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Financial Development, Economic Growth and Corporate Governance

Winkler, Adalbert - 1998

development. The second part of the paper seeks to identify the determinants of financial development based on Diamond's theory of …

Persistent link: https://www.econbiz.de/10010330134

Finance and growth: a macroeconomic assessment of the evidence from a European angle

Papaioannou, Elias - 2007

This paper reviews the literature on the finance-growth nexus within a neoclassical growth framework, placing an emphasis on the policy implications in the current European environment, that has placed financial reforms high on the policy Agenda. While more research is needed to establish...

Persistent link: https://www.econbiz.de/10011604833

Financial markets and economic growth in Poland : simulations with an econometric model

Wdowiński, Piotr - 2005

In this paper we present simulations of economic performance of the Polish economy based on a quarterly econometric model. The model consists of 22 stochastic equations, which link the financial market with the real economy. The purpose of the research is to present effects of changes to...

Persistent link: https://www.econbiz.de/10010277058

Financing the alternative: renewable energy in developing and transition countries

Brunnschweiler, Christa N. - 2006

This paper examines the determinants of credit allocation to renewable energy firms in developing and transition countries. Using a simple en- dogenous growth model, we show that the development of the renewable energy sector, i.e. the diversification of renewable energy resources used in...

Persistent link: https://www.econbiz.de/10011753114

Tax Evasion and Growth: a Banking Approach

Gillman, Max; Kejak, Michal - 2008

The paper formalizes the relation between flat taxes and growth when there is a competitive equilibrium tax evasion. A decentralized tax evasion service is supplied by the banking sector. The bank production function follows the financial intermediation microfoundation approach, with deposits as...

Persistent link: https://www.econbiz.de/10010494366

Macroeconomic Evolution after a Production Shock: the Role for Financial Intermediation

Vinogradov, Dmitri V. - 2006

Financial intermediaries may increase economic efficiency through intertemporal risk smoothing. However without an adequate regulation, intermediation may fail to do this. This paper studies the effects of a production shock in a closed economy and compares abilities of market-based and...

Persistent link: https://www.econbiz.de/10011422146

Fiscal Deficits, Financial Fragility, and the Effectiveness of Government Policies

Kirchner, Markus; van Wijnbergen, Sweder - 2012

Recent macro developments in the euro area have highlighted the interactions between fiscal policy, sovereign debt, and financial fragility. We take a structural macroeconomic model with frictions in the financial intermediation process, in line with recent research, but introduce asset choice...

Persistent link: https://www.econbiz.de/10010326246

The Theory of Financial Intermediation: An Essay On What It Does (Not) Explain

Scholtens, Bert; van Wensveen, Dick - 2003

This essay reflects upon the relationship between the current theory of financial intermediation and real …-world practice. Our critical analysis of this theory leads to several building blocks of a new theory of financial intermediation …. Current financial intermediation theory builds on the notion that intermediaries serve to reduce transaction costs and …

Persistent link: https://www.econbiz.de/10011689907

Banking with Contingent Contracts, Macroeconomic Risks, and Banking Crises

Gersbach, Hans - 2008

We examine banking competition when deposit or loan contracts contingent on macroeconomic shocks become feasible. We show that the risk allocation is efficient, provided that banks are not bailed out. In this case, banks may shift part of the risk to depositors. The private sector insures the...

Persistent link: https://www.econbiz.de/10011753157

Deposit Insurance in General Equilibrium

Gersbach, Hans; Britz, Volker; Haller, Hans - 2016

We study the consequences and optimal design of bank deposit insurance in a general equilibrium model. The model involves two production sectors. One sector is financed by issuing bonds to risk-averse households. Firms in the other sector are monitored and financed by banks. Households fund...

Persistent link: https://www.econbiz.de/10011753322

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