Download or read book Innovative Financing for Development written by Suhas Ketkar and published by World Bank Publications. This book was released on 2008-09-29 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: Developing countries need additional, cross-border capital channeled into their private sectors to generate employment and growth, reduce poverty, and meet the other Millennium Development Goals. Innovative financing mechanisms are necessary to make this happen. 'Innovative Financing for Development' is the first book on this subject that uses a market-based approach. It compiles pioneering methods of raising development finance including securitization of future flow receivables, diaspora bonds, and GDP-indexed bonds. It also highlights the role of shadow sovereign ratings in facilitating access to international capital markets. It argues that poor countries, especially those in Sub-Saharan Africa, can potentially raise tens of billions of dollars annually through these instruments. The chapters in the book focus on the structures of the various innovative financing mechanisms, their track records and potential for tapping international capital markets, the constraints limiting their use, and policy measures that governments and international institutions can implement to alleviate these constraints.
Download or read book Financing the Future written by Franklin Allen and published by Pearson Prentice Hall. This book was released on 2010-03-23 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial innovation can drive social, economic, and environmental change, transforming ideas into new technologies, industries, and jobs. But when it is misunderstood or mismanaged, the consequences can be severe. In this practical, accessible book, two leading experts explain how sophisticated capital structures can enable companies and individuals to raise funding in larger amounts for longer terms and at lower cost—accomplishing tasks that would otherwise be impossible. The authors recount the history and basic principles of financial innovation, showing how new instruments have evolved, and how they have been used and misused. They thoroughly demystify complex capital structures, offering a practical toolbox for entrepreneurs, corporate executives, and policymakers. Financing the Future presents clear, thorough discussions of the current role of financial innovation in capitalizing businesses, industries, breakthrough technologies, housing solutions, medical treatments, and environmental projects. It also presents a full chapter of lessons learned: essential insights for stabilizing the economy and avoiding pitfalls. Distinguishing genuine innovation from dangerous copycats Crafting sustainable financial innovations that add value and manage risk The best tools for the job: choosing them, customizing them, using them Selecting the right instruments and structures, and making the most of them Financial innovations for business, housing, and medical research Finding new and better ways to promote entrepreneurship and advance social goals Innovating to save the planet and help humanity The power of finance to protect natural resources and alleviate global poverty This is the first in a new series of books on financial innovation, published through a collaboration between Wharton School Publishing and the Milken Institute. Future titles will focus on specific policy areas such as housing and medical research. The Milken Institute is an independent economic think tank whose mission is to improve the lives and economic conditions of diverse populations in the United States and around the world by helping business and public policy leaders identify and implement innovative ideas for creating broad-based prosperity. It puts research to work with the goal of revitalizing regions and finding new ways to generate capital for people with original ideas.
Download or read book Finance Mechanisms for the New Industry Growth written by Soo-Dong Kim and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: New industry finance has the following five characteristics. First, information asymmetry problem appears relatively stronger in the new industry finance compared to the normal industry finance. Asymmetry of information between trading partners means that the amount of information is on different states between them. It occurs when the company management with superior information about the financial situation and the value of company attracts funds from investors who have relatively low information about the company. In financial transactions, the adverse selection and moral hazard problems due to the information asymmetry cause the market failure that the supply of funds takes place under the optimal level of funds. Market failure due to the information asymmetry is a common phenomenon seen in the financial markets. Moreover, if the company belongs to the new industry sectors and is in initial stage of technical development, the information asymmetry problem is likely to occur more seriously.Second, Uncertainty is relatively large. Financial institutions are experts in risk assessment and management. But they tend to avoid uncertainty. Here risk means that an undesirable