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Regulations, Market Structure, Institutions, and the Cost of Financial Intermediation

Demirguc-Kunt, Asli - 2003

This paper examines the impact of bank regulations, market structure, and national institutions on bank net interest margins and overhead costs using data on over 1,400 banks across 72 countries while controlling for bank-specific characteristics. The data indicate that tighter regulations on...

Persistent link: https://www.econbiz.de/10012468807

Tropics, Germs, and Crops : How Endowments Influence Economic Development

Easterly, William - 2002

Does economic development depend on geographic endowments like temperate instead of tropical location, the ecological conditions shaping diseases, or an environment good for grains or certain cash crops? Or do these endowments of tropics, germs, and crops affect economic development only through...

Persistent link: https://www.econbiz.de/10012469605

The "Other" Imbalance and the Financial Crisis

Caballero, Ricardo J. - 2010

the U.S. would experience a sudden stop of capital flows, which would unavoidably drag the world economy into a deep … instead that the root imbalance was of a different kind: The entire world had an insatiable demand for safe debt instruments … of exposing the economy to a systemic panic. This structural problem can be alleviated if governments around the world …

Persistent link: https://www.econbiz.de/10012463014

Corporate Immunity to the COVID-19 Pandemic

Ding, Wenzhi - 2020

Using data on over 6,000 firms across 56 economies during the first quarter of 2020, we evaluate the connection between corporate characteristics and stock price reactions to COVID-19 cases. We find that the pandemic-induced drop in stock prices was milder among firms with (a) stronger pre-2020...

Persistent link: https://www.econbiz.de/10012482012

Corporate Resilience to Banking Crises : The Roles of Trust and Trade Credit

Levine, Ross - 2016

Are firms more resilient to systemic banking crises in economies with higher levels of social trust? Using firm-level data in 34 countries from 1990 through 2011, we find that liquidity-dependent firms in high-trust countries obtain more trade credit and suffer smaller drops in profits and...

Persistent link: https://www.econbiz.de/10012456522

Spare Tire? Stock Markets, Banking Crises, and Economic Recoveries

Levine, Ross - 2015

Do stock markets act as a "spare tire" during banking crises, providing an alternative corporate financing channel and mitigating the economic severity of banking crises? Using firm-level data in 36 countries from 1990 through 2011, we find that the adverse consequences of banking crises on firm...

Persistent link: https://www.econbiz.de/10012457803

Internationalization and the evolution of corporate valuation

Levine, Ross - 2005

"By documenting the evolution of Tobin's "q" before, during, and after firms internationalize, this paper provides evidence on the bonding, segmentation, and market timing theories of internationalization. Using new data on 9,096 firms across 74 countries over the period 1989-2000, we find that...

Persistent link: https://www.econbiz.de/10010522397

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

Law and firms' access to finance

Beck, Thorsten - 2004

"This paper contributes to the literature on how a country's legal origin influences the operation of its financial system by using firm-level survey data on the obstacles that firms face in raising external finance. The paper assesses two channels through which legal origin may influence the...

Persistent link: https://www.econbiz.de/10010523108

Competition Laws, Governance, and Firm Value

Levine, Ross; Chen, Lin; Xie, Wensi - National Bureau of Economic Research - 2021

Do antitrust laws influence corporate valuations? We evaluate the relationship between firm value and laws limiting firms from engaging in anticompetitive agreements, abusing dominant positions, and conducting M&As that restrict competition. Using firm-level data from 99 countries over the...

Persistent link: https://www.econbiz.de/10012585392