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SME investment opportunities depend on the level of financing constraints that firms face. Earlier research has mainly focused on the controversial argument that cash flow-investment correlations increase with the level of these constraints. We focus on bank loans rather than cash flow. Our...
Persistent link: https://www.econbiz.de/10010292178
This paper presents results from a field experiment designed to test whether savings constraints prevent the self-employed from increasing the size of their businesses. We opened interest-free savings accounts in a local village bank in rural Kenya for a randomly selected sample of poor daily...
Persistent link: https://www.econbiz.de/10010287782
This paper presents results from a field experiment designed to test whether savings constraints prevent the self-employed from increasing the size of their businesses. We opened interest-free savings accounts in a local village bank in rural Kenya for a randomly selected sample of poor daily...
Persistent link: https://www.econbiz.de/10010288156
impact of a crisis on investor confidence is complicated by the fact that it is difficult to disentangle the effect of … investor confidence from coincident direct effects of the crisis. In order to isolate the effects of financial crises on … crises have important effects on investor behavior. Immigrants who have experienced a banking crisis in their countries of …
Persistent link: https://www.econbiz.de/10010292170
During the recent financial crisis, the Federal Reserve implemented a series of extraordinary and unconventional … policies to alleviate the impact of the crisis on financial markets and the economy. In this paper, we examine the effects of …
Persistent link: https://www.econbiz.de/10010292196
In August 1763, northern Europe experienced a financial crisis with numerous parallels to the 2008 Lehman Brothers … episode. The 1763 crisis was sparked by the failure of a major provider of acceptance loans, a form of securitized credit … resembling modern asset-backed commercial paper. The central bank at the hub of the crisis, the Bank of Amsterdam, responded by …
Persistent link: https://www.econbiz.de/10010292271
the world in 2007 and 2008. The drivers of the financial turmoil and the financial crisis of 2008 were heterogeneous … and the effects on commercial paper were an important aspect of the crisis itself and are discussed in some detail. …
Persistent link: https://www.econbiz.de/10010292330
We describe and evaluate the measures taken by the U.S. government to rescue Fannie Mae and Freddie Mac in September 2008. We begin by outlining the business model of these two firms and their role in the U.S. housing finance system. Our focus then turns to the sources of financial distress that...
Persistent link: https://www.econbiz.de/10011310200
in financial integration since the recent crisis increases countries' vulnerability to local shocks. …
Persistent link: https://www.econbiz.de/10011993816
. But the run-like phenomena witnessed during the financial crisis of 2007-08 occurred in the wholesale shadow banking …
Persistent link: https://www.econbiz.de/10012030272