Information Asymmetries In Developing Country Financing

Author : Mr.George C. Anayotos
Publisher : International Monetary Fund
Page : 28 pages
File Size : 41,6 Mb
Release : 1994-07-01
Category : Business & Economics
ISBN : 9781451955781

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Information Asymmetries in Developing Country Financing by Mr.George C. Anayotos Pdf

This paper assesses the impact of information asymmetries on developing country financing and considers alternative techniques to reduce the adverse implications of such asymmetries. Following an introduction, Section II examines in general terms the role of information in financial markets and analyzes the incentive and risk sharing properties of alternative financial contracts. Information asymmetries which are present in domestic finance are more prevalent in international finance, in particular in developing country financing. Section III reviews measures aiming to resolve information asymmetries. Borrowing and creditor country regulations and policies, as well as innovative contractual agreements help to resolve a range of issues related to information asymmetries. However, despite their contribution, residual problems remain unresolved. The international financial institutions, and in particular the Fund, have an important role to play in alleviating information asymmetries.

Author : George Anayiotos
Publisher : Unknown
Page : 28 pages
File Size : 46,6 Mb
Release : 2006
Category : Electronic
ISBN : OCLC:1291213067

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Information Asymmetries in Developing Country Financing by George Anayiotos Pdf

This paper assesses the impact of information asymmetries on developing country financing and considers alternative techniques to reduce the adverse implications of such asymmetries. Following an introduction, Section II examines in general terms the role of information in financial markets and analyzes the incentive and risk sharing properties of alternative financial contracts. Information asymmetries which are present in domestic finance are more prevalent in international finance, in particular in developing country financing. Section III reviews measures aiming to resolve information asymmetries. Borrowing and creditor country regulations and policies, as well as innovative contractual agreements help to resolve a range of issues related to information asymmetries. However, despite their contribution, residual problems remain unresolved. The international financial institutions, and in particular the Fund, have an important role to play in alleviating information asymmetries.

Author : George C. Anayiotos,International Monetary Fund. Policy Development and Review Department
Publisher : Unknown
Page : 19 pages
File Size : 44,9 Mb
Release : 1994
Category : Developing countries
ISBN : OCLC:1135272669

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Information Asymmetries in Developing Country Financing by George C. Anayiotos,International Monetary Fund. Policy Development and Review Department Pdf

Author : Joshua Yindenaba Abor,Charles Komla Delali Adjasi,Robert Lensink
Publisher : Routledge
Page : 461 pages
File Size : 51,6 Mb
Release : 2020-12-29
Category : Business & Economics
ISBN : 9780429835254

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Contemporary Issues in Development Finance by Joshua Yindenaba Abor,Charles Komla Delali Adjasi,Robert Lensink Pdf

Contemporary Issues in Development Finance provides comprehensive and up-to-date coverage of theoretical and policy issues in development finance from both the domestic and the external finance perspectives and emphasizes addressing the gaps in financial markets. The chapters cover topical issues such as microfinance, private sector financing, aid, FDI, remittances, sovereign wealth, trade finance, and the sectoral financing of agricultural and infrastructural projects. Readers will acquire both breadth and depth of knowledge in critical and contemporary issues in development finance from a philosophical and yet pragmatic development impact approach. The text ensures this by carefully integrating the relevant theoretical underpinnings, empirical assessments, and practical policy issues into its analysis. The work is designed to be fully accessible to practitioners with only a limited theoretical economic background, allowing them to deeply engage with the book as useful reference material. Readers may find more advanced information and technical details provided in clear, concise boxes throughout the text. Finally, each chapter is fully supported by a set of review questions and by cases and examples from developing countries, particularly those in Africa. This book is a valuable resource for both development finance researchers and students taking courses in development finance, development economics, international finance, financial development policy, and economic policy management. Practitioners will find the development impact, policy, and conceptual analysis dimensions insightful analysing and designing intervention strategies.

