at the impact of certain financing components separately or using ratios, which may bias the estimation and lead to … for financing composition in terms of the sources (bank credit, debt securities, stock market) and the recipients of …) The non-linear impact of total bank credit is more pronounced than that of either household credit alone, or the sum of …

). Finally, we use bank fundamentals to estimate the cost of equity for unlisted banks. In general, unlisted banks are found to …The cost of equity for banks equates to the compensation that market participants demand for investing in and holding … banks’ equity, and has important implications for the transmission of monetary policy and for financial stability …

substantially over coming decades. In parallel, the next 50 years will see major changes in the composition of the world economy. In …

emerging markets starting in 1980. Our estimations make use of panel GMM techniques robust to sample size, instrument …

integration into the world economy within less than two decades. Nevertheless, gaps in terms of income per capita relative to the …

productivity (MFP) convergence in a panel of 42 countries. The OECD long-term growth model is augmented to show that, in addition …