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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

Global capital flows and financing constraints

Harrison, Ann E.; Love, Inessa; McMillan, Margaret S. - Economics Research, World Bank Group - 2002

Firms often cite financing constraints as one of their primary obstacles to investment. Global capital flows, by bringing in scarce capital, may ease the financing constraints of host country firms. But if incoming foreign investors borrow heavily from domestic banks, foreign direct investment...

Persistent link: https://www.econbiz.de/10005079588

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

Trade credit, financial intermediary development, and industry growth

Fisman, Raymond; Love, Inessa - Economics Research, World Bank Group - 2001

Recent empirical work has shown that financial development is important for economic growth, since well-developed financial markets are more effective at allocating capital to firms with high-value projects. This raises the question of whether firms with high return projects in countries with...

Persistent link: https://www.econbiz.de/10005079906

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

Financial development and financing constraints - international evidence from the structural investment model

Love, Inessa - Economics Research, World Bank Group - 2001

The relationship between the financial, and real sides of the economy has long been a topic of intense interest, and debate. The author provides microeconomic evidence that financial development aids growth, by reducing financing constraints that would otherwise restrict efficient firm...

Persistent link: https://www.econbiz.de/10005129264

Credit reporting and financing constraints

Love, Inessa; Mylenko, Nataliya - Economics Research, World Bank Group - 2003

The authors combine firm-level data from the World Bank Business Environment Survey (WBES) with data on private and … financing constraints, as perceived by managers, and with higher share of bank financing. They find that the existence of … private credit registries is associated with lower financing constraints and higher share of bank financing, while the …

Persistent link: https://www.econbiz.de/10005129378