Countries differ in the extent to which their financial systems are bank-based or market-based. This paper presents evidence on the impact of financial development and structure on bank performance using bank-level data for a large number of developed and developing countries. For countries that have underdeveloped financial systems, we show that a move towards a more developed financial system...

This paper investigates the adaptability of agile methodologies to software development standards laid down by ISO. On the basis of this analysis, guidelines are proposed for developing software in such a way that the development process conforms to the standards required by the software acquirer, while still retaining its agile characteristics. Extreme Programming (XP) is used as the primary r...

Department, Asian Development Bank. The author acknowledges the insightful comments and suggestions from Michael Alba and Niny Khor in the Asian Development Outlook 2010 workshop, which helped improve an earlier draft of this paper. The findings, views, and conclusions expressed in this paper do not necessarily represent the views or policies of the Asian Development Bank or those of the Execut...

We analyze the effects of downstream firms’ acquisition of pure cash flow rights in an efficient upstream supplier when all firms compete in prices. With an acquisition, downstream firms internalize the effects of their actions on their rivals’ sales. Double marginalization is enhanced. Whereas full vertical integration would lead to decreasing, passive backwards ownership leads to increasing d...

In many open-rich financially developed countries, the central bank (CB) plays an important role in the development of a sound and effective financial system in particular, and economic development and stabilization of the economy in general. In these countries, the governance of the CB is based on the three main principles of New Public Management (NPM) known as the three ‘pillars’, which incl...

We thank Eduardo Lora for comments on a previous version. Arturo Galindo is an economist in the Research Department of the Inter-American Development Bank, Margaret Miller at the Corporate Strategy Group and Office of the Chief Economist of the World Bank. The views expressed in this document are of the authors and do not necessarily reflect those of the Inter-American Development Bank or the W...

The article investigates the role of bank capital in financing reproduction processes and increase of economic growth indicators, considers the essence of the concept of “bank capitalization”, determines the structure and main sources of bank capital increase. Taking into account the fact that Ukraine and Poland have similar vectors of economic development, the current practices of increasing t...