Author : Patrick Avato
Publisher : GRIN Verlag
Page : 29 pages
File Size : 45,9 Mb
Release : 2012-05
Category : Business & Economics
ISBN : 9783656180869

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Banks, Informal Money Lenders and Asymmetric Information by Patrick Avato Pdf

Seminar paper from the year 2005 in the subject Economics - Monetary theory and policy, grade: A= 1,0, Johns Hopkins University (School of Advanced International Studies (SAIS)), course: Theories and Models of Economic Development, 29 entries in the bibliography, language: English, abstract: Credit markets in developing countries differ substantially from their counterparts in OECD countries. Apart from the obvious differences in institutional development, technology and productivity which are both measures for and causes of underdevelopment, typ ical LDC credit markets have two main characteristics. Firstly, their financial systems are very small compared those in industrial economies. Secondly, developing countries are characterized by very big informal financial sectors that coexist with formal credit institutions. Interestingly, credit contracts differ highly between these two sectors and there seems to be only very limited inter-sector competition. The following paper ventures to explain the persistence of these peculiarities in rural credit markets1 using the model of asymmetric information in credit markets developed by Stiglitz and Weiss. By applying the model specifically to LDC credit markets I show that asymmetric information is among the major reasons for the underdevelopment of rural credit markets. Building on these findings I then explain how Microfinance Institutions (MFI) have lately been able to overcome some of the problems of imperfect information and strive in markets formerly dominated by informal money lenders. The first part of this paper provides an overview of the typical characteristics of credit markets in developing countries, concentrating on the limited size of LDC credit markets and on the apparent dichotomy between formal and informal finance sectors. Then, the importance of financial systems for economic development is briefly outlined in order to explain the relevance of the topic of this essay. The main part of the paper then pre

Author : Asl? Demirgüç-Kunt
Publisher : World Bank Publications
Page : 55 pages
File Size : 50,9 Mb
Release : 2006
Category : Desarrollo economico
ISBN : 8210379456XXX

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Finance and Economic Development by Asl? Demirgüç-Kunt Pdf

" The empirical literature on finance and development suggests that countries with better developed financial systems experience faster economic growth. Financial development-as captured by size, depth, efficiency, and reach of financial systems-varies sharply around the world, with large differences among countries at similar levels of income. This paper argues that governments play an important role in building effective financial systems and discusses different policy options to make finance work for development."--World Bank web site.

Author : Christopher J. Green,Colin Kirkpatrick,Victor Murinde
Publisher : Edward Elgar Publishing
Page : 465 pages
File Size : 49,6 Mb
Release : 2006-01-01
Category : Business & Economics
ISBN : 9781845424602

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Finance and Development by Christopher J. Green,Colin Kirkpatrick,Victor Murinde Pdf

In this new book a group of 18 distinguished authors presents comprehensive surveys of current issues in the field of finance and development. . . This book nicely bridges the gap between general research on the role of finance for economic growth and the role finance plays for developing economies and poverty reduction. . . Moreover, the authors identify a great number of promising ideas for future research. . . Ryszard Kokoszczynski, SUERF Newsletter The European Money & Finance Forum In the last two decades, the role of finance in the development process has become a major topic of research and debate. Although it is widely agreed that there is an important link between the two, there is much less consensus on the exact nature of the relationship. Is financial development a prerequisite for general economic development, or is it a more passive by-product of the development process? In this valuable new book, a distinguished group of authors takes stock of the existing state of knowledge in the field of finance and the development process. Each chapter offers a comprehensive survey and synthesis of current issues. These include such critical subjects as savings, financial markets and the macroeconomy, stock market development, financial regulation, foreign investment and aid, financing livelihoods, microfinance, rural financial markets, small and medium enterprises, corporate finance and banking. This book will be accessible to postgraduate and advanced undergraduate students of finance and development. It will also be an essential reference source for all professionals and academics working in this area who want to learn how finance can contribute to the development process and poverty reduction.

Author : Aslı Demirgüç-Kunt
Publisher : World Bank Publications
Page : 44 pages
File Size : 45,5 Mb
Release : 1992
Category : Capital investments
ISBN : 8210379456XXX

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developing country capital structures and emerging stock markets by Aslı Demirgüç-Kunt Pdf

Are debt and equity finance complements or substitutes? Probably complements, which means that the existence of active stock markets should increase the volume of business for financial intermediaries.

