Financial Decisions And Investment Outcomes In Developing Countries

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Financial Decisions and Investment Outcomes in Developing Countries

Author : Rima Turk
Publisher : International Monetary Fund
ISBN 13 : 1484365062
Total Pages : 41 pages
Book Rating : 4.4/5 (843 download)

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Book Synopsis Financial Decisions and Investment Outcomes in Developing Countries by : Rima Turk

Download or read book Financial Decisions and Investment Outcomes in Developing Countries written by Rima Turk and published by International Monetary Fund. This book was released on 2015-02-25 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes how differences in legal origin, judicial efficiency, and investor protection affect firm leverage and earnings volatility across developing countries. Using a large number of developing countries, four main findings are highlighted. First, firms in civil legal origin countries rely more on debt financing compared to firms in common law countries, and they exhibit lower earnings volatility. Second, under weak judicial enforcement, firms tend to borrow more but they take less risk. Third, stronger creditor rights increase debt financing and reduce earnings volatility. Fourth, firm listing on a developed stock exchange shifts the capital structure towards more equity financing, and it increases the firm’s ability to borrow more when the judicial system is inefficient. The results reinforce the importance of strengthening laws and institutions as well as deepening capital markets in developing countries to improve financing conditions and investment outcomes.

Financial Decisions and Investment Outcomes in Developing Countries

Author : Rima Turk Ariss
Publisher :
ISBN 13 : 9781498331753
Total Pages : pages
Book Rating : 4.3/5 (317 download)

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Book Synopsis Financial Decisions and Investment Outcomes in Developing Countries by : Rima Turk Ariss

Download or read book Financial Decisions and Investment Outcomes in Developing Countries written by Rima Turk Ariss and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Adjustment Policies and Investment Performance in Developing Coutries

Author :
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4./5 ( download)

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Book Synopsis Adjustment Policies and Investment Performance in Developing Coutries by :

Download or read book Adjustment Policies and Investment Performance in Developing Coutries written by and published by World Bank Publications. This book was released on with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Empirical Investment Equations in Developing Countries

Author :
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 53 pages
Book Rating : 4./5 ( download)

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Book Synopsis Empirical Investment Equations in Developing Countries by :

Download or read book Empirical Investment Equations in Developing Countries written by and published by World Bank Publications. This book was released on with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Empirical Investment Equations in Developing Countries

Author : Rama Martín
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Empirical Investment Equations in Developing Countries by : Rama Martín

Download or read book Empirical Investment Equations in Developing Countries written by Rama Martín and published by . This book was released on 1990 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Fiscal Policy and Private Investment in Developing Countries

Author : Ajay Chhibber
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4./5 ( download)

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Book Synopsis Fiscal Policy and Private Investment in Developing Countries by : Ajay Chhibber

Download or read book Fiscal Policy and Private Investment in Developing Countries written by Ajay Chhibber and published by World Bank Publications. This book was released on 1990 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: The key to sustained recovery in developing countries is the revival of private investment. This revival requires a coordinated set of credible policies - fiscal, exchange rate, tax, and public expenditure restructuring. In several countries the debt overhang is also an obstacle to achieving that credibility.

Investing for Sustainable Development?

Author : Just Economics (Firm)
Publisher : IIED
ISBN 13 : 1843697211
Total Pages : 76 pages
Book Rating : 4.8/5 (436 download)

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Book Synopsis Investing for Sustainable Development? by : Just Economics (Firm)

