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  • de la Torre, Augusto  (5)
  • Washington, D.C : The World Bank  (5)
  • Ann Arbor, Michigan : ProQuest
  • Cham : Springer International Publishing
  • Debt Markets  (5)
  • 1
    Online Resource
    Online Resource
    Bank Involvement With SMES : Beyond Relationship Lending (2008)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (75 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: de la Torre, Augusto Bank Involvement With SMES
    Keywords: Access to Finance ; Bank ; Banks and Banking Reform ; Debt Markets ; Emerging markets ; Enterprises ; Finance ; Finance and Financial Sector Development ; Financial Intermediation ; Foreign banks ; Governments ; Lending ; Risk ; Risk management ; Services ; Access to Finance ; Bank ; Banks and Banking Reform ; Debt Markets ; Emerging markets ; Enterprises ; Finance ; Finance and Financial Sector Development ; Financial Intermediation ; Foreign banks ; Governments ; Lending ; Risk ; Risk management ; Services ; Access to Finance ; Bank ; Banks and Banking Reform ; Debt Markets ; Emerging markets ; Enterprises ; Finance ; Finance and Financial Sector Development ; Financial Intermediation ; Foreign banks ; Governments ; Lending ; Risk ; Risk management ; Services
    Abstract: The "conventional wisdom" in academic and policy circles argues that, while large and foreign banks are generally not interested in serving SMEs, small and niche banks have an advantage in doing so because they can overcome SME opaqueness through relationship lending. This paper shows that there is a gap between this view and what banks actually do. Banks perceive SMEs as a core and strategic business and seem well positioned to expand their links with SMEs. The recent intensification of bank involvement with SMEs in various emerging markets documented in this paper is neither led by small or niche banks nor highly dependent on relationship lending. Rather, all types of banks are catering to SMEs and larger, multiple-service banks have in fact a comparative advantage in offering a wide range of products and services on a large scale, through the use of new technologies, business models, and risk management systems
    URL: Volltext  (Deutschlandweit zugänglich)
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    Online Resource
    MPI Ethno. Forsch.
  • 2
    Online Resource
    Online Resource
    Capital Market Development : Whither Latin America ? (2007)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (27 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Schmukler, Sergio L Capital Market Development
    Keywords: Bank Policy ; Bond ; Bond Market ; Bond Market Development ; Capital Market ; Capital Market Development ; Capital Market Reforms ; Capital Markets ; Debt Markets ; Domestic Capital ; Domestic Capital Markets ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Macroeconomics and Economic Growth ; Markets and Market Access ; Private Sector Development ; Bank Policy ; Bond ; Bond Market ; Bond Market Development ; Capital Market ; Capital Market Development ; Capital Market Reforms ; Capital Markets ; Debt Markets ; Domestic Capital ; Domestic Capital Markets ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Macroeconomics and Economic Growth ; Markets and Market Access ; Private Sector Development ; Bank Policy ; Bond ; Bond Market ; Bond Market Development ; Capital Market ; Capital Market Development ; Capital Market Reforms ; Capital Markets ; Debt Markets ; Domestic Capital ; Domestic Capital Markets ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Macroeconomics and Economic Growth ; Markets and Market Access ; Private Sector Development
    Abstract: Over the past decades, many countries have implemented significant reforms to foster capital market development. Latin American countries were at the forefront of this process. The authors analyze where Latin American capital markets stand after these reforms. They find that despite the intense reform effort, capital markets in Latin America remain underdeveloped relative to markets in other regions. Furthermore, stock markets are below what can be expected, given Latin America's economic and institutional fundamentals. The authors discuss alternative ways of interpreting this evidence. They argue that it is difficult to pinpoint which policies Latin American countries should pursue to overcome their poor capital market development. Moreover, they argue that expectations about the outcome of the reform process may need to be revisited to take into account intrinsic characteristics of emerging economies. The latter may limit the scope for developing deep domestic capital markets in a context of international financial integration
    URL: Volltext  (Deutschlandweit zugänglich)
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    MPI Ethno. Forsch.
  • 3
    Online Resource
    Online Resource
    Stock Market Development Under Globalization : Whither The Gains From Reforms ? (2007)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (38 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Schmukler, Sergio L Stock Market Development Under Globalization
    Keywords: Bank Policy ; Capital Market Development ; Capital Market Reforms ; Capital Markets ; Capital Raising ; Debt Markets ; Domestic Capital ; Domestic Capital Market ; Domestic Market ; Domestic Markets ; Emerging Markets ; Equity ; Finance and Financial Sector Development ; Macroeconomics and Economic Growth ; Markets and Market Access ; Private Sector Development ; Bank Policy ; Capital Market Development ; Capital Market Reforms ; Capital Markets ; Capital Raising ; Debt Markets ; Domestic Capital ; Domestic Capital Market ; Domestic Market ; Domestic Markets ; Emerging Markets ; Equity ; Finance and Financial Sector Development ; Macroeconomics and Economic Growth ; Markets and Market Access ; Private Sector Development ; Bank Policy ; Capital Market Development ; Capital Market Reforms ; Capital Markets ; Capital Raising ; Debt Markets ; Domestic Capital ; Domestic Capital Market ; Domestic Market ; Domestic Markets ; Emerging Markets ; Equity ; Finance and Financial Sector Development ; Macroeconomics and Economic Growth ; Markets and Market Access ; Private Sector Development
    Abstract: Over the past decades, many countries have implemented significant reforms to foster domestic capital market development. These reforms included stock market liberalization, privatization programs, and the establishment of regulatory and supervisory frameworks. Despite the intense reform efforts, the performance of capital markets in several countries has been disappointing. To study whether reforms have had the intended effects on capital markets, the authors analyze the impact of six capital market reforms on domestic stock market development and internationalization using event studies. They find that reforms tend to be followed by significant increases in domestic market capitalization, trading, and capital raising. Reforms are also followed by an increase in the share of activity in international equity markets, with potential negative spillover effects on domestic markets
    URL: Volltext  (Deutschlandweit zugänglich)
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    MPI Ethno. Forsch.
