... endogenous long-run growth? Evidencefrom the US and the UK Journal of Money Credit and Banking 29 (2), 235–262 Levine, R., Renelt, D., 1992 A sensitivity analysis of cross-country growth regressions ... state and local taxes on economic growth: a time series-cross section approach The Review of Economics and Statistics 67 (3), 574–582 Hsieh, E., Lai, K., 1994 Government spending and economic growth: ... Journal of Economic Dynamics and Control 18 (4), 1173–1187 Glomm, G., Ravikumar, B., 1997 Productive government expenditures and long-run growth Journal of Economic Dynamics and Control 21 (1), 183–204...
... be more demand for both physical and liquid capital Hence, growth in the real sector induces the financialsector to expand, and thereby increasing competition and efficiency in the financial ... for financialdevelopmentand thus economic growth, the relationship between financialdevelopmentand economic growth for these countries may depend on how financial repression affects financial ... relationship between financial repression, financialdevelopmentand economic growth Finally, we conclude in the Last section Analytical framework 2.1 Financialdevelopmentandgrowth Economists...
... fixed (by OLS) and random (by GLS) and two-way (country and time effects) fixed and random effects models Model Additional distortions from consumption taxes in practice may arise from the common ... years with final digits 1–5 and 6–0; 2–6 and 7–1; and 3–7 and 8–2 (which reduces the number of observations from 98 to 86) The results (not shown here, but available from the authors on request) ... levels of all fiscal variables, and the level and first difference of labour force growthand initial GDP The growth equation is run in first difference form and the results, displayed in Table...
... Garcia-Herrero and Vazquez, 2007 “International Diversification Gains and Home Bias in Banking,” IMF Working Paper WP/07/281 Gomez-Gonzalez and Kiefer, 2007 “ Bank failure: Evidencefrom the Colombian Financial ... benefit from the imperfect co-movement macroeconomic and monetary conditions across geographic regions (Griffith-Jones, Segoviano, and Spratt, 2002; Garcia-Herrero and Vazquez, 2007) and may ... financial crisis (Cornett et al., 2010), and were less likely to fail (Bologna, 2011) A related strand of literature has focused on the role of capital in the capacity of banks to withstand financial...
... between financialsectordevelopmentand economic growth, with the causation possibly running both ways Economic growth generates demand for financial services and spurs financialsectordevelopment ... composition, coverage and penetration of the financialsectorand links with growth, stability and equity This would help our understanding the optimal composition of financialsectordevelopment appropriate ... fiscal and financial, and between the financialand real sectors Accountable governance arrangements are available only at a national level, and both the regulation of the financialsectorand macroeconomic...
... poverty, income growth, and inequality by providing examples of how both growthand changes in inequality influence poverty A widespread concern for pro-poor growth has resulted in part fromevidence ... capita GDP growth Table 2.2 identifies five periods: (1) from 1810 to 1840, growth was slow and more stable; (2) from 1841 to 1881, oscillations from expansion to contraction were wider; (3) from 1882 ... path of economic growth in Argentina with economic growth in selected countries in Latin America and regions of the world and gain an understanding of the country’s overall growth experience...
... ix LIST OF FIGURES Chapter 1 Malaysiaand Thailand: Lending Rate 37 Chapter Chronology of Events 73 Chapter Malaysiaand Thailand: Lending Rate 164 Malaysiaand Thailand: Money Market Interest ... studies on Malaysiaand Thailand to find evidence of the existence of credit crunch in the early years of the crisis Section reviews the road to recovery in Malaysiaand Thailand and explains ... shows that Malaysia experienced higher real GDP growth than Thailand from 1999-2000 andfrom 2004 to 2005 while Thailand has higher real GDP growthfrom 2001-2003, inline with the improvement in...
... thirdorder Our discussion on sector shares suggests that the interactive effect of growth opportunities andfinancialdevelopment on sectoral growth should be stronger in financially dependent industries ... Raymond and Inesssa Love, 2003, “Trade Credit, Financial Intermediary Developmentand Industry Growth, ” Journal of Finance 58(1), pp.353-374 Fisman, Raymond and Inesssa Love, 2004, FinancialDevelopment ... Theories of FinancialDevelopmentand Resource Allocation While financialdevelopment may affect the level of economic growth through numerous channels, we focus here on the role of financial institutions...
