Local Financial Development Ad Firm Performance

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Local Financial Development Ad Firm Performance

Author : Fickry Widya Nugraha
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.:/5 (19 download)

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Book Synopsis Local Financial Development Ad Firm Performance by : Fickry Widya Nugraha

Download or read book Local Financial Development Ad Firm Performance written by Fickry Widya Nugraha and published by . This book was released on 2016 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This study attempt to examine wether firms performance is determined by local financial development across Indonesian provinces within 2010-2013. Combining data from the Indonesian survey of manufacturing firms within informations from regional-level data, the study empirically documented several key findings. First, there are no consistent results that local bank availability is robustly associated with faster growth for firms in sectors with growth opportunities. Second, access to the financial service appear to be closely connected with the level of economic development and turn out to be only significant in the western part of Indonesia. Furthermore, from the entry and exit analysis, this study find a significant impact of financial access for the case firm exit. Meanwhile for the case of firm entry, this study do not find any significant result. Taken these two empirical evidence together this result implies that the benefical of access to finance in manufacturing only appears when firms have already established in the sectors" [source : résumé].

Finance, Firm Size, and Growth

Author : Thorsten Beck
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4./5 ( download)

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Book Synopsis Finance, Firm Size, and Growth by : Thorsten Beck

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.

Finance and Growth

Author : Ross Levine
Publisher :
ISBN 13 :
Total Pages : 130 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Finance and Growth by : Ross Levine

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

Finance, Firm Size, and Growth

Author : Thorsten Beck
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Finance, Firm Size, and Growth by : Thorsten Beck

Download or read book Finance, Firm Size, and Growth written by Thorsten Beck and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Although research shows that financial development accelerates aggregate economic growth, economists have not resolved conflicting theoretical predictions and ongoing policy disputes about the cross-firm distributional effects of financial development. Using cross-industry, cross-country data, the results are consistent with the view that financial development exerts a disproportionately positive effect on small firms. These results have implications for understanding the political economy of financial sector reform.

Financial Strategies in Competitive Markets

Author : Hasan Dinçer
Publisher : Springer Nature
ISBN 13 : 3030686124
Total Pages : 365 pages
Book Rating : 4.0/5 (36 download)

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Book Synopsis Financial Strategies in Competitive Markets by : Hasan Dinçer

Download or read book Financial Strategies in Competitive Markets written by Hasan Dinçer and published by Springer Nature. This book was released on 2021-04-13 with total page 365 pages. Available in PDF, EPUB and Kindle. Book excerpt: As globalization continues to rapidly evolve, economic borders between countries have practically disappeared. One effect is that nowadays companies can access new markets by investing in other countries. This offers an important advantage especially for international and large-scale companies. However, one result is the increased market competition. Small-scale local firms and SMEs have to compete with international firms and corporations that have significantly more resources. This competitive environment jeopardizes the sustainability of the smaller companies, which often are driven out of business by the more powerful global players. This book discusses financial strategies for small and middle size companies to increase their competitiveness in the global markets.

Does Local Financial Development Matter?

Author : Luigi Guiso
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (499 download)

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Book Synopsis Does Local Financial Development Matter? by : Luigi Guiso

Download or read book Does Local Financial Development Matter? written by Luigi Guiso and published by . This book was released on 1996 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:

the econometrics of finance and growth

Author : Thorsten Beck
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 45 pages
Book Rating : 4./5 ( download)

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Book Synopsis the econometrics of finance and growth by : Thorsten Beck

Download or read book the econometrics of finance and growth written by Thorsten Beck and published by World Bank Publications. This book was released on 2008 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: This paper reviews different econometric methodologies to assess the relationship between financial development and growth. It illustrates the identification problem, which is at the center of the finance and growth literature, using the example of a simple Ordinary Least Squares estimation. It discusses cross-sectional and panel instrumental variable approaches to overcome the identification problem. It presents the time-series approach, which focuses on the forecast capacity of financial development for future growth rates, and differences-in-differences techniques that try to overcome the identification problem by assessing the differential effect of financial sector development across states with different policies or across industries with different needs for external finance. Finally, it discusses firm-level and household approaches that allow analysts to dig deeper into the channels and mechanisms through which financial development enhances growth and welfare, but pose their own methodological challenges.

Vietnam 2035

Author : World Bank Group;Ministry of Planning and Investment of Vietnam
Publisher : World Bank Publications
ISBN 13 : 1464808252
Total Pages : 596 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Vietnam 2035 by : World Bank Group;Ministry of Planning and Investment of Vietnam

