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International financial integration of Mediterranean economies : A bird’s-eye view
Peeters, Marga; Sabri, Nidal Rachid - Volkswirtschaftliche Fakultät, … - 2012
In light of the unprecedented developments in the financial sectors of developed economies in the years 2008-2009 and in view of the current political Arab upheaval, this paper reviews the pros and cons of financial integration of the South-Mediterranean region. Our analyses includes Morocco,...
Persistent link: https://www.econbiz.de/10011257867
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Firms as monitor of other firms: mutual guarantee institutions and SME finance
Columba, Francesco; Leonardo, Gambacorta; Paolo Emilio, … - Volkswirtschaftliche Fakultät, … - 2008
A large body of literature has shown that small firms, due to their opaqueness, may find it difficult to access the credit market. Informational asymmetries may be mitigated by posting collateral or by building relationships with lenders (relationship lending). However, in some cases, due to a...
Persistent link: https://www.econbiz.de/10005835569
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Performance and corporate governance in microfinance institutions
Mersland, Roy; Strøm, Reidar Øystein - Volkswirtschaftliche Fakultät, … - 2007
We trace the relationship between firm performance and corporate governance in microfinance institutions (MFI) utilising a self constructed global data set on MFIs, collected from third-party rating agencies. We study the effect of board characteristics, ownership type, competition and...
Persistent link: https://www.econbiz.de/10005836719
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The effects of mutual guarantee consortia on the quality of bank lending
Columba, Francesco; Gambacorta, Leonardo; Mistrulli, … - Volkswirtschaftliche Fakultät, … - 2009
In this paper we investigate whether or not mutual guarantee consortia (MGC), a financial institution well developed in Italy, alleviate the difficulties that Small and Medium Enterprises (SMEs) face when they ask for a bank loan. We find that the probability of a small firm affiliated to a MGC...
Persistent link: https://www.econbiz.de/10005109557
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Performance and corporate governance in microfinance institutions
Mersland, Roy; Strøm, Reidar Øystein - Volkswirtschaftliche Fakultät, … - 2007
We trace the relationship between firm performance and corporate governance in microfinance institutions (MFI) utilising a self constructed global data set on MFIs, collected from third-party rating agencies. We study the effect of board characteristics, ownership type, competition and...
Persistent link: https://www.econbiz.de/10005617094
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Globalized Banking Sectors: Features and Policy Implications amidst Global Uncertainties
Siregar, Reza - Volkswirtschaftliche Fakultät, … - 2013
Amidst the global financial uncertainties since 2007, the East and Southeast Asian economies continued to attract a significant bulk of the global banks’ loans to emerging markets, albeit at a decelerating rate. The alleged advantages of these lending are wellknown. Yet the recent interruption...
Persistent link: https://www.econbiz.de/10011261126
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Challenges for Systemic Risk Assessment in Low-Income Countries
Catalan, Mario; Demekas, Dimitri - Volkswirtschaftliche Fakultät, … - 2015
Assessing and monitoring systemic risk is a challenge for policy makers and supervisors in all countries. It is particularly challenging in low-income countries (LICs), owing to a number of characteristics shared to a greater or lesser extent by most of them. This paper discusses these common...
Persistent link: https://www.econbiz.de/10011274386
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The Diversification Potential Offered by Emerging Markets in Recent Years
Camilleri, Silvio John; Galea, Gabriella - Volkswirtschaftliche Fakultät, … - 2009
This paper investigates the diversification prospects which may be reaped when investing in a mixture of emerging and … diversification potential and therefore risk reduction. Yet, the latter may be counterbalanced by the fact that emerging markets … that emerging markets have offered diversification potential. However we also find evidence of features which make it more …
Persistent link: https://www.econbiz.de/10011189011
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Firm Leverage and the Financial Crisis
Altunok, Fatih; Oduncu, Arif - Volkswirtschaftliche Fakultät, … - 2013
The firm growth dynamics is an important topic since the growth performance of firms is the main source of the economic growth in countries. Generally, crises produce a sharp decline in firms’ growth and this leads to a decline in both the level of employment and the income of households. This...
Persistent link: https://www.econbiz.de/10011258514
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Finance and Inequality: How Does Globalization Change Their Relationship?
Kunieda, Takuma; Okada, Keisuke; Shibata, Akihisa - Volkswirtschaftliche Fakultät, … - 2011
This research demonstrates that international financial integration changes the way in which financial development affects inequality within a country. Specifically, both the cross-country analysis and the dynamic panel data analysis using data collected from more than 100 countries provide...
Persistent link: https://www.econbiz.de/10009386709