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  • Demirguc-Kunt, Asli  (5)
  • Delius, Antonia  (2)
  • Washington, D.C : The World Bank  (7)
  • COVID-19  (4)
  • Financial Systems  (3)
  • 1
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Policy Notes
    Keywords: Coping Strategies ; Coronavirus ; COVID-19 ; Disease Control and Prevention ; Early Child and Children's Health ; Employment ; Food Security ; Health, Nutrition and Population ; Human Capital ; Inequality ; Poverty ; Poverty Monitoring and Analysis ; Poverty Reduction
    Abstract: Understanding the socioeconomic impact of the COVID-19 pandemic is important to inform policy responses. The arrival of COVID-19 disrupted lives across all countries and communities, creating unprecedented challenges. As of August 2021, there have been more than 200 million cases globally, with more than 4 million deaths. Throughout the pandemic, governments have adopted measures to curb the spread of the virus, which inadvertently resulted in socioeconomic impacts. To shape and accelerate the recovery, it is important to better understand the implications of the pandemic and its associated restrictions. The strict containment measures that were put in place in response to the COVID-19 pandemic in Kenya had negative socioeconomic impacts. With the onset of the COVID-19 pandemic in Kenya in March 2020, a range of containment measures were introduced by the Government of Kenya (GoK). These included the promotion of social distancing practices, restrictions on public gatherings, night curfews, shutting down learning institutions, and limits on public transport passenger capacities. Despite this, the number of cases reached 200,000 in August 2021, with more than 4,000 deaths. People were facing job losses, rising food insecurity, and worsening health and education outcomes. Understanding and quantifying the repercussions of the pandemic, particularly on different sub-groups of the population, can help to inform policies and improve targeting
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  • 2
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Policy Notes
    Keywords: Coronavirus ; COVID-19 ; Disease Control and Prevention ; Employment ; Food Security ; Health, Nutrition and Population ; Human Capital ; Inequality ; Living Standards ; Poverty Monitoring and Analysis ; Poverty Reduction ; Refugees
    Abstract: Understanding the socioeconomic impact of the COVID-19 pandemic on refugees is important to inform targeted policy responses. The arrival of COVID-19 disrupted lives across all countries and communities, creating unprecedented challenges for the world. As of August 2021, there have been more than 200,000 cases in Kenya, with more than 4,000 deaths. In response, the Government of Kenya (GoK) has imposed a range of restrictions to curb the spread of the pandemic. However, this has inadvertently resulted in socioeconomic effects on the population in Kenya, including those in refugee settlements. Data from the Rapid Response Phone Surveys (RRPS) will be essential in providing information to monitor and mitigate the impact of the pandemic. For refugee and surrounding host communities, which span the humanitarian development nexus, this type of data is particularly important as comparatively there is the least data globally for these populations have. The Kenya COVID-19 RRPS aims to fill socioeconomic data gaps by providing evidence to inform targeted policy and programmatic response. With face-to-face data collection no longer a feasible option due to high infection rates and government restrictions, phone surveys emerged as an alternative for rapid and frequent data collection. The World Bank in collaboration with the Kenya National Bureau of Statistics (KNBS), the United Nations High Commissioner for Refugees (UNHCR) and researchers from the University of California, Berkeley, are implementing Rapid Response Phone Surveys for (i) Kenyan and refugee households, (ii) micro-enterprises run by young entrepreneurs, and (iii) formal enterprises. This note provides findings and makes policy recommendations based on five waves of data collection for Kenyan and refugee households. The RRPS data is unique as it allows to draw a picture of the socioeconomic situation of all major refugee groups in Kenya during the COVID-19 pandemic, covering camp and urban refugees as well as stateless persons in the same as Kenyan nationals. Kenyan nationals residing in urban areas were selected as the comparison group throughout this report, as densely populated areas, such as Kenya's urban areas and refugee camps, were differently affected by the pandemic and thus this comparison is relatively easily made
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  • 3
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: 1 Online-Ressource (84 pages)
    Parallel Title: Erscheint auch als Print Version: Berger, Allen N Banking Research in the Time of COVID-19
    Keywords: Bailouts ; Banking Sector ; Bankruptcy and Resolution of Financial Distress ; Business Cycles and Stabilization Policies ; Capital Markets and Capital Flows ; Coronavirus ; COVID-19 ; Disease Control and Prevention ; Finance and Financial Sector Development ; Financial Crises ; Financial Regulation and Supervision ; Global Financial Crisis ; Health, Nutrition and Population ; Macroeconomics and Economic Growth ; Tarp
    Abstract: Despite the devastating worldwide human and economic tolls of the COVID-19 crisis, it has created some positive economic and financial surprises and opportunities for research. This paper highlights two such favorable surprises -the shortest U.S. recession on record and the avoidance of any banking crisis-and a number of research opportunities. The paper ties the "economic surprise" of the short recession to the speed and size of U.S. stimulus programs during COVID-19-faster and larger than for the Global Financial Crisis (GFC). It connects the "financial surprise" of the resilient banking sector to prudential policies put in place during and after the GFC that fortified U.S. banks prior to COVID-19. These twin "surprises" are also mutually reinforcing-if either the economy or banking system had failed, so would the other. The paper also reviews extant COVID-19 banking research and suggests paths for future research. It recommends that particular attention be paid to research outside of the U.S.-where fewer favorable "surprises" may be present-as the best way to advance knowledge in this area
