persistent link: https://www.econbiz.de/10011107422
South has doubled. Inequality is measured as the ratio between GDP per capita in the IMF’s ‘Advanced countries’ and all …
Persistent link: https://www.econbiz.de/10005789424
This article is a prepublication transcript of ‘Has the Empire Struck Back?’ in Albritton, R, Makoto Itoh, Richard Westra and Alan Zuege (eds) Phases of Capitalist Development: Booms, Crises, and Globalization, pp195-215. London: McMillan. ISBN 0 33375 316 X The paper conducts an empirical...
Persistent link: https://www.econbiz.de/10005789594
This paper was presented at 15:00 hours local time in Ankara, Turkey on 11th September 2001. On the basis of an economic analysis of the world economy it surmises an entry into an ‘age of war’ – a period of financial and military competition between advanced countries comparable to the...
Persistent link: https://www.econbiz.de/10005620000
. Inequality is measured as the ratio between GDP per capita in the IMF’s ‘Advanced countries’ and all remaining countries, in …
Persistent link: https://www.econbiz.de/10005621899
This paper, published in Labour Focus on Eastern Europe , Number 59, 1998. pp 74-93 and reproduced in a number of journals and books, examines the consequences for world trade of the restructuring – commonly termed ‘globalisation’ that arose out of the Uruguay round of the GATT and let to...
Persistent link: https://www.econbiz.de/10005622111
weight of two decades of accelerating economic stagnation, accompanied by universally growing inequality. The governments of …
Persistent link: https://www.econbiz.de/10005626861
The existing theoretical analysis of microfinance focuses on the nature of the loan contract such as group liability. We draw attention to the role of missing or imperfect labor market in understanding some of the important `second generation' debates in microfinance. Our analysis helps explain...
Persistent link: https://www.econbiz.de/10011111423