situation that is possible to take place. However, uncertainty means that what would happen is not possible topredict. Main difference between the two concepts is that assessing the risk is possible in advance but predicting the uncertainty is not. There are a lot of uncertain factors in the process of technology development that can't be evaluated and managed in the financial markets. It is hard to predict the success of technology development itself. Even though this technology is successfully developed and commercialized, sustainable profits are made when market demand is secured. In this case it is more difficult job to evaluate the uncertain situation of market that affects the potential market demand. As a matter of fact, risk management of financial institutions is one of the mostimportant roles among the traditional roles of financial intermediaries. Third, the ratio of mortgage-related tangible assets out of financial demander's equity holdings is relatively low. Firms in new industries who do not have enough tangible assets fall short of financing ability compared to firms who have enough mortgage-related assets. Moreover, the technologyoriented assets are less valuable when a firm tries to liquidate those assets. Here new firms in high-tech industries on the basis of the skills and knowledge have difficulties in financing of new projects. More fundamentally, new industry firms focusing on the development of technology have almost no tangible assets. Most assets of these firms are composed of intangible assetssuch as knowledge and patents. After all these firms have hard time to get funds from financial institutions that requires physical mortgages. If conventional firms with procured funds invest in tangible assets such as production equipment, it is easier to recover some of the investment by selling the tangle assets even if the investment fails. But in case of the investment in technology development it is almost impossible recovering the invested funds when investment fails.Fourth, one can refer to the inevitability of technology development investment. There should be a minimum investment of a certain size in the stage of research and development and market securement stage. This certain amount of investment makes it difficult to enter into the market and restricts competition in the market and then efficiency is decreased. Therefore, it is desirable that a big investment project divides into a series of multi-stage small investment projects. Each project is financed through the reasonable financing path. However, in case of the investment in technology, because dividing a project into multi-phase small projects is not always possible raising fundsthrough the traditional financial market is not easy work.Finally, the fifth feature is the external effects that the private benefit of technology development is smaller than the social benefit. The reason why the external effects appear is that the benefits from developing the technology are not fully privatized. But there is some method to protect technologydeveloper's right such as patents from imitating newly developed technology. Knowledge acquired in the process of technology innovation helps develop technologies of other companies through the informal networks. A company's investment on developing technology has external effects that enhance the performance of other company's investment on the technology development. Developer can privatize the benefit of technological development by receiving the compensation of technology transfer such as royalties. But unlike the technologies privatized, know-how mainly spread through informal networks is not privatized. For this reason, the level of technology development investment that the individual company chooses is less than the socially optimal level of investment.
Download or read book Public Finance Mechanisms to Catalyze Sustainable Energy Sector Growth written by and published by UNEP/Earthprint. This book was released on 2005 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Finance Firm Size and Growth written by Thorsten Beck and published by World Bank Publications. This book was released on 2005 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The authors examine whether financial development boosts the growth of small firms more than large firms and hence provides information on the mechanisms through which financial development fosters aggregate economic growth. They define an industry's technological firm size as the firm size implied by industrial specific production technologies, including capital intensities and scale economies. Using cross-industry, cross-country data, the results indicate that financial development exerts a disproportionately large effect on the growth of industries that are technologically more dependent on small firms. This suggests that financial development accelerates economic growth by removing growth constraints on small firms and also implies that financial development has sectoral as well as aggregate growth ramifications. This paper--a product of the Finance Group, Development Research Group--is part of a larger effort in the group to understand the growth finance link"--World Bank web site.
