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  • 1
    Language: English
    Pages: 1 Online-Ressource (circa 18 Seiten) , Illustrationen
    Series Statement: Policy research working paper 9078
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Leora Klapper Financial Risk Management in Agriculture: Analyzing Data from a New Module of the Global Findex Database
    Keywords: Graue Literatur
    Abstract: The ability to manage financial risk is especially important for people earning their living through agriculture. Many farmers only get paid once or twice a year, and households need to stretch their earnings across the year by saving or borrowing money. Moreover, agricultural production faces a variety of risks related to both production and markets because of their exposure to weather and disease shocks. Households engaged in agriculture may thus especially benefit from financial inclusion-access to and use of formal financial services. This paper explores the topic of financial risk management in agriculture-how adults who rely on growing crops or raising livestock as their household's main source of income manage financial risk and use financial services. The paper summarizes new data based on a nationally representative survey of about 15,000 adults in 15 lower-middle- and low-income Sub-Saharan African economies collected as part of the World Bank's Global Findex database. The majority of these adults reported suffering a bad harvest or significant livestock loss in the past five years, and most bear the entire financial risk of such a loss. Most adults in agricultural households lack the financial tools-such as insurance, accounts, savings, and credit-that could help them manage financial risks
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  • 2
    Language: English
    Pages: Online-Ressource (34 p)
    Edition: 2011 World Bank eLibrary
    Parallel Title: Beck, Thorsten Is Small Beautiful?
    Abstract: Combining two unique data sets, this paper explores the relationship between the relative importance of different financial institutions and their average size and firms' access to financial services. Specifically, the authors explore the relationship between the share in total financial assets and average asset size of banks, low-end financial institutions, and specialized lenders, on the one hand, and firms' access to and use of deposit and lending services, on the other hand. Two findings stand out. First, the dominance of banks in most developing and emerging markets is associated with lower use of financial services by firms of all sizes. Low-end financial institutions and specialized lenders seem particularly suited to ease access to finance in low-income countries. Second, there is no evidence that smaller institutions are better in providing access to finance. To the contrary, larger specialized lenders and larger banks might actually ease small firms' financing constraints, but only at low levels of gross domestic product per capita
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 3
    Language: English
    Pages: Online-Ressource (48 p)
    Edition: 2013 World Bank eLibrary
    Parallel Title: Dahiya, Sandeep The Role of Private Equity Investments in Public Firms
    Abstract: This paper compares the raising of external equity capital from private equity investors via private investments in public equity (PIPEs) and seasoned equity offerings (SEOs) using a sample of 456 PIPEs and 1,910 SEOs drawn from nine Asian countries. Consistent with the idea that insiders attempt to time the markets, firms issuing SEOs are preceded by a significantly higher run-up in stock price compared with those issuing PIPEs. This result is consistent with the undervaluation hypothesis that states that firms are more likely to issue PIPEs when they perceive their stock to be undervalued. In contrast to the United States where this undervaluation appears to be driven by financial distress and asymmetric information, the results show PIPE and SEO issuers to be statistically undistinguishable from each other. The announcement of a PIPE offering is on average associated with a significantly higher stock market reaction compared with an issue of a SEO, suggesting that private equity investors may play a certification or monitoring role. However, a comparison of PIPE issuers' operating performance and stock market returns in the pre-issue and the post-issue periods does not detect any significant improvements
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 4
    Language: English
    Pages: Online-Ressource (32 p)
    Edition: 2013 World Bank eLibrary
    Parallel Title: Anson, Jose Financial Inclusion and the Role of the Post Office