Download or read book Vietnam 2035 written by World Bank Group;Ministry of Planning and Investment of Vietnam and published by World Bank Publications. This book was released on 2016-11-07 with total page 596 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thirty years of Ä?á»•i Má»›i (economic renovation) reforms have catapulted Vietnam from the ranks of the world’s poorest countries to one of its great development success stories. Critical ingredients have been visionary leaders, a sense of shared societal purpose, and a focus on the future. Starting in the late 1980s, these elements were successfully fused with the embrace of markets and the global economy. Economic growth since then has been rapid, stable, and inclusive, translating into strong welfare gains for the vast majority of the population. But three decades of success from reforms raises expectations for the future, as aptly captured in the Vietnamese constitution, which sets the goal of “a prosperous people and a strong, democratic, equitable, and civilized country.†? There is a firm aspiration that by 2035, Vietnam will be a modern and industrialized nation moving toward becoming a prosperous, creative, equitable, and democratic society. The Vietnam 2035 report, a joint undertaking of the Government of Vietnam and the World Bank Group, seeks to better comprehend the challenges and opportunities that lie ahead. It shows that the country’s aspirations and the supporting policy and institutional agenda stand on three pillars: balancing economic prosperity with environmental sustainability; promoting equity and social inclusion to develop a harmonious middle- class society; and enhancing the capacity and accountability of the state to establish a rule of law state and a democratic society. Vietnam 2035 further argues that the rapid growth needed to achieve the bold aspirations will be sustained only if it stands on faster productivity growth and reflects the costs of environmental degradation. Productivity growth, in turn, will benefit from measures to enhance the competitiveness of domestic enterprises, scale up the benefits of urban agglomeration, and build national technological and innovative capacity. Maintaining the record on equity and social inclusion will require lifting marginalized groups and delivering services to an aging and urbanizing middle-class society. And to fulfill the country’s aspirations, the institutions of governance will need to become modern, transparent, and fully rooted in the rule of law.

financial development and innovation in small firms

Author : Siddharth Sharma
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 33 pages
Book Rating : 4./5 ( download)

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Book Synopsis financial development and innovation in small firms by : Siddharth Sharma

Download or read book financial development and innovation in small firms written by Siddharth Sharma and published by World Bank Publications. This book was released on 2012 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses firm level data from a cross-section of 57 countries to study how financial development affects innovation in small firms. The analysis finds that relative to large firms in the same industry, spending on research and development by small firms is more likely and sizable in countries at higher levels of financial development. The estimates imply that among firms doing research and development in a country like Romania, which is at the 20th percentile of financial development, a 1 standard deviation decrease in firm size is associated with a decrease of 0.7 standard deviations in research and development spending. In contrast, this decrease is only 0.2 standard deviations in a country like South Africa, which is at the 80th percentile of the distribution of financial development. Small firms also report producing more innovations per unit of research and development spending than large firms, and this gap is narrower in countries at higher levels of financial development. As a robustness check, the author shows that these patterns are stronger in industries inherently more reliant on external finance.

The Financial Development Report 2008

Author :
Publisher : World Economic Forum
ISBN 13 : 9295044088
Total Pages : 363 pages
Book Rating : 4.2/5 (95 download)

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Book Synopsis The Financial Development Report 2008 by :

Download or read book The Financial Development Report 2008 written by and published by World Economic Forum. This book was released on 2008 with total page 363 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Local Financial Development and Growth

Author : Jake Kendall
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (2 download)

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Book Synopsis Local Financial Development and Growth by : Jake Kendall

Download or read book Local Financial Development and Growth written by Jake Kendall and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: "Using a unique sample of net domestic product data for districts in India, I investigate the connection between banking sector development, human capital, and economic growth at the sub-national level. Using disaggregate data avoids many of the omitted variable problems that plague cross-country studies of the finance-growth connection and facilitates an instrumentation strategy. The findings show that the growth of many districts in India is financially constrained due to lack of banking sector development, and that the relationship between finance and growth may be non-linear. For the districts in the sample, moving from the 75th percentile of credit/net domestic product to the 25th percentile implies an average loss of 4 percent in growth over the 1990s. This indicates that the gains from increased banking sector outreach may be large. The analysis shows that human capital deepening can reduce the effect of the financial constraint and help decouple growth from financial development. In a district at the 25th literacy percentile, the implied growth loss due to a constrained banking sector is twice as large as in a district at the 75th literacy percentile. Thus, higher levels of human capital may activate alternative growth and production channels that are less finance intensive."--World Bank web site.

Too Much Finance?

Author : Mr.Jean-Louis Arcand
Publisher : International Monetary Fund
ISBN 13 : 1475526105
Total Pages : 50 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Too Much Finance? by : Mr.Jean-Louis Arcand

Download or read book Too Much Finance? written by Mr.Jean-Louis Arcand and published by International Monetary Fund. This book was released on 2012-06-01 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines whether there is a threshold above which financial development no longer has a positive effect on economic growth. We use different empirical approaches to show that there can indeed be "too much" finance. In particular, our results suggest that finance starts having a negative effect on output growth when credit to the private sector reaches 100% of GDP. We show that our results are consistent with the "vanishing effect" of financial development and that they are not driven by output volatility, banking crises, low institutional quality, or by differences in bank regulation and supervision.

Does Financial Institution Proximity Affect the Development of Entrepreneurship?

