Download or read book Trade Shocks Credit Reallocation and the Role of Specialisation written by Isabella Müller and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides evidence that banks cut lending to US borrowers as a consequence of a trade shock. This adverse reaction is stronger for banks with higher ex-ante lending to US industries hit by the trade shock. Importantly, I document large heterogeneity in banks' reaction depending on their sectoral specialisation. Banks shield industries in which they are specialised in and at the same time reduce the availability of credit to industries they are not specialised in. The latter is driven by low-capital banks and lending to firms that are themselves hit by the trade shock. Banks' adjustments have adverse real effects.
Download or read book Trade Shocks and Credit Reallocation written by and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Trade Shocks and Credit Reallocation written by Stefano Federico and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper identifies a credit-supply contraction that arises endogenously after trade liberalization. Banks with loan portfolios concentrated in sectors exposed to competition from China face an increase in non-performing loans after China's entry into the World Trade Organization. As a result, they reduce the supply of credit to firms, irrespective of the firm's sector of operation. This cut in credit translates into lower employment, investment, and output. Through this mechanism, the financial channel amplifies the shock to firms already hit by import competition from China and passes it on to firms in sectors expected to expand upon trade liberalization.
Download or read book Changing Patterns of Global Trade written by Nagwa Riad and published by International Monetary Fund. This book was released on 2012-01-09 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt: Changing Patterns of Global Trade outlines the factors underlying important shifts in global trade that have occurred in recent decades. The emergence of global supply chains and their increasing role in trade patterns allowed emerging market economies to boost their inputs in high-technology exports and is associated with increased trade interconnectedness.The analysis points to one important trend taking place over the last decade: the emergence of China as a major systemically important trading hub, reflecting not only the size of trade but also the increase in number of its significant trading partners.
Download or read book World Development Report 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-19 with total page 511 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global value chains (GVCs) powered the surge of international trade after 1990 and now account for almost half of all trade. This shift enabled an unprecedented economic convergence: poor countries grew rapidly and began to catch up with richer countries. Since the 2008 global financial crisis, however, the growth of trade has been sluggish and the expansion of GVCs has stalled. Meanwhile, serious threats have emerged to the model of trade-led growth. New technologies could draw production closer to the consumer and reduce the demand for labor. And trade conflicts among large countries could lead to a retrenchment or a segmentation of GVCs. World Development Report 2020: Trading for Development in the Age of Global Value Chains examines whether there is still a path to development through GVCs and trade. It concludes that technological change is, at this stage, more a boon than a curse. GVCs can continue to boost growth, create better jobs, and reduce poverty provided that developing countries implement deeper reforms to promote GVC participation; industrial countries pursue open, predictable policies; and all countries revive multilateral cooperation.
Download or read book International Differences in Entrepreneurship written by Josh Lerner and published by University of Chicago Press. This book was released on 2010-06-15 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: Often considered one of the major forces behind economic growth and development, the entrepreneurial firm can accelerate the speed of innovation and dissemination of new technologies, thus increasing a country's competitive edge in the global market. As a result, cultivating a strong culture of entrepreneurial thinking has become a primary goal throughout the world. Surprisingly, there has been little systematic research or comparative analysis to show how the growth of entrepreneurship differs among countries in various stages of development. International Differences in Entrepreneurship fills this void by explaining how a country's institutional differences, cultural considerations, and personal characteristics can affect the role that entrepreneurs play in its economy. Developing an understanding of the origins of entrepreneurs as well as the choices they make and the complexity of their activities across countries and industries are of central importance to this volume. In addition, contributors consider how environmental factors of individual economies, such as market regulation, government subsidies for banks, and support for entrepreneurial culture affect the industry and the impact that entrepreneurs have on growth in developing nations.
Download or read book Understanding the Securitization of Subprime Mortgage Credit written by Adam B. Ashcraft and published by Now Publishers Inc. This book was released on 2008 with total page 133 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding the Securitization of Subprime Mortgage Credit provides an overview of the subprime mortgage market and some of the key players, and provides an extensive discussion of the important role played by the credit rating agencies.
Download or read book Banking and Trading written by Mr.Arnoud W.A. Boot and published by International Monetary Fund. This book was released on 2012-10-02 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the effects of a bank's engagement in trading. Traditional banking is relationship-based: not scalable, long-term oriented, with high implicit capital, and low risk (thanks to the law of large numbers). Trading is transactions-based: scalable, shortterm, capital constrained, and with the ability to generate risk from concentrated positions. When a bank engages in trading, it can use its ‘spare’ capital to profitablity expand the scale of trading. However, there are two inefficiencies. A bank may allocate too much capital to trading ex-post, compromising the incentives to build relationships ex-ante. And a bank may use trading for risk-shifting. Financial development augments the scalability of trading, which initially benefits conglomeration, but beyond some point inefficiencies dominate. The deepending of the financial markets in recent decades leads trading in banks to become increasingly risky, so that problems in managing and regulating trading in banks will persist for the foreseeable future. The analysis has implications for capital regulation, subsidiarization, and scope and scale restrictions in banking.
