Financial Innovations And The Welfare Of Nations

Author : Laurent L. Jacque,Paul M. Vaaler
Publisher : Springer Science & Business Media
Page : 364 pages
File Size : 45,5 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9781461516231

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Financial Innovations and the Welfare of Nations by Laurent L. Jacque,Paul M. Vaaler Pdf

The central question addressed in Financial Innovations and the Welfare of Nations is how the transfer of financial innovations from developed to developing economies can nurture the dynamics of emerging capital markets. National capital markets can be positioned along a continuum ranging from embryonic to mature and emerged markets according to a decreasing "national cost of capital" criterion. In the introductory chapter Laurent Jacque argues that newly emerging countries are handicapped by a high cost of capital due to "incomplete" and inefficient financial markets. As capital markets graduate to higher level of "emergedness", their national firms avail themselves of a lower cost of capital that makes them more competitive in the global economy and spurs economic growth. Skillful transfer of financial innovations to emerging markets often encourages the deregulation of the country's financial services sector. This results into new conduits for a more efficient capital allocation process such as commercial paper, securitized consumer finance and other disintermediated modes of financing which out-compete traditional financial intermediaries (mostly commercial banks), reduce households' cost of living and conjointly fuel the dynamics of emerging markets. Our response to the central question of how the transfer of financial innovations can enhance the Wealth of Nations is to show that it reduces the cost of capital while not unduly increasing systemic risk. Part I examines the relationship between financial innovations and systemic risk of the international financial system.

Author : Franklin Allen,Glenn Yago
Publisher : Pearson Prentice Hall
Page : 262 pages
File Size : 44,8 Mb
Release : 2010-03-23
Category : Business & Economics
ISBN : 9780137083312

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Financing the Future by Franklin Allen,Glenn Yago Pdf

Financial innovation can drive social, economic, and environmental change, transforming ideas into new technologies, industries, and jobs. But when it is misunderstood or mismanaged, the consequences can be severe. In this practical, accessible book, two leading experts explain how sophisticated capital structures can enable companies and individuals to raise funding in larger amounts for longer terms and at lower cost—accomplishing tasks that would otherwise be impossible. The authors recount the history and basic principles of financial innovation, showing how new instruments have evolved, and how they have been used and misused. They thoroughly demystify complex capital structures, offering a practical toolbox for entrepreneurs, corporate executives, and policymakers. Financing the Future presents clear, thorough discussions of the current role of financial innovation in capitalizing businesses, industries, breakthrough technologies, housing solutions, medical treatments, and environmental projects. It also presents a full chapter of lessons learned: essential insights for stabilizing the economy and avoiding pitfalls. Distinguishing genuine innovation from dangerous copycats Crafting sustainable financial innovations that add value and manage risk The best tools for the job: choosing them, customizing them, using them Selecting the right instruments and structures, and making the most of them Financial innovations for business, housing, and medical research Finding new and better ways to promote entrepreneurship and advance social goals Innovating to save the planet and help humanity The power of finance to protect natural resources and alleviate global poverty This is the first in a new series of books on financial innovation, published through a collaboration between Wharton School Publishing and the Milken Institute. Future titles will focus on specific policy areas such as housing and medical research. The Milken Institute is an independent economic think tank whose mission is to improve the lives and economic conditions of diverse populations in the United States and around the world by helping business and public policy leaders identify and implement innovative ideas for creating broad-based prosperity. It puts research to work with the goal of revitalizing regions and finding new ways to generate capital for people with original ideas.

Author : Adam Smith
Publisher : Unknown
Page : 522 pages
File Size : 44,5 Mb
Release : 1822
Category : Economics
ISBN : UCAL:$B87540

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An Inquiry Into the Nature and Causes of the Wealth of Nations by Adam Smith Pdf

Author : Kozulj, Roberto
Publisher : Editorial UNRN
Page : 225 pages
File Size : 46,6 Mb
Release : 2019-09-18
Category : Political Science
ISBN : 9789874960153

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How to achieve the welfare state in the twenty-first century by Kozulj, Roberto Pdf

Kozulj proposes a bold and vital idea: if the activities linked to urban development were reoriented towards the construction and reconstruction of sustainable cities, this would tend to solve a large part of the problem of structural unemployment,

Author : Engelbert Stockhammer
Publisher : Springer
Page : 329 pages
File Size : 55,8 Mb
Release : 2013-12-03
Category : Business & Economics
ISBN : 9781137357939

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Wage-Led Growth by Engelbert Stockhammer Pdf

This volume seeks to go beyond the microeconomic view of wages as a cost having negative consequences on a given firm, to consider the positive macroeconomic dynamics associated with wages as a major component of aggregate demand.

