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To clarify the causal links between financial activity and economic growth, three theoretical models are analyzed and a structural equation path models is estimated. In the modeling part, poverty traps result from large fixed costs or high proportions of real investment to run a financial...
Persistent link: https://www.econbiz.de/10010305424
Nach dem Ausbruch der globalen Finanz- und Wirtschaftskrise 2008 haben die G20-Staats- und Regierungschefs in … die G20-Vorschläge und die nun verabschiedeten Gesetze viele der problematischen Anreize und Praktiken im Finanzsektor … Intransparenz und Komplexität des Finanzsektors zurückdrängen würde und Anreize setzte, damit der Finanzsektor künftig sich wieder …
Persistent link: https://www.econbiz.de/10010464417
The key dynamics of the transatlantic banking crisis are analyzed - with emphasis on the fact that the banking disaster of 2007/08 was not really a surprise -, and the five key requirements for restoring stability and efficiency in the EU/OECD banking sector are highlighted. Most important,...
Persistent link: https://www.econbiz.de/10010331377
Die große Bedeutung institutioneller Rahmenbedingungen für das Auftreten und für die Vermeidung sowie für die Wirkungen von Krisen tritt mit jeder neuen Krise in den Fokus wissenschaftlicher Diskussionen. Dieser Sammelband konzentriert sich auf die institutionellen Bezüge von Krisen, so...
Persistent link: https://www.econbiz.de/10014493227
new regional institutions that Asia needs to establish to contribute to this evolving global economic architecture. …
Persistent link: https://www.econbiz.de/10010397333
The downturn in the world economy following the global banking crisis has left the Chinese economy relatively unscathed. This paper develops a model of the Chinese economy using a DSGE framework with a banking sector to shed light on this episode. It differs from other applications in the use of...
Persistent link: https://www.econbiz.de/10010397727
During the ongoing financial crisis the analysis of similar historical crises has gained more and more attention among economic researchers and forecasters. Existing studies, however, do not tackle the immense heterogeneity that is present in cross-country samples in a formal and consistent way....
Persistent link: https://www.econbiz.de/10010265233
country to the economic circumstances facing that country. We briefly sketch out a theory, in the spirit of Tornell (1998 … resources is more abundant and terrorism is reduced. Our empirical results are consistent with the theory. We find that for …
Persistent link: https://www.econbiz.de/10010271984
This article analyses IMF estimates of economic growth in 180 countries (IMF, 2009), and inks the results to the Re-orient approach, put forward by Frank, 1998. With global economic gravitation shifting to the Indian Ocean/Pacific region, the article also analyses the role of MNC (foreign...
Persistent link: https://www.econbiz.de/10010271250
The present contribution tests whether countries can be pooled when studying the finance-growth nexus. Overall, our results point toward a 'pragmatic' positive answer, though considerable heterogeneity is present among developing countries.
Persistent link: https://www.econbiz.de/10010273103