The political economy of bank lending: evidence from an emerging market
Our paper studies the existence of political rents in bank lending in Mexico. Unlike prior studies examining political rent seeking in public sector banks, we focus on an economy with a fully...
View ArticlePsychometrics as a tool to improve screening and access to credit
Small and medium enterprises (SMEs) often face financial constraints because they lack audited statements and other information about their operations, and as a result, financial institutions have...
View ArticleAre neurotic, extraverted youths in more need of financial education?
Every day more and more people in the world have access to financial services. In the minds of many, that poses an important risk. People need financial education, particularly in the form of...
View ArticleHow equitable is access to finance in Turkey? Evidence from the latest Global...
Access to finance is an important tool against poverty since it allows for the smoothing of consumption. The equality of access amongst different groups in the society is also crucial in terms of...
View ArticleAccess to finance and job growth
The recent global financial crisis has highlighted the impact of credit markets on the real economy, in particular on employment. While an extensive literature exists on how finance can affect...
View ArticleCan wage subsidies boost employment in the wake of an economic crisis?
Unemployment often rises during an economic crisis and policymakers take a range of actions to try to mitigate this increase. For example, 22 countries around the world used some form of wage subsidy...
View ArticleThe Kenyan financial transformation (2000-2015)
Giant leaps in financial inclusion driven by private sector innovation and supportive regulation have made Kenya a case study in financial sector development. A new book brings together a group of...
View ArticleInformed trading in business groups, ownership concentration, and market...
Institutional investors have become the majority owners of most large corporations and are expected to play a key role for financial development by providing funding for firms, enhancing market...
View ArticleThe recent credit surge, seen in historical context
Since the global financial crisis, credit to the private nonfinancial sector in emerging markets and developing economies (EMDEs) has surged. Within this overall surge, however, there has been...
View ArticleThe challenge: How do we measure the mobilisation of private finance?
Massive amounts of private finance will be needed to achieve the Sustainable Development Goals (SDGs). At the same time, there is understandable pressure on official sector entities to demonstrate...
View ArticleHow long is the maturity of corporate borrowing?
The extent to which firms borrow short versus long term has generated much interest in policy and academic discussions in recent years. For example, concerns of a shortage of long-term investment in...
View ArticleThe Nexus of financial inclusion and stability: Implications for holistic...
Both financial inclusion and financial stability are high on international policy makers’ agenda. For instance, the G-20 has called for global commitments to both advancing financial inclusion (the...
View ArticlePathways to profits for micro and small enterprises
Numerous research studies on micro and small firms from around the world have shown that (a) microenterprises are ubiquitous; and (b) only a very small percentage of such firms scale up to become...
View ArticleThe transmission of real estate shocks through multinational banks
Cross-border banking has grown dramatically in recent decades through financial liberalization, consolidation, and integration around the world. In the pursuit of higher profitability and...
View ArticleClik here to view.
Financial constraints and export market participation in the Arab Republic of...
Geographical location, important seaports, and airports are factors facilitating international trade in the Arab Republic of Egypt. The country’s natural access to sea routes through the Mediterranean...
View ArticleThe hidden costs of index investing in foreign markets
Cross-border portfolio investments are increasingly important in global markets. Since 2001, the share of equity holdings by foreign investors grew from 19 percent of the world's stock market...
View ArticleCan foreign banks bridge the information gap to boost exports?
Foreign banks can play an important role in facilitating international trade. They can provide trade financing, enforce contracts, and reduce information asymmetries. Studies have shown that trade...
View ArticleIs there a natural resource curse in finance?
The natural resource curse has featured prominently in discussions on why many developing countries fail to grow. This curse takes on many flavours — adverse exchange rate effects, underinvestment in...
View ArticleBanking the unbanked: Measuring the success of JDY
There is a big debate about the role of financial markets and products in shaping consumer welfare and real economic activity. In developed economies, there is an increasing discussion that financial...
View ArticleNascent stock exchanges — tales of success and failure
Public equity markets are seen as a critical component of a developed financial system, with such markets going back to the 18th and 19th century in many advanced economies. There have been therefore...
View Article