This paper analyzes the under-investigated relationship uniting financial development and income distribution. We use a novel approach taking into account for the first time the specific channels linking banks, capital markets and income inequality, the time-varying nature of the relationship,...

This paper investigates wether the ongoing financial crisis has destabilized the microstructures of ASEAN stock market. Using daily stock market data from 2007 to 2010, we first develop a set of monthly country-level liquidity, efficiency, international integration and volatility indicators. We...

The following sections are included: <ul><li class="bullet">Introduction</li><li class="bullet">Microfinance and Economic Development</li><li class="bullet">Indian Microfinance and the Impact of Commercialization</li><li class="bullet">Minsky's ¡°Financial Instability¡± Hypothesis</li><li class="bullet">Data and Econometric Methodology</li><li class="bullet">Results and Policy Implications</li><li class="bullet">Conclusions</li><li class="bullet">References</li></ul><p> <form name="frmAbs" action="" style="visibility:hidden;"> <input name="href" value="/doi/abs/10.1142/9781783262991_0003" type="hidden"> <input name="title" value="Endogenous Fragility in Microfinance: Evidence from India)" type="hidden"> <input name="doi" value="10.1142/9781783262991_0003" checked="checked" type="checkbox">

One of the most striking consequences of the recent episode of sovereign debt market stress in the Eurozone has been the increase in the share of public debt held by the domestic sector in fragile economies. First, we identify the shocks that explain most of the variation in this share in an...

This paper contributes to the literature on monetary policy responses in emerging economies to international financial crises. Such an issue is especially relevant for these countries insofar as they tend to be more unstable than developed countries. In addition, they suffer from larger...

One of the most striking consequences of the recent episode of sovereign debt market stress in the Eurozone has been the increase in the share of public debt held by the domestic sector in fragile economies. First, we identify the shocks that explain most of the variation in this share in an...

With production activity tending rapidly towards international fragmentation, this study examines the consequences for labour countries of the forms of specialisation brought about by fragmentation processes. It further addresses the risk that fragmented sectors may become excluded from greater...

This article focuses on the reaction of Asean economies to international financial shocks. The crises in emerging markets at the end of the last century underlined the vulnerability of emerging Asean economies to international financial fluctuations and a lack of sustainability in their exchange...