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Fiscal Austerity, Growth Prospects, and Sovereign CDS Spreads : The Eurozone and Beyond
Yuan, Chunming - 2014
swaps (CDS) for a panel of 36 countries including the Eurozone. We find that austerity practice generally leads to an … expectation of improved fiscal situations, which tends to help the CDS market grow more confidence in indebted sovereigns' ability … determining the prices of sovereign debt insurance. Our analyses further show that the behavior of CDS spreads is considerably …
Persistent link: https://www.econbiz.de/10013062276
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Financial variables as predictors of real growth vulnerability
Reichlin, Lucrezia; Ricco, Giovanni; Hasenzagl, Thomas - 2020 - This version: 30th October 2019
We evaluate the role of financial conditions as predictors of macroeconomic risk first in the quantile regression framework of Adrian et al. (2019b), which allows for non-linearities, and then in a novel linear semi-structural model as proposed by Hasenzagl et al. (2018). We distinguish between...
Persistent link: https://www.econbiz.de/10012173525
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Financial variables as predictors of real growth vulnerability
Reichlin, Lucrezia; Ricco, Giovanni; Hasenzagl, Thomas - 2020
Persistent link: https://www.econbiz.de/10012233661
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Financial variables as predictors of real growth vulnerability
Reichlin, Lucrezia; Ricco, Giovanni; Hasenzagl, Thomas - 2020
Persistent link: https://www.econbiz.de/10012200643
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State dependence in the finance-growth nexus : a functional coefficient approach
Herwartz, Helmut; Yabibal Mulualem Walle - 2013
Noting that "one size does not fit all" in the case of the finance-growth (FG) nexus, a growing body of literature has recently focused on uncovering economic conditions under which financial development could be beneficial (detrimental) to economic development. We look into these conditions by...
Persistent link: https://www.econbiz.de/10009752169
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Financial development and economic growth nexus for Pakistan : a revisit using maximum entropy bootstrap approach
Khan, Aqil; Ahmed, Mumtaz; Bibi, Salma - In: Empirical economics : a journal of the Institute for … 57 (2019) 4, pp. 1157-1169
Persistent link: https://www.econbiz.de/10012115279
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Credit information sharing, nonperforming loans and economic growth : a cross-country analysis
Hoang, Khanh; Tran Hung Son; Nguyen Thanh Liem - In: Cogent economics & finance 10 (2022) 1, pp. 1-12
Employing 3-Stage Least Squares (SLS) regression on the aggregate dataset of 120 countries from 2004 to 2017, this study is the first to investigate whether credit information sharing exerts impact on nonperforming loans of banking system and economic growth rate. First, our findings provide...
Persistent link: https://www.econbiz.de/10013461422
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The impact of financial market frictions on trade flows, capital flows and economic development
Bougheas, Spiros; Falvey, Rod - 2011
We introduce financial frictions in a two sector model of international trade with heterogeneous agents. The level of specialization in the economy (economic development) depends on the quality of financial institutions. Underdeveloped financial markets prohibit an economy to specialize in...
Persistent link: https://www.econbiz.de/10010274820
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The impact of financial market frictions on trade flows, capital flows and economic development
Bougheas, Spiros P.; Falvey, Rodney E. - 2011
We introduce financial frictions in a two sector model of international trade with heterogeneous agents. The level of specialization in the economy (economic development) depends on the quality of financial institutions. Underdeveloped financial markets prohibit an economy to specialize in...
Persistent link: https://www.econbiz.de/10009009694
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Institutions, the cost of capital, and long-run economic growth : evidence from the 19th century capital market
Alquist, Ron; Cha, Ben - 2012
Late 19th century investors demanded compensation to invest in countries with poor institutional protection of property rights. Using the monthly stock returns of 1,808 firms located in 43 countries but traded in London between 1866 and 1907, we estimate the country-specific cost of capital. We...
Persistent link: https://www.econbiz.de/10009674872