A careful review of previous empirical studies in developing countries reveals that these studies have focused on explaining relative use of debt, equity or internal finance using aggregate financial ratios (Mayer, 1988, 1989, and 1990; Glen and Pinto, 1994; IFC, 1991). These studies conceal rather...

This study provides an empirical analysis of the macroeconomic factors that can potentially affect investment decisions in Argentina in a short, medium and long run perspective. Both the theory and the empirical literature are reviewed in order to identify a private investment function for the...

The study considers feasibility of introduction of corporate income tax deferral until distribution of enterprise profits aimed to accelerate economic growth, increase budget revenues and raise welfare of the population of Latvia. The study analyses the effect of introduction of corporate income...

Turkish Abstract: 2012 yılında köklü bir değişikliğe uğrayan ve tek mevzuat altında toplanan Türk Teşvik Sistemi, devletin 2023 yılı hedefleriyle uyumlu olarak düzenlenmiş, bölgelerin gelişmişlik düzeyine göre çeşitli uygulamalar yürürlüğe girmiştir. Mevcut teşvik...

Canadian banks are now ranked at the top of Bloomberg's strongest banks. But the question is: how did they get there? To understand this, it may be helpful to examine how enterprise risk management (ERM) has evolved in Canada. This article illustrates the development of Canadian bank ERM best...

Identity is fundamental in finance. From a business standpoint, knowledge of clients' identities is essential to protect against fraud and crime, and underpins all know-yourcustomer obligations, as well as being essential to providing quality services. From a risk management and regulatory...

We study credit allocation across firms and its real effects during China's economic stimulus plan of 2009-2010. We match confidential loan-level data from the 19 largest Chinese banks with firm-level data on manufacturing firms. We document that the stimulus-driven credit expansion...

In this paper we unpack the scope and possibilities of sovereign development funds in different forms and under different political-cum-institutional conditions as a policy tool supporting economic growth and development, particularly in developing countries. Defining what that purpose should be...

By drawing on information from public accounts from the nineteenth and twentieth century the present paper aims at mapping the development of key financial indicators for the Norwegian central government sector. It concludes that growth in the size of this sector often, but clearly not always,...

Financial development is vulnerable to social conflict. Conflict reduces the demand for domestic currency as a medium of exchange and a store of value. Conflict also leads to poor quality governance, including weak regulation of the financial system, thereby undermining the sustainability of...