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Causes of Asset Shortages in Emerging Markets

Causes of Asset Shortages in Emerging Markets »

Source: Causes of Asset Shortages in Emerging Markets

Volume/Issue: 2011/114

Series: IMF Working Papers

Author(s): Jiaqian Chen , and Patrick Imam

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2011

ISBN: 9781455262373

Keywords: Asset Shortage, Emerging Market, Capital Market, Regulation, financial assets, interest rates, capital markets, capital account, pension funds, Money and Interest Rates: General

We first illustrate that emerging markets (EMs) face a shortage of financial assets, with financial assets not growing as rapidly as domestic savings. We then estimate the asset shortage in EMs for 1995-2008. We de...

Should Banks Be Narrowed?

Should Banks Be Narrowed? »

Source: Should Banks Be Narrowed?

Volume/Issue: 2001/159

Series: IMF Working Papers

Author(s): Biaggio Bossone

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2001

ISBN: 9781451857672

Keywords: narrow banking, nonbanks, banking, deposit insurance, bank deposits, financial stability, General Financial Markets, Financial Institutions And Services,

Over the past seventy years, the proposal to narrow the scope of banks has occurred more and more frequently in financial debates and research. Narrow banking would prevent deposit-issuing banks from lending to the...

The Quality Effect

The Quality Effect »

Source: The Quality Effect : Does Financial Liberalization Improve the Allocation of Capital?

Volume/Issue: 2004/112

Series: IMF Working Papers

Author(s): Abdul Abiad , Nienke Oomes , and Kenichi Ueda

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2004

ISBN: 9781451853636

Keywords: Tobin&;amp;#x2019;s Q, financial liberalization, allocative efficiency, inequality, stock market, financial deepening, stock market turnover, stock market capitalization, Financial Markets and the Macroeconomy, General Financial Markets: Government Policy and Regulation,

The study documents evidence of a "quality effect" of financial liberalization on allocative efficiency, which is measured by the dispersion in Tobin's Q across firms. Based on a simple model, the authors predict t...

Firm Productivity, innovation and Financial Development

Firm Productivity, innovation and Financial Development »

Source: Firm Productivity, innovation and Financial Development

Volume/Issue: 2010/49

Series: IMF Working Papers

Author(s): Genevieve Verdier , Erasmus Kersting , and Era Dabla-Norris

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2010

ISBN: 9781451963250

Keywords: innovation, survey data, financial development., survey, dummy variable, equation, stock market, Innovation and Invention: Processes and Incentives, Financial Development, General Financial Markets,

How do firm-specific actions-in particular, innovation-affect firm productivity? And what is the role of the financial sector in facilitating higher productivity? Using a rich firm-level dataset, we find that innov...

Corporate Investment in Emerging Markets

Corporate Investment in Emerging Markets »

Source: Corporate Investment in Emerging Markets : Financing vs. Real Options Channel

Volume/Issue: 2015/285

Series: IMF Working Papers

Author(s): Delong Li , Nicolas Magud , and Fabian Valencia

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 December 2015

ISBN: 9781513539935

Keywords: financial frictions, real options, uncertainty shocks, interest, interest rates, markets, cash flows, General, All Countries,

We examine how firm and country heterogeneity shape the response of corporate investment in emerging markets to changes in global interest rates and volatility. We test for the presence of (i) a financing channel o...

Land Distribution and Financial System Development1

Land Distribution and Financial System Development1 »

Source: Land Distribution and Financial System Development

Volume/Issue: 2007/83

Series: IMF Working Papers

Author(s): Dietrich Vollrath , and Lennart Erickson

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2007

ISBN: 9781451866476

Keywords: Land Inequality, Financial Development, gini coefficient, financial system, financial sector, dependent variable, Aggregate Factor Income Distribution, General Financial Markets: Government Policy and Regulation,

Research on credit markets from developing economies, as well as work on the origin of institutions in general, has suggested that land inequality may play a role in determining financial development. In this paper...

Competition in the Financial Sector

Competition in the Financial Sector »

Source: Competition in the Financial Sector : Overview of Competition Policies

Volume/Issue: 2009/45

Series: IMF Working Papers

Author(s): Stijn Claessens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2009

ISBN: 9781451871937

Keywords: competition policy, contestability, stability, degree of competition, General Financial Markets: General (includes Measurement and Data), General Financial Markets: Government Policy and Regulation, Financial Institutions and Services: Government Policy and Regulation, Market Structure, Firm Strategy, And Market Performance

As in other sectors, competition in finance matters for allocative, productive and dynamic efficiency. Theory suggests, however, that unfettered competition is not first best given the special features of finance....

Interest Rate Volatility and Risk in Indian Banking

Interest Rate Volatility and Risk in Indian Banking »

Source: Interest Rate Volatility and Risk in Indian Banking

Volume/Issue: 2004/17

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2004

ISBN: 9781451843569

Keywords: Interest volatility, risk, Indian banks, interest rate risk, cash flows, equity capital, bonds, banking, Financial Institutions and Services, General Financial Markets,

The easing of controls on interest rates has led to higher interest rate volatility in India. Hence, there is a need to measure and monitor the interest rate exposure of Indian banks. Using publicly available infor...

Credit Constraints, Productivity Shocks and Consumption Volatility in Emerging Economies

Credit Constraints, Productivity Shocks and Consumption Volatility in Emerging Economies »

Source: Credit Constraints, Productivity Shocks and Consumption Volatility in Emerging Economies

Volume/Issue: 2013/120

Series: IMF Working Papers

Author(s): Rudrani Bhattacharya , and Ila Patnaik

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 May 2013

ISBN: 9781484325988

Keywords: Macroeconomics, real business cycles, emerging market business cycle stylized facts, financial development, consumption volatility, total consumption, business cycle, business cycles, growth rate, General

How does access to credit impact consumption volatility? Theory and evidence from advanced economies suggests that greater household access to finance smooths consumption. Evidence from emerging markets, where cons...

Bank Ownership and the Effects of Financial Liberalization

Bank Ownership and the Effects of Financial Liberalization »

Source: Bank Ownership and the Effects of Financial Liberalization : Evidence from India

Volume/Issue: 2011/50

Series: IMF Working Papers

Author(s): Poonam Gupta , Kalpana Kochhar , and Sanjaya Panth

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2011

ISBN: 9781455218929

Keywords: banking reforms, financial liberalization, bank ownership, government securities, banking, investment in government securities, banking sector, state bank, General Financial Markets: Government Policy and Regulation, Financial Institutions and Services: Government Policy and Regulation,

Do financial sector reforms necessarily result in expansion of credit to the private sector? How does bank ownership affect the availability of credit to the private sector? Empirical evidence is somewhat mixed on...