Download or read book Policy Priorities for International Trade and Jobs written by OECD and published by OECD Publishing. This book was released on 2012-05-23 with total page 450 pages. Available in PDF, EPUB and Kindle. Book excerpt: Launched and co-ordinated by the OECD, the International Collaborative Initiative on Trade and Employment (ICITE) is a two-year old joint undertaking of ten international organisations. This book brings together some of the results of ICITE's research.
Download or read book Trade and Employment written by Marion Jansen and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 China s Entry to the WTO written by Peter Drysdale and published by Psychology Press. This book was released on 2000 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume provides a detailed up-to-date analysis of the strategic issues and policy options of China's accession to the WTO. Quantitative analysis demonstrates how tariff reduction resulting from China's accession to the WTO will benefit the Chinese economy as well as the rest of the world. The book argues that there is no single trade policy initiative likely to result in larger gains in international trade in the foreseeable future than China's accession to the WTO.
Download or read book Trade Infrastructure and Economic Development written by David Olusanya Ajakaiye and published by Routledge. This book was released on 2012-03-12 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is growing consensus in the literature that trade and trade policy matter for a pro-poor growth and development strategy. Therefore, policies that are consistent with this strategy feature increasingly in many African countries where poverty is endemic and rapid and where sustainable economic growth is viewed as the major vehicle for poverty reduction. Key elements of these polices include measures that promote the expansion and diversification of production and trade in Africa. This book is aimed at articulating appropriate structural and policy measures for eliminating the constraints that African countries face and thus ensuring that they can derive maximum benefits from all available market access opportunities. There is evidence that most African countries face external market access barriers in their major export destinations which are generally less constraining than those confronting countries in other developing country regions. Yet, they have generally not been able to take full advantage of the special (preferential) market access opportunities available to them. This suggests that improved external market access, whether reciprocal or preferential, would not, by itself, be sufficient for strengthening African export performance. In this collection, export supply response capacity takes external (beyond-the-border) factors as given and concentrates primarily on the internal (behind-the-border) factors that influence production and distribution costs and, thus, competitiveness. The central working hypothesis of this book is that the inability of domestic producers and exporters in Africa to respond quickly, effectively and efficiently to external market access opportunities is caused by various limitations of their internal supply capacity and that this, in turn, is largely responsible for the lacklustre export performance of many African countries. This comprehensive study should be of interest to students and researchers of international trade and development economics as well as African studies.
Download or read book Measuring and Analyzing the Impact of GVCs on Economic Development written by World Trade Organization and published by World Trade Organization. This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report is about a huge contribution to our deepening understanding of what the global economy really means and how it is changing. The report helpfully distinguishes elements of an economy that are tradable and the large set that are non-tradable. Clearly the tradables set is expanding with the support of enabling technology. The report argues that connectivity in the networks that define the evolving architecture of GVCs is important. This Global Value Chain Development Report is the result of intensive and detailed work in assembling and analyzing data on the structure of economies and on how they are linked. It creates a much clearer picture of evolving patterns of independence. It also presents a much clearer picture of comparative advantage. --Publisher description.
Download or read book Research and Experimental Source Allocation Rules written by United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight and published by . This book was released on 1984 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Liberalization Financial Instability and Economic Development written by Yılmaz Akyüz and published by Anthem Press. This book was released on 2014-05-01 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: Weighing up the costs and benefits of economic interdependence in a finance-driven world, this book argues that globalization, understood and promoted as absolute freedom for all forms of capital, has been oversold to the Global South, and that the South should be as selective about globalization as the North. ‘Liberalization, Financial Instability and Economic Development’ challenges the orthodoxy on the link between financial deepening and economic growth, as well as that between the efficiency of financial markets and the benefits of liberalization. Ultimately, the author urges developing countries to control capital flows and asset bubbles, preventing financial fragility and crises, and recommends regional policy options for managing capital flows and exchange rates.
Download or read book Global Shock Risks and Asian Financial Reform written by Iwan J. Azis and published by Edward Elgar Publishing. This book was released on 2014-12-31 with total page 750 pages. Available in PDF, EPUB and Kindle. Book excerpt: The growth of financial markets has clearly outpaced the development of financial market regulations. With growing complexity in the world of finance, and the resultant higher frequency of financial crises, all eyes have shifted toward the current inad