Download or read book Investing for Sustainable Development? written by Just Economics (Firm) and published by IIED. This book was released on 2011 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: "How can investors be encouraged to consider more than purely commercial and short-term gains? Various sets of investment principles have emerged in recent years. These principles aim to incorporate social, environmental and governance criteria into investment decisions in order to enhance the benefits and reduce the damaging effects of investment for development. Increasing numbers of organisations are signing up to these principles for reasons that range from improving their reputation to minimising risks and improving long-term investment prospects. Yet their impact on sustainable development remains unproven. Focusing on four major sets of investment principles - the UN Principles for Responsible Investment (PRI), the Equator Principles, the Environmental and Social Principles of the European Investment Bank (EIB), and the OECD Declaration on International Investment and Multinational Enterprises - Investing for sustainable development? takes a first step in assessing the content, take-up, implementation and impact of investment principles. The study finds that the main impact of investment principles on sustainable development so far is mitigation of the worst effects of investments rather than a shift in the underlying basis of decision-making. Investors are generally unwilling to compromise high returns for improved sustainable development outcomes. The authors call for better monitoring and measurement of the impact of investment principles, as well as a better understanding of the broader institutional changes required to support them so the next generation of investment principles can be more ambitious and bring about investment that supports, rather than undermines, sustainable development."--Publisher description.

Finance and Development

Author : Christopher J. Green
Publisher : Edward Elgar Publishing
ISBN 13 : 1845424603
Total Pages : 465 pages
Book Rating : 4.8/5 (454 download)

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Book Synopsis Finance and Development by : Christopher J. Green

Download or read book Finance and Development written by Christopher J. Green and published by Edward Elgar Publishing. This book was released on 2006-01-01 with total page 465 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this new book a group of 18 distinguished authors presents comprehensive surveys of current issues in the field of finance and development. . . This book nicely bridges the gap between general research on the role of finance for economic growth and the role finance plays for developing economies and poverty reduction. . . Moreover, the authors identify a great number of promising ideas for future research. . . Ryszard Kokoszczynski, SUERF Newsletter The European Money & Finance Forum In the last two decades, the role of finance in the development process has become a major topic of research and debate. Although it is widely agreed that there is an important link between the two, there is much less consensus on the exact nature of the relationship. Is financial development a prerequisite for general economic development, or is it a more passive by-product of the development process? In this valuable new book, a distinguished group of authors takes stock of the existing state of knowledge in the field of finance and the development process. Each chapter offers a comprehensive survey and synthesis of current issues. These include such critical subjects as savings, financial markets and the macroeconomy, stock market development, financial regulation, foreign investment and aid, financing livelihoods, microfinance, rural financial markets, small and medium enterprises, corporate finance and banking. This book will be accessible to postgraduate and advanced undergraduate students of finance and development. It will also be an essential reference source for all professionals and academics working in this area who want to learn how finance can contribute to the development process and poverty reduction.

The Investment Decision: A Re-Examination of Competing Theories Using Panel Data

Author : Cherian Samuel
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (913 download)

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Book Synopsis The Investment Decision: A Re-Examination of Competing Theories Using Panel Data by : Cherian Samuel

Download or read book The Investment Decision: A Re-Examination of Competing Theories Using Panel Data written by Cherian Samuel and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: September 1996 For firms, the single most important determinant of capital spending appears to be cash flow. Firm managers care more about cash flow and cost of capital than about stock market signals and level of output. In the United States, gross business investments in plant and equipment (fixed investments) constitute only about 10 percent of GNP, but such investments may represent GNP's most important component because (1) plant and equipment have a long-term effect on the economy's productive capacity, (2) changes in investment spending directly affect levels of employment and workers' incomes in durable goods industries, and (3) supply and demand are sensitive to changes in investment, which is the most volatile component of GNP. Economists have long been concerned about what - in the economy, the industry, and the firm - determines investments in capital spending. Using a panel of data for U.S. manufacturing firms for 1972-90, Samuel compares five theories of investment: accelerator theory, cash flow theory (liquidity model, managerial model, and information-theoretic model), neoclassical theory, modified neoclassical (Bischoff) theory, and Q theory. If the results from cross-section regressions can be viewed as representing the long-term equilibrium, the single most important determinant of capital spending appears to be cash flow. Apparently, managers care more about cash flow and cost of capital than about stock market signals and the level of output. And at the firm level, managerial perceptions about fundamentals are more important than market perceptions. For managers, the stock market may be a side show to capital spending decisions. To generalize in a way that might be useful for developing countries: Financial decisions at the firm level are closely linked to real decisions in the economy. Internal finance is the most important source of funds, and capital spending is the most important use of funds, so there is a close relationship betwen real and financial decisions. This paper - a product of the Operations Policy Group, Operations Policy Department - is part of a larger effort in the department to disseminate results of policy analysis. The author may be contacted at [email protected].

