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The rise of domestic capital markets for corporate financing
Abraham, Facundo; Cortina, Juan J.; Schmukler, Sergio L. - 2019
During the past decades, firms from emerging economies have significantly increased the amount of financing obtained in capital markets. Whereas the literature argues that international markets have been an important contributor to this process, the role of domestic markets is mostly unknown. By...
Persistent link: https://www.econbiz.de/10012022363
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Global corporate debt during crises : implications of switching borrowing across markets
Cortina, Juan J.; Didier, Tatiana; Schmukler, Sergio L. - 2020
This paper studies how crises prompted firms to switch borrowing across markets, impacting the amount borrowed, maturity, and currency denomination at the firm and aggregate levels. Using data on worldwide debt issuance from advanced and emerging economies, the paper shows that firms shifted...
Persistent link: https://www.econbiz.de/10012228743
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A decade after the 2009 Global Recession : macroeconomic developments
Koh, Wee Chian; Yu, Shu - 2020
Emerging markets and developing economies (EMDEs) weathered the 2009 global recession relatively well. However, the impact of the global recession varied across economies. EMDEs with stronger pre-crisis fundamentals - such as large foreign exchange reserves, sound fiscal positions, and low...
Persistent link: https://www.econbiz.de/10012257019
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Growth of global corporate debt : main facts and policy challenges
Abraham, Facundo; Cortina, Juan J.; Schmukler, Sergio L. - 2020
This paper surveys the literature to document the main stylized facts, risks, and policy challenges related to the expansion of global nonfinancial corporate debt after the 2008-09 global financial crisis. Nonfinancial corporate debt steadily increased after the crisis, especially in emerging...
Persistent link: https://www.econbiz.de/10012296893
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Market size, sunk costs of entry, and transport costs : an empirical evaluation of the impact of demand-side factors versus supply-side factors on manufacturing productivity
Jones, Patricia; Lartey, Emmanuel; Mengistae, Taye; … - 2019
This paper uses plant-level, panel data from the Ethiopian manufacturing census to estimate the effects of demand-side and supply-side factors on industrywide aggregate productivity. The paper focuses on the effects of three factors: (1) local market size, (2) the value of transportation costs...
Persistent link: https://www.econbiz.de/10012051859
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Innovation patterns and their effects on firm-level productivity in South Asia
Cirera, Xavier; Cusolito, Ana P. - 2019
development investments in equipment, and training) highly concentrated in a few firms, and mature, exporter, and foreign …
Persistent link: https://www.econbiz.de/10012051862
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Cities of workers, children, or seniors? : age structure and economic growth in a global cross-section of cities
Jedwab, Remi; Pereira, Daniel; Roberts, Mark - 2019
A large literature documents the positive influence of a city's skill structure on its rate of economic growth. By contrast, the effect of a city's age structure on its economic growth has been a hitherto largely neglected area of research. This paper hypothesizes that cities with more...
Persistent link: https://www.econbiz.de/10012121233
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Do weak institutions prolong crises? : on the identification, characteristics, and duration of declines during economic slumps
Bluhm, Richard; Crombrugghe, Denis de; Szirmai, Adam - 2020
-Saharan Africa, where politics are often ethnic and decision makers are comparatively unconstrained …
Persistent link: https://www.econbiz.de/10012228613
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Environment and development : penalized non-parametric inference of global trends in deforestation, pollution and carbon
Andrée, Bo Pieter Johannes; Spencer, Phoebe; Chamorro, … - 2019
This paper revisits the issue of environment and development raised in the 1992 World Development Report, with new … environmental outcomes across GDP. The analysis finds that average development is associated with an inverted 'U'-shape in … used to extrapolate environmental output to 2030. The daunting implications of continued development are a reminder that …
Persistent link: https://www.econbiz.de/10012008015
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Does media stimulate reform efforts?
Ramalho, Rita; Saltane, Valentina - 2019
This paper investigates to what extent media impacts political decisions. A viable practical approach to test the relationship between mass media and political actions is through the use of the World Bank's Doing Business data, specifically, by assessing local media coverage of Doing Business...
Persistent link: https://www.econbiz.de/10012114015