    Abstract: Given their widespread presence in rural and poor areas, post offices can play a leading role in advancing financial inclusion. Yet little is known about the type of clients that post offices reach through their financial service offerings as compared with clients of traditional financial institutions (such as commercial banks). This paper documents and analyzes account ownership patterns at post offices in comparison with traditional financial institutions, using the Global Financial Inclusion Indicators (Global Findex) database, which collects data on account ownership at post offices in 60 countries where postal accounts are offered. Controlling for a host of individual characteristics and country fixed effects, the paper finds that post offices are relatively more likely than traditional financial institutions to provide accounts to individuals who are most likely to be from financially vulnerable groups, such as the poor, less educated, and those out of the labor force. The paper also uses data from the Universal Postal Union to explore the degree to which different postal business models and the size of the postal network help explain differences in account ownership patterns. The results suggest that post offices can boost account ownership by acting as cash-merchants for transactional financial services, such as electronic government and remittance payments, and that partnerships between the post office and other financial institutions coincide with a higher bank account penetration. The paper also finds that the size of the postal network matters; the larger the network-relative to the network of traditional financial institutions-the more likely it is that adults have an account at the post office
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 5
    Language: English
    Pages: 1 Online-Ressource (97 p)
    Series Statement: World Bank E-Library Archive
    Parallel Title: Erscheint auch als Demirguc-Kunt, Asli The Global Findex Database 2014
    Abstract: The Global Financial Inclusion (Global Findex) database, launched by the World Bank in 2011, provides comparable indicators showing how people around the world save, borrow, make payments, and manage risk. The 2014 edition of the database reveals that 62 percent of adults worldwide have an account at a bank or another type of financial institution or with a mobile money provider. Between 2011 and 2014, 700 million adults became account holders while the number of those without an account-the unbanked-dropped by 20 percent to 2 billion. What drove this increase in account ownership? A growth in account penetration of 13 percentage points in developing economies and innovations in technology-particularly mobile money, which is helping to rapidly expand access to financial services in Sub-Saharan Africa. Along with these gains, the data also show that big opportunities remain to increase financial inclusion, especially among women and poor people. Governments and the private sector can play a pivotal role by shifting the payment of wages and government transfers from cash into accounts. There are also large opportunities to spur greater use of accounts, allowing those who already have one to benefit more fully from financial inclusion. In developing economies 1.3 billion adults with an account pay utility bills in cash, and more than half a billion pay school fees in cash. Digitizing payments like these would enable account holders to make the payments in a way that is easier, more affordable, and more secure
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 6
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource (42 pages)
    Parallel Title: Erscheint auch als Print Version: Bruhn, Miriam Competition and Firm Recovery Post-COVID-19
    Keywords: Business Cycles and Stabilization Policies ; Competitiveness and Competition Policy ; Coronavirus ; COVID-19 ; Creative Destruction ; Disease Control and Prevention ; Economic Recovery ; Enterprise Survey ; Firm Competition ; Government Support ; Health, Nutrition and Population ; Macroeconomics and Economic Growth ; Pandemic Response ; Private Sector Development ; Private Sector Economics ; Productivity
    Abstract: This paper examines the impact of the COVID-19 crisis on the reallocation of economic activity across firms, and whether this reallocation depends on the competition environment. The paper uses the World Bank's Enterprise Surveys COVID-19 Follow-up Surveys for about 8,000 firms in 23 emerging and developing countries in Europe and Central Asia, matched with 2019 Enterprise Surveys data. It finds that during the COVID-19 crisis, economic activity was reallocated toward firms with higher pre-crisis labor productivity. Countries with a strong competition environment experienced more reallocation from less productive to more productive firms than countries with a weak competition environment. The evidence also suggests that reallocation from low- to high-productivity firms during the COVID-19 crisis was stronger compared with pre-crisis times. Finally, the analysis shows that government support measures implemented in response to the crisis may have adverse effects on competition and productivity growth since support went to less productive and larger firms, regardless of their pre-crisis innovation
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  • 7
    Language: English
    Pages: 1 Online-Ressource (27 p)
    Series Statement: World Bank E-Library Archive
    Parallel Title: Erscheint auch als Demirguc-Kunt, Asli Financial Inclusion and Inclusive Growth: A Review of Recent Empirical Evidence
