Similar Search Results

Finance, inequality, and poverty : cross-country evidence

Beck, Thorsten - 2004

"While substantial research finds that financial development boosts overall economic growth, we study whether financial development disproportionately raises the incomes of the poor and alleviates poverty. Using a broad cross-country sample, we distinguish among competing theoretical predictions...

Persistent link: https://www.econbiz.de/10010522996

Finance, Inequality, and Poverty : Cross-Country Evidence

Beck, Thorsten - 2004

While substantial research finds that financial development boosts overall economic growth, we study whether financial development disproportionately raises the incomes of the poor and alleviates poverty. Using a broad cross-country sample, we distinguish among competing theoretical predictions...

Persistent link: https://www.econbiz.de/10012467709

Precautionary Demand for Foreign Assets in Sudden Stop Economies : An Assessment of the New Merchantilism

Durdu, Ceyhun Bora - 2007

Financial globalization was off to a rocky start in emerging economies hit by Sudden Stops since the mid 1990s. Foreign … saving affects foreign assets via three mechanisms: business cycle volatility, financial globalization, and Sudden Stop risk … Irving Fisher's debt-deflation mechanism. Our results show that financial globalization and Sudden Stop risk are plausible …

Persistent link: https://www.econbiz.de/10012465531

Fiscal Fatigue, Fiscal Space and Debt Sustainability in Advanced Economies

Ghosh, Atish R. - 2011

How high can public debt rise without compromising fiscal solvency? We answer this question using a stochastic ability-to-pay model of sovereign default in which risk-neutral investors lend to a government that displays "fiscal fatigue," because its ability to increase primary balances cannot...

Persistent link: https://www.econbiz.de/10012461875

An Anatomy Of Credit Booms : Evidence From Macro Aggregates And Micro Data

Mendoza, Enrique G. - 2008

This paper proposes a methodology for measuring credit booms and uses it to identify credit booms in emerging and industrial economies over the past four decades. In addition, we use event study methods to identify the key empirical regularities of credit booms in macroeconomic aggregates and...

Persistent link: https://www.econbiz.de/10012464598

An Anatomy of Credit Booms and their Demise

Mendoza, Enrique G. - 2012

What are the stylized facts that characterize the dynamics of credit booms and the associated fluctuations in macro-economic aggregates? This paper answers this question by applying a method proposed in our earlier work for measuring and identifying credit booms to data for 61 emerging and...

Persistent link: https://www.econbiz.de/10012460280

Regional Contagion and the Globalization of Securities Markets

Calvo, Guillermo A. - 1999

This paper argues that the globalization of securities markets may promote contagion among investors by weakening …

Persistent link: https://www.econbiz.de/10012471634

Financial Globalization, Financial Crises and Contagion

Mendoza, Enrique G. - 2009

Two observations suggest that financial globalization played an important role in the recent financial crisis. First …

Persistent link: https://www.econbiz.de/10012463217

SMEs, Growth, and Poverty

Beck, Thorsten - 2005

This paper explores the relationship between the relative size of the Small and Medium Enterprise (SME) sector, economic growth, and poverty alleviation using a new database on the share of SME labor in the total manufacturing labor force. Using a sample of 45 countries, we find a strong,...

Persistent link: https://www.econbiz.de/10012467461

On the Welfare Implications of Financial Globalization without Financial Development

Mendoza, Enrique G. - 2007

globalization is accompanied by the development of domestic institutions and financial markets. However, if liberalization does not … lead to financial development, globalization can result in adverse effects on social welfare and the distribution of wealth … asset market incompleteness, financial globalization hurts the poor in countries with less developed financial markets. This …

Persistent link: https://www.econbiz.de/10012465238