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Eurobonds : A Quantitative Analysis of Joint-Liability Debt
Tsiropoulos, Vasileios - 2019
This paper assesses the consequences of implementing a joint liability debt system in a two-country small open economy model. With joint liability a default of one country makes the other participant liable for its debt. The results highlight a trade-off between the contagion risk, in the sense...
Persistent link: https://www.econbiz.de/10012859524
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Collateral Registries for Movable Assets : Does Their Introduction Spur Firms'Access to Bank Finance?
Love, Inessa - 2017
Using firm-level surveys for up to 73 countries, this paper explores the impact of introducing collateral registries … introduced collateral registries for movable assets against three control groups: firms in all countries that did not introduce a … for movable assets, and firms in countries that undertook other types of collateral reforms but did not set up registries …
Persistent link: https://www.econbiz.de/10012974266
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Collateralized Borrowing : Insights from the World Bank Enterprise Surveys
Nguyen, Ha Minh - 2019
131 countries between 2005-2017. Overall, 77 percent of loans require collateral, and the median loan-to-collateral value … is 60 percent. Small firms and loans from non-bank financial institutions are less often associated with collateral. When … collateral is pledged, the type of collateral assets is strongly correlated with the loan-to-value ratio …
Persistent link: https://www.econbiz.de/10012905683
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Labelled Loans, Credit Constraints and Sanitation Investments
Augsburg, Britta - 2019
Credit constraints are considered to be an important barrier hindering adoption of preventive health investments among low-income households in developing countries. However, it is not obvious whether, and the extent to which, the provision of labelled micro-credit -- where the loan is linked to...
Persistent link: https://www.econbiz.de/10012871011
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Credit Constraints, Agricultural Productivity, and Rural Nonfarm Participation : Evidence from Rwanda
Ali, Daniel Ayalew - 2017
Although the potentially negative impacts of credit constraints on economic development have long been discussed conceptually, empirical evidence for Africa remains limited. This study uses a direct elicitation approach for a national sample of Rwandan rural households to assess empirically the...
Persistent link: https://www.econbiz.de/10012973527
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Estimating the Effects of Credit Constraints on Productivity of Peruvian Agriculture
Woutersen, Tiemen - 2017
This paper proposes an estimator for the endogenous switching regression models with fixed effects. The estimator allows for endogenous selection and for conditional heteroscedasticity in the outcome equation. Applying the estimator to a dataset on the productivity in agriculture substantially...
Persistent link: https://www.econbiz.de/10012973872
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Demand Collapse or Credit Crunch to Firms? Evidence from the World Bank's Financial Crisis Survey in Eastern Europe
Nguyen, Ha - 2017
While there is a consensus that the 2008-2009 crisis was triggered by financial market disruptions in the United States, there is little agreement on whether the transmission of the crisis and the subsequent prolonged recession are due to credit factors or to a collapse of demand for goods and...
Persistent link: https://www.econbiz.de/10012973892
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Assessing Firms'Financing Constraints in Brazil
Claessens, Stijn - 2017
influence of collateral and credit history. Banks perceive that it is less risky to lend to firms that the banks know or that … significant and negative as expected. Third, firms? loan demand and loan supply are affected by the availability of collateral and … information between lenders and borrowers and on collateral to alleviate financing constraints for small firms …
Persistent link: https://www.econbiz.de/10012973945
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Weathering the Storm : Responses by Cambodian Firms to the Global Financial Crisis
Guimbert, Stephane - 2017
Firms have various ways to cope with external risks. This paper analyzes the risk coping behavior that entails the smoothing of inputs (labor, raw materials, or capital). The theoretical framework shows that, if they face adjustment costs, firms prefer to smooth their inputs, especially if they...
Persistent link: https://www.econbiz.de/10012974919
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Firms Operating Under Infrastructure and Credit Constraints in Developing Countries : The Case of Power Generators
Alby, Philippe - 2017
Many developing countries are unable to provide their industrial sector with reliable power and many enterprises have to contend with electricity that is insufficient and of poor quality. Because of these constraints, firms in developing countries opt for self-generation even though it is widely...
Persistent link: https://www.econbiz.de/10012976255