Prezentul studiu reprezinta o sinteza teoretica privind originea si mecanismele de formare a crizelor financiare. Am realizat mai întâi o tipologie a acestor crize în functie de simptomele specifice si am propus indicatori statistici ai vulnerabilitatilor reprezentative pentru fiecare tip de...

This paper shows that, in spite of a reasonably sized fiscal stimulus package, Costa Rica’s economy continues on a downward path, partly because fiscal policy is being offset by a tightening of monetary policy. The paper notes that the International Monetary Fund has insisted that Costa...

The current account has always been a neglected variable in the management of the Euro area and in the assessment of its members' performance; so has, as a consequence, the savings-investment balance. This paper first reviews the arguments that explain this attitude and justify, under some...

In seinem Kommentar zeigt Martin Schütte, ehem. HypoVereinsbank/Bayer. Hypotheken- und Wechsel-Bank und Universität München, dass, fünf Jahre nach Beginn der Finanzkrise, diese zwar eine Krise der Staatsverschuldung geworden ist, aber die Gründe auch für diese Krise, die Risiken und die...

Since the 1980s, financial crises have tended to reoccur with increasing frequency and growing intensity. They are endogenously generated by the established OTD (Originate-To-Distribute) model within the new finance-growth paradigm. Good finance fosters the correct allocation of financial...

Digital financial services and more importantly, mobile money, have become an important financial innovation to advance financial inclusion in developing and emerging economies. While digital financial services have improved the lives of many Kenyans, to the growing betting segment of the Kenyan...

We investigate how the presence of physical bank branches moderates financial technology diffusion. Our identification strategy uses services suspensions caused by criminal groups that perform hit-and-run raids exploding branch facilities and rendering them inoperable for months. We show that...

To explore the determinants of peer-to-peer (P2P) lending expansion, this study examines factors that impact P2P lending using a sample of 62 economies over the period 2015-2017. We investigate the effects of financial development and financial literacy on the expansion of P2P lending. The level...