    Abstract: There is growing evidence that appropriate financial services have substantial benefits for consumers, especially women and poor adults. This paper provides an overview of financial inclusion around the world and reviews the recent empirical evidence on how the use of financial products-such as payments services, savings accounts, loans, and insurance-can contribute to inclusive growth and economic development. This paper also discusses some of the challenges to achieving greater financial inclusion and directions for future research
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 8
    ISBN: 9781464818974
    Language: English
    Pages: 1 Online-Ressource (202 pages)
    Parallel Title: Erscheint auch als
    Abstract: The fourth edition of Global Findex--the world's most comprehensive database on financial inclusion--offers a lens into how people accessed and used financial services during COVID-19, when mobility restrictions and health policies drove increased demand for digital services of all kinds. Published every three years since 2011, Findex is the only global demand-side data source allowing for global and regional cross-country analysis to provide a rigorous and multidimensional picture of how adults save, borrow, make payments, and manage financial risks. Findex 2021 data were collected from national representative surveys of about 130,000 adults in more than 120 economies. The latest edition includes new series measuring financial health and resilience and contains more granular data on digital payments adoption, including merchant and government payments. The Global Findex is an indispensable resource for financial service practitioners, policy makers, researchers, and development professionals--
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  • 9
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource (31 pages)
    Parallel Title: Erscheint auch als Bruhn, Miriam Government Support and Firm Performance during COVID-19
    Keywords: Covid-19 ; Disease Control and Prevention ; Employment ; Government ; Health, Nutrition and Population ; Pandemic ; Private Sector Development ; Private Sector Economics ; Social Protections and Labor
    Abstract: This paper assesses the medium-run effects of government support to firms during the COVID-19 crisis and whether the effectiveness of this support varied with its timing. Using data from three rounds of the World Bank's Enterprise Surveys COVID-19 Follow-up Surveys carried out between May 2020 and April 2022, it relates government support in Round 1 (received in the first half of 2020) and Round 2 (received during the second half of 2020 or early 2021) with firm performance in Round 3 (generally mid-2021). Controlling for a host of background characteristics, firms that received support in Round 1 performed better in terms of Round 3 sales, but only if they did not have continued support. Firms that also received support in Round 2 had similar Round 3 sales as those that received no support and were more likely to decrease employment. Firms that received government support only in Round 2 experienced no boost in Round 3 performance. The findings suggest that government support should be provided promptly, but it should also be phased out quickly
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  • 10
    Language: English
    Pages: 1 Online-Ressource (100 pages)
    Series Statement: Europe and Central Asia Economic Update
    Parallel Title: Erscheint auch als
    Keywords: Business Dynamism ; ECA ; Economic Forecasts ; Economic Growth ; Europe and Central Asia ; Inflation ; International Development ; Private Sector Development ; Role of the State ; Russia's Invasion of Ukraine
    Abstract: Europe and Central Asia (ECA) continues to be negatively impacted by the Russian Federation's invasion of Ukraine, tighter global financial conditions, persistent inflation, and global economic fragmentation. Economic growth in the region is projected to remain weak relative to the long-term trend, delaying the convergence of living standards to those of high-income countries. Climate change is becoming a serious constraint on growth, as extreme weather events are affecting the region with increased frequency and severity. Economic growth for the emerging market and developing economies (EMDEs) of the Europe and Central Asia region has been revised up to 2.4% for 2023. The pickup in growth reflects improved forecast for war-hit Ukraine and for Central Asia as well as consumer resiliency in Turkiye and better-than-expected growth in Russia because of a surge in government spending on the military and social transfers. Nevertheless, growth remains weak relative to the long-term pre-pandemic averages. Downside risks cloud the outlook for the 23 EMDEs in Europe and Central Asia. High inflation may persist amid heightened volatility in global commodity markets and a surge in energy prices. Global financial markets may become more volatile and restrictive due to tightening financing conditions. Global growth for 2020-2024 is the weakest than during any five-year period since 1990 and may weaken further
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