scholarly journals Saving Constraints, Debt, and the Credit Market Response to Fiscal Stimulus: Theory and Cross-Country Evidence

2019 ◽  
Author(s):  
Jorge Miranda-Pinto ◽  
Daniel Murphy ◽  
Kieran James Walsh ◽  
Eric R. Young
Keyword(s):  
Credit Market ◽  
Market Response ◽  
Fiscal Stimulus ◽  
Cross Country

Saving Constraints, Debt, and the Credit Market Response to Fiscal Stimulus

2020 ◽  
Author(s):  
Jorge Miranda-Pinto ◽  
Daniel Murphy ◽  
Kieran James Walsh ◽  
Eric R. Young
Keyword(s):  
Credit Market ◽  
Market Response ◽  
Fiscal Stimulus

A NOTE ON CREDIT MARKET DEVELOPMENT AND HUMAN CAPITAL ACCUMULATION

2013 ◽  
Vol 17 (7) ◽  
pp. 1525-1541 ◽  
Author(s):  
Wai-Hong Ho
Keyword(s):  
Human Capital ◽  
Capital Accumulation ◽  
Overlapping Generations ◽  
Credit Market ◽  
Market Development ◽  
Human Capital Accumulation ◽  
Self Selection ◽  
Selection Equilibrium ◽  
Cross Country ◽  
The Cost

This paper explores the interplay between credit market development and human capital accumulation in a two-period overlapping-generations economy with asymmetric information under the assumption that young lenders channel credits to young borrowers and acquire education. We find that, at the self-selection equilibrium, lenders will allocate more time to acquire education if the cost of screening borrowers falls. Furthermore, a longer duration of lenders' schooling time suppresses borrowers' incentive to cheat thereby enabling lenders to screen less frequently. Our preliminary cross-country empirical analysis appears to support these findings.

Dezentrale versus zentrale Bankensysteme?

2013 ◽  
Vol 57 (1-2) ◽  
Author(s):  
Stefan Gärtner ◽  
Franz Flögel
Keyword(s):  
Market Orientation ◽  
Capital Market ◽  
Financial Integration ◽  
Banking System ◽  
Credit Market ◽  
Financial Systems ◽  
Spatial Organisation ◽  
Banking Systems ◽  
Cross Country

Decentralized versus centralized banking systems? Geographic market orientation and the location of decision-making as characteristics for a classification of banking systems. In the light of global financial integration many authors expect a homogenization of financial systems and thus the well-established classification in bank and capital market-based systems is questioned. We conceptualised an alternative classification in decentralized and centralized banking and apply this classification to the German banking system. Banking groups differ clearly in terms of their spatial distribution of employees, which we use as an approximate indicator for geographic market orientation. It was also observed that decentralized banks increased their share in the credit market at the expense of centralized banks and granted the majority of corporate loans. Compared internationally the German banking system is presumably very decentralized, however more research is needed to assess the state and influence of banking systems’ spatial organisation on a cross country base.

The effect of globalization and credit market imperfections on the incidence of child labour

2017 ◽  
Vol 44 (8) ◽  
pp. 998-1017
Author(s):  
Ambreen Fatima
Keyword(s):  
Empirical Studies ◽  
Credit Market ◽  
Child Labour ◽  
Market Imperfections ◽  
Data Set ◽  
Credit Market Imperfections ◽  
Content Type ◽  
Bottom Quartile ◽  
Trade Sanctions ◽  
Cross Country

Purpose The purpose of this paper is to explore the effect of globalization and credit market imperfections on child labour. Design/methodology/approach Analysis is based on cross-country regression framework, incorporating 129 developing countries for the period 1970-2010. Findings The findings indicate that countries that are more open to trade and having higher foreign direct investment inflow have lower incidence of child labour. As child labour in export-related industries is hard to find, trade sanctions may not have a significant effect on child labour. Further study concludes that income of the bottom quartile of the population is the best representation of the income of the poor when studying child labour. Research limitations/implications The study uses the data compiled by International Labour Organization (ILO). Though much of the variation in the data is because of the adjustments made by ILO, this is the only comparable cross-country estimates available. Hence in the absence of the cross-country comparable estimates, many empirical studies have used this data set (e.g. Cigno et al., 2002; Dehejia and Gatti, 2002; Rogers and Swinnerton, 2001). This study acknowledges this limitation but again in the absence of any comparable estimates, the assessment is also based on this data set. Originality/value Study contributes in the literature by comparing the effect of export and trade and by exploring the effect of an alternate measure of the income, estimated by using Gini coefficient, on child labour. Further studies exploring the effect of globalization did not explore the presence of imperfect credit market, however, this study has explored the effect of credit market imperfections as well.

scholarly journals Hang in There

2020 ◽  
Vol 20 (285) ◽  
Author(s):  
Jorge Chan-Lau ◽  
Yunhui Zhao
Keyword(s):  
Event Study ◽  
Stock Price ◽  
Economic Recovery ◽  
Study Analysis ◽  
Exit Strategy ◽  
Fiscal Stimulus ◽  
Policy Responses ◽  
Cross Country ◽  
The Difference ◽  
The Impact

The COVID-19 pandemic prompted unprecedented economic stimulus worldwide. We empirically examine the impact of a withdrawal of fiscal stimulus policies on the stock markets. After constructing a database of withdrawal events, we use event study analysis and cross-country regressions to assess the difference between the pre- and post-event stock price returns. We find that markets react negatively to premature withdrawals—defined as withdrawals at a time when the daily COVID cases are high relative to their historical average—likely reflecting concerns about the withdrawal impact on the prospects for economic recovery. The design of a successful exit strategy from COVID-19 policy responses should account for these concerns.

What Managerial Skills Are Important for Success: A Cross-Country Comparison

2011 ◽  
Author(s):  
Alexander Patterson ◽  
William A. Gentry ◽  
Sarah A. Stawiski ◽  
David C. Gilmore
Keyword(s):  
Managerial Skills ◽  
Country Comparison ◽  
Cross Country
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