Author : Francesco Fasano
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (139 download)

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Book Synopsis Does Financial Institution Proximity Affect the Development of Entrepreneurship? by : Francesco Fasano

Download or read book Does Financial Institution Proximity Affect the Development of Entrepreneurship? written by Francesco Fasano and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The present contribution joins the stream of research investigating the relationship between local financial development, economic growth, and entrepreneurship. Relevant contributions highlighted that the probability of an individual to start a new business is higher when he/she moves from the least financially developed region to the most financially developed one. Indeed, higher levels of local financial development allow for easier access to external funds, which are crucial for the growth of new businesses. In this entrepreneurial context, the need of financial resources is especially relevant for research spin-offs (ROSs), which require significant resources to transfer to the market their innovative technologies. This chapter deepens the role of local financial development on entrepreneurship and, in particular, on research spin-offs. Empirical evidence highlight that at the time of ROSs,Äô incubation, local financial development does not affect the performance of spin-offs, as they mainly rely on Universities and public contributions. Vice versa, when the RSOs enter the market, they are more in need of funds from the financial system, for which local financial development interestingly becomes strongly relevant to them, affecting corporate performance. Consequently, despite the internationalization of financial markets, policymakers should carefully encourage entrepreneurship through the development of local financial systems.

Financial Development and Economic Growth

Author : Mr.Pablo Emilio Guidotti
Publisher : International Monetary Fund
ISBN 13 : 1451852452
Total Pages : 38 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Financial Development and Economic Growth by : Mr.Pablo Emilio Guidotti

Download or read book Financial Development and Economic Growth written by Mr.Pablo Emilio Guidotti and published by International Monetary Fund. This book was released on 1992-12-01 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the empirical relationship between long–run growth and the degree of financial development, proxied by the ratio of bank credit to the private sector as a fraction of GDP. We find that this proxy enters significantly and with a positive sign in growth regressions on a large cross–country sample, but with a negative sign using panel data for Latin America. Our findings suggest that the main channel of transmission from financial development to growth is the efficiency of investment, rather than its volume. We also present a model where the negative correlation between financial intermediation and growth results from financial liberalization in a poor regulatory environment.

formal versus informal finance: evidence from china

Author : Vojislav Maksimovic
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 77 pages
Book Rating : 4./5 ( download)

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Book Synopsis formal versus informal finance: evidence from china by : Vojislav Maksimovic

Download or read book formal versus informal finance: evidence from china written by Vojislav Maksimovic and published by World Bank Publications. This book was released on 2008 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: China is often mentioned as a counterexample to the findings in the finance and growth literature since, despite the weaknesses in its banking system, it is one of the fastest growing economies in the world. The fast growth of Chinese private sector firms is taken as evidence that it is alternative financing and governance mechanisms that support China's growth. This paper takes a closer look at firm financing patterns and growth using a database of 2,400 Chinese firms. The authors find that a relatively small percentage of firms in the sample utilize formal bank finance with a much greater reliance on informal sources. However, the results suggest that despite its weaknesses, financing from the formal financial system is associated with faster firm growth, whereas fund raising from alternative channels is not. Using a selection model, the authors find no evidence that these results arise because of the selection of firms that have access to the formal financial system. Although firms report bank corruption, there is no evidence that it significantly affects the allocation of credit or the performance of firms that receive the credit. The findings suggest that the role of reputation and relationship based financing and governance mechanisms in financing the fastest growing firms in China is likely to be overestimated.

Global Financial Development Report 2015/2016

Author : The World Bank
Publisher : World Bank Publications
ISBN 13 : 1464804710
Total Pages : 211 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis Global Financial Development Report 2015/2016 by : The World Bank

Download or read book Global Financial Development Report 2015/2016 written by The World Bank and published by World Bank Publications. This book was released on 2015-08-31 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global Financial Development Report 2015/2016 focuses on the ability of financial systems to sustainably extend the maturity of financial contracts for private agents. The challenges of extending the maturity structure of finance are often considered to be at the core of effective, sustainable financial development. Sustainably extending long-term finance may contribute to the objectives of higher growth and welfare, shared prosperity and stability in two ways: by reducing rollover risks for borrowers, thereby lengthening the horizon of investments; and by increasing the availability of long-term financial instruments, thereby allowing households to address their lifecycle challenges. The aim of the report is to contribute to the global policy debate on long-term finance. It builds upon findings from recent and ongoing research, lessons from operational work, as well as on inputs from financial sector professionals and researchers both within and outside the World Bank Group. Benefitting from new worldwide datasets and information on financial development, it will provide a broad and balanced review of the evidence and distill pragmatic lessons on long-term finance and related policies. This report, the third in the Global Financial Development Report series, follows the second issue on Financial Inclusion and the inaugural issue, Rethinking the Role of the State in Finance. The Global Financial Development Report 2015/2016 will be accompanied by a website worldbank.org/financialdevelopment containing extensive datasets, research papers, and other background materials as well as interactive features.

Financial Structure and Economic Development

Author : Thorsten Beck
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Financial Structure and Economic Development by : Thorsten Beck

Download or read book Financial Structure and Economic Development written by Thorsten Beck and published by World Bank Publications. This book was released on 2000 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: A country's level of finanical development and the legal environment in which financial intermediaries and markets operate critically influence economic development. In countries whose financial sectors are more fully developed and whose legal systems protect the rights of outside investors, economies grow faster, industries dependent on external finance expand more quickly, new firms are created more easily, firms have more access to external financing, and firms grow faster.