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  • Demirguc-Kunt, Asli  (9)
  • Washington, D.C : The World Bank  (9)
  • Cham : Springer International Publishing AG
  • Private Sector Development  (7)
  • Bankruptcy and Resolution of Financial Distress  (2)
  • 1
    Online Resource
    Online Resource
    Government Support and Firm Performance during COVID-19 (2023)
    Washington, D.C : The World Bank
    Details
    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
    DOI: 10.1596/1813-9450-10641
    URL: Deutschlandweit zugänglich
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    MPI Ethno. Forsch.
  • 2
    Online Resource
    Online Resource
    Competition and Firm Recovery Post-COVID-19 (2021)
    Washington, D.C : The World Bank
    Details
    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
    DOI: 10.1596/1813-9450-9851
    URL: Deutschlandweit zugänglich
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    MPI Ethno. Forsch.
  • 3
    Online Resource
    Online Resource
    Banking Research in the Time of COVID-19 (2021)
    Washington, D.C : The World Bank
    Details
    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
    DOI: 10.1596/1813-9450-9782
    URL: Deutschlandweit zugänglich
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    MPI Ethno. Forsch.
  • 4
    Online Resource
    Online Resource
    Finance And Economic Opportunity (2008)
    Washington, D.C : The World Bank
    Details
    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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    MPI Ethno. Forsch.
  • 5
    Online Resource
    Online Resource
    Formal Versus Informal Finance : Evidence From China (2008)
    Washington, D.C : The World Bank
    Details
    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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  • 6
    Online Resource
    Online Resource
    Finance, Financial Sector Policies, And Long-Run Growth (2008)
    Washington, D.C : The World Bank
    Details
    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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    MPI Ethno. Forsch.
  • 7
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    Online Resource
    Microfinance Meets The Market (2008)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (40 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Cull, Robert Microfinance Meets The Market
    Keywords: Access to Finance ; Access to financial services ; Asymmetric information ; Banking services ; Banks & Banking Reform ; Debt Markets ; Emerging Markets ; Finance and Financial Sector Development ; Financial markets ; International bank ; Loan ; Loan repayment ; Microfinance ; Microfinance institutions ; Private Sector Development ; Transactio ; Access to Finance ; Access to financial services ; Asymmetric information ; Banking services ; Banks & Banking Reform ; Debt Markets ; Emerging Markets ; Finance and Financial Sector Development ; Financial markets ; International bank ; Loan ; Loan repayment ; Microfinance ; Microfinance institutions ; Private Sector Development ; Transactio ; Access to Finance ; Access to financial services ; Asymmetric information ; Banking services ; Banks & Banking Reform ; Debt Markets ; Emerging Markets ; Finance and Financial Sector Development ; Financial markets ; International bank ; Loan ; Loan repayment ; Microfinance ; Microfinance institutions ; Private Sector Development ; Transactio
    Abstract: Microfinance institutions have proved the possibility of providing reliable banking services to poor customers. Their second aim is to do so in a commercially-viable way. This paper analyzes the tensions and opportunities of microfinance as it embraces the market, drawing on a data set that includes 346 of the world's leading microfinance institutions and covers nearly 18 million active borrowers. The data show remarkable successes in maintaining high rates of loan repayment, but the data also suggest that profit-maximizing investors would have limited interest in most of the institutions that are focusing on the poorest customers and women. Those institutions, as a group, charge their customers the highest fees in the sample but also face particularly high transaction costs, in part due to small transaction sizes. Innovations to overcome the well-known problems of asymmetric information in financial markets were a triumph, but further innovation is needed to overcome the challenges of high costs
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 8
    Online Resource
    Online Resource
    Firm Innovation In Emerging Markets : The Roles of Governance And Finance (2007)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (56 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Ayyagari, Meghana Firm Innovation In Emerging Markets
