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Does financial literacy improve financial inclusion? Cross country evidence
Grohmann, Antonia; Klühs, Theres; Menkhoff, Lukas - In: World Development 111 (2018), pp. 84-96
While financial inclusion is typically addressed by improving the financial infrastructure, we show that a higher degree of financial literacy also has a clear beneficial effect. We study this effect at the cross-country level, which allows us to consider institutional variation. Regarding...
Persistent link: https://www.econbiz.de/10012287027
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Do Natural Resource Revenues Hinder Financial Development? The Role of Political Institutions
Bhattacharyya, Sambit; Hodler, Roland - In: World Development 57 (2014) C, pp. 101-113
We hypothesize that natural resource revenues may deteriorate contract enforcement if political institutions are weak. As poor contract enforcement leads to low financial development, resource revenues may hinder financial development in countries with poor political institutions, but not in...
Persistent link: https://www.econbiz.de/10010744201
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The Growth Effects of Property Rights: The Role of Finance
Bose, Niloy; Murshid, Antu Panini; Wurm, Martin A. - In: World Development 40 (2012) 9, pp. 1784-1797
Using a variety of statistical approaches, we show that the relationship between property rights and growth is nonlinear; stronger enforcement of property rights raises growth up to a point before growth begins to decline. We provide a simple theoretical rationale for this conclusion using a...
Persistent link: https://www.econbiz.de/10010599380
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Political Institutions and Financial Development: An Empirical Study
Huang, Yongfu - In: World Development 38 (2010) 12, pp. 1667-1677
Summary This paper examines whether political institutional improvement promotes financial development, using a panel dataset of 90 developed and developing countries over 1960-99. The empirical evidence reveals a positive effect of institutional improvement on financial development at least in...
Persistent link: https://www.econbiz.de/10008865520
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Corporate Investments in Asian Markets: Financial Conditions, Financial Development, and Financial Constraints
Gochoco-Bautista, Maria Socorro; Sotocinal, Noli R.; … - In: World Development 57 (2014) C, pp. 63-78
This paper explores the mechanisms through which finance affects corporate investments and capital accumulation. We separate the effects of financial conditions from those of financial development. Based on a sample of firms from five Asian emerging economies, we find that (i) financial...
Persistent link: https://www.econbiz.de/10011052098
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Is Small Beautiful? Financial Structure, Size and Access to Finance
Beck, Thorsten; Demirgüç-Kunt, Asli; Singer, Dorothe - In: World Development 52 (2013) C, pp. 19-33
Combining two unique data sets, this paper explores the relationship between financial structure and firms’ access to financial services. Specifically, it considers the importance of three different types of financial institutions: low-end financial institutions, specialized lenders, and...
Persistent link: https://www.econbiz.de/10011052124
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Is the Relationship Between Financial Development and Economic Growth Monotonic? Evidence from a Sample of Middle-Income Countries
Samargandi, Nahla; Fidrmuc, Jan; Ghosh, Sugata - In: World Development 68 (2015) C, pp. 66-81
We revisit the relationship between financial development and economic growth in a panel of 52 middle-income countries over the 1980–2008 period. Using pooled mean group estimations in a dynamic heterogeneous panel setting, we show that there is an inverted U-shaped relationship between...
Persistent link: https://www.econbiz.de/10011190689
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Magic and witchcraft: Implications for Democratization and poverty-alleviating aid in Africa
Kohnert, Dirk - In: World Development 24 (1996) 8, pp. 1347-1355
The belief in occult forces is still deeply rooted in many African societies, regardless of education, religion, and social class of the people concerned. According to many Africans its incidence is even increasing due to social stress and strain caused (among others) by the process of...
Persistent link: https://www.econbiz.de/10011327883
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Explaining Africa’s (Dis)advantage
Harrison, Ann E.; Lin, Justin Yifu; Xu, Lixin Colin - In: World Development 63 (2014) C, pp. 59-77
Africa’s economic performance has been widely viewed with pessimism. In this paper, firm-level data for around 80 … productivity levels and growth. Africa’s conditional advantage is higher in low-tech than in high-tech manufacturing, and exists in … manufacturing but not in services. The key factors explaining Africa’s disadvantage at the firm level are lack of infrastructure …
Persistent link: https://www.econbiz.de/10010906790
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The Role of Rural–Urban Migration in the Structural Transformation of Sub-Saharan Africa
de Brauw, Alan; Mueller, Valerie; Lee, Hak Lim - In: World Development 63 (2014) C, pp. 33-42
sub-Saharan Africa. In this paper, we attempt to describe the present state of rural–urban migration from several … and migration policy in Africa. …
Persistent link: https://www.econbiz.de/10010906791