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The Political Economy of Financial Systems

Carney, Richard W. - 2012

Why do countries with similar levels of development have such different financial systems? Some countries, such as the US and UK, rely extensively upon capital markets for mobilizing new capital, while others, such as Germany, France, and Japan, rely heavily on bank lending. I argue that the...

Persistent link: https://www.econbiz.de/10013099039

Financial Market Reform and Skill-Intensive Industry Growth

Martinsson, Gustav - 2014

Financial markets in most developed economies were open to foreign investors before 1980, yet these countries continued to reform their financial systems dramatically in subsequent decades. During the same time period, high-skill industries become increasingly important; for example, in the US...

Persistent link: https://www.econbiz.de/10013063144

The redistributive effects of financial deregulation

Korinek, Anton; Kreamer, Jonathan - In: Journal of monetary economics 68 (2014), pp. 55-67

Persistent link: https://www.econbiz.de/10011290229

Equilibrium Growth, Inflation, and Bond Yields

Kung, Howard - 2012

This paper explores bond pricing implications of a stochastic endogenous growth model with imperfect price adjustment. In this setting, the production and price-setting decisions of firms drive low-frequency movements in macro growth and inflation rates that are negatively related, as in the...

Persistent link: https://www.econbiz.de/10013109941

Fractional Trading

Da, Zhi; Fang, Vivian W.; Lin, Wenwei - 2022

Fractional trading (FT)—the ability to trade less than a full share—allows low-budget retail investors to trade high-priced stocks. This paper quantifies FT's impact on retail ownership and trading of high-priced stocks by exploiting its sequential introduction at four brokerage firms since...

Persistent link: https://www.econbiz.de/10013321811

Macroprudential Policy, Differences in Beliefs and Growth

Wei, Daren - 2017

I propose a model of macroprudential policy interventions in financial markets. I solve a heterogeneous-agent asset pricing model and show that speculation caused by differences in beliefs about expected technology growth increases asset returns volatility and the equity risk premium, reduces...

Persistent link: https://www.econbiz.de/10012943346

Regulation of Financial Systems and Economic Growth

De Serres, Alain; Kobayakawa, Shuji; Sløk, Torsten; … - 2006

This paper examines whether regulation that is more conducive to competitive and efficient financial systems has a … external sources of funding tend to grow faster in countries that have more competition-friendly regulation in markets for … on regulations in banking and securities markets. They point to substantial variations in the stance of regulation across …

Persistent link: https://www.econbiz.de/10012444857

Medium and long term implications of financial integration without financial development

Corneli, Flavia - 2017

Persistent link: https://www.econbiz.de/10011949653

Financial integration without financial development

Corneli, Flavia - In: Atlantic economic journal : AEJ 49 (2021) 2, pp. 201-220

Persistent link: https://www.econbiz.de/10012614564

Growth and Income Distribution Policies Drive China's Financial and Capital Market Reforms

Sekine, Eiichi - 2013

The Communist Party reaffirmed plans to expedite China's transition to a new growth model at its 18th National Congress in November 2012. To this end, China has already started making moves to further develop the financial industry and the entire services sector, including announcing in February...

Persistent link: https://www.econbiz.de/10013073735

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