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With extensive country and firm-level data sets, this paper first documents that the financial sectors of most Sub-Saharan African countries remain significantly underdeveloped by the standards of other developing countries. The paper also finds that population density appears to be considerably...
Persistent link: https://www.econbiz.de/10012974025
The recent Asian currency crisis was caused by large prospective fiscal deficits associated with implicit bailout guarantees to failing banking systems. Absent the political will to raise taxes or cut spending, governments must resort to seignorage revenues to pay for the bailout of the banking...
Persistent link: https://www.econbiz.de/10014212487
The paper analyzes the impact of the recent global crisis in the context of the previous two decades' growth and capital flows. Growth decomposition exercises show that Egyptian growth is driven mostly by capital accumulation. To estimate the share of labor in national income, the analysis...
Persistent link: https://www.econbiz.de/10012976332
This paper examines the role of the public sector in providing additional information to exporters in developing countries as they seek to monitor and keep open their access to foreign markets by using the rules of the WTO system. It highlights new information generation and dissemination...
Persistent link: https://www.econbiz.de/10012976545
The idea behind patent policies is to increase the output of commercially useful innovations by creating a transitory propertyy right that allows the inventor to appropriate part of the returns from his invention. In developing countries, two types of considerations need to be addressed. First,...
Persistent link: https://www.econbiz.de/10012746952
The global financial crisis has not only dealt a major blow to the global economy, but also shaken confidence in economic management in the developed world and the economic models that guide it. The crisis has revealed major market failures, especially in the housing bubble and its transmission...
Persistent link: https://www.econbiz.de/10012976477
Theory suggests that the effect of banking market concentration on financial stability is mediated by several competing …
Persistent link: https://www.econbiz.de/10012909356
Recent empirical evidence highlights that access to basic financial services can make a substantial positive difference in improving poor people's lives. Accordingly, financial sector reforms that promote financial inclusion are increasingly at the core of policymakers? agendas. The Consultative...
Persistent link: https://www.econbiz.de/10012976198
This paper considers the question of whether international banks learn from their previous crisis experiences and reduce their lending to developing countries in the event of a financial crisis. The analysis combines a bank-level dataset of bank activity and ownership with country-level data on...
Persistent link: https://www.econbiz.de/10012973331
Governments play a very important role in supporting innovation, managing the disruptive effects of innovation, and … ensuring that the benefits of innovation are broadly shared in the long run. This paper reviews the literature on market … mechanisms that translate innovation into jobs and policies that are needed to improve outcomes. Although many countries now …
Persistent link: https://www.econbiz.de/10012921429