    Keywords: Competitor ; Competitors ; Cooperatives ; Corporations ; Debt Markets ; E-Business ; Economy ; Education ; Emerging Markets ; Enterprises ; Entrepreneurs ; Entrepreneurship ; Finance and Financial Sector Development ; Financial Institution ; Financial Literacy ; Firm ; Firm Size ; Firms ; Foreign Partners ; Investment and Investment Climate ; Knowledge for Development ; Labor Policies ; Macroeconomics and Economic Growth ; Microfinance ; Private Sector Development ; Small Scale Enterprises ; Social Protections and Labor ; Competitor ; Competitors ; Cooperatives ; Corporations ; Debt Markets ; E-Business ; Economy ; Education ; Emerging Markets ; Enterprises ; Entrepreneurs ; Entrepreneurship ; Finance and Financial Sector Development ; Financial Institution ; Financial Literacy ; Firm ; Firm Size ; Firms ; Foreign Partners ; Investment and Investment Climate ; Knowledge for Development ; Labor Policies ; Macroeconomics and Economic Growth ; Microfinance ; Private Sector Development ; Small Scale Enterprises ; Social Protections and Labor ; Competitor ; Competitors ; Cooperatives ; Corporations ; Debt Markets ; E-Business ; Economy ; Education ; Emerging Markets ; Enterprises ; Entrepreneurs ; Entrepreneurship ; Finance and Financial Sector Development ; Financial Institution ; Financial Literacy ; Firm ; Firm Size ; Firms ; Foreign Partners ; Investment and Investment Climate ; Knowledge for Development ; Labor Policies ; Macroeconomics and Economic Growth ; Microfinance ; Private Sector Development ; Small Scale Enterprises ; Social Protections and Labor
    Abstract: The authors investigate the determinants of firm innovation in over 19,000 firms across 47 developing economies. They define the innovation process broadly, to include not only core innovation such as the introduction of new products and new technologies, but also other types of activities that promote knowledge transfers and adapt production processes. The authors find that more innovative firms are large exporting firms characterized by private ownership, highly educated managers with mid-level managerial experience, and access to external finance. In contrast, firms that do not innovate much are typically state-owned firms without foreign competitors. The identity of the controlling shareholder seems to be particularly important for core innovation, with those private firms whose controlling shareholder is a financial institution being the least innovative. While the use of external finance is associated with greater innovation by all private firms, it does not make state-owned firms more innovative. Financing from foreign banks is associated with higher levels of innovation compared with financing from domestic banks
    URL: Volltext  (Deutschlandweit zugänglich)
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  • 9
    Online Resource
    Online Resource
    Banking Services For Everyone ? : Barriers To Bank Access And Use Around The World (2006)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (60 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Beck, Thorsten Banking Services For Everyone ?
    Keywords: Bank ; Bank Accounts ; Banking Services ; Banks ; Banks and Banking Reform ; Checking Account ; Customers ; Debt Markets ; Demand ; Depos Deposits ; Emerging Markets ; Finance and Financial Sector Development ; Financial Institutions ; Financial Literacy ; Financial Services ; Financial Transaction ; Housing ; Private Sector Development ; Bank ; Bank Accounts ; Banking Services ; Banks ; Banks and Banking Reform ; Checking Account ; Customers ; Debt Markets ; Demand ; Depos Deposits ; Emerging Markets ; Finance and Financial Sector Development ; Financial Institutions ; Financial Literacy ; Financial Services ; Financial Transaction ; Housing ; Private Sector Development ; Bank ; Bank Accounts ; Banking Services ; Banks ; Banks and Banking Reform ; Checking Account ; Customers ; Debt Markets ; Demand ; Depos Deposits ; Emerging Markets ; Finance and Financial Sector Development ; Financial Institutions ; Financial Literacy ; Financial Services ; Financial Transaction ; Housing ; Private Sector Development
    Abstract: Using information from 193 banks in 58 countries, the authors develop and analyze indicators of physical access, affordability, and eligibility barriers to deposit, loan, and payment services. They find substantial cross-country variation in barriers to banking and show that in many countries these barriers can potentially exclude a significant share of the population from using banking services. Correlations with bank- and country-level variables show that bank size and the availability of physical infrastructure are the most robust predictors of barriers. Further, the authors find evidence that in more competitive, open, and transparent economies, and in countries with better contractual and informational frameworks, banks impose lower barriers. Finally, though foreign banks seem to charge higher fees than other banks, in foreign dominated banking systems fees are lower and it is easier to open bank accounts and to apply for loans. On the other hand, in systems that are predominantly government-owned, customers pay lower fees but also face greater restrictions in terms of where to apply for loans and how long it takes to have applications processed. These findings have important implications for policy reforms to broaden access
    URL: Volltext  (Deutschlandweit zugänglich)
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