Financial intermediation and growth: Causality and causes potx
Financial intermediation and growth: Causality and causes potx
... rlevine@scom.umn.edu (R. Levine).Journal of Monetary Economics 46 (2000) 31}77 Financial intermediation and growth: Causality and causes ଝRoss Levine*, Norman Loayza, Thorsten BeckCarlson ... political stability (the number of revolutions and coups and the number of assassinations per thousand inhabitants (Banks, 1994)) and ethnic diversity (Easterly and Levine, 1997). Thus, for each of the ... 2.98 and a t-statistic of 2.10 and theregression passes all the diagnostic tests discussed above. Furthermore, removing Switzerland,Japan, and Portugal in addition to Niger, South Africa, and...
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Credit Growth in Central and Eastern Europe: Emerging from Financial Repression to New (Over)Shooting Stars? potx
... 22d and 22g; credit to the government: lin es 22a,22b and 22c; interest rates: lines 60b,c,l,p and 61; CPI and PPI: lines 64 and 63; nominalGDP: lines 99b and 99b.c; real GDP: lines 99bvp and ... in Estonia, Latvia13 and Croatia and also perhaps in Hungary and Slovenia. On the other hand, ini-tial undershooting might not be a serious problem for Lithuania, Poland and Romania because the ... (HU), Poland (PL), Slovakia (SK) and Slovenia (SI); (ii) Baltic3 (B-3): Estonia (EE), Latvia (LV) and Lithuania (LT) and (iii) South EasternEurope 3 (SEE-3): Bulgaria (BG), Croatia (HR) and Romania...
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Financial liberalisation and the relationship between finance and growth
... trade (exports and imports) and invisibles (payments and receipts for financial and other services). We transformed each measure into a 0 to 100 scale taking 100*(CAPITAL/4) and 100*(CURRENT/8). ... Iceland, India, Israel, Japan, Austria, Belgium, Denmark, Finland, Germany, Ireland, Italy, Jamaica, the Netherlands, Norway, Sweden, Switzerland, Trinidad, the United Kingdom, Australia, and ... 14(February):35-52. Chandra, Areendam. 2001. “The Influence of Capital Controls on Long Run Growth: Where and How Much.” Brown University Typescript Manuscript. Diaz-Alejandro, Carlos. 1985. “Good-bye Financial...
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Tài liệu The Centrality of Money, Credit, and Financial Intermediation in Marx’s Crisis Theory: An Interpretation of Marx’s Methodology pptx
... cannot pay agent C, and so on. A wave of bankruptcies may result. Various markets for commodities and financial assets will come under pressure, and may collapse, because real and financial assets ... capitalist crisis. And it is with the SCP-through-MMP abstract form of crisis that Marx introduces contracts, and commercial credit and paves the way for the introduction of financial intermediation ... incorporated into the model. It is only with contracts, credit and financial intermediation, and with time-consuming interdependent production and circulation processes involving long-lived capital...
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Tài liệu BANK AND NON BANK FINANCIAL INTERMEDIATION pdf
... that the left-hand side of inequality(23) is reduced by εPr(HH).Bank and Nonbank Financial Intermediation 2513detail by Fluck and Lynch. The main difference between this paper and theirsis ... increased by intermediation. THE JOURNAL OF FINANCE•VOL. LIX, NO. 6•DECEMBER 2004Bank and Nonbank Financial Intermediation PHILIP BOND∗ABSTRACTConglomerates, trade credit arrangements, and banks ... specializes in the activities of buying and selling (at the same time) financial contracts and securities.”2See, for example, Lamont (1997) and Shin and Stulz (1998).3The experience of small...
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Financial Institutions Center - Callable Bonds and Hedging potx
... interest rate levels and the call usage. Two earlier studies, Kish and Livingston (1992) and Sarkar (2001), examine the role of interest rates but report mixed results.Kish and Livingston analyze ... by Mayers and Smith (1990), who report thatinsurance Þrms with lower Best’s ratings reinsure (hedge) more. Such a Þnding is consistent with12the Mayers and Smith (1982) and Smith and Stulz ... non-callable issuers. Robbins and Schatzberg (1986) argue that callscan be credible signals resolving informational asymmetry between issuers and investors. Crabbe and Helwe ge test and Þnd no support...
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Financial Intermediation and Credit Policy in Business Cycle Analysis∗ pot
... productive role for government financial intermediations. See, example, Sargent and Wallace (1983), Kiyotaki and Moore (2008), Gertler and Karadi (2009), and Shleifer and Vishny (2010). As originally ... spirit of Allen and Gale (1995, 2007) and others. This is becausewithin our framework (i) only banks of the same island can make loans to nonfinancialfirms and (ii) banks on investing islands cannot ... funds between a bank and non-financial firms in the sameisland. In particular, we suppose that the bank is efficientatevaluating and monitoring non-financial firms o f the same island, and also at enforcingcon...
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WORKING PAPER NO 13 CREDIT RISK TRANSFER AND FINANCIAL SECTOR PERFORMANCE Wolf Wagner & Ian Marsh potx
... CREDIT RISK TRANSFER AND FINANCIAL SECTOR PERFORMANCE Wolf Wagner & Ian Marsh The Working Paper is intended as a means whereby researchers’ thoughts and findings may ... to interested readers for their comments. The paper should be considered preliminary in nature and may require substantial revision. Accordingly, a Working Paper should not be quoted nor the ... of the author. All rights reserved. © 2004 Wolf Wagner & Ian Marsh Comments and suggestions would be welcomed by the authors. e-mail: Wolf Wagner: w.wagner@cerf.cam.ac.uk...
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Forecasting UK GDP growth, inflation and interest rates under structural change: a comparison of models with time-varying parameters potx
... FollowingChib (1995) and Chib and Jeliazkov (2001) we proceed by factorising ln GˆΞ\Ztintoconditional and marginal densities of various parameter blocks and using additional and Gibbs and Metropolis ... Bank of England. Email: alina.barnett@bankofengland.co.uk(2) Centre for Central Banking Studies. Bank of England. Email: haroon.mumtaz@bankofengland.co.uk(3) Monetary Assessment and Strategy ... employ both the Gibbs and Metropolis-Hasting samplers to derive the full posterior distribution of the entireestimated parameter vector (Chen and Lee (1995), Chen (1998) and Lopes and Salazar(2006)).3.6...
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Báo cáo khoa học: Linking pseudouridine synthases to growth, development and cell competition potx
... Cfb5p, rat NAP57, and mouse and human dyskerin [1]. These proteins localize in thenucleolus and are involved in a variety of essential cellu-lar functions, including processing and modification ... 3253ABCDEFHGFig. 3. Organ and cell size adult phenotypes produced by mfl silencing. Wings of 46282 ⁄ en–GAL4 and 46282 ⁄ nub–GAL4 male adult flies(A, C) and their + ⁄ en–GAL4 and + ⁄ nub–GAL4 respective ... strainsFlies were raised on standard Drosophila medium at 25 °C.The 46279, 46282, 34597 and 34598 UAS-RNAi mfl-silencinglines were from the VDRC RNAi collection [25]. vgBE–GAL4 and MS1096–GAL4 strains...
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