Author : Thorsten Beck
Publisher : World Bank Publications
Page : 43 pages
File Size : 43,5 Mb
Release : 2006
Category : Capital market
ISBN : 8210379456XXX

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Creating an Efficient Financial System by Thorsten Beck Pdf

Financial sector development fosters economic growth and reduces poverty by widening and broadening access to finance and allocating society's savings more efficiently. The author first discusses three pillars on which sound and efficient financial systems are built: macroeconomic stability and effective and reliable contractual and informational frameworks. He then describes three different approaches to government involvement in the financial sector: the laissez-faire view, the market-failure view and the market-enabling view. Finally, the author analyzes the sequencing of financial sector reforms and discusses the benefits and challenges that emerging markets face when opening their financial systems to international capital markets.

Author : Niels Hermes,Robert Lensink
Publisher : Routledge
Page : 381 pages
File Size : 45,8 Mb
Release : 2013-04-15
Category : Business & Economics
ISBN : 9781135635442

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Financial Development and Economic Growth by Niels Hermes,Robert Lensink Pdf

This collection brings together a collection of theoretical and empirical findings on aspects of financial development and economic growth in developing countries. The book is divided into two parts: the first identifies and analyses the major theoretical issues using examples from developing countries to illustrate how these work in practice; the second part looks at the implications for financial policy in developing countries.

Author : Ricardo N. Bebczuk
Publisher : Cambridge University Press
Page : 176 pages
File Size : 48,6 Mb
Release : 2003-08-21
Category : Business & Economics
ISBN : 0521797322

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Asymmetric Information in Financial Markets by Ricardo N. Bebczuk Pdf

Asymmetric information (the fact that borrowers have better information than their lenders) and its theoretical and practical evidence now forms part of the basic tool kit of every financial economist. It is a phenomenon that has major implications for a number of economic and financial issues ranging from both micro and macroeconomic level - corporate debt, investment and dividend policies, the depth and duration of business cycles, the rate of long term economic growth - to the origin of financial and international crises. Asymmetric Information in Financial Markets aims to explain this concept in an accessible way, without jargon and by reducing mathematical complexity. Using elementary algebra and statistics, graphs, and convincing real-world evidence, the author explores the foundations of the problems posed by asymmetries of information in a refreshingly accessible and intuitive way.

Author : Asli Demirguc-Kunt
Publisher : World Bank Publications
Page : 82 pages
File Size : 49,7 Mb
Release : 2008
Category : Access to Finance
ISBN : 8210379456XXX

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Finance, Financial Sector Policies, and Long-run Growth by Asli Demirguc-Kunt Pdf

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.

Author : OECD
Publisher : OECD Publishing
Page : 112 pages
File Size : 49,7 Mb
Release : 2023-11-16
Category : Electronic
ISBN : 9789264489998

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Green Finance and Investment Scaling Up the Mobilisation of Private Finance for Climate Action in Developing Countries Challenges and Opportunities for International Providers by OECD Pdf

This report explores evidence-based action areas to increase and accelerate the mobilisation of private finance for climate action in developing countries, and the role of international public finance providers in doing so.

Author : Ross Levine
Publisher : World Bank Publications
Page : 84 pages
File Size : 44,7 Mb
Release : 2024-06-16
Category : Electronic
ISBN : 8210379456XXX

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Financial Development and Economic Growth by Ross Levine Pdf

The International Monetary Fund (IMF) presents the full text of the December 2000 paper entitled "Financial Development and Economic Growth: An Overview," prepared by Mohsin S. Khan and Abdelhak S. Senhadji. The text is available in PDF format and the paper is part of the IMF's Working Paper series. This paper provides a review of literature on financial markets and discusses the relationship between financial development and economic growth.

Author : Mr.Omotunde E. G. Johnson
Publisher : International Monetary Fund
Page : 31 pages
File Size : 46,9 Mb
Release : 1990-12-01
Category : Business & Economics
ISBN : 9781451939163

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Financial Market Constraints and Private Investment in a Developing Country by Mr.Omotunde E. G. Johnson Pdf

Firms in developing countries that seek outside financing for investment must often choose their debt-equity combinations in the face of financial market constraints on debt service, on outside equity financing, and on internal finance (endowments). Inefficiencies in the allocation of available finance and in the equity-debt choices that can ensue can be prevented by appropriate policy measures to improve information on profitable investment opportunities and about firms; to directly strengthen financial intermediation; and to support appropriate credit guarantee schemes.