Download or read book The Ernst Young Guide to Financing for Growth written by Ernst & Young LLP and published by John Wiley & Sons. This book was released on 1994-03-31 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the experts at Ernst & Young's world-renownedEntrepreneurial Services Group--a host of innovative strategies forfueling business growth! When most owners and entrepreneurs needgrowth capital, they think "bank." But with the explosive growth offinancial markets, there are now as many ways to raise capital asthere are to spend it. This book offers you an invaluableopportunity to tap into both cutting-edge and proven strategiesthat can help you grow your business effectively and efficiently.Whether it's money for product development, expansion into newmarkets, a start-up or a buy-out, The Ernst & Young Guide toFinancing for Growth offers you a host of innovative strategies tohelp you realize your goal. This new edition of The Ernst &Young Guide to Raising Capital has been updated and expanded toinclude all the latest on state, federal, and internationalfinancing programs, all the new SEC reporting requirements, andmore. * Going public * Borrowing * Generating extra cash * Private placement * Leasing * Government financing * Venture capital * And much more For all stages of development, for all areas of business andfinance--Ernst & Young is your #1 business resource. Mergersand Acquisitions, Second Edition The Ernst & Young BusinessPlan Guide, Second Edition The Ernst & Young Guide to Expandingin the Global Market Privatization: Investing in InfrastructuresAround the World The Ernst & Young Almanac and Guide to U.S.Business Cities
Download or read book The Growth Report written by Commission on Growth and Development and published by World Bank Publications. This book was released on 2008-07-23 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: The result of two years work by 19 experienced policymakers and two Nobel prize-winning economists, 'The Growth Report' is the most complete analysis to date of the ingredients which, if used in the right country-specific recipe, can deliver growth and help lift populations out of poverty.
Download or read book Finance for Growing Enterprises written by Roger Buckland and published by Routledge. This book was released on 2016-07-15 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume, originally published in 1995, examines the mechanisms by which businesses that have the capacity to grow – whether in terms of output, innovation or export – acquire the cash that enables growth. Addressing an issue of central importance to the competitiveness of firms and economies, this book draws together research by leading academics in the area. Throughout, research studies develop the themes of market failure, finance gaps and failure of demand. They also bring out the linkages between the financing choices facing the growing firm and the issues of organisation and of corporate governance that have to be address during the process of growth and maturity. Contributors challenge financial orthodoxy throughout, providing coherent analyses of the difficulties faced in the finance of the growing enterprise, from its early dependence on banks and informal finance to the pinnacle of a stock exchange listing.
Download or read book Finance and Growth written by Ross Levine and published by . This book was released on 2004 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper reviews, appraises, and critiques theoretical and empirical research on the connections between the operation of the financial system and economic growth. While subject to ample qualifications and countervailing views, the preponderance of evidence suggests that both financial intermediaries and markets matter for growth and that reverse causality alone is not driving this relationship. Furthermore, theory and evidence imply that better developed financial systems ease external financing constraints facing firms, which illuminates one mechanism through which financial development influences economic growth. The paper highlights many areas needing additional research"--NBER website
Download or read book Scaling up Finance Mechanisms for Biodiversity written by OECD and published by OECD Publishing. This book was released on 2013-05-24 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report examines six mechanisms that can be used to scale-up financing for biodiversity conservation and sustainable use and to help meet the 2011-20 Aichi Biodiversity Targets.
Download or read book The Handbook of Financing Growth written by Kenneth H. Marks and published by John Wiley & Sons. This book was released on 2009-09-08 with total page 676 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Second Edition of The Handbook of Financing Growth has been designed to help leaders and advisors gain a solid understanding of the financing strategies, sources, and transactions that will allow them to excel in such an unpredictable environment. Written by an experienced group of practitioners who operate within this dynamic market—and fully updated to reflect new market realities—this reliable resource outlines the full spectrum of funding alternatives currently available to emerging growth and middle-market companies and presents the practical strategies and techniques you need to be aware of when considering the capitalization, growth, or sale of your, or your client's, company. New material found in this Second Edition includes detailed discussions of positioning a business for value creation before the transaction and how your financing strategy fits into the overall plan for growing and raising capital as well as creating an exit. Among various techniques, the authors address buyouts and recapitalizations as two alternatives to create shareholder liquidity and potentially finance future growth. A new chapter on M&A addresses the acquisition process and how to fund acquisitions and external growth initiatives, while additional case studies highlight bank financing alternatives and growth equity.
