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Misallocation, Property Rights, and Access to Finance : Evidence from Within and Across Africa

Kalemli-Ozcan, Sebnem - 2012

We study capital misallocation within and across 10 African countries using the World Bank Enterprise Surveys. First, we compare the extent of misallocation among firms within countries. We document high variation in firms' marginal product of capital (MPK), implying that countries could produce...

Persistent link: https://www.econbiz.de/10012460629

HIV and Fertility in Africa : First Evidence from Population Based Surveys

Juhn, Chinhui - 2008

The historical pattern of the demographic transition suggests that fertility declines follow mortality declines, followed by a rise in human capital accumulation and economic growth. The HIV/AIDS epidemic threatens to reverse this path. A recent paper by Young (2005), however, suggests that...

Persistent link: https://www.econbiz.de/10012464399

AIDS, "Reversal" of the Demographic Transition and Economic Development : Evidence from Africa

Kalemli-Ozcan, Sebnem - 2006

Using country- and region-level data, I investigate the effect of HIV/AIDS on fertility in Africa during 1985 …

Persistent link: https://www.econbiz.de/10012466487

Debt Overhang, Rollover Risk, and Corporate Investment : Evidence from the European Crisis

Kalemli-Ozcan, Sebnem - 2018

We quantify the role of financial factors that have contributed to sluggish investment in Europe in the aftermath of … investment in the aftermath of the crisis can be linked to higher leverage, increased debt service, and having a relationship … with a weak bank--once we condition on aggregate demand shocks. Second, the relation between leverage and investment …

Persistent link: https://www.econbiz.de/10012453161

Capital Allocation and Productivity in South Europe

Gopinath, Gita - 2015

Starting in the early 1990s, countries in southern Europe experienced low productivity growth alongside declining real interest rates. We use data for manufacturing firms in Spain between 1999 and 2012 to document a significant increase in the dispersion of the return to capital across firms, a...

Persistent link: https://www.econbiz.de/10012457215

Financial Regulation, Financial Globalization and the Synchronization of Economic Activity

Kalemli-Ozcan, Sebnem - 2009

We analyze the impact of financial globalization on business cycle synchronization utilizing a proprietary database on banks' international exposure for industrialized countries during 1978- 2006. Theory makes ambiguous predictions and identification has been elusive due to lack of bilateral...

Persistent link: https://www.econbiz.de/10012008492

Deep Financial Integration and Volatility

Kalemli-Ozcan, Sebnem - 2010

We investigate the relationship between financial integration and output volatility at micro and macro levels. Using a very large firm-level dataset from EU countries over time, we construct a measure of "deep" financial integration at the regional level based on foreign ownership at the firm...

Persistent link: https://www.econbiz.de/10012462751

What Lies Beneath the Euro's Effect on Financial Integration : Currency Risk, Legal Harmonization, or Trade?

Kalemli-Ozcan, Sebnem - 2009

Although recent research shows that the euro has spurred cross-border financial integration, the exact mechanisms remain unknown. We investigate the underlying channels of the euro's effect on financial integration using data on bilateral banking linkages among twenty industrial countries in the...

Persistent link: https://www.econbiz.de/10012463615

How Does Foreign Direct Investment Promote Economic Growth? Exploring the Effects of Financial Markets on Linkages

Alfaro, Laura - 2006

markets in enabling foreign direct investment (FDI) to promote growth through backward linkages, shedding light on this …

Persistent link: https://www.econbiz.de/10012466143

Why Doesn't Capital Flow from Rich to Poor Countries? An Empirical Investigation

Alfaro, Laura - 2005

's institutional quality to Australia's level, implies a quadrupling of foreign investment. Recent studies emphasize the role of … investment might be a channel through which institutions affect long-run development …

Persistent link: https://www.econbiz.de/10012466770