The study investigates what causes non-performing loans (NPLs) in developed and developing countries. To identify the relationship between bank-specific, macroeconomic determinants, and institutional environment non-performing loans on country-level panel data of Developing nations for the...

The study examined the impact of financial development indicators of the banking, insurance and pension sectors on economic growth in Nigeria. The financial development indicators of the sectors utilised were ratios of net domestic credit, gross premium and total pension assets. Quarterly data...

This study investigates the linkage between portfolio investment and economic growth in 18 developed and 27 developing countries. Furthermore, it compares and analyzes interest-bearing and non-interest-bearing assets and the economic development level. The results of our analysis show that...

We document that the deregulation of bank branching restrictions in the United States triggered a reallocation across sectors, with end effects on state-level volatility. The change cannot be explained simply by shifts in sector-level returns and volatility. A reallocation effect is at play,...

This paper presents a model in which a high growth economy becomes susceptible to a sudden financial crisis. In the model firms are motivated to over-invest because of government subsidies and then bear the burden of the inefficiencies caused by the government distortion. We assume that the...

This paper investigates the relationship between financial development and economic growth for developed and developing countries comparatively. The impacts of both stock markets and banks on economic growth are examined by using a panel data set of 21 developing and 16 developed economies for...

This paper proposes a model that links households and firms, as usual, by markets for factors and goods and, additionally, by a banking sector that channels households' funds to firms and eliminates idiosyncratic risk. In equilibrium, agency costs and tax benefits of corporate debt are...

Capital markets perform two distinct functions: provision of capital and facilitation of good governance through information production and monitoring. I argue that the governance function has more impact on the efficiency with which resources are utilized within the firm. Based on industry...

Theories predict a positive effect of enterprise credit market development on economic growth and an ambiguous relationship between household credit market and growth. The purpose of this paper is to assess empirically the effects of enterprise credit market and household credit market on...

This article analyses the role of the banking system in financing the impressive process of growth undergone by the Basque economy since 1980, with particular emphasis on the latest cycle that ended with the great recession. The analysis shows that in spite of the relative solvency of its...