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This paper attempts to investigate the causal linkages between financial development, financial instability and poverty in Pakistan in the presence of structural changes. In addition to conventional finance growth relationship, this study presents empirical evidence whether credit expansion...
Persistent link: https://www.econbiz.de/10013043109
Employing the Pedroni co-integration technique and the GMM estimator, this paper aims at investigating the possible connection between financial development, financial openness and trade openness in twenty-nine Asian developing countries over 1994-2008. Firstly, we find a bidirectional causality...
Persistent link: https://www.econbiz.de/10011347747
Persistent link: https://www.econbiz.de/10012024002
This paper investigates the impact of financialization and changes in corporate governance on income inequality for a … financialization and hence changes in corporate governance are relevant contributors to the rise in income inequality. Our results … sample of 13 OECD countries between 1980 and 2010. Though financialization and changes in corporate governance have been …
Persistent link: https://www.econbiz.de/10010408326
Persistent link: https://www.econbiz.de/10012415582
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This paper provides a unified theory to explain the onset of the financial crisis in 1998 and the striking economic recovery in Russia and the former Soviet Union afterwards. Before the crisis, the banking sector in these economies was stuck in a development trap in which the banking sector is...
Persistent link: https://www.econbiz.de/10010440962
This paper mainly examines the effect of financial development on the recession, while controlling for potential recession factors. Using panel data of 129 countries spanning 1990-2010, we implemented "Locally Weighted Scatterplot Smoothing", "Local Linear" and "Iteratively Reweighted Least...
Persistent link: https://www.econbiz.de/10012221855
The chaebol, a South Korean form of business conglomerate, has been a key factor in the country’s economic growth. In this study, the chaebol sector is added to the asset–liability matrix derived from a flow-of-funds analysis in order to explain the role of the chaebol in the Korean...
Persistent link: https://www.econbiz.de/10011770302
This paper discusses the role of state intervention for prevention, containment, and resolution of financial crises based mainly on the Korean experience during the 1997 Asian financial crisis. Crises in emerging market and developing economies tend to be more complicated than those faced by...
Persistent link: https://www.econbiz.de/10003982933