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  • 1
    Online Resource
    Online Resource
    Assessing Implementation of the Principles for Public Credit Guarantees for SMEs : A Global Survey (2016)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (47 p)
    Series Statement: World Bank E-Library Archive
    Parallel Title: Erscheint auch als Calice, Pietro Assessing Implementation of the Principles for Public Credit Guarantees for SMEs: A Global Survey
    Abstract: This paper presents evidence on implementation of the World Bank Group and Financial Sector Reform and Strengthening Initiative "Principles for Public Credit Guarantee Schemes for Small and Medium Enterprises". The evidence is based on a self-assessment of 60 schemes in 54 countries. Overall, the results show a fairly decent level of implementation of the Principles, especially in the areas of legal and regulatory framework, mandate and eligibility rules, and claim management process. The results also show several gaps where reform and actions may be warranted, namely identification and accountability of funding sources, corporate governance and risk management, prudential regulatory recognition of guarantees, program/product calibration, and reporting and disclosure
    DOI: 10.1596/1813-9450-7753
    URL: Volltext  (Deutschlandweit zugänglich)
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    MPI Ethno. Forsch.
  • 2
    Online Resource
    Online Resource
    Predicting Bank Insolvency in the Middle East and North Africa (2014)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (19 p)
    Edition: 2014 World Bank eLibrary
    Parallel Title: Calice, Pietro Predicting Bank Insolvency in the Middle East and North Africa
    Abstract: This paper uses a panel of annual observations for 198 banks in 19 Middle East and North Africa countries over 2001-12 to develop an early warning system for forecasting bank insolvency based on a multivariate logistic regression framework. The results show that the traditional CAMEL indicators are significant predictors of bank insolvency in the region. The predictive power of the model, both in-sample and out-of-sample, is reasonably good, as measured by the receiver operating characteristic curve. The findings of the paper suggest that banking supervision in the Middle East and North Africa could be strengthened by introducing a fundamentals-based, off-site monitoring system to assess the soundness of financial institutions
    DOI: 10.1596/1813-9450-6969
    URL: Volltext  (Deutschlandweit zugänglich)
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    MPI Ethno. Forsch.
  • 3
    Online Resource
    Online Resource
    Efficient financial allocation and productivity growth in Brazil (2018)
    Washington, D.C. : World Bank Group, Finance, Competitiveness and Innovation Global Practice
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 25 Seiten) , Illustrationen
    Series Statement: Policy research working paper 8479
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Calice, Pietro Efficient Financial Allocation and Productivity Growth in Brazil
    Keywords: 2013 - 2014 ; Entwicklungsbank ; Kreditgeschäft ; Allokation ; Produktivitätsentwicklung ; Öffentliches Kreditprogramm ; Brasilien ; Graue Literatur
    Abstract: This paper attempts to study the impact of Brazilian Development Bank credit on resource misallocation in Brazil, using manufacturing firm-level data from 2003-14. The paper first estimates measures of resource misallocation based on Hsieh and Klenow (2009), documenting high variation in firms' capital and output distortions. It then estimates the effect of financial frictions and access to Brazilian Development Bank loans on distortions and their dispersions. The analysis finds some preliminary evidence that the use of Brazilian Development Bank credit is not associated with a more efficient allocation of resources. The lower cost of Brazilian Development Bank loans reduces the marginal cost of capital, as it induces firms to reallocate inputs from labor to capital, and this effect is amplified for more financially dependent firms. The findings, together with extant evidence on the economic additionality of the Brazilian Development Bank, suggest that there is room for improving the allocative efficiency of the earmarked credit system in Brazil
    DOI: 10.1596/1813-9450-8479
    URL: Volltext  (Deutschlandweit zugänglich)
    URL: Deutschlandweit zugänglich
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  • 4
    Online Resource
    Online Resource
    Mobilizing Finance for the Just Energy Transition in the European Union (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Equitable Growth, Finance and Institutions Insight
    Keywords: Energy Transition ; European Union ; Finance ; Fiscal Adjustment ; Fiscal and Monetary Policy ; Fiscal Transfer ; Macroeconomics and Economic Growth