Download or read book Green Growth That Works written by Lisa Ann Mandle and published by Island Press. This book was released on 2019-09-12 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rapid economic development has been a boon to human well-being. It has lifted millions out of poverty, raised standards of living, and increased life expectancies. But economic development comes at a significant cost to natural capital—the fertile soils, forests, coastal marshes, farmland—that support all life on earth, including our own. The dilemma of our times is to figure out how to improve the human condition without destroying nature’s. If ecosystems collapse, so eventually will human civilization. One answer is inclusive green growth—the efficient use of natural resources. Inclusive green growth minimizes pollution and strengthens communities against natural disasters while reducing poverty through improved access to health, education, and services. Its genius lies in working with nature rather than against it. Green Growth That Works is the first practical guide to bring together pragmatic finance and policy tools that can make investment in natural capital both attractive and commonplace. The authors present six mechanisms that demonstrate a range of approaches used around the globe to conserve and restore earth’s myriad ecosystems, including: Government subsidies Regulatory-driven mitigation Voluntary conservation Water funds Market-based transactions Bilateral and multilateral payments Through a series of real-world case studies, the book addresses questions such as: How can we channel economic incentives to make conservation and restoration desirable? What approaches have worked best? How can governments, businesses, NGOs, and individuals work together successfully? Pioneered by leading scholars from the Natural Capital Project, this valuable compendium of proven techniques can guide agencies and organizations eager to make green growth work anywhere in the world.
Download or read book Mechanisms for Financing Economic Growth and Development written by United States. Congress. House. Committee on the Budget. Task Force on Community Development and Natural Resources and published by . This book was released on 1991 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book OECD Sovereign Borrowing Outlook 2021 written by OECD and published by OECD Publishing. This book was released on 2021-05-20 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edition of the OECD Sovereign Borrowing Outlook reviews developments in response to the COVID-19 pandemic for government borrowing needs, funding conditions and funding strategies in the OECD area.
Download or read book Finance Firm Size and Growth written by Thorsten Beck and published by . This book was released on 2010 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines whether financial development boosts the growth of small firms more than large firms and hence provides information on the mechanisms through which financial development fosters aggregate economic growth. We define an industry's technological firm size as the firm size implied by industry specific production technologies, including capital intensities and scale economies. Using cross-industry, cross-country data, the results indicate that financial development exerts a disproportionately large effect on the growth of industries that are technologically more dependent on small firms. This suggests that financial development accelerates economic growth by removing growth constraints on small firms and also implies that financial development has sectoral as well as aggregate growth ramifications.
Download or read book Global Health and the Future Role of the United States written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2017-10-05 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: While much progress has been made on achieving the Millenium Development Goals over the last decade, the number and complexity of global health challenges has persisted. Growing forces for globalization have increased the interconnectedness of the world and our interdependency on other countries, economies, and cultures. Monumental growth in international travel and trade have brought improved access to goods and services for many, but also carry ongoing and ever-present threats of zoonotic spillover and infectious disease outbreaks that threaten all. Global Health and the Future Role of the United States identifies global health priorities in light of current and emerging world threats. This report assesses the current global health landscape and how challenges, actions, and players have evolved over the last decade across a wide range of issues, and provides recommendations on how to increase responsiveness, coordination, and efficiency â€" both within the U.S. government and across the global health field.
Download or read book New Firm Formation and Industry Growth written by Thorsten Beck and published by . This book was released on 2016 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Do industries that depend heavily on external finance grow faster in market-based or bank-based financial systems? Are new firms more likely to form in a bank-based or a market-based financial system? Beck and Levine find no evidence for the superiority of either market-based or bank-based financial systems for industries dependent on external financing. But they find overwhelming evidence that industries heavily dependent on external finance grow faster in economies with higher levels of financial development and with better legal protection for outside investors - including strong creditor and shareholder rights and strong contract enforcement mechanisms.Financial development also stimulates the establishment of new firms, which is consistent with the Schumpeterian view of creative destruction. Financial development matters. That the financial system is bank-based or market-based offers little additional information.This paper - a product of the Financial Sector Strategy and Policy Department - is part of a larger effort in the department to understand the link between financial development and economic growth.