... interactions between finance andgrowth by developing models where the financial system influences growth, andgrowth transforms the operation of the financial system Thus, financialdevelopment might primarily ... between financialsector policies and economic development The remainder of the paper proceeds as follows Sections and review the theory and empirical evidence on the relation between finance andgrowth ... between financial intermediary developmentand growth, while Beck, Levine, and Loayza (2000) extend this work to evaluate the relationship between financialdevelopmentand the sources of growth, ...
... Structure of Financialand Non -financial Sectors—Inter-sectoral Linkages Analysis of stock variables in countries’ sectoral balance sheets (assets and liabilities of financial firms, non -financial ... H I 17 FinancialSector Assessment: A Handbook Table 2.1 Sectoral Indicators of FinancialDevelopment Sub -sector Indicator Banking • • • • • • Total number of banks Number of branches and outlets ... institutions and their asset positions, and (b) the number of andgrowth rates of 10 11 12 A B C D E F G H I 16 Chapter 2: Indicators of Financial Structure, Development, and Soundness available money and...
... Poultry and Feed Sectors The analytical framework incorporates supply and demand relationships for poultry meat and the two major feed ingredients, corn and soybean meal Supply and demand relationships ... poultry and egg sectors But with higher growth, the quota imposes its impacts earlier and more severely Larger and smaller income- and own-price elasticities of demand for poultry meat and eggs ... of growth on the poultry meat and egg sectors is affected 32 ◆ India’s Poultry Sector: Developmentand Prospects / WRS-04-03 meal supply is derived from soybean production using fixed crush and...
... inefficiencies Berger, Cummins, and Weiss (1995) and Humphrey and Pulley (1995) used both the standard profit finction (which takes output prices as given) and a nonstandard profit function (which ... acquiring and acquired banks (weighted average) This accounts for both population growthand per capita income growth, two important elements determining bank deposit expansion and the demand for ... corroborating evidence, Berger, Kashyap, and Scalise (1995) also found that HERF and SHARE did not change very much with liberalizations of intrastate and interstate banking rules in the 1980s and first...
... Age-specific death rates for England and Wales, and London from Wrigley et al (1997, Table 6.14) and Landers (1992, Table 3), respectively To compute the rates of England and Wales (without London), ... rates in England and Wales Szreter and Mooney (1998) further demonstrate the extent to which rapid urbanization and rapid city growth created a penalty in England For example, Szreter and Mooney ... 105 89 122 184 125 121 102 England and Wales, 1750–1960 Source: Wrigley et al (1997, Tables 6.14 and 6.19) and Case et al (1962) ECONOMIC DEVELOPMENTAND THE ESCAPE FROM HIGH MORTALITY child mortality...
... Singapore and Malaysia, ' OECD Development Centre Technical Paper, September Paris: Organization for Economic Co-operation and Development, 1991 CLAASSEN,E.-M., 'Financialliberalizationand its ... Results All data are monthly, and are taken from the International Financial Statistics CD-ROM, published by the IMF Tests are run from 1983:1 to 1992:11 for Malaysia, andfrom 1983:1 to 1994:4 for ... and benefits of financialliberalization in the Asia-Pacific, an understanding of retail rate rigidities after liberalization is clearly of interest I Retail interest rates in Singapore and Malaysia...
... of people that died in England and Wales, not people that were born in England and Wales The data will then exclude people born in England and Wales who died elsewhere and will include people born ... 2007, Australia (59 thousand emigrants), Spain (21 thousand emigrants), France (20 thousand emigrants), the United States (19 thousand emigrants), and Poland (18 thousand emigrants) were the top ... quarter 2, ν is a random normal variable with standard deviation of 1, and η is a random normal variable with standard deviation of Here we allow for the coefficients on the cohort trends and education...
... emphysema and fibrosis may result from two distinct and apparent opposite processes, they may coexist either in different areas, or in a same area of the lung of humans and animals The developmentand ... analysis and interpretation of data and drafting the manuscript BB and BL performed the histological and morphometrical analyses, and contributed to the interpretation of the results EC and SF ... Animals and Animal Studies Balb/c, C57 Bl/6 and DBA/2 mice were supplied by Charles River (Calco, Italy) C57 Bl/6J pa/pa (pallid) mice were from our colony and were originally obtained from Jackson...