    Abstract: Minimizing the adverse social and economic consequences of the energy transition is an important social aspiration. It is the essence of the "just transition," the connective tissue that binds together climate goals with social outcomes centered around jobs. This policy note proposes the first iteration of a just transition policy framework built around three interrelated and mutually reinforcing pillars. These include: (i) a system for determining a hierarchy of priorities for activities, sectors, or groups that are to be compensated for the negative impacts they suffer from the transition to a low-carbon economy or supported because they contribute directly to a more equitable sharing of the costs and opportunities from the transition; (ii) a fiscal transfer mechanism to allocate public funds consistent with these priorities; and (iii) financial flows enablers, a set of instruments or policy interventions to facilitate private financial flows to activities or projects that are deemed to contribute to a more just transition. The assessment provides seven key takeaways for consideration by competent authorities to strengthen further the EU just transition policy framework going forward. These are: (i) narrowing the scope of the framework by focusing on social support and/or land restoration, while encouraging private sector funding for economic revitalization projects; (ii) enhancing data collection on social impact assessment to better understand the negative effects of climate transition initiatives and prevent "social washing"; (iii) embedding just transition considerations in sustainability regulations by including relevant indicators and metrics; (iv) providing guidance on assessing just transition-related risks for financial firms in prioritized regions and sectors; (v) clarifying supervisory expectations for financial firms regarding just transition-related litigation and liability risk; (vi) encouraging the development of financial instruments for the just transition; and (vii) maximizing the role of multilateral development banks in de-risking just transition projects, especially in member countries with limited resources and capacity
    DOI: 10.1596/40067
    URL: Deutschlandweit zugänglich
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  • 5
    Online Resource
    Online Resource
    An Exploration of Climate-Related Financial Risks for Credit Guarantee Schemes in Europe (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (30 pages)
    Parallel Title: Erscheint auch als Calice, Pietro An Exploration of Climate-Related Financial Risks for Credit Guarantee Schemes in Europe
    Keywords: Adaptation To Climate Change ; Climate Change ; Climate Change Economics ; Climate Change Impacts ; Climate Change Policy and Regulation ; Credit Guarantee ; Energy Price Shock ; Environment ; Financial Stability ; Fossil Fuel Subsidies ; Fossil Fuel Transition ; Macroeconomics and Economic Growth ; Physical Risk ; Public Sector Development ; Transition Risk
    Abstract: This paper assesses the vulnerability of credit guarantee schemes to the physical and transition risks related to climate change. Based on unique sectoral and spatial data from 29 European credit guarantee schemes linked to a range of vulnerability metrics, the paper identifies guarantees-at-risk, builds a transition risk score to rank sectors at risk, and conducts a stylized stress test to assess potential financial losses that credit guarantee schemes could incur under adverse climate-related scenarios. The results show that about one-third of credit guarantee schemes' guarantee portfolios is toward sectors that have high exposure to a disorderly energy transition. European credit guarantee schemes are also exposed to a broad range of climate-related physical risks, especially wildfires, coastal floods, and river floods, with 24-31 percent of outstanding guarantees toward sectors that have elevated exposure to climate change and weather variability. Finally, for transition and physical risk scenarios, the annual expected loss on the guarantee portfolio could increase by EUR 181 million and EUR 128 million, respectively. The results suggest that credit guarantee schemes could start integrating climate-related financial risks into their risk management frameworks
    DOI: 10.1596/1813-9450-10232
    URL: lizenzpflichtig
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  • 6
    Online Resource
    Online Resource
    Climate-Related and Environmental Risks for the Banking Sector in Latin America and the Caribbean : A Preliminary Assessment (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (43 pages)
    Parallel Title: Erscheint auch als Print Version: Calice, Pietro Climate-Related and Environmental Risks for the Banking Sector in Latin America and the Caribbean: A Preliminary Assessment
    Abstract: There is increasing recognition that climate-related and environmental risks are a source of financial risks. Using publicly available data, this paper attempts a preliminary estimation of the physical and transition risks for the banking sector in a sample of economies in Latin America and the Caribbean. The results show that exposure to floods, compounded by high loan concentration in and around countries' capital cities, represents the most important source of credit risk for the banking sector. After large-scale natural disasters, banks' nonperforming loans increase by up to 1.4 percentage points in affected provinces. The results also show that banks in the region are exposed to transition risks, especially in Argentina, Bolivia, Paraguay, and Uruguay, due to their high lending to the agriculture sector, which is the largest emitter of greenhouse gases in the countries. Firms operating in transition-sensitive sectors already present signs of financial stress, especially those in the fossil fuel and agriculture sectors. Overall, the results demonstrate the importance for financial authorities in the region to advance in the integration of climate-related and environmental risks in their work
    DOI: 10.1596/1813-9450-9694
    URL: Deutschlandweit zugänglich
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  • 7
    Online Resource
    Online Resource
    Interest Rate Repression Around the World (2020)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Other papers