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  • 4
    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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  • 5
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (82 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Demirguc-Kunt, Asli Finance, Financial Sector Policies, And Long-Run Growth
    Keywords: Access to Finance ; Banks and Banking Reform ; Debt Markets ; Economic Development ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Development ; Financial Instruments ; Financial Markets ; Financial System ; Financial Systems ; International Bank ; Investment Decisions ; Macroeconomics and Economic Growth ; Private Sector Development ; Transaction ; Transaction Costs ; Access to Finance ; Banks and Banking Reform ; Debt Markets ; Economic Development ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Development ; Financial Instruments ; Financial Markets ; Financial System ; Financial Systems ; International Bank ; Investment Decisions ; Macroeconomics and Economic Growth ; Private Sector Development ; Transaction ; Transaction Costs ; Access to Finance ; Banks and Banking Reform ; Debt Markets ; Economic Development ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Development ; Financial Instruments ; Financial Markets ; Financial System ; Financial Systems ; International Bank ; Investment Decisions ; Macroeconomics and Economic Growth ; Private Sector Development ; Transaction ; Transaction Costs
    Abstract: The first part of this paper reviews the literature on the relation between finance and growth. The second part of the paper reviews the literature on the historical and policy determinants of financial development. Governments play a central role in shaping the operation of financial systems and the degree to which large segments of the financial system have access to financial services. The paper discusses the relationship between financial sector policies and economic development
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 6
    Language: English
    Pages: Online-Ressource (1 online resource (77 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Ayyagari, Meghana Formal Versus Informal Finance
    Keywords: Access to Finance ; Alternative Financing ; Banking System ; Bankruptcy and Resolution of Financial Distress ; Banks and Banking Reform ; Corruption ; Debt Markets ; Finance and Financial Sector Development ; Financial Development ; Financial System ; Financial Systems ; Formal Bank ; Formal Financial Institutions ; Informal Finance ; International Bank ; Access to Finance ; Alternative Financing ; Banking System ; Bankruptcy and Resolution of Financial Distress ; Banks and Banking Reform ; Corruption ; Debt Markets ; Finance and Financial Sector Development ; Financial Development ; Financial System ; Financial Systems ; Formal Bank ; Formal Financial Institutions ; Informal Finance ; International Bank ; Access to Finance ; Alternative Financing ; Banking System ; Bankruptcy and Resolution of Financial Distress ; Banks and Banking Reform ; Corruption ; Debt Markets ; Finance and Financial Sector Development ; Financial Development ; Financial System ; Financial Systems ; Formal Bank ; Formal Financial Institutions ; Informal Finance ; International Bank
    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
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 7
    Online Resource
    Online Resource
    Washington, D.C : The World Bank
    Language: English
    Pages: Online-Ressource (1 online resource (34 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Demirguc-Kunt, Asli Finance And Economic Opportunity
    Keywords: Access to Finance ; Banks and Banking Reform ; Debt Markets ; Economic Opportunities ; Economic Opportunity ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Markets ; Financial Services ; Financial System ; Financial Systems ; Formal Financial Sector ; Households ; Inequality ; Macroeconomics and Economic Growth ; Private Sector Development ; Small Enterprises ; Access to Finance ; Banks and Banking Reform ; Debt Markets ; Economic Opportunities ; Economic Opportunity ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Markets ; Financial Services ; Financial System ; Financial Systems ; Formal Financial Sector ; Households ; Inequality ; Macroeconomics and Economic Growth ; Private Sector Development ; Small Enterprises ; Access to Finance ; Banks and Banking Reform ; Debt Markets ; Economic Opportunities ; Economic Opportunity ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Markets ; Financial Services ; Financial System ; Financial Systems ; Formal Financial Sector ; Households ; Inequality ; Macroeconomics and Economic Growth ; Private Sector Development ; Small Enterprises
    Abstract: An influential body of theoretical research and an emerging line of empirical work suggest that the operation of the formal financial system affects the degree to which economic opportunities are defined by talent and initiative rather than by parental wealth and social connections. This paper discusses the theory of how financial markets influence economic opportunity and reviews recent empirical work on the relation between formal financial systems and poverty, income inequality, and economic opportunity. The authors consider recent efforts to measure the ability of households and small enterprises to access financial services, the impact of this access, and the mechanisms through which finance affects poverty and inequality. The authors argue that considerably more research is needed to identify which formal financial sector policies enhance the operation of the financial system in ways that expand the economic horizons of the economically disenfranchised
    URL: Volltext  (Deutschlandweit zugänglich)
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