Financial regimes, capital structure, and growth
نویسندگان
چکیده
منابع مشابه
Financial regimes , capital structure , and growth
We develop a growth model with endogenous technological progress in which the financial sector plays an explicit role. Thereby we discuss the role of different financial regimes in the growth process. We contrast a bank-dominated financial system with a market-dominated system. In the first one a financial intermediary (a bank) is able to solve informational problems, however, at a cost. There ...
متن کاملFinancial integration and emerging markets capital structure
0378-4266/$ see front matter 2010 Published by doi:10.1016/j.jbankfin.2010.10.017 ⇑ Corresponding author at: School of Business an Integration Studies, Trinity College Dublin, College G +353 1 8961522; fax: +353 1 6799503. E-mail addresses: [email protected] (B.M. Lucey), qzha This paper investigates the impact of country-level financial integration on corporate financing choices in emerging econom...
متن کاملGrowth Effects of Exchange Rate Regimes and Capital Account Liberalization
Empirical growth equations are typically explained by (i) the history of the exchange rate regimes, (ii) capital market liberalization regimes, and (iii) actual balance of payments crises. The literature on the effects of policy switches on growth typically ignores the effect of policy on the likelihood of crises, and, in turn, the effect of crises on growth. It ignored a key explanatory variab...
متن کاملGrowth, Savings, Financial Markets and Markov Switching Regimes
We report evidence that the relation between the nancial sector share, private savings and growth in the United States 1948 1996 is characterized by several regime shifts. The nding is based on vector autoregressions on quarterly data that allow for Markov switching regimes. The evidence may be interpreted as support for a hypothesis that the relation between nancial development and growth evol...
متن کاملGrowth, Saving, Financial Markets and Markov Switching Regimes
We report evidence that the relation between the financial sector share, private savings and growth in the United States 1948–1996 is characterized by several regime shifts. The finding is based on vector autoregressions on quarterly data that allow for Markov switching regimes. The evidence may be interpreted as support for a hypothesis that the relation between financial development and growt...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: European Journal of Political Economy
سال: 2000
ISSN: 0176-2680
DOI: 10.1016/s0176-2680(99)00058-0