    Abstract: Financial repression resurfaced in the wake of the global financial crisis and may become a common feature in the post Coronavirus 2019 (COVID-19) world. To advance knowledge and inform policy advice, this paper presents a new database on interest rate controls, a popular form of financial repression, based on a survey with 108 countries representing 88 percent of global gross domestic product (GDP). The data cover such aspects of interest rate controls as types of controls, legal basis, intended objectives, methodologies, and enforcement rules. In an attempt to provide a meaningful characterization of the data, this paper also provides a preliminarily estimate of the degree of bindingness of the interest rate control regime in a country and presents simple correlations with other financial repression policies. The paper finally discusses general principles of an interest rate management policy that can minimize adverse side effects of binding controls while laying down the basis for a smooth transition or return to market determined interest rates
    DOI: 10.1596/34672
    URL: Deutschlandweit zugänglich
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  • 8
    Online Resource
    Online Resource
    Bank Competition, Financial Dependence, and Economic Growth in the Gulf Cooperation Council (2016)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (33 p)
    Series Statement: World Bank E-Library Archive
    Parallel Title: Erscheint auch als Caggiano, Giovanni Bank Competition, Financial Dependence, and Economic Growth in the Gulf Cooperation Council
    Abstract: The relationship between bank competition, firm access to finance, and economic growth is a much debated topic in the economic literature and in policy circles. This paper uses a panel of 23 manufacturing sectors over 2002–10 to investigate the impact of bank competition on industry growth in the Gulf Cooperation Council economies. The results show that greater competition allows financially dependent firms to grow faster. In addition, the results show that lower restrictions on banks' permissible activities, better credit information, and greater institutional effectiveness mitigate the damaging impact of low competition. These results are robust to a variety of checks. The findings suggest that improving bank competition should be an important aspect of the financial sector development agenda in the Gulf Cooperation Council
    DOI: 10.1596/1813-9450-7687
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 9
    Online Resource
    Online Resource
    Interest rate repression : a new database (2020)
    [Washington, DC, USA] : World Bank Group, Finance, Competitiveness and Innovation Global Practice
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 25 Seiten) , Illustrationen
    Series Statement: Policy research working paper 9457
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Calice, Pietro Interest Rate Repression: A New Database
    Keywords: Graue Literatur
    Abstract: Financial repression resurfaced in the wake of the global financial crisis and might become a common feature in the post Covid-19 world. To advance knowledge and inform policy advice, this paper presents a new database on interest rate controls, a popular form of financial repression, based on a survey of 108 countries, representing 88 percent of global gross domestic product. The data cover such aspects of interest rate controls as types of controls, legal basis, intended objectives, methodologies, and enforcement rules. In an attempt to provide a meaningful characterization of the data, the paper also provides a preliminarily estimate of the degree of bindingness of the interest rate control regime in a country and presents simple correlations with other financial repression policies
    DOI: 10.1596/1813-9450-9457
    URL: lizenzpflichtig
    URL: Deutschlandweit zugänglich
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  • 10
    Online Resource
    Online Resource
    Nature-Related Financial Risks in Brazil (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (37 pages)
    Parallel Title: Erscheint auch als Print Version: Calice, Pietro Nature-Related Financial Risks in Brazil
    Keywords: Bankruptcy and Resolution of Financial Distress ; Biodiversity ; Corporate Borrowing ; Debt Markets ; Ecosystem Services ; Ecosystems and Natural Habitats ; Environment ; Finance ; Finance and Financial Sector Development ; Financial Risk ; Insurance and Risk Mitigation ; Natural Disaster ; Natural Disasters
    Abstract: Biodiversity loss and associated economic costs are increasingly recognized as a source of financial risks. This paper explores how and to what extent Brazilian banks are exposed to the loss of biodiversity through their lending to non-financial corporates. The results suggest that such exposures are material. Forty-six percent of Brazilian banks' non-financial corporate loan portfolio is concentrated in sectors highly or very highly dependent on one or more ecosystem services. Output losses associated with the collapse in ecosystem services could translate into a cumulative long-term increase in corporate nonperforming loans of 9 percentage points. Moreover, 15 percent of Brazilian banks' corporate loan portfolio is to firms potentially operating in protected areas, which could increase to 25 percent should conservation gaps close, and 38 percent should all priority areas become protected. Finally, 7 percent of corporate loans are to firms for which environmental controversies have been recorded. While preliminary, the results have important policy implications for both Brazilian banks and Banco Central do Brasil
    DOI: 10.1596/1813-9450-9759
    URL: Deutschlandweit zugänglich
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