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  • 1
    Online Resource
    Online Resource
    Trade Credit : Theory and Evidence for Emerging Economies and Developing Countries (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (31 pages)
    Parallel Title: Erscheint auch als Cull, Robert Trade Credit: Theory and Evidence for Emerging Economies and Developing Countries
    Keywords: Access To Finance ; Banking Institutions ; Capital Markets and Capital Flows ; Finance and Financial Sector Development ; Financial Development and Growth ; International Trade ; Medium-Sized Firms ; Private Sector Development ; Trade Credit
    Abstract: Trade credit remains an important source of finance for firms in developing countries and many firms in developed countries, especially those that are young, small, or informationally opaque for other reasons. This paper summarizes the literature and explains the pervasiveness of trade credit, detailing its potential advantages over formal credit in terms of the information that buyers and sellers have about each other and their ability to monitor one another. Because it requires less formal contract enforcement, trade credit can be especially relevant where the rule of law and the legal system are weak. At the same time, reliance on information from social networks and informal institutional arrangements limits the scale of trade credit, and thus moderate improvements to formal enforcement can expand trade credit beyond social networks and enable customers to switch suppliers, which improves their credit terms. The patterns suggest a sweet spot or "Goldilocks" region where mid-size firms and those in countries at middling levels of development tend to rely relatively more heavily on trade credit than others. Going forward, detailed data on the relationship between suppliers and customers are crucial to enable more direct tests of theoretical predictions regarding trade credit
    DOI: 10.1596/1813-9450-10468
    URL: Deutschlandweit zugänglich
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    MPI Ethno. Forsch.
  • 2
    Online Resource
    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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    MPI Ethno. Forsch.
  • 3
    Online Resource
    Online Resource
    Formal Finance And Trade Credit During China's Transition (2007)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (36 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Zhu, Tian Formal Finance And Trade Credit During China's Transition
    Keywords: Access To Cred Bank ; Banks and Banking Reform ; Business School ; Buyers ; Cred Customers ; Debt Markets ; Economic Activity ; Economic Theory and Research ; Finance ; Finance and Financial Sector Development ; Financial Crisis Management and Restructuring ; Financial Institutions ; Financial Intermediaries ; Financial Intermediation ; Financial Literacy ; Financial Support ; Information ; Investment and Investment Climate ; Loans ; Macroeconomics and Economic Growth ; Private Sector Development ; Access To Cred Bank ; Banks and Banking Reform ; Business School ; Buyers ; Cred Customers ; Debt Markets ; Economic Activity ; Economic Theory and Research ; Finance ; Finance and Financial Sector Development ; Financial Crisis Management and Restructuring ; Financial Institutions ; Financial Intermediaries ; Financial Intermediation ; Financial Literacy ; Financial Support ; Information ; Investment and Investment Climate ; Loans ; Macroeconomics and Economic Growth ; Private Sector Development ; Access To Cred Bank ; Banks and Banking Reform ; Business School ; Buyers ; Cred Customers ; Debt Markets ; Economic Activity ; Economic Theory and Research ; Finance ; Finance and Financial Sector Development ; Financial Crisis Management and Restructuring ; Financial Institutions ; Financial Intermediaries ; Financial Intermediation ; Financial Literacy ; Financial Support ; Information ; Investment and Investment Climate ; Loans ; Macroeconomics and Economic Growth ; Private Sector Development
    Abstract: Using a large panel dataset of Chinese industrial firms, the authors examine the determinants of access to loans from formal financial intermediaries and extension of trade credit. Poorly performing state-owned enterprises were more likely to redistribute credit to firms with less privileged access to loans through trade credit, a pattern consistent with some of the extension of trade credit being involuntary. By contrast, profitable private domestic firms were more likely to extend trade credit than unprofitable ones. Trade credit likely provided a substitute for loans for these private firms' customers that were shut out of formal credit markets. As biases in lending became less severe, the amount of trade credit extended by private firms declined
    URL: Volltext  (Deutschlandweit zugänglich)
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    MPI Ethno. Forsch.
