Energy access remains one of the forgotten millennium development goals, despite being a key ingredient to sustained and equitable socio-economic growth and development. This article looks at the energy poverty nexus in the Middle East and North Africa, a region frequently overlooked in the...

This article outlines the core features of a particular, resource-led development model, the oil-rich guardian state. Its key distinguishing feature from other resource-rich economies consists in its strong economic welfare objective function, which in line with its exceptional oil wealth...

We present an OLG endogenous growth model in which a reduction in the level of concentration in the banking industry exterts two opposite e.ects on economic growth. On the one hand, it induces economies of specialisation which enhances intermediation e.ciency and thereby eco- nomic growth. On...

We analyze the interaction between bank and market finance in a model where bankers gather information through monitoring and screening.We show that,if a market is established characterized by a disclosure law such that entrepreneurs wishing to raise market finance can credibly disclose their...

We present a simple model which establishes a non linear and possibly non monotonic relationship between financial development and economic growth. Applying a threshold regression model to King and Levine™s (1993) data set, we find evidence that is consistent with the main implications...

This paper develops an overlapping generation model with asymmetric information in the credit market such that the interplay between relationship finance supplied by investors who monitor investment decisions ex-ante and market finance supplied by investors who relay on public information can be...

We analyze the interaction between bank and market finance in a model where bankers gather information through monitoring and screening. We show that, if a market is established characterized by a disclosure law such that entrepreneurs wishing to raise market-finance can credibly disclose their...

We study a competitive economy where entrepreneurs seek financing to produce capital goods that serve as inputs for final good production. Due to informational imperfections, choice of investment project and monitoring activity by financial investors are both non-contractible. Such...

Using conditional quantile regression methods, we test for the existence of a non-linearity in the determinants of capital structure. We show that the size of the firm has a positive impact on the debt-equity ratio for low leverage firms and a negative impact for high leverage firms. Asset...