Download or read book Investment Credit Rationing and the Soft Budget Constraint Evidence from Czech Panel Data written by Lubomir Lizal and Jan Svcjnar and published by . This book was released on 2001 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Investment Credit Rationing and the Soft Budget Constraint written by Lubomír Lízal and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Missing Link Between Financial Constraints and Productivity written by Marialuz Moreno Badia and published by International Monetary Fund. This book was released on 2009-04-01 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global financial crisis has reopened the debate on the potential spillover effects from the financial sector to the real economy. This paper adds to that debate by providing new evidence on the link between finance and firm-level productivity, focusing on the case of Estonia. We contribute to the literature in two important respects: (i) we look explicitly at the role of financial constraints; and (ii) we develop a methodology that corrects for the misspecification problems of previous studies. Our results indicate that young and highly indebted firms tend to be more financially constrained. Overall, a large number of firms shows some degree of financial constraints, with firms in the primary sector being the most constrained. More importantly, we find that financial constraints do not lower productivity for most sectors.
Download or read book Transition and Beyond written by S. Estrin and published by Springer. This book was released on 2007-08-10 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book covers a wide variety of aspects of transition in Central and Southeast Europe and the CIS, including the socialist legacy, privatization and growth, skills, and banking reforms. It also covers the evolution of the global economy beyond transition, looking at complexity, risk management, the optimal transition path, and globalization.
Download or read book Financial Market Imperfections and Corporate Decisions written by Emilio Colombo and published by Springer Science & Business Media. This book was released on 2006-01-27 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: We would like to thank Akos Valentinyi and Mark Schaffer for their advice on various stages of this research project. We also would like to thank our col leagues at the Department of Economics of the University of Milan - Bicocca for their advice and support. This book is the result of a long term project financed by various research grants: in particular the Phare-Ace programme (Project P-96-6151-R) and a research grant from the Italian Ministry of Education under the young researchers scheme. Milan, March 2005 Emilio Colombo Luca Stanca Contents Introduction 1 Financial market imperfections and corporate decisions: theory and evidence 7 2. 1 Introduction 7 2. 2 Financial market imperfections, investment and cycles 9 2. 2. 1 The Stiglitz view 9 2. 2. 2 Agency costs and macroeconomic fluctuations 15 2. 2. 3 Assessing the differences 18 2. 2. 4 Further developments 20 2. 2. 5 Empirical evidence 22 2. 3 Financial market imperfections and corporate capital structure 24 2. 3. 1 Asymmetric information and capital structure choice . . 25 2. 3. 2 Agency costs and capital structure choice 30 2. 3. 3 Empirical evidence 32 The transformation of the Hungarian financial system 35 3. 1 Introduction 35 3. 2 Macroeconomic background 36 3. 3 Liberalisation, privatisation and financial development 44 3. 3. 1 Banking and credit 45 3. 3. 2 Equity market 48 3. 3. 3 Foreign direct investment 49 3. 4 Financial sector reform 50 3. 4.
Download or read book The Financial Economics of Privatization written by William L. Megginson and published by Oxford University Press. This book was released on 2005-01-13 with total page 533 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since 1981, over 100 governments around the world have raised over $1 trillion through the sale of SOEs to private investors. Privatization programs have transformed the role of the state in virtually all-major economies, and have massively increased the capitalization and liquidity of all non-U.S. stock markets. The focus of this book lies on where privatization stands today and what are the next frontiers, the why and how behind countries who privatize certain industries, whether privatization works as an economic tool and important insights relevant to financial institutions such as how to value privatized industries, how share offerings differ from private offerings, and how countries go about harnessing private capital. The book will also represent a key and unique source for information related to the details of asset sales privatization, a summary of statistics of privatized companies from 54 international stock exchanges, regulatory changes and sources for privatization information for investors, government officials, bankers and financial specialists. The volume will serve as an invaluable reference for professionals and as a core or supplementary text in privatization courses.
Download or read book Understanding Market Reforms written by J. Fanelli and published by Springer. This book was released on 2006-10-27 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: There has been a widespread move toward more market-oriented policies and institutions across the developing and former socialist countries. 31 country studies were undertaken to try to understand the divergent results of these reforms. This book presents the findings of these studies, synthesized on a regional and global basis.
Download or read book Essays on the Soft Budget Constraint written by Sunghwan Kim and published by . This book was released on 2003 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Privatization written by Gérard Roland and published by Columbia University Press. This book was released on 2008 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: The privatization of large state-owned enterprises is one of the most radical policy developments of the last quarter century. Right-wing governments have privatized in an effort to decrease the size of government, while left-wing governments have privatized either to compensate for the failures of state-owned firms or to generate revenues. In this way, privatization has spread from Europe to Latin America, from Asia to Africa, reaching its zenith with Central and Eastern Europe's transition from socialism to capitalism. In many countries state ownership has been an important tool in bringing cheap water, energy, and transport to poorer segments of the population. In other instances, it has sponsored aggressive cutbacks, corruption, and cronyism. Privatization: Successes and Failures evaluates the practices and results of privatization in Eastern Europe, Africa, Latin America, and Asia. Featuring the world's leading economists and experts on privatization, this volume offers a broad and balanced analysis of specific privatization projects and uncovers some surprising trends. Partial privatization, for example, tends to be more widespread than one might think, and the effects of privatization on efficiency are generally mixed but rarely negative. Also, while privatization appears uncontroversial in competitive sectors, it becomes increasingly complex in more monopolistic sectors where good regulation is crucial. Privatization concludes with alternative frameworks for countries in Africa and other regions that seek to develop privatization policy and programs.