  • 4
    Online Resource
    Online Resource
    Bank Privatization In Sub-Saharan Africa : The Case of Uganda Commercial Bank (2007)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (46 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Clarke, George R.G Bank Privatization In Sub-Saharan Africa
    Keywords: Access to Finance ; Bank Privatization ; Banking Sector ; Bankruptcy and Resolution of Financial Distress ; Banks ; Banks and Banking Reform ; Debt Markets ; Emerging Markets ; Finance and Financial Sector Development ; Financial Crises ; Financial Services ; Financial Systems ; Income Statements ; Private Banks ; Private Sector Development ; Productivity ; Profitability ; Access to Finance ; Bank Privatization ; Banking Sector ; Bankruptcy and Resolution of Financial Distress ; Banks ; Banks and Banking Reform ; Debt Markets ; Emerging Markets ; Finance and Financial Sector Development ; Financial Crises ; Financial Services ; Financial Systems ; Income Statements ; Private Banks ; Private Sector Development ; Productivity ; Profitability ; Access to Finance ; Bank Privatization ; Banking Sector ; Bankruptcy and Resolution of Financial Distress ; Banks ; Banks and Banking Reform ; Debt Markets ; Emerging Markets ; Finance and Financial Sector Development ; Financial Crises ; Financial Services ; Financial Systems ; Income Statements ; Private Banks ; Private Sector Development ; Productivity ; Profitability
    Abstract: Previous empirical analyses have found that bank privatizations are more successful when the government fully relinquishes control, when the bank is privatized to a strategic investor, and when foreign-owned banks are allowed to participate in the bidding. The privatization of Uganda Commercial Bank (UCB) to the South African bank Stanbic met all these criteria, suggesting that it is a likely candidate for success. But other features suggest reasons for caution: UCB dominated the Ugandan banking sector prior to privatization and the institutional environment in Uganda was less favorable than in many of the middle-income countries looked at in earlier empirical studies. Despite these concerns, the privatization appears to have been relatively successful. The portfolio of the privatized bank, which was cleaned prior to sale, remains relatively strong and profitability and credit growth are now on par with other Ugandan banks. Though market segmentation remains a concern since Stanbic faces little or no direct competition in many remote areas, some early results suggest that access to credit has improved for some hard-to-serve groups
    URL: Volltext  (Deutschlandweit zugänglich)
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    MPI Ethno. Forsch.
  • 5
    Online Resource
    Online Resource
    Foreign Bank Participation And Crises In Developing Countries (2007)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (43 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Cull, Robert Foreign Bank Participation And Crises In Developing Countries
    Keywords: Bank ; Bank Acquisitions ; Bank For International Settlements ; Bank Mergers ; Bank of Greece ; Banking ; Banking Crises ; Banking Sector ; Banks and Banking Reform ; Cred Distressed Banks ; Debt Markets ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Interest ; Financial Literacy ; Foreign Direct Investment ; International Economics & Trade ; Private Sector Development ; Bank ; Bank Acquisitions ; Bank For International Settlements ; Bank Mergers ; Bank of Greece ; Banking ; Banking Crises ; Banking Sector ; Banks and Banking Reform ; Cred Distressed Banks ; Debt Markets ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Interest ; Financial Literacy ; Foreign Direct Investment ; International Economics & Trade ; Private Sector Development ; Bank ; Bank Acquisitions ; Bank For International Settlements ; Bank Mergers ; Bank of Greece ; Banking ; Banking Crises ; Banking Sector ; Banks and Banking Reform ; Cred Distressed Banks ; Debt Markets ; Emerging Markets ; Finance ; Finance and Financial Sector Development ; Financial Interest ; Financial Literacy ; Foreign Direct Investment ; International Economics & Trade ; Private Sector Development
    Abstract: This paper describes the recent trends in foreign bank ownership in developing countries, summarizes the existing evidence on the causes and implications of foreign bank presence, and reexamines the link between banking crises and foreign bank participation. Using data on the share of banking sector assets held by foreign banks in over 100 developing countries during 1995-2002, the results show that countries that experienced a banking crisis tended to have higher levels of foreign bank participation than those that did not. Furthermore, panel regressions indicate that foreign participation increased as a result of crises rather than prior to them. However, post-crisis increases in foreign participation did not coincide with increased credit to the private sector, perhaps because in many cases foreign banks acquired distressed banks
    URL: Volltext  (Deutschlandweit zugänglich)
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    MPI Ethno. Forsch.
