Im vergangenen Jahrzehnt gingen beträchtliche Kapitalströme aus den entwickeltenVolkswirtschaften mit einem starken Kreditwachstum in den Ländern des westlichen Balkans,der Türkei und den GUS einher. Dennoch konnten fast alle Länder der Region – ungeachtetihrer unterschiedlichen...

Banks permanently claim to supply customer-orientated services. However,banking services are still focused on purely delivering financial products.Customers who approach the bank will usually receive financial products but norespective solution for their problem. In that way, the customers’...

Results-based financing is a well-established financing modality in the health and education sectors but it is still in an early stage of deployment in the area of climate change. This report reviews 74 results-based climate financing (RBCF) programs implemented in developing countries with an...

Results-based financing is a well-established financing modality in the health and education sectors but it is still in an early stage of deployment in the area of climate change. This report reviews 74 results-based climate financing (RBCF) programs implemented in developing countries with an...

Trading and investment strategies play an essential part in better understanding fixed income markets. Over-the-counter markets and thousands of different outstanding bonds increase the difficulties to identify adequate comparison methods. Market participants and their practices differ widely...

China's rapid economic growth in recent decades has not led to balanced income distribution: inter- and intra-provincial income inequality have been increasing and their respective contribution to the total income inequality remains relatively stable. Based on a new set of prefectural database...

We test how bank market power influences technical change and resource allocation of informationally opaque firms. We use a dataset with approximately 700,000 firm-year observations of German small and medium-sized enterprises (SME) to identify the effect of bank market power using the...

In his Idea of Justice, Amartya Sen compares the two basic approaches to evaluate institutions, transcendental institutionalism and realization-focused comparisons. Referring to Smith's Impartial Spectator, he argues in favour of the latter and proposes the principle of Open Impartiality....