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Equity Markets Transaction Costs And Capital Accumulation An Illustration
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Book Synopsis Equity Markets, Transaction Costs, and Capital Accumulation by : Valerie R. Bencivenga
Download or read book Equity Markets, Transaction Costs, and Capital Accumulation written by Valerie R. Bencivenga and published by World Bank Publications. This book was released on 1995 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Equity Markets, Transaction Costs, and Capital Accumulation: An Illustration by : R. Valerie Bencivenga
Download or read book Equity Markets, Transaction Costs, and Capital Accumulation: An Illustration written by R. Valerie Bencivenga and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: May 1995 How does an economy's efficiency in financial transactions affect its efficiency in physical production? And how does the volume of financial transactions relate to the level of real activity? There is a close, if imperfect, relationship between the effectiveness of an economy's capital markets and its level (or rate of growth) of real development. This may be because financial markets provide liquidity, promote the sharing of information, or permit agents to specialize. There is literature about how these functions help increase real activity, but surprisingly little literature predicting how the volume of activity in financial markets relates to the level or efficiency of an economy's productive activity. Bencivenga, Smith, and Starr address this question: How does the efficiency of an economy's equity market -- as measured by transaction costs -- affect its efficiency in producing physical capital and, through this channel, final goods and services? The answer: As the efficiency of an economy's capital markets increases (that is, as the transaction costs fall), the general effect is to cause agents to make longer-term -- hence, more transaction-intensive -- investments. The result is a higher rate of return on savings and a change in its composition. These general equilibrium effects on the composition of savings cause agents to hold more of their wealth in the form of existing equity claims and to invest less in the initiation of new capital investments. As a result, a reduction in transaction costs can cause the capital stock either to rise or fall (under scenarios described in the paper). Further, a reduction in transaction costs will typically alter the composition of savings and investment, and any analysis of the consequences of such changes must take those effects into account. This paper -- a product of the Finance and Private Sector Development Division, Policy Research Department -- was prepared for a World Bank Conference on Stock Markets, Corporate Finance, and Economic Growth. The study was funded by the Bank's Research Support Budget under the research project Stock Market Development and Financial Intermediary Growth (RPO 679-53).
Book Synopsis Liquidity, Markets and Trading in Action by : Deniz Ozenbas
Download or read book Liquidity, Markets and Trading in Action written by Deniz Ozenbas and published by Springer Nature. This book was released on 2022 with total page 111 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book addresses four standard business school subjects: microeconomics, macroeconomics, finance and information systems as they relate to trading, liquidity, and market structure. It provides a detailed examination of the impact of trading costs and other impediments of trading that the authors call rictions It also presents an interactive simulation model of equity market trading, TraderEx, that enables students to implement trading decisions in different market scenarios and structures. Addressing these topics shines a bright light on how a real-world financial market operates, and the simulation provides students with an experiential learning opportunity that is informative and fun. Each of the chapters is designed so that it can be used as a stand-alone module in an existing economics, finance, or information science course. Instructor resources such as discussion questions, Powerpoint slides and TraderEx exercises are available online.
Book Synopsis Cities Without Land Markets by : Alain Bertaud
Download or read book Cities Without Land Markets written by Alain Bertaud and published by World Bank Publications. This book was released on 1995 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Issues in Monetary, Financial and Macroeconomic Adjustment Policies by : Stuart Sayer
Download or read book Issues in Monetary, Financial and Macroeconomic Adjustment Policies written by Stuart Sayer and published by John Wiley & Sons. This book was released on 2005-02-11 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of survey articles sheds light on crucial questions in the field of monetary, financial and macroeconomic policy. Applies rigorous economic theory and empirical analysis to important practical policy issues. Considers the role of the financial sector in economic development. Looks at why financial crises occur and how they can be avoided. Discusses the relationship between macroeconomic adjustment and poverty. Asks if low-inflation rate regimes are at risk from the ‘zero bound’ to nominal interest rates. Provides accessible overviews of recent research into these questions.
