نتایج جستجو برای: طبقه بندی jel e44 g21 o16
تعداد نتایج: 98083 فیلتر نتایج به سال:
This paper develops a theory of investment and maturity choices and studies its implications for the macroeconomy. The novel ingredient is an explicit secondary market with trading frictions which leads to a liquidity spread which increases with maturity and generates an upward sloping yield curve. As a result, trading frictions induce firms to borrow and invest at shorter horizons than in a fr...
چکیده امروزه یکی از مشکل های اساسی بانک ها و مؤسسه های مالی و اعتباری، مشکل مطالبه های معوق و تسهیلات وصول نشده آن هاست. مطالبه های غیر جاری باعث کاهش توان مالی بانک در اعطای تسهیلات جدید، کاهش سودآوری بانک، تحمیل هزینه های وصول مطالبه ها از یک طرف و آثار سوء بر بانک ها و بخش های مختلف اقتصادی و در ابعاد وسیع تری برای مردم هر کشور از طریق بحران های پولی و مالی می شود. در این پژوهش ضمن بررسی تأ...
This paper presents an empirical analysis of the controversial relationship between financial system development and economic development. Using cointegration and VAR estimations on annual data from Africa, we examine the nature of the relationship between financial development and income. We find mixed results on both the short and the long-run relationships between the two variables. We find ...
We develop a simple model of credit market imperfections, in which the agents have access to a variety of investment projects, which differ in productivity, in the investment size, and in the severity of the agency problems behind the borrowing constraints. A movement in borrower net worth can shift the composition of the credit between projects with different productivity levels. The model thu...
Article history: Received 26 August 2013 Received in revised form 5 September 2013 Accepted 23 September 2013 Available online 29 September 2013 While many studies have looked into the determinants of yields on externally issued sovereign bonds of emerging economies, analysis of domestically issued bonds has hitherto been limited, despite their growing relevance. This paper finds that the exten...
The role of real estate during the global financial and economic crisis has prompted efforts to better incorporate housing channels into macro models, improve develop macroprudential tools, reform system. This article provides an overview major, recent contributions literature in relation earlier research on what drives prices how they affect activity. Particularly emphasized are studies, both ...
The objective of this paper is to estimate the impacts of medium and long term participation in microfinance programs. It utilises a new, large and unique panel dataset collected from treatment and control households from 1997 to 2005. The data enables us to identify continuing participants in the program as well as newcomers and leavers. We employ different estimation strategies including trip...
We exploit the deregulation of interstate bank branching laws to test whether banking competition affects innovation. We find robust evidence that banking competition reduces statelevel innovation by public corporations headquartered within deregulating states. Innovation increases among private firms that are dependent on external finance and that have limited access to credit from local banks...
Stress in financial markets influences economic agents’ behavior by creating uncertainty and changing the expectations. Critical financial stress can lead to financial crisis. Financial crises are among the events always present in the world economy. Iran is not an exception. This paper aims to study the impact of financial stresses on Iran’s per capita GDP. By using ARDL (Auto Regressive Distr...
Article history: Received 11 December 2008 Received in revised form 25 August 2009 Accepted 21 September 2009 Available online 15 October 2009 Using data from prewar Japan, this paper investigates the impact of a liquidity shock induced by depositors' behavior on bank portfolio management during financial crises in a system lacking deposit insurance. It is found that banks reacted to the liquid...
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