Author : Abdullahi Dahir Ahmed,Sardar M. N. Islam
Publisher : Springer Science & Business Media
Page : 303 pages
File Size : 54,9 Mb
Release : 2009-10-03
Category : Business & Economics
ISBN : 9783790821680

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Financial Liberalization in Developing Countries by Abdullahi Dahir Ahmed,Sardar M. N. Islam Pdf

The recent global ?nancial crisis has made ?nancial liberalization a topic of great academic and practical interest. This book makes new contributions to the topic by combining fact-?nding, empirical analysis, and theory to examine the relationship between ?nancial liberalization and economic growth. Among its contributions, the book provides detailed country assessments on the effects of ?nancial liberalization, including its striking impact on the banking sector. Although an important goal of ?nancial deregulation has been to help ?nancial institutions better perform their role in intermediating resources, the book models how deregulation may fail to achieve that goal in countries with underdeveloped ?nancial markets and institutions. For that purpose, the book draws on actual experience in Kenya, Malawi, Botswana, and Thailand. This book should constitute important reading for students of ?nancial economics, researchers and general academics, ?nancial practitioners, policymakers, and teachers of economics. North Carolina, USA Steven L. Schwarcz December 2008 Stanley A. Star Professor of Law & Business, Duke University Founding Director, Duke Global Capital Markets Center Durham vii Abstract and Preface The latest global ?nancial and economic crisis of 2008 shows the need to - examine the desirability of ?nancial liberalization and the basis for the view that ?nancial deregulation by itself cannot be considered as a substitute for better economic management. The literature on ?nancial liberalization has identi?ed various mechanisms through which removing controls on interest rates may impact economic growth.

Author : Asli Demirguc-Kunt,Leora Klapper,Dorothe Singer,Saniya Ansar
Publisher : World Bank Publications
Page : 148 pages
File Size : 45,9 Mb
Release : 2018-04-19
Category : Business & Economics
ISBN : 9781464812682

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The Global Findex Database 2017 by Asli Demirguc-Kunt,Leora Klapper,Dorothe Singer,Saniya Ansar Pdf

In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.

Author : Mr. Ross Levine
Publisher : International Monetary Fund
Page : 80 pages
File Size : 53,9 Mb
Release : 2021-06-11
Category : Business & Economics
ISBN : 9781513583365

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Finance, Growth, and Inequality by Mr. Ross Levine Pdf

Finance and growth emerged as a distinct field of economics during the last three decades as economists integrated the fields of finance and economic growth and then explored the ramifications of the functioning of financial systems on economic growth, income distribution, and poverty. In this paper, I review theoretical and empirical research on the connections between the operation of the financial system and economic growth and inequality. While subject to ample qualifications, the preponderance of evidence suggests that (1) financial development—both the development of banks and stock markets—spurs economic growth and (2) better functioning financial systems foster growth primarily by improving resource allocation and technological change, not by increasing saving rates. Some research also suggests that financial development expands economic opportunities and tightens income distribution, primarily by boosting the incomes of the poor. This work implies that financial development fosters growth by expanding opportunities. Finally, and more tentatively, financial innovation—improvements in the ability of financial systems to ameliorate information and transaction costs—may be necessary for sustaining growth.