Financing For Development - Revisiting the Monterrey Consensus

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1498344445
Total Pages : 57 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Financing For Development - Revisiting the Monterrey Consensus by : International Monetary Fund

Download or read book Financing For Development - Revisiting the Monterrey Consensus written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-06-15 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: 2015 is set to be a pivotal year for the international development agenda, with agreements to be reached on the objectives and policies for promoting development that is economically, socially, and environmentally sustainable through 2030. The first stage in completing the debate on these issues is the Third UN Conference on Financing for Development (FfD), to be held in Addis Ababa during July 13–16, 2015, which aims to build an international consensus on the actions needed to ensure that sufficient financing is available for developing countries in pursuing sustainable development.

The Future of Development Financing

Author : F. Sagasti
Publisher : Springer
ISBN 13 : 0230505198
Total Pages : 255 pages
Book Rating : 4.2/5 (35 download)

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Book Synopsis The Future of Development Financing by : F. Sagasti

Download or read book The Future of Development Financing written by F. Sagasti and published by Springer. This book was released on 2005-06-14 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today's international development financing system seems like a collection of disjointed entities that often work at cross purposes without being able to mobilize enough finance for developing countries in their efforts to reduce poverty and improve living standards. This book brings together the vast array of new initiatives in financing mechanisms and proposals to transform the development finance architecture. Based on four different scenarios for the next ten-year period, proposals are made for how to reach an effective system.

Public Investment in Resource-Abundant Developing Countries

Author : Mr.Andrew Berg
Publisher : International Monetary Fund
ISBN 13 : 1475535562
Total Pages : 48 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Public Investment in Resource-Abundant Developing Countries by : Mr.Andrew Berg

Download or read book Public Investment in Resource-Abundant Developing Countries written by Mr.Andrew Berg and published by International Monetary Fund. This book was released on 2012-11-15 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Natural resource revenues provide a valuable source to finance public investment in developing countries, which frequently face borrowing constraints and tax revenue mobilization problems. This paper develops a dynamic stochastic small open economy model to analyze the macroeconomic effects of investing natural resource revenues, making explicit the role of pervasive features in these countries including public investment inefficiency, absorptive capacity constraints, Dutch disease, and financing needs to sustain capital. Revenue exhaustibility raises medium-term issues of how to sustain capital built during a windfall, while revenue volatility raises short-term concerns about macroeconomic instability. Using the model, country applications show how combining public investment with a resource fund---a sustainable investing approach---can help address the macroeconomic problems associated with both exhaustibility and volatility. The applications also demonstrate how the model can be used to determine the appropriate magnitude of the investment scaling-up (accounting for the financing needs to sustain capital) and the adequate size of a stabilization fund (buffer).

Financial Reform in Developing Countries

Author : José María Fanelli
Publisher : Springer
ISBN 13 : 1349268712
Total Pages : 384 pages
Book Rating : 4.3/5 (492 download)

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Book Synopsis Financial Reform in Developing Countries by : José María Fanelli

Download or read book Financial Reform in Developing Countries written by José María Fanelli and published by Springer. This book was released on 1998-11-12 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: For the large number of developing countries undergoing significant structural transformations, one of the most important and controversial adjustment areas is that of the financial markets. Focusing on the role of the institutional and enabling environment within which financial reform occurs and on the integration of principles of finance with more macroeconomic approaches to the subject, the book contains case studies of reform experiences in Argentina, India, Nigeria, Turkey and Uruguay. Themes studied include the 'go slow' versus 'big bang' approach and the particular problem of bank-firm inter-linkages in Eastern Europe.

