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Coming from standard economic growth theory and empirical evidences, we concentrated on the convergence process as a result of structural changes in economy. We investigate the differences among countries in EU in terms of the share in total economy of main sectors. Then, based on the spatial...
Persistent link: https://www.econbiz.de/10009132737
In this article recession magnitudes in Europe, the USA and Japan during the Great Recession are compared. The …
Persistent link: https://www.econbiz.de/10011258149
In the aftermath of the recent global financial crisis, the implication of financial liberalisation for stability and economic growth has come under increasing scrutiny. One strand of literature posits a positive relationship between financial liberalisation and economic growth and development....
Persistent link: https://www.econbiz.de/10011113590
This paper explores the non-linear relationship between financial development and economic growth. It mainly relies on the Panel Smooth Transition Regression (PSTR) model of Gonzalés et al. (2005) and three metrics of financial development to endogenously assess the impact of financial...
Persistent link: https://www.econbiz.de/10011271319
We show that contract-intensive industries particularly thrive both in countries with high initial level of financial development and in the US states that deregulated their banking sector. These industries use high share of relationship-specific inputs that can be purchased only via specific...
Persistent link: https://www.econbiz.de/10005000012
We show that contract-intensive industries grow disproportionately faster both in countries with a high initial level of financial development and in the US states which deregulated their banking sector. These industries use a high share of relationship-specific inputs that can be purchased only...
Persistent link: https://www.econbiz.de/10005026629
innovations, trends and efficiency. In particular, we focus on controversial issues of microfinance, such as commercialization …
Persistent link: https://www.econbiz.de/10011258789
This study aims to assess the microfinance institutions’ (MFIs’) efficiency in the West African Economic and Monetary … outreach. For this purpose, we use a data envelopment analysis (DEA) to measure the social efficiency on the one hand and the … financial efficiency on the other hand. Our results show that sustainability prevails. Indeed, we observe an increase in …
Persistent link: https://www.econbiz.de/10011260252
recent innovations, trends and efficiency. In particular, we focus on controversial issues of microfinance, such as … an illustrative econometric model of the relation between social and financial efficiency. …
Persistent link: https://www.econbiz.de/10011108740
. Nevertheless, for most countries, any questions regarding the optimality and sustainability of the common currency area in Europe …
Persistent link: https://www.econbiz.de/10012910120