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We show that in the EU there were diverse causes for the sovereign debt crisis. Yet, fiscal austerity was hastily imposed assuming that the multiplier would be weak and fiscal consolidation could quickly be achieved. Yet, it turned out that fiscal consolidation is state dependent: It is...
Persistent link: https://www.econbiz.de/10010201641
The COVID crisis has severely hit both the United States and the European Union. Even though they are the wealthiest regions in the world, they differ substantially in economic performance, demographic characteristics, type of government, health systems, and measures undertaken to counteract...
Persistent link: https://www.econbiz.de/10012290644
The effects that the economic crisis triggered by COVID-19 is having on unemployment could hardly differ more than in the United States and Europe. This divergence also applies to the political reactions to it. Whereas the 27 member states of the European Union (EU-27) managed to keep...
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In a number of European countries microfinance evolved from informal beginnings during the eighteenth and nineteenth …, microfinance meant financial intermediation between microsavings and microcredit, and was powered by intermediation. Legal … century when microfinance became part of the formal banking sector. In Germany, the former microfinance institutions now …
Persistent link: https://www.econbiz.de/10003210129
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In November 2009, EIF issued a working paper on the European microfinance market. In this study, we found that there … are wide spectra of final beneficiaries and intermediaries and concluded that there is no common microfinance business … model in Europe. While our findings suggested that the microfinance market is immature and fragmented, they also pointed to …
Persistent link: https://www.econbiz.de/10011862391
with a special focus on micro enterprises and Microfinance Institutions (MFIs). Finally, the study reviews selected … the extremely fragmented European economy and in the absence of a commonly accepted microfinance business model, the … findings confirm the positive impact of microfinance on both poverty and social exclusion which currently constitute major …
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