Narrow search
Showing 1 - 10 of 1,753
Cover Image
The Great Reversals : The Politics of Financial Development in the 20th Century
Rajan, Raghuram G. - 2010
We show that the development of the financial sector does not change monotonically over time. In particular, we find that by most measures, countries were more financially developed in 1913 than in 1980 and only recently have they surpassed their 1913 levels. This pattern is inconsistent with...
Persistent link: https://www.econbiz.de/10012763181
Cover Image
Productivity Growth and Capital Flows : The Dynamics of Reforms
Buera, Francisco J. - 2010
heterogeneous producers and underdeveloped domestic financial markets to study the joint dynamics of total factor productivity (TFP …
Persistent link: https://www.econbiz.de/10013151141
Cover Image
Does Openness to International Financial Flows Raise Productivity Growth?
Kose, M. Ayhan - 2010
productivity growth. However, while there is a vast empirical literature analyzing the impact of financial openness on output … growth, far less attention has been paid to its effects on productivity growth. We provide a comprehensive analysis of the … relationship between financial openness and total factor productivity (TFP) growth using an extensive dataset that includes various …
Persistent link: https://www.econbiz.de/10012758028
Cover Image
Financial Openness and Productivity
Bekaert, Geert; Harvey, Campbell R.; Lundblad, Christian T. - 2021
factor productivity growth is more important than the effect on capital growth. This explains why the growth effects of … that are more financially developed or have higher quality of institutions experience larger productivity growth responses …
Persistent link: https://www.econbiz.de/10013218534
Cover Image
Misallocation, Economic Growth, and Input-Output Economics
Jones, Charles I. - 2011
at the micro level typically reduces total factor productivity at the macro level. Quantifying these effects is leading …
Persistent link: https://www.econbiz.de/10013130964
Cover Image
Financial Sector Regulation and Reforms in Emerging Markets : An Overview
Prasad, Eswar S. - 2010
This paper provides an overview of the complex conceptual and practical challenges that emerging market economies face as they attempt to reform their frameworks for financial regulation. These economies are striving to balance the quest for financial stability with the imperatives of financial...
Persistent link: https://www.econbiz.de/10013137321
Cover Image
Durable Financial Regulation : Monitoring Financial Instruments as a Counterpart to Regulating Financial Institutions
Nakamura, Leonard I. - 2011
This paper sets forth a discussion framework for the information requirements of systemic financial regulation. It specifically describes a potentially large macro-micro database for the U.S. based on an extended version of the Flow of Funds. I argue that such a database would have been of...
Persistent link: https://www.econbiz.de/10013125587
Cover Image
Predatory Short Selling
Brunnermeier, Markus K. - 2013
Financial institutions may be vulnerable to predatory short selling. When the stock of a financial institution is shorted aggressively, leverage constraints imposed by short-term creditors can force the institution to liquidate long-term investments at fire sale prices. For financial...
Persistent link: https://www.econbiz.de/10013074650
Cover Image
Financial Development and the Instability of Open Economies
Aghion, Philippe; Banerjee, Abhijit V.; Bacchetta, Philippe - 2021
This paper introduces a framework for analyzing the role of financial factors as a source of instability in small open economies. Our basic model is a dynamic open economy model with a tradeable good produced with capital and a country-specific factor. We also assume that firms face credit...
Persistent link: https://www.econbiz.de/10013221113
Cover Image
Financial Regulation in General Equilibrium
Goodhart, Charles; Kashyap, Anil K.; Tsomocos, Dimitrios P. - 2021
This paper explores how different types of financial regulation could combat many of the phenomena that were observed in the financial crisis of 2007 to 2009. The primary contribution is the introduction of a model that includes both a banking system and a "shadow banking system" that each help...
Persistent link: https://www.econbiz.de/10013224399