The study investigates what causes non-performing loans (NPLs) in developed and developing countries. To identify the relationship between bank-specific, macroeconomic determinants, and institutional environment non-performing loans on country-level panel data of Developing nations for the...

Taking listed companies of strategic emerging industries as the research subject, this paper uses KZ index to measure the degrees of financing constraints and financial intermediary as well as the stock market to represent the level of financial development. Then empirical models are constructed...

This paper presents an integrated overview of the literature linking institutions, financial development and economic growth. From the large body of research on institutional development, the paper first selects those contributions that make it possible to study the role of institutional...

This paper presents an integrated overview of the literature linking institutions, financial development and economic growth. From the large body of research on institutional development, the paper first selects those contributions that make it possible to study the role of institutional...

A large body of evidence suggests that poor countries tend to invest less (have lower PPP - adjusted investment rates) and to face higher relative prices of investment goods. It has been suggested that this happens either because these countries have lower TFP in the investment - good producing...

Each country is required to have a clearly formulated and detailed national strategy in the transition period for the purpose of management, stimulation, assessment and funding of innovative technology development process. A range of various funding sources includes private venture capital...

This paper examines the role of the financial sector in renewable energy (RE) development. Although RE can bring socio-economic and environmental benefits, its implementation faces a number of obstacles, especially in non-OECD countries. One of these obstacles is financing: underdeveloped...

This study examines the role of Non-Bank Financial Services for Small and Medium-Sized Enterprises finance including venture capital, financial leasing, factoring and capital market. It explains the influence of policies, regulatory frameworks and institutional setups along with Egyptian...

Formal finance involves costly information acquisition about distant entrepreneurs, while relationship-based finance allows financiers to fund a narrow circle of close entrepreneurs without engaging in costly information acquisition. We show that in developing economies with low capital...