The Real Effects of Financial Sector Interventions During Crises

The Real Effects of Financial Sector Interventions During Crises
Author: Fabian Valencia
Publisher: International Monetary Fund
Total Pages: 38
Release: 2011-03-01
Genre: Business & Economics
ISBN: 1455222003

We collect new data to assess the importance of supply-side credit market frictions by studying the impact of financial sector recapitalization packages on the growth performance of firms in a large cross-section of 50 countries during the recent crisis. We develop an identification strategy that uses the financial crisis as a shock to credit supply and exploits exogenous variation in the degree to which firms depend on external financing for investment needs, and focus on policy interventions aimed at alleviating the bank capital crunch. We find that the growth of firms dependent on external financing is disproportionately positively affected by bank recapitalization policies, and that this effect is quantitatively important and robust to controlling for other financial sector support policies. We also find that fiscal policy disproportionately boosted growth of firms more dependent on external financing. These results provide new evidence of a quantitatively important role of credit market frictions in influencing real economic activity.

SME Finance and the Economic Crisis

SME Finance and the Economic Crisis
Author: Alina Hyz
Publisher: Routledge
Total Pages: 135
Release: 2019-05-22
Genre: Business & Economics
ISBN: 0429759096

This book analyses the financing problems of Greek small and medium-sized enterprises (SMEs), within a liberalized financial system and within an economic environment of fiscal and monetary constraints. Using recent data covering a ten-year period, the main aim of the research is to explain the interdependence between the situation of the banking sector generally and that of small and medium enterprises. The author argues that the reluctance of banks to lend to Greek companies because of the strict financing constraints, due to the national debt crisis, serves to exacerbate the cycle of economic recession. This factor seriously undermines the efforts of Greek companies to develop growth opportunities, and negatively affects their competitiveness as well as their ability to strengthen their market position. The author examines the supply and demand aspect of the problem: there is lower demand for lending due to the decline of demand for goods and services as well as a tightening of banks’credit standards, whilst on the supply side, the deteriorating financial situation of banks and their willingness to avoid increasing risk are important contributing factors. Finally, the author presents the main conclusions of the analyses carried out in the previous sections of the book and discusses some relevant recommendations for future research. Building on the extant literature, this book analyses the problem from the point of view of both businesses and the banking sector. The study is useful for scholars, businesses and policy decision makers who are interested in the problem of small and medium-sized enterprises financing.

Macrofinancial Indicators for 117 Developing and Industrial Countries

Macrofinancial Indicators for 117 Developing and Industrial Countries
Author: Craig R. Neal
Publisher: World Bank Publications
Total Pages: 59
Release: 1990
Genre: Economic indicators
ISBN:

Reducing inflation is the only sustainable way to increase the size of a country's financial system and thus promote the economic efficiencies associated with bank financial intermediation. Raising nominal deposit rates to fully offset higher inflation requires maintaining progressively higher real deposit rates. These real rates can reach unsustainable levels even at "only" double- digit inflation rates.

Financial Theory and Corporate Policy

Financial Theory and Corporate Policy
Author: Thomas E. Copeland
Publisher:
Total Pages: 924
Release: 2013-07-17
Genre: Corporations
ISBN: 9781292021584

This classic textbook in the field, now completely revised and updated, provides a bridge between theory and practice. Appropriate for the second course in Finance for MBA students and the first course in Finance for doctoral students, the text prepares students for the complex world of modern financial scholarship and practice. It presents a unified treatment of finance combining theory, empirical evidence and applications.

Banks on the Brink

Banks on the Brink
Author: Mark Copelovitch
Publisher: Cambridge University Press
Total Pages: 257
Release: 2020-02-20
Genre: Business & Economics
ISBN: 1108489885

International capital flow and domestic financial market structures explain why some countries are more vulnerable to banking crises.

Economic Crisis, Health Systems and Health in Europe

Economic Crisis, Health Systems and Health in Europe
Author: Sarah Thomson
Publisher: Open University Press
Total Pages: 0
Release: 2015-07
Genre: Europe
ISBN: 9780335264001

Economic shocks pose a threat to health and health system performance by increasing people's need for health care and making access to care more difficult - a situation compounded by cuts in public spending on health and other social services. But these negative effects can be avoided by timely public policy action. While important public policy levers lie outside the health sector, in the hands of those responsible for fiscal policy and social protection, the health system response is critical. This book looks at how health systems in Europe reacted to pressure created by the financial and economic crisis that began in 2008. Drawing on the experience of over 45 countries, the authors:' analyse health system responses to the crisis in three policy areas: public funding for the health system; health coverage; and health service planning, purchasing and delivery 'assess the impact of these responses on health systems and population health' identify policies most likely to sustain the performance of health systems facing financial pressure' explore the political economy of implementing reforms in a crisisThe book is essential reading for anyone who wants to understand the choices available to policy-makers - and the implications of failing to protect health and health-system performance - in the face of economic and other forms of shock.--

Small Business Management and Control of the Uncertain External Environment

Small Business Management and Control of the Uncertain External Environment
Author: Konstantinos Biginas
Publisher: Emerald Group Publishing
Total Pages: 219
Release: 2022-03-15
Genre: Business & Economics
ISBN: 1839096268

This edited collection investigates the potential impact of long-term planning and strategic awareness on the ability of SMEs to remain competitive. The authors demonstrate that whether SMEs are able to identify and act upon external forces and factors, or not, is the defining indicator of their likelihood to struggle, survive, or thrive.

International Bibliography of Economics

International Bibliography of Economics
Author: British Library of Political and Economic Science
Publisher: Psychology Press
Total Pages: 766
Release: 1993
Genre: Economics
ISBN: 9780415074612

IBSS is the essential tool for librarians, university departments, research institutions and any public or private institution whose work requires access to up-to-date and comprehensive knowledge of the social sciences.