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Financial markets and economic growth in Poland : simulations with an econometric model
Wdowiński, Piotr - 2005
economic growth in Poland over the period Q2, 1993 – Q2, 2003. …
Persistent link: https://www.econbiz.de/10010277058
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The Contribution of Rapid Financial Development to Asymmetric Growth of Manufacturing Industries: Common Claims vs. Evidence for Poland
von Furstenberg, George M. - 2004
CEE countries such as Poland started to experience a very high rate of financial development within a few years after … industry growth in Poland. This negative finding held for 1990-2001 as a whole and for two distinct sub-periods that differed …
Persistent link: https://www.econbiz.de/10010295661
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Venture capital versus bank financing in innovative German firms
Schäfer, Dorothea; Talavera, Oleksandr; Zimmermann, Volker - 2007
The paper investigates young firms' choice of capital source. Our theoretical model hypothesizes a positive (negative) relation between riskiness of the project (price of venture capital) and receiving informed equity. We test our predictions by employing a unique data set collected by KfW...
Persistent link: https://www.econbiz.de/10010264956
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New financing trends in Latin America: An overview of selected issues and policy challenges
Tovar, Camilo E.; Quispe-Agnoli, Myriam - In: Economic Review 93 (2008)
During the past fifteen years, financial markets in Latin America have experienced a major transformation. This process and its effects on the nature of risks and policy challenges in Latin America were the focus of a May 2007 conference in Mexico City sponsored by the Representative Office for...
Persistent link: https://www.econbiz.de/10010281871
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On the Stability of Different Financial Systems
Fecht, Falko - 2003
Im vorliegenden Papier wird eine Ökonomie modelliert, in der Diamond/ Dybvig- Banken neben einem Finanzmarkt … Anlagemöglichkeiten am Finanzmarkt haben. Ist der Anteil dieser Haushalte vergleichsweise gering, so entsteht ein Finanzsystem, das sich … nicht am sekundären Finanzmarkt partizipieren, handeln private Haushalte sowohl am Primär- als auch am Sekundärmarkt …
Persistent link: https://www.econbiz.de/10010295758
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Financial literacy: An essential tool for informed consumer choice?
Lusardi, Annamaria - 2008
Increasingly, individuals are in charge of their own financial security and are confronted with ever more complex financial instruments. However, there is evidence that many individuals are not well-equipped to make sound saving decisions. This paper demonstrates widespread financial illiteracy...
Persistent link: https://www.econbiz.de/10010298402
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Liquidity and Ambiguity: Banks or Asset Markets?
Eichberger, Jürgen; Spanjers, Willy - 2007
We study the impact of ambiguity on two alternative institutions of financial intermediation in an economy where consumers face uncertain liquidity needs. The ambiguity the consumers experience is modeled by the degree of confidence in their additive beliefs. We analyze the optimal liquidity...
Persistent link: https://www.econbiz.de/10011422151
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Konsumentensouveränität auf Vorsorgemärkten eingeschränkt: mangelnde "Financial Literacy" in Deutschland
Leinert, Johannes; Wagner, Gert G. - In: DIW Wochenbericht 71 (2004) 30, pp. 427-432
Mit der Einführung der privaten Riester-Rente und der privaten Versicherung des Zahnersatzes ist Deutschland - wie Bundespräsident Horst Köhler es formulierte - auf dem Weg, "eine neue Balance von Eigenverantwortung und kollektiver Absicherung" zu finden. Es ist zu vermuten, dass...
Persistent link: https://www.econbiz.de/10011601527
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Investment, income, and incompleteness
Bick, Björn; Kraft, Holger; Munk, Claus - 2009
The utility-maximizing consumption and investment strategy of an individual investor receiving an unspanned labor income stream seems impossible to find in closed form and very difficult to find using numerical solution techniques. We suggest an easy procedure for finding a specific, simple, and...
Persistent link: https://www.econbiz.de/10010271456
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On the Stability of Different Financial Systems
Fecht, Falko - 2003
An economy in which deposit-taking banks of a Diamond/ Dybvig style and an asset market coexist is modelled. Firstly, within this framework we characterize distinct financial systems depending on the fraction of households with direct investment opportunities that are less efficient than those...
Persistent link: https://www.econbiz.de/10010316242