Author : National Bureau of Economic Research
Publisher : Princeton University Press
Page : 647 pages
File Size : 55,7 Mb
Release : 2015-12-08
Category : Political Science
ISBN : 9781400879762

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The Rate and Direction of Inventive Activity by National Bureau of Economic Research Pdf

The papers here range from description and analysis of how our political economy allocates its inventive effort, to studies of the decision making process in specific industrial laboratories. Originally published in 1962. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Author : Anonim
Publisher : Unknown
Page : 680 pages
File Size : 42,9 Mb
Release : 1976
Category : Banks and banking
ISBN : UCR:31210002442810

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Financial Institutions and the Nation's Economy: Depository institutions and housing by Anonim Pdf

Author : Anonim
Publisher : Unknown
Page : 1154 pages
File Size : 49,7 Mb
Release : 1976
Category : Banks and banking, International
ISBN : STANFORD:36105112086363

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Financial Institutions and the Nation's Economy by Anonim Pdf

Author : United States. Congress. House. Committee on Banking, Currency, and Housing
Publisher : Unknown
Page : 1148 pages
File Size : 55,7 Mb
Release : 1976
Category : Banks and banking
ISBN : UCAL:B4729325

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Financial Institutions and the Nations's Economy by United States. Congress. House. Committee on Banking, Currency, and Housing Pdf

Author : Dinçer, Hasan,Yüksel, Serhat
Publisher : IGI Global
Page : 641 pages
File Size : 53,5 Mb
Release : 2018-12-07
Category : Business & Economics
ISBN : 9781522571810

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Handbook of Research on Managerial Thinking in Global Business Economics by Dinçer, Hasan,Yüksel, Serhat Pdf

In a highly competitive global market, companies need to equip themselves with best practices and strategies to survive. Strategic management, innovative managerial thinking, and a clear decision-making process must be utilized to boost company performance and ultimately drive the company’s success. The Handbook of Research on Managerial Thinking in Global Business Economics identifies the importance of strategic decision making in competitive environments and analyzes the impacts of managerial thinking on global financial economics. The content within this publication examines globalization, consumer behavior, and risk management. It is designed for researchers, academicians, policymakers, government officials, and managers, and covers topics centered on innovation and development within organizations.

Author : Anonim
Publisher : Unknown
Page : 382 pages
File Size : 45,6 Mb
Release : 1975
Category : Banks and banking
ISBN : STANFORD:36105044729080

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Financial Institutions and the Nation's Economy (FINE) by Anonim Pdf

Author : Daron Acemoglu,James A. Robinson
Publisher : Currency
Page : 546 pages
File Size : 43,8 Mb
Release : 2013-09-17
Category : Business & Economics
ISBN : 9780307719225

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Why Nations Fail by Daron Acemoglu,James A. Robinson Pdf

Brilliant and engagingly written, Why Nations Fail answers the question that has stumped the experts for centuries: Why are some nations rich and others poor, divided by wealth and poverty, health and sickness, food and famine? Is it culture, the weather, geography? Perhaps ignorance of what the right policies are? Simply, no. None of these factors is either definitive or destiny. Otherwise, how to explain why Botswana has become one of the fastest growing countries in the world, while other African nations, such as Zimbabwe, the Congo, and Sierra Leone, are mired in poverty and violence? Daron Acemoglu and James Robinson conclusively show that it is man-made political and economic institutions that underlie economic success (or lack of it). Korea, to take just one of their fascinating examples, is a remarkably homogeneous nation, yet the people of North Korea are among the poorest on earth while their brothers and sisters in South Korea are among the richest. The south forged a society that created incentives, rewarded innovation, and allowed everyone to participate in economic opportunities. The economic success thus spurred was sustained because the government became accountable and responsive to citizens and the great mass of people. Sadly, the people of the north have endured decades of famine, political repression, and very different economic institutions—with no end in sight. The differences between the Koreas is due to the politics that created these completely different institutional trajectories. Based on fifteen years of original research Acemoglu and Robinson marshall extraordinary historical evidence from the Roman Empire, the Mayan city-states, medieval Venice, the Soviet Union, Latin America, England, Europe, the United States, and Africa to build a new theory of political economy with great relevance for the big questions of today, including: - China has built an authoritarian growth machine. Will it continue to grow at such high speed and overwhelm the West? - Are America’s best days behind it? Are we moving from a virtuous circle in which efforts by elites to aggrandize power are resisted to a vicious one that enriches and empowers a small minority? - What is the most effective way to help move billions of people from the rut of poverty to prosperity? More philanthropy from the wealthy nations of the West? Or learning the hard-won lessons of Acemoglu and Robinson’s breakthrough ideas on the interplay between inclusive political and economic institutions? Why Nations Fail will change the way you look at—and understand—the world.