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This paper examines the causal relationship between financial development and economic growth in Egypt during the period 1960-2001 within a trivariate VAR setting. We employ four different measures of financial development and apply Granger causality tests using the cointegration and vector...
Persistent link: https://www.econbiz.de/10005789771
This paper examines the causal relationship between financial development and economic growth in five Middle Eastern and North African (MENA) countries for different periods ranging from 1960 to 2004, within a trivariate vector autoregressive (VAR) framework. We employ four different measures of...
Persistent link: https://www.econbiz.de/10005790290
Small and medium-sized enterprises (SMEs) play a crucial role in the Egyptian economy, in term of their contribution to the GDP and total employment. Yet, their contribution in capital formation is very limited, mainly because of the finance constraints they face. Consequently, to improve the...
Persistent link: https://www.econbiz.de/10005616757
Integration has become a second nature of Europeans.. Day-in, day-out, we experience more worldwide integration of markets and this will further develop as –in the end – it will mean real tangible benefits for all stakeholders involved. One of the most important parts of the integration...
Persistent link: https://www.econbiz.de/10005621830
Purpose: The purpose of this paper is to examine the underpricing of initial public offers (IPOs), which were announced by Indian firms for the period 2007 through 2009. It is motivated by the fact that a well-developed capital market is a function of economic growth and a reflection of the...
Persistent link: https://www.econbiz.de/10011210490
Access to finance by the poor is a sine qua non for poverty reduction through economic development thereby driving inclusive growth which can further lead to sustainable growth. This study using adequate data covering pre and postliberalisation period from 1974-75 to 2007-08 in the Indian...
Persistent link: https://www.econbiz.de/10011259337
This paper while emphasising the importance of the concept of financial stability in the wake of recent global financial crisis attempts to highlight the significance of the soundness of banking sector in emerging economies where banking sector constitutes a lion’s share in the financial...
Persistent link: https://www.econbiz.de/10011259894
significance of the interrelatedness of the bank-specific variables such as; Liquidity, Asset Quality, Capital Adequacy and …
Persistent link: https://www.econbiz.de/10011260876
How do market-based channels for the provision of liquidity affect financial liberalization and contagion? In order to … distortion created by hidden markets improve the resilience of the system to unexpected liquidity shocks. With fully integrated … interbank markets, such effect again disappears, as unexpected liquidity shocks always lead to bankruptcy and contagion. …
Persistent link: https://www.econbiz.de/10008869263
In the present paper, I analyze how unobservable savings affect risk sharing and bankruptcy decisions in the financial system. I extend the Diamond and Dybvig (1983) model of financial intermediation to an environment with heterogeneous intermediaries, aggregate uncertainty and agents' hidden...
Persistent link: https://www.econbiz.de/10008869270