Download or read book New Perspectives on the Bank Firm Relationship written by Paola Ferretti and published by Springer. This book was released on 2016-11-14 with total page 189 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyses the connections between the banking industry in Europe and the companies it finances. Ferretti specifically studies how these bonds have evolved over time and questions whether now is the time for a change in the relationship’s dynamics. Chapters discuss the role of bank lending in firms’ financing during the recent financial crisis, as well as issues in credit risk management. The discussion also examines regulatory requirements impacting banks and firms (Basel III) and how they intersect with banks’ internal purposes. Moreover, the book explores how the financial crisis has impacted the relationship between banks and businesses, and seeks to identify the strengths and weaknesses inherent to it. Through this timely discussion, Ferretti looks to the future of the relationship between banks and non-financial organizations to see how they can be revitalised, adapted and reimagined in a post-crisis economy.
Download or read book From Socialism to Capitalism written by J nos Kornai and published by Central European University Press. This book was released on 2008-01-01 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: The subjects common to the eight studies in this book are socialism, capitalism, democracy, and change of system. The studies are arranged according to the course of history. The starting point is the "classical", pre-reform socialist system (study 1). Then come the discussions about reforms that remain within the socialist system (studies 2 and 3). The second half of the book concerns the subject of the change of system (studies 4-7).
Download or read book Economic Convergence and Divergence in Europe written by Gertrude Tumpel-Gugerell and published by Edward Elgar Publishing. This book was released on 2003-01-01 with total page 498 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recoge : 1. Introductory session. - 2. Past convergence within the European Union. - 3. Accesion countries : achievements in real convergence. - 4. Accesion countries : how to balance real and nominal convergence challenges for monetary and exchange rate policy. - 5. Does the financial sector contribute to real growth? - 6. Is there somebody left out in the cold? prospects of CEE countries other than current accesion countries. - 7. Policy challenges within the (enlarged) EU : how to foster economic convergence?
Download or read book Financial Entrepreneurship for Economic Growth in Emerging Nations written by Woldie, Atsede and published by IGI Global. This book was released on 2017-07-13 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: Entrepreneurial endeavors are a pivotal driving force behind the modern business sector. These enterprises play a significant role in the development and sustainability of a nation’s economy. Financial Entrepreneurship for Economic Growth in Emerging Nations is an innovative reference source for the latest scholarly research on strategies and techniques for financing small and medium-sized enterprises in the context of developing nations. Including a range of pertinent topics such as microinsurance, risk management, and advertising, this book is ideal for managers, academics, professionals, graduate students, and practitioners interested in the dynamics of financial entrepreneurship.
Download or read book Estonia the New EU Economy written by Helena Hannula and published by Ashgate Publishing, Ltd.. This book was released on 2006 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: Estonia is regarded by many as one of the most hopeful cases for the integration of eastern Europe into the enlarged European Union. It provides positive examples of how the integration process can be well handled, but at the same time some of the contentious issues this can give rise to. This book assesses the tensions involved in the development of the Estonian economy in terms of growth, convergence, financial development, labour reallocation, structural and organizational change, and the role of foreign companies and international networks. The analysis of Estonia is placed within a broader context and among a wider set of nations, and thus aims at understanding the potential for growth and structural change in the eastern part of the enlarged EU. In these and related fields, the book seeks to draw lessons from Estonia for other new (and indeed future) EU accession countries.
Download or read book The Dynamics of Entrepreneurship written by Maria Minniti and published by OUP Oxford. This book was released on 2013-02-14 with total page 347 pages. Available in PDF, EPUB and Kindle. Book excerpt: Learning about entrepreneurship has major implications for the way we understand economic change and progress. At a time when governments all over the world look to entrepreneurship as a way to increase the wealth and well-being of their countries, The Dynamics of Entrepreneurship examines the causes of differences in entrepreneurial propensity between individuals, the factors that explain variations in the type and quantity of entrepreneurship at the aggregate level, and the macroeconomic implications of entrepreneurship. Using Global Entrepreneurship Monitor (GEM) data, the book brings together contributions from leading scholars to provide a comprehensive overview of current scholarship on entrepreneurial activity. Discussed topics include entrepreneurial motivation, gender and migration, entrepreneurial financing, urban entrepreneurship, growth-oriented entrepreneurship, economic growth, and regional entrepreneurship policies. The book concludes by summarizing its contribution to existing literature, with particular attention paid to the policy implications and the ongoing debate on entrepreneurship.
Download or read book Institutions and Comparative Economic Development written by M. Aoki and published by Springer. This book was released on 2016-04-30 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of essays from eminent scholars discusses different phases and measures of economic development, evaluating the success of national economic transitions and providing valuable policy lessons for developing economies.
Download or read book China s Great Economic Transformation written by Loren Brandt and published by Cambridge University Press. This book was released on 2008-04-14 with total page 887 pages. Available in PDF, EPUB and Kindle. Book excerpt: This landmark study provides an integrated analysis of China's unexpected economic boom of the past three decades. The authors combine deep China expertise with broad disciplinary knowledge to explain China's remarkable combination of high-speed growth and deeply flawed institutions. Their work exposes the mechanisms underpinning the origin and expansion of China's great boom. Penetrating studies track the rise of Chinese capabilities in manufacturing and in research and development. The editors probe both achievements and weaknesses across many sectors, including China's fiscal, legal, and financial institutions. The book shows how an intricate minuet combining China's political system with sectorial development, globalization, resource transfers across geographic and economic space, and partial system reform delivered an astonishing and unprecedented growth spurt.
