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Author : Anonim
Publisher : Unknown
Page : 35 pages
File Size : 53,7 Mb
Release : 2000
Category : Electronic
ISBN : OCLC:924012117
Author : Eugene Nivorozhkin
Publisher : Unknown
Page : 31 pages
File Size : 47,8 Mb
Release : 2003
Category : Capital investments
ISBN : 9516868525
This paper uses a dynamic unrestricted capital structure model to examine the determinants of the private companies' target financial leverage and the speed of adjustment to it in two transition economies, the Czech Republic and Bulgaria. We explicitly model the adjustment of companies' leverage to a target leverage, and this target leverage is itself explained by a set of factors. The panel data methodology combines cross-section and time-series information. The results indicate that the Bulgarian corporate credit markets were less supply-constrained than those of the Czech Republic during the period under investigation. Bulgarian companies adjusted much faster to the target leverage than Czech firms. The speed of adjustment related positively to the distance between target and observed ratio for Bulgarian companies while the relationship was neutral for Czech companies. The conservative policies of Czech banks and the exposure control were likely responsible for the slower adjustment among the larger companies while the opposite were true for Bulgarian banks and companies. Published in: Economics of Planning vol 37, no 1 (2004) pp. 25-45, ISSN 0013-0451.
Author : Harald Hagemann,Roberto Scazzieri
Publisher : Routledge
Page : 345 pages
File Size : 53,8 Mb
Release : 2009-01-13
Category : Business & Economics
ISBN : 9781134158027
In the words of Robert M. Solow traverse analysis "is the easiest part of skiing, but the hardest part of economics". The aim of this volume is to assess the state and scope of modern traverse analysis as it had been initiated by John Hicks in his pioneering contribution Capital and Time (1973). The analysis of an economy which originally had been in a growth equilibrium which was disturbed by technical progress is one of the most challenging problems in economics. This book takes Hicks’ work as the point of departure for theoretical work on the macroeconomic theory of capital dynamics along transition non-steady state paths The original contributions in this volume explore the manifold theoretical roots of traverse analysis in classical and post-classical literature, its features as a specific method of economic dynamics, and its applications in a variety of fields from monetary economics to development and international economics. The essays thereby focus on the ways ahead from Capital and Time that have been suggested and actively pursued by a number of scholars in recent years. Its central theme is the role of capital structures as critical factors in determining the actual dynamics of any given economic system. This volume is inspired by the belief that this state of affairs is not a satisfactory one, and outlines a new agenda for capital theory. Contributors include Edwin Burmeister, Jean-Luc Gaffard and Heinz Kurz.
Author : Karin Jõeveer
Publisher : Unknown
Page : 32 pages
File Size : 51,7 Mb
Release : 2006
Category : Capital market
ISBN : WISC:89101294908
Author : Karin Joeveer
Publisher : Unknown
Page : 29 pages
File Size : 46,5 Mb
Release : 2008
Category : Electronic
ISBN : OCLC:1290300503
This study explores the significance of firm-specific, institutional, and macroeconomic factors in explaining variation in leverage using a sample of firms from nine Eastern European countries. Country-specific factors are the main determinants of variation in leverage for small unlisted companies, while firm-specific factors explain most of the variation in leverage for listed and large unlisted companies. Around half of the variation in leverage related to country factors is explained by known macroeconomic and institutional factors, while the remainder is explained by unmeasurable institutional differences (e.g. law and enforcement). These findings are in line with the results for Western European countries in Jotilde;eveer (2005) and show that country characteristics are not more significant determinants of leverage in these transition economies.
Author : Aleksandr V. Gevorkyan
Publisher : Routledge
Page : 272 pages
File Size : 50,5 Mb
Release : 2018-04-17
Category : Business & Economics
ISBN : 9781317567943
This interdisciplinary study offers a comprehensive analysis of the transition economies of Central and Eastern Europe and the former Soviet Union. Providing full historical context and drawing on a wide range of literature, this book explores the continuous economic and social transformation of the post-socialist world. While the future is yet to be determined, understanding the present phase of transformation is critical. The book’s core exploration evolves along three pivots of competitive economic structure, institutional change, and social welfare. The main elements include analysis of the emergence of the socialist economic model; its adaptations through the twentieth century; discussion of the 1990s market transition reforms; post-2008 crisis development; and the social and economic diversity in the region today. With an appreciation for country specifics, the book also considers the urgent problems of social policy, poverty, income inequality, and labor migration. Transition Economies will aid students, researchers and policy makers working on the problems of comparative economics, economic development, economic history, economic systems transition, international political economy, as well as specialists in post-Soviet and Central and Eastern European regional studies.
Author : Klaus Hammes
Publisher : Department of Economics School of Economics and Commercial Law Go
Page : 188 pages
File Size : 53,8 Mb
Release : 2003
Category : Capital investments
ISBN : UOM:39015061754118
Author : M. Ayhan Kose,Peter Nagle,Franziska Ohnsorge,Naotaka Sugawara
Publisher : World Bank Publications
Page : 403 pages
File Size : 53,7 Mb
Release : 2021-03-03
Category : Business & Economics
ISBN : 9781464815454
The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Author : Justin Yifu Lin
Publisher : World Bank Publications
Page : 389 pages
File Size : 44,6 Mb
Release : 2012-01-01
Category : Business & Economics
ISBN : 9780821389577
This book provides an innovative framework to analyze the process of industrial upgrading and diversification, a key feature of economic development. Based on this framework, it provides concrete advice to development practitioners and policy makers on how to unleash a country's growth potential.
Author : Mr. Ross Levine
Publisher : International Monetary Fund
Page : 80 pages
File Size : 50,6 Mb
Release : 2021-06-11
Category : Business & Economics
ISBN : 9781513583365
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 : John Rand,Finn Tarp
Publisher : Oxford University Press
Page : 296 pages
File Size : 42,9 Mb
Release : 2020
Category : Business & Economics
ISBN : 9780198851189
This is an open access title available under the terms of a CC BY-NC-ND 3.0 IGO licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. Micro, Small, and Medium Enterprises in Vietnam provides a comprehensive analytic contribution to a crucial topic within development economics. Based on fifteen years of continued data collection and research efforts it brings together nine up-to-date studies on micro, small, and medium enterprise (SME) development in a coherent framework to help persuade national and international policymakers of the need to take the international call for a data revolution seriously. This edited volume provides an in-depth evaluation of the