  • 6
    Online Resource
    Online Resource
    World Bank Lending and Financial Sector Development (2005)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: Online-Ressource (1 online resource (37 p.))
    Edition: Online-Ausg. World Bank E-Library Archive
    Parallel Title: Cull, Robert World Bank Lending and Financial Sector Development
    Keywords: Adjustment ; Adjustment Loan ; Adjustment Loans ; Banks and Banking Reform ; Borrower ; Borrowers ; Borrowing ; Borrowing Countries ; Conditionality ; Country Strategy and Performance ; Debt Markets ; Development Economics ; Economic Adjustment and Lending ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Institutions ; Financial Literacy ; Funds ; Grants ; Lending Programs ; Lending Rate ; Lending Services ; Macroeconomics and Economic Growth ; Poverty Reduction ; Private Sector Development ; Pro-Poor Growth ; Structural Adjustment Loans ; Technical Assistance Loans ; World Bank ; World Bank Lending ; World Bank Loans ; Adjustment ; Adjustment Loan ; Adjustment Loans ; Banks and Banking Reform ; Borrower ; Borrowers ; Borrowing ; Borrowing Countries ; Conditionality ; Country Strategy and Performance ; Debt Markets ; Development Economics ; Economic Adjustment and Lending ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Institutions ; Financial Literacy ; Funds ; Grants ; Lending Programs ; Lending Rate ; Lending Services ; Macroeconomics and Economic Growth ; Poverty Reduction ; Private Sector Development ; Pro-Poor Growth ; Structural Adjustment Loans ; Technical Assistance Loans ; World Bank ; World Bank Lending ; World Bank Loans ; Adjustment ; Adjustment Loan ; Adjustment Loans ; Banks and Banking Reform ; Borrower ; Borrowers ; Borrowing ; Borrowing Countries ; Conditionality ; Country Strategy and Performance ; Debt Markets ; Development Economics ; Economic Adjustment and Lending ; Economic Theory and Research ; Emerging Markets ; Finance and Financial Sector Development ; Financial Institutions ; Financial Literacy ; Funds ; Grants ; Lending Programs ; Lending Rate ; Lending Services ; Macroeconomics and Economic Growth ; Poverty Reduction ; Private Sector Development ; Pro-Poor Growth ; Structural Adjustment Loans ; Technical Assistance Loans ; World Bank ; World Bank Lending ; World Bank Loans
    Abstract: Using a new database of World Bank loans to support financial sector development, the authors investigate whether countries that received such loans experienced more rapid growth on standard indicators of financial development than countries that did not. They account for self-selection with treatment effects regressions, and also use propensity score matching techniques. The authors ' results indicate that borrowing countries had significantly more rapid growth in M2/GDP than non-borrowers, and swifter reductions in interest rate spreads and cash holdings (as a share of M2). Borrowers also had higher private credit growth rates than non-borrowers in treatment effects regressions, but not in standard panel regressions with fixed country effects. On the whole, however, the results indicate significant advantages for borrowers over non-borrowers in terms of financial development
    URL: Volltext  (Deutschlandweit zugänglich)
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    MPI Ethno. Forsch.
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