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Growth of Global Corporate Debt : Main Facts and Policy Challenges
Abraham, Facundo - 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/10012823367
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Financial Globalization : A Glass Half Empty?
Abraham, Facundo - 2017
Since the 1970s, the world has embarked on a new financial globalization era. Cross-country capital flows have … significantly increased in developed and developing countries. However, the characteristics of financial globalization differ from … financial globalization (such as additional funding, broad diversification, and deeper financial systems), the positive effects …
Persistent link: https://www.econbiz.de/10012947853
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Determinants of International Buyout Investments
Aldatmaz, Serdar - 2020
Using a comprehensive and proprietary data set on international private equity activity, this paper studies the determinants of buyout investments across 61 countries and 19 industries over 1990-2017. The study finds evidence that macroeconomic conditions, development of stock and credit...
Persistent link: https://www.econbiz.de/10012838894
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Global Corporate Debt During Crises : Implications of Switching Borrowing Across Markets
Cortina Lorente, Juan Jose - 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/10012842157
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Toward Successful Development Policies : Insights from Research in Development Economics
Artuc, Erhan - 2020
What major insights have emerged from development economics in the past decade, and how do they matter for the World … Bank? This challenging question was recently posed by World Bank Group President David Malpass to the staff of the …
Persistent link: https://www.econbiz.de/10012842639
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Financial Inclusion and Inclusive Growth : A Review of Recent Empirical Evidence
Demirgüç-Kunt, Asli - 2017
and poor adults. This paper provides an overview of financial inclusion around the world and reviews the recent empirical …
Persistent link: https://www.econbiz.de/10012957773
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The Microfinance Business Model : Enduring Subsidy and Modest Profit
Cull, Robert - 2017
Recent evidence suggests only modest social and economic impacts of microfinance. Favorable cost-benefit ratios then depend on low costs. This paper uses proprietary data on 1,335 microfinance institutions between 2005 and 2009, jointly serving 80.1 million borrowers, to calculate the costs of...
Persistent link: https://www.econbiz.de/10012968214
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How Does Long-Term Finance Affect Economic Volatility?
Demirgüç-Kunt, Asli - 2017
This paper examines how the ability to access long-term debt affects firm-level growth volatility. The analysis finds that firms in industries with stronger preference to use long-term finance relative to short-term finance experience lower growth volatility in countries with better-developed...
Persistent link: https://www.econbiz.de/10012970254
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The Impact of the Global Financial Crisis on Firms'Capital Structure
Demirgüç-Kunt, Asli - 2017
Using a data set covering about 277,000 firms across 79 countries over the period 2004-11, this paper examines the evolution of firms' capital structure during the global financial crisis and its aftermath in 2010-11. The study finds that firm leverage and debt maturity declined in advanced...
Persistent link: https://www.econbiz.de/10012970413
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The Global Findex Database 2014 : Measuring Financial Inclusion Around the World
Demirgüç-Kunt, Asli - 2017
The Global Financial Inclusion (Global Findex) database, launched by the World Bank in 2011, provides comparable … indicators showing how people around the world save, borrow, make payments, and manage risk. The 2014 edition of the database …
Persistent link: https://www.econbiz.de/10012971878