Financial Liberalization and Financing Constraints: Evidence from Panel Data on Emerging Economies

... severe financing constraints before financial liberalization, and face financing constraints of the same order as large firms after financial liberalization In addition, we find some evidence ... empirical work, we consider several, related definitions of financial liberalization Our basic classification of financial liberalization uses the level of the financial lib...

Ngày tải lên: 21/04/2016, 13:14

... effect between trade credit and bank credit For example, Bastos and Pindado (2012) used a dataset of 147 firms from Argentina, Brazil and Turkey in 1999 to 2003; and found that trade credit increases ... impact of legal system on trade credit First, I re-estimate equation (1) using alternative measures of trade credit and legal system Table reports the To...

Ngày tải lên: 12/10/2015, 17:36

... effect between trade credit and bank credit For example, Bastos and Pindado (2012) used a dataset of 147 firms from Argentina, Brazil and Turkey in 1999 to 2003; and found that trade credit increases ... impact of legal system on trade credit First, I re-estimate equation (1) using alternative measures of trade credit and legal system Table reports the To...

Ngày tải lên: 08/11/2015, 17:33

... firm-years rather than simply firms See Carpenter and Guariglia (2003), Bond and Meghir (1994), Kaplan and Zingales (1997), Guariglia and Schiantarelli (1998), and Guariglia (2000) for a similar approach ... differentiating the effects of the latter variable across small firm-years making a low use of trade credit; small firm- years making a high use of trade cre...

Ngày tải lên: 06/03/2014, 08:20

... combine experimental and survey evidence from India and Indonesia to argue that the demand for bank savings accounts is not constrained by lack of financial literacy, but rather by high prices ratio ... offer insurance in case of a funeral or other catastrophic events (Dupas and Robinson, 2012) Finally, while bank savings are made individually, ROSCA contributions are made in...

Ngày tải lên: 06/03/2014, 10:20

... capture the pure impact of the degree of judicial enforcement Finally, our data set allowed us to investigate the impact of the degree of judicial enforcement on the flow (rather than the stock) of ... Fabbri (2002), employ the stock of debt to examine the impact of the degree of judicial enforcement on loan size Most of these studies fi...

Ngày tải lên: 22/03/2014, 20:20

... impacts The thesis would bring some insights into the environmental legal regulation in Vietnam and the impacts they have on the industry I.1 Research questions The thesis aims to answer the following ... of environment within the Vietnam textile industry - Collecting and studying the Vietnamese environmental policies and standards, especially those app...

Ngày tải lên: 24/08/2013, 18:48

... restructure the debate on financial liberalization and to articulate the arguments against the financial liberalization theory It puts into focus some of the worries, criticisms and limitations of the financial ... liberalization theory which are important to bear in mind when evaluating the implementation of policies in the context of African countries T...

Ngày tải lên: 17/12/2013, 05:15

... Account and Financial Sector in the early 1990s Liberalization of the Capital Account Liberalization of the Financial System IV Consequences of the Liberalization of the Capital Account and the Financial ... to the Regulatory Regime in the Aftermath of the Liberalization of the Financial System and the Capital Account Financial secto...

Ngày tải lên: 27/01/2014, 11:20

... viewed as foreign, and most states strictly forbid entry by banks from other states until the mid-1970s Even banks from other cities within a state were often blocked from opening branches in other ... resulting from foreign bank entry has been associated with more or less business cycle volatility We approach the topic with mix of theory and evidence from...

Ngày tải lên: 16/02/2014, 10:20

... city banks, regional banks and member banks of the Second Association of Regional Banks (also called Tier II regional banks), long-term credit banks, trust banks and other City banks are major banks ... the sum of “cash and due from banks” and “call loans” under “Assets” on banks’ balance sheets Due from banks include both banks’ reserves at the BOJ and banks’ deposits with othe...

Ngày tải lên: 16/02/2014, 11:20

... Monetary Policy Surprises and Interest Rates: Evidence from the Fed Funds Futures Market Abstract This paper estimates the impact of monetary policy actions on bill, note, and bond yields, ... with the effects of Fed policy on bond prices And because the first link in the transmission of Federal Reserve policy is from the Fed funds target...

Ngày tải lên: 06/03/2014, 02:21

... gasoline prices and retailer markups documented in Lewis (2011) The primary contribution of this paper is to provide evidence of mental accounting “in the wild.” Most evidence on mental accounting ... models of consumer demand Econometrica 52 (3): 541-561 Heath, Chip and Jack B Soll 1996 Mental budgeting and consumer decisions The Journal of Consumer Research 23(1):...

Ngày tải lên: 06/03/2014, 21:20

... low mortality and low growth rates For example, the 1982, 1990 and 2000 population census, and the 1997 and 2001 population and reproductive health surveys PARENTAL EDUCATION AND CHILD HEALTH ... relationship between parental education and child health Most of these studies find that parental education level is positively associated with child health, and that...

Ngày tải lên: 14/03/2014, 11:20

... al (2012) Credit-risk valuation in the sovereign CDS and bonds markets: Evidence from the euro area crisis 13 dispersion in the beliefs of investors on the probability that certain European countries ... 1% (5% and 10%) Credit-risk valuation in the sovereign CDS and bonds markets: Evidence from the euro area crisis 35 7 Concl...

Ngày tải lên: 15/03/2014, 07:20