Book Synopsis Economic Freedom: Lessons Of Hong Kong by : Kui-wai Li
Download or read book Economic Freedom: Lessons Of Hong Kong written by Kui-wai Li and published by World Scientific Publishing Company. This book was released on 2012-07-03 with total page 802 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hong Kong has been one of the fastest growing East Asian economies since the end of the Second World War. The adoption and practice of economic freedom have been major pillars in its economic success. Indeed, the experience of Hong Kong has served as a reference for other emerging economies in the region. The scope of the book elaborates the context and ingredients of economic freedom that have brought success and prosperity to Hong Kong. With sovereignty reversion to China in 1997, it is even more relevant to see how economic freedom is shaping and adapting to the new environment.There exist a number of economic indices based on economic freedom. Hong Kong has been ranked as the freest economy in the world for a number of consecutive years. While the economic freedom indices compare the performance of a large number of word economies, there is a lack of economic literature that studies the absolute level of economic freedom of a single economy. This book boldly serves the purpose of elaborating on the absolute performance of economic freedom in the world's freest economy. It is, therefore, the first of its kind and unique in its field. Numerous areas of studies related to economic freedom are examined, studied and elaborated so that readers can have a full and comprehensive understanding of the content of economic freedom in Hong Kong.
Download or read book Focus on Capital written by Kenroy Dowers and published by IDB. This book was released on 2003 with total page 572 pages. Available in PDF, EPUB and Kindle. Book excerpt: Local capital market development responds to the need to reduce the risk of financial crises that result from an excessive reliance on external borrowing -- for example, to avoid foreign exchange risk, reduce contagion, and decrease short-term external borrowing. In fact, as financial crises dwarf the role of financial intermediation, the problems of asymmetric information become even more severe, leading to greater public mistrust of financial institutions. The contributors in Focus on Capital tackle various aspects of developing Latin American capital markets. Macroeconomic and structural policies, accounting practices and standards, bond market development, market infrastructure, derivatives markets, corporate governance, ethics, human capital, and regional integration all play a role. One of the shortcomings of many strategies for capital market development -- more important than getting the sequencing wrong -- is failing to understand the links between the various components and the need for an overall strategy as well as plans for each component. Focus on Capital analyzes the status of the markets in Latin America and identifies the technical, political, and financial challenges to building vibrant capital markets and increasing the efficiency benefits of regional economic and financial integration.
Book Synopsis Cutting-Edge Technologies for Business Sectors by : Ertu?rul, Duygu Çelik
Download or read book Cutting-Edge Technologies for Business Sectors written by Ertu?rul, Duygu Çelik and published by IGI Global. This book was released on 2024-10-17 with total page 586 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the rapidly evolving 21st century, emerging digital technologies are transforming every aspect of modern life, from social interactions to business practices. These advancements are reshaping industries, influencing human behavior, and redefining societal structures. Understanding the impact of technologies like AI, blockchain, and virtual reality is crucial for navigating today's digital world and its challenges. Cutting-Edge Technologies for Business Sectors provides a comprehensive look at how these innovations are revolutionizing industries such as healthcare, education, law, and tourism. By exploring the ethical, practical, and societal implications of digital tools, this volume offers valuable insights for academics, professionals, and policymakers looking to harness the power of technology and shape the future.
Author :Constantin Zopounidis Publisher :Springer Science & Business Media ISBN 13 :147572845X Total Pages :520 pages Book Rating :4.4/5 (757 download)
Book Synopsis Managing in Uncertainty: Theory and Practice by : Constantin Zopounidis
Download or read book Managing in Uncertainty: Theory and Practice written by Constantin Zopounidis and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a new point of view on the subject of the management of uncertainty. It covers a wide variety of both theoretical and practical issues involving the analysis and management of uncertainty in the fields of finance, management and marketing. Audience: Researchers and professionals from operations research, management science and economics.
