Sovereign Defaults, Credit to the Private Sector, and Domestic Credit Market Institutions

2014 ◽  
Vol 46 (2-3) ◽  
pp. 321-345 ◽  
Author(s):  
GUIDO SANDLERIS
Keyword(s):  
Private Sector ◽  
Credit Market ◽  
Market Institutions ◽  
Domestic Credit ◽  
Sovereign Defaults

scholarly journals Do Remittances Enhance Financial Development in Transitional Markets?

2019 ◽  
Vol 22 (4) ◽  
pp. 73-89
Author(s):  
Kunofiwa Tsaurai ◽  
Patience Hlupo
Keyword(s):  
Human Capital ◽  
Stock Market ◽  
Private Sector ◽  
Financial Development ◽  
Positive Influence ◽  
Transitional Economies ◽  
Human Capital Development ◽  
Domestic Credit ◽  
Capital Development ◽  
Market Capitalisation

The paper explored (1) the impact of remittances on financial development and (2) whether the interaction between remittances and human capital development had an influence on financial development in transitional economies using the dynamic GMM approach, with data ranging from 1996 to 2014. Remittances were found to have had a non‑significant positive influence on financial development in transitional economies when stock market turnover, stock market value traded, domestic credit to the private sector by banks, and public bond sector development were used as measures of financial development. When stock market capitalisation, domestic credit to the private sector by financial sector, and private bond sector development were used as measures of financial development, remittances had a non‑significance negative effect on financial development. Using all other measures of financial development except stock market capitalisation (which produced a negative sign), the interaction between remittances and human capital development had an insignificant positive influence on financial development. Transitional economies are therefore urged to avoid over‑relying on remittance inflow and human capital development as sources of financial development.

scholarly journals PHILIP II AGAINST THE CORTES AND THE CREDIT FREEZE OF 1575-1577

2016 ◽  
Vol 34 (3) ◽  
pp. 351-382 ◽  
Author(s):  
Carlos Álvarez-Nogal ◽  
Christophe Chamley
Keyword(s):  
Legal Protection ◽  
Credit Market ◽  
Philip Ii ◽  
Domestic Debt ◽  
Archival Documents ◽  
Domestic Credit

ABSTRACTNumerous archival documents show how the suspension of payments by Philip II, in September 1575, on the contracts with Genoese bankers (asientos) induced a freeze of the domestic credit market in Castile through the bankers’ intermediation forasientosand the credit interconnections. Commercial fairs stopped, banks failed and trade suffered while the king granted legal protection to the Genoese bankers. The evidence strikingly confirms that by his strategy, Philip II was able to remove thede factoceiling on the domestic debt (juros) imposed by the fixed revenue commitment of the Castilian cities in the Cortes. The agreement with the bankers was signed in December 1577 immediately after the cities had agreed to the doubling of their commitment.

scholarly journals Cabo Verde

2016 ◽  
Vol 2016 (367) ◽  
Author(s):  
Keyword(s):  
Economic Development ◽  
Private Sector ◽  
Credit Market ◽  
Financial Sector ◽  
Business Environment ◽  
Banking Supervision ◽  
Credit Growth ◽  
Demand And Supply ◽  
Cabo Verde ◽  
Credit Demand

This Selected Issues paper examines whether the recent slowdown in private sector credit growth in Cabo Verde is demand or supply driven. Although in the late 2000s, demand factors have been the main drivers in Cabo Verde’s credit market, supply dynamics’ role has increased in recent years. For Cabo Verde to promote private sector-led growth and sustainable economic development, reforms aiming at strengthening both credit demand and supply will be essential. These include improving the business environment for the private sector as well as strengthening the financial sector by ensuring prudent banking supervision and an effective resolution of the nonperforming loan overhang.

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