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The Effects of Volatility on Growth and Financial Development through Capital Market Imperfections
Aysan, Ahmet Faruk - Volkswirtschaftliche Fakultät, … - 2006
This paper provides a model to account for the empirical evidence that volatility reduces growth. In the model, greater … period. Hence, volatility reduces growth by deterring people from taking advantage of more productive technology. This model … growth by suggesting that totals factor productivity rather than the total factor accumulation is the key for growth. …
Persistent link: https://www.econbiz.de/10005789280
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Adjustment to target capital, finance and growth
Ciccone, Antonio; Papaioannou, Elias - Department of Economics and Business, Universitat … - 2006
? We argue that if this was the case, financially developed countries should see faster growth in industries with … investment opportunities due to global demand and productivity shifts. Testing this cross-industry cross-country growth …
Persistent link: https://www.econbiz.de/10005772470
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Financial integration, productivity and capital accumulation
Bonfiglioli, Alessandra - Department of Economics and Business, Universitat … - 2006
Understanding the mechanism through which financial globalization affect economic performance is crucial for evaluating the costs and benefits of opening financial markets. This paper is a first attempt at disentangling the effects of financial integration on the two main determinants of...
Persistent link: https://www.econbiz.de/10005772531
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Dynastic Management
Caselli, Francesco; Gennaioli, Nicola - C.E.P.R. Discussion Papers - 2003
Dynastic management is the inter-generational transmission of control over assets that is typical of family-owned firms. It is pervasive around the world, but especially in developing countries. We argue that dynastic management is a potential source of inefficiency: if the heir to the family...
Persistent link: https://www.econbiz.de/10005136641
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Adjustment to Target Capital, Finance and Growth
Ciccone, Antonio; Papaioannou, Elias - C.E.P.R. Discussion Papers - 2006
? We argue that if this was the case, financially developed countries should see faster growth in industries with … investment opportunities due to global demand and productivity shifts. Testing this cross-industry cross-country growth …
Persistent link: https://www.econbiz.de/10005504771
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Financial Integration, Productivity and Capital Accumulation
Bonfiglioli, Alessandra - Institut für Volkswirtschaftslehre, … - 2007
Understanding the mechanism through which financial globalization affects economic performance is crucial for evaluating the costs and benefits of opening financial markets. This paper is a first attempt at disentangling the effects of financial integration on the two main determinants of...
Persistent link: https://www.econbiz.de/10005463529
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Financial Integration, Productivity and Capital Accumulation
Bonfiglioli, Alessandra - Departament d'Economia i Història Econòmica, … - 2007
Understanding the mechanism through which financial globalization affects economic performance is crucial for evaluating the costs and benefits of opening financial markets. This paper is a first attempt at disentangling the effects of financial integration on the two main determinants of...
Persistent link: https://www.econbiz.de/10005572150
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Service regulation and growth: evidence from OECD countries
Barone, Guglielmo; Cingano, Federico - Banca d'Italia - 2008
results indicate that lower service regulation translates into faster value added, productivity, and export growth of … downstream service-intensive industries. The negative growth-effect of anti-competitive regulation is particularly relevant in …
Persistent link: https://www.econbiz.de/10005113605
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How Does Financial Liberalization affect Economic Growth?
Bonfiglioli, Alessandra - Institute for International Economic Studies (IIES), … - 2005
financial liberalization spurs productivity growth and marginally affects capital accumulation. Banking crises depress both … investments and TFP. Both levels and growth rates of productivity respond to financial liberalization and banking crises. The …
Persistent link: https://www.econbiz.de/10005648774
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Economic growth, financial development, and income inequality
Park, Donghyun; Shin, Kwanho - 2015
The central objective of our paper is to empirically examine the relationship between financial development and income inequality. Theoretically, there are grounds for both a positive and negative relationship between the two variables. Our main finding is that financial development contributes...
Persistent link: https://www.econbiz.de/10011305273