This study examines the cost efficiency of 39 microfinance institutions across Africa, Asia and the Latin America using non-parametric data envelopment analysis. Our findings show non-governmental microfinance institutions particularly; under production approach, are the most efficient and this...

Am Beispiel von acht vorwiegend südostasiatischen Staaten wird untersucht, welchen Einfluß die jeweilige finanzielle Infrastruktur des Landes auf dessen Entwicklungschancen hatte. Nach einer Auseinandersetzung mit unterschiedlichen theoretischen Konzepten zu dieser Frage wird der...

Prior studies have examined the development of the financial system and its impact on economic growth, but little has been said about the relationship between its four major components: banking, the stock market, the bond market (private and public bond) and insurance (life and nonlife). Using a...

This study examines whether loan terms are jointly determined and if information asymmetries' effects on them across revolving and term loans. A simultaneous equation model is applied for revolving and term loans made by US commercial banks to US corporate borrowers from 1987 to 2009. The...

Central bank independence and governance (CBIG) is a term subject to conflicting definitions and so its related studies are difficult to compare. This paper therefore focuses on developing of a more useable definition, and an index model identifying the determinants of independence and...

Central bank independence and governance (CBIG) is a term subject to conflicting definitions and modelling and so its related studies are difficult to compare. This paper therefore focuses on developing of a workable definition, and a robust CBIG index model by identifying its key determinants....