  • 4
    Online Resource
    Online Resource
    Innovative Experiences In Access To Finance : Market Friendly Roles For The Visible Hand ? (2007)
    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: de la Torre, Augusto Innovative Experiences In Access To Finance
    Keywords: Access to Finance ; Banks and Banking Reform ; Credit Guarantee ; Debt Markets ; Emerging Markets ; Environment ; Environmental Economics and Policies ; Finance and Financial Sector Development ; Financial development ; Financial markets ; International Bank ; Investment projects ; Market Infrastructure ; Private Sector Development ; Public banks ; Return ; Transaction ; Transaction Cost ; Access to Finance ; Banks and Banking Reform ; Credit Guarantee ; Debt Markets ; Emerging Markets ; Environment ; Environmental Economics and Policies ; Finance and Financial Sector Development ; Financial development ; Financial markets ; International Bank ; Investment projects ; Market Infrastructure ; Private Sector Development ; Public banks ; Return ; Transaction ; Transaction Cost ; Access to Finance ; Banks and Banking Reform ; Credit Guarantee ; Debt Markets ; Emerging Markets ; Environment ; Environmental Economics and Policies ; Finance and Financial Sector Development ; Financial development ; Financial markets ; International Bank ; Investment projects ; Market Infrastructure ; Private Sector Development ; Public banks ; Return ; Transaction ; Transaction Cost
    Abstract: Interest in access to finance has increased significantly in recent years, as growing evidence suggests that lack of access to credit prevents lower-income households and small firms from financing high return investment projects, having an adverse effect on growth and poverty alleviation. This study describes some recent innovative experiences to broaden access to credit. These experiences are consistent with an emerging new view that recognizes a limited role for the public sector in financial markets, but contends that there might be room for well-designed, restricted interventions in collaboration with the private sector to foster financial development and broaden access. The authors illustrate this view with several recent experiences in Latin America and then discuss some open policy questions about the role of the public and private sectors in driving these financial innovations
    URL: Volltext  (Deutschlandweit zugänglich)
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    MPI Ethno. Forsch.
  • 5
    Online Resource
    Online Resource
    The Basic Analytics of Access To Financial Services (2006)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (58 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Beck, Thorsten The Basic Analytics of Access To Financial Services
    Keywords: Bank ; Banks ; Banks and Banking Reform ; Credit Risk ; Debt Markets ; Demand ; Deposit Economic Development ; Economic Theory and Research ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Financial Sector ; Financial Services ; Financial System ; Income ; Interest ; Interest Rate ; Macroeconomics and Economic Growth ; Private Sector Development ; Bank ; Banks ; Banks and Banking Reform ; Credit Risk ; Debt Markets ; Demand ; Deposit Economic Development ; Economic Theory and Research ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Financial Sector ; Financial Services ; Financial System ; Income ; Interest ; Interest Rate ; Macroeconomics and Economic Growth ; Private Sector Development ; Bank ; Banks ; Banks and Banking Reform ; Credit Risk ; Debt Markets ; Demand ; Deposit Economic Development ; Economic Theory and Research ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Literacy ; Financial Sector ; Financial Services ; Financial System ; Income ; Interest ; Interest Rate ; Macroeconomics and Economic Growth ; Private Sector Development
    Abstract: Access to financial services, or rather the lack thereof, is often indiscriminately decried as a problem in many developing countries. The authors argue that the "problem of access" should rather be analyzed by identifying different demand and supply constraints. They use the concept of an access possibilities frontier, drawn for a given set of state variables, to distinguish between cases where a financial system settles below the constrained optimum, cases where this constrained optimum is too low, and-in credit services-cases where the observed outcome is excessively high. They distinguish between payment and savings services and fixed intermediation costs, on the one hand, and lending services and different sources of credit risk, on the other hand. The authors include both supply and demand side frictions that can lead to lower access. The analysis helps identify bankable and banked population, the binding constraint to close the gap between the two, and policies to prudently expand the bankable population. This new conceptual framework can inform the debate on adequate policies to expand access to financial services and can serve as the basis for an informed measurement of access
    URL: Volltext  (Deutschlandweit zugänglich)
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    MPI Ethno. Forsch.
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