Book Synopsis Development Policy in the Twenty-First Century by : Ben Fine
Download or read book Development Policy in the Twenty-First Century written by Ben Fine and published by Taylor & Francis. This book was released on 2023-05-09 with total page 229 pages. Available in PDF, EPUB and Kindle. Book excerpt: This excellent book, newly available in paperback, addresses the growing dissatisfaction with the neo-liberal post-Washington consensus. The concern of the contributors in writing this collection was that this consensus has established itself as a new orthodoxy, more powerful and widespread than its predecessor. This broad-ranging critique explains that without a much broader political economy the consensus is unlikely to provide a coherent framework for successful development policies. Development Policy in the 21st Century is unique in its depth and assesses the postures of the new consensus topic by topic, whilst posing strong alternatives. It will improve and stimulate the reader's understanding of this important area, and is required reading for any student, academic or interested reader that wishes to understand one of the most important issues in international economics.
Download or read book Explaining Growth written by G. McMahon and published by Springer. This book was released on 2003-08-19 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explaining Growth attempts to compile the most comprehensive assessment of growth in developing and transition countries. The first phase has sought to review and discover broad similarities and comparable experiences in six regions spanning the developing world. In each region, studies were undertaken on sources of growth, markets and growth, microeconomic determinants of growth, and the political economy of growth. These reviews provide the framework for the in-depth country case studies in Phase II. This volume summarizes the main results of the regional analyses and sets the stage for the country studies.
Book Synopsis Advances in Cross-Section Data Methods in Applied Economic Research by : Nicholas Tsounis
Download or read book Advances in Cross-Section Data Methods in Applied Economic Research written by Nicholas Tsounis and published by Springer Nature. This book was released on 2020-02-24 with total page 720 pages. Available in PDF, EPUB and Kindle. Book excerpt: This proceedings volume presents new methods and applications in applied economics with special interest in advanced cross-section data estimation methodology. Featuring select contributions from the 2019 International Conference on Applied Economics (ICOAE 2019) held in Milan, Italy, this book explores areas such as applied macroeconomics, applied microeconomics, applied financial economics, applied international economics, applied agricultural economics, applied marketing and applied managerial economics. International Conference on Applied Economics (ICOAE) is an annual conference that started in 2008, designed to bring together economists from different fields of applied economic research, in order to share methods and ideas. Applied economics is a rapidly growing field of economics that combines economic theory with econometrics, to analyze economic problems of the real world, usually with economic policy interest. In addition, there is growing interest in the field of applied economics for cross-section data estimation methods, tests and techniques. This volume makes a contribution in the field of applied economic research by presenting the most current research. Featuring country specific studies, this book is of interest to academics, students, researchers, practitioners, and policy makers in applied economics, econometrics and economic policy.
Book Synopsis The Welfare State in Europe by : Marco Buti
Download or read book The Welfare State in Europe written by Marco Buti and published by Edward Elgar Publishing. This book was released on 1999-11-25 with total page 502 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an analyis of the main problems in the functioning of the welfare state and possible actions for its reform. Focusing on the European Union, it looks at the achievements and challenges to the welfare state as we enter the 21st century.
Book Synopsis Efficiency and Equity Considerations in Pricing and Allocating Irrigation Water by : Yacov Tsur
Download or read book Efficiency and Equity Considerations in Pricing and Allocating Irrigation Water written by Yacov Tsur and published by World Bank Publications. This book was released on with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Rural Nonfarm Employment by : Jean Olson Lanjouw
Download or read book Rural Nonfarm Employment written by Jean Olson Lanjouw and published by World Bank Publications. This book was released on 1995 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Fiscal and Monetary Contraction in Chile by : Klaus Schmidt-Hebbel
Download or read book Fiscal and Monetary Contraction in Chile written by Klaus Schmidt-Hebbel and published by World Bank Publications. This book was released on 1995 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Government's Role in Pakistan Agriculture by : Rashid Faruqee
Download or read book Government's Role in Pakistan Agriculture written by Rashid Faruqee and published by World Bank Publications. This book was released on 1995 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
