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Distributional effects of crises : the role of financial transfers

Halac, Marina; Schmukler, Sergio - Economics Research, World Bank Group - 2003

Financial crises affect income distribution by way of different channels. The authors argue that financial transfers are an important channel which has been overlooked by the literature. They study the role of financial transfers by analyzing some of the most severe Latin American crises during...

Persistent link: https://www.econbiz.de/10005079564

Crisis and contagion in East Asia : nine lessons

Kawai, Masahiro; Newfarmer, Richard; Schmukler, Sergio - Economics Research, World Bank Group - 2001

The authors investigate the origins of the East Asian crisis and its contagion, examine the channels of contagion, and discuss policy recommendationsThey make detailed recommendations in the context of nine general lessons learned from the East Asian crisis. 1) Preventing crises and contagion:...

Persistent link: https://www.econbiz.de/10005079883

Predicting currency fluctuations and crises - do resident firms have an informational advantage?

Kaufmann, Daniel; Mehrez, Gil; Schmukler, Sergio - Economics Research, World Bank Group - 1999

The authors investigate whether resident enterprise managers have an informational advantage about the countries in which they work. They propose a method for extracting information available to resident managers but unknown to investors and forecasters. They rest their hypothesis of...

Persistent link: https://www.econbiz.de/10005080040

The impact of the business environment on young firm financing

Chavis, Larry W.; Klapper, Leora F.; Love, Inessa - Economics Research, World Bank Group - 2010

rely less on bank financing and more on informal financing. However, they also find that younger firms use more bank …

Persistent link: https://www.econbiz.de/10008498062

Managers, investors, and crises : mutual fund strategies in emerging markets

Kaminsky, Graciela; Lyons, Richard; Schmukler, Sergio - Economics Research, World Bank Group - 2000

The authors address the trading strategies of mutual funds in emerging markets. The data set they develop permits analyses of these strategies at the level of individual portfolios. A methodologically novel feature of their analysis: they disentangle the behavior of fund managers from that of...

Persistent link: https://www.econbiz.de/10005128513

Emerging markets instability: do sovereign ratings affect country risk and stock returns?

Kaminsky, Graciela; Schmukler, Sergio - Economics Research, World Bank Group - 2001

Financial market instability has been the focus of attention of both academic and policy circles. Rating agencies have been under particular scrutiny lately as promoters of financial excesses, upgrading countries in good times and downgrading them in bad times. Using a panel of emerging...

Persistent link: https://www.econbiz.de/10005128745

Legal effectiveness and external capital : the role of foreign debt

Allayannis, George; Brown, Gregory W.; Klapper, Leora F. - Economics Research, World Bank Group - 2005

Previous research has documented weak, and sometimes conflicting, effects of legal quality on measures of firm debt. Using WorldScope data for 1,689 firms, as well as more detailed proprietary data for 315 firms across nine East Asian countries, the authors find that access to foreign financing...

Persistent link: https://www.econbiz.de/10005128812

Further evidence on the link between finance and growth : an international analysis of community banking and economic performance

Berger, Allen N; Hasan, Iftekhar; Klapper, Leora F. - Economics Research, World Bank Group - 2003

bank credit flows. Data from developing nations are also consistent with favorable economic effects of foreign-owned banks …

Persistent link: https://www.econbiz.de/10005129006

Mutual fund investment in emerging markets - an overview

Kaminsky, Graciela; Lyons, Richard; Schmukler, Sergio - Economics Research, World Bank Group - 2001

International mutual funds are one of the main channels for capital flows to emerging economies. Although mutual funds have become important contributors to financial market integration, little is known about their investment allocation, and strategies. The authors provide an overview of mutual...

Persistent link: https://www.econbiz.de/10005133623

The ability of banks to lend to informationally opaque small businesses

Berger, Allen N.; Klapper, Leora F.; Udell, Gregory F. - Economics Research, World Bank Group - 2001

bank size, foreign ownership, and distress on lending to informationally opaque small firms, using a rich new data set on … Argentinean banks, firms, and loans. They also test hypotheses about borrowing from a single bank versus borrowing from several … opaque small firms, especially if small businesses are delinquent in repaying their loans. Bank distress resulting from lax …

Persistent link: https://www.econbiz.de/10005133760