Global Investment Competitiveness Report 2019/2020

Author : World Bank Group
Publisher : World Bank Publications
ISBN 13 : 1464815437
Total Pages : 321 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Global Investment Competitiveness Report 2019/2020 by : World Bank Group

Download or read book Global Investment Competitiveness Report 2019/2020 written by World Bank Group and published by World Bank Publications. This book was released on 2020-07-06 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Global Investment Competitiveness Report 2019-2020 provides novel analytical insights, empirical evidence, and actionable recommendations for governments seeking to enhance investor confidence in times of uncertainty. The report's findings and policy recommendations are organized around "3 ICs" - they provide guidance to governments on how to increase investments' contributions to their country's development, enhance investor confidence, and foster their economies' investment competitiveness. The report presents results of a new survey of more than 2,400 business executives representing FDI in 10 large developing countries: Brazil, China, India, Indonesia, Malaysia, Mexico, Nigeria, Thailand, Turkey, and Vietnam. The results show that over half of surveyed foreign businesses have already been adversely affected by policy uncertainty, experiencing a decrease in employment, firm productivity, or investment. Foreign investors report that supporting political environments, stable macroeconomic conditions, and conducive regulatory regimes are their top three investment decision factors. Moreover, the report's new global database of regulatory risk shows that predictability and transparency increase investor confidence and FDI flows. The report also assesses the impact of FD! on poverty, inequality, employment, and firm performance using evidence from various countries. It shows that FDI in developing countries yields benefits to their firms and citizens-including more and better-paid jobs-but governments need to be vigilant about possible adverse consequences on income distribution. The report is organized in S chapters: Chapter 1 presents the results of the foreign investor survey. Chapter 2 explores the differential performance and development impact of greenfield FDI, local firms acquired by multinational corporations {i.e. brownfield FDI), and domestically-owned firms using evidence from six countries. Chapter 3 assesses the impact of FDI on poverty, inequality, employment and wages, using case study evidence from Ethiopia, Turkey and Vietnam. Chapter 4 presents a new framework to measure FDI regulatory risk that is linked to specific legal and regulatory measures. Chapter S focuses on factors for increasing the effectiveness of investment promotion agencies.

The Politics of Finance in Developing Countries

Author : Stephan Haggard
Publisher : Cornell University Press
ISBN 13 : 1501744496
Total Pages : 351 pages
Book Rating : 4.5/5 (17 download)

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Book Synopsis The Politics of Finance in Developing Countries by : Stephan Haggard

Download or read book The Politics of Finance in Developing Countries written by Stephan Haggard and published by Cornell University Press. This book was released on 2019-05-15 with total page 351 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ten original essays examine the political and institutional factors that influence the initiation and efficiency of preferential credit policies in Korea, Taiwan, Thailand, Indonesia, the Philippines, Chile, Mexico, and Brazil.

Scenarios for Risk Management and Global Investment Strategies

Author : Rachel E. S. Ziemba
Publisher : John Wiley & Sons
ISBN 13 : 9780470518380
Total Pages : 334 pages
Book Rating : 4.5/5 (183 download)

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Book Synopsis Scenarios for Risk Management and Global Investment Strategies by : Rachel E. S. Ziemba

Download or read book Scenarios for Risk Management and Global Investment Strategies written by Rachel E. S. Ziemba and published by John Wiley & Sons. This book was released on 2008-07-31 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses scenarios for risk management and developing global investment strategies. What are the chances that various future events will occur over time and how should these events and probable occurrence influence investment decisions? Assessing all possible outcomes is fundamental to risk management, financial engineering and investment and hedge fund strategies. A careful consideration of future scenarios will lead to better investment decisions and avoid financial disasters. The book presents tools and case studies around the world for analyzing a wide variety of investment strategies, building scenarios to optimize returns.

Finance for the Developing Countries

Author : Richard L. Kitchen
Publisher :
ISBN 13 :
Total Pages : 392 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Finance for the Developing Countries by : Richard L. Kitchen

Download or read book Finance for the Developing Countries written by Richard L. Kitchen and published by . This book was released on 1986-10-28 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: The main theme of this book is the financing of economic development - the mobilization of finance and its current use. The book covers both domestic and international finance. It is both theoretical and empirical and contains historical perspectives and an analysis of current problems.