Costs of Sovereign Defaults: Restructuring Strategies and Financial Intermediation

2021 ◽  
Author(s):  
Tamon Asonuma ◽  
Marcos Chamon ◽  
Aitor Erce ◽  
Akira Sasahara
Keyword(s):  
Financial Intermediation ◽  
Sovereign Defaults

Can Sovereign Defaults Be Forecasted?

2000 ◽  
Vol 2000 (4) ◽  
pp. 32-42
Author(s):  
David Anthony
Keyword(s):  
Sovereign Defaults

Financial Intermediation and Growth: Theory and Some Cross-Country Evidence

1997 ◽  
Vol 36 (4II) ◽  
pp. 855-862
Author(s):  
Tayyeb Shabir
Keyword(s):  
Economic Growth ◽  
Financial Markets ◽  
Financial Intermediation ◽  
Empirical Estimates ◽  
Financial Liberalisation ◽  
Cross Country ◽  
Level Of Significance ◽  
The Relationship ◽  
Positive Effect ◽  
Theoretical Developments

Well-functioning financial markets can have a positive effect on economic growth by facilitating savings and more efficient allocation of capital. This paper characterises some of the recent theoretical developments that analyse the relationship between financial intermediation and economic growth and presents empirical estimates based on a model of the linkage between financially intermediated investment and growth for two separate groups of countries, developing and advanced. Empirical estimates for both groups suggest that financial intermediation through the efficiency of investment leads to a higher rate of growth per capita. The relevant coefficient estimates show a higher level of significance for the developing countries. This financial liberalisation in the form of deregulation and establishment and development of stock markets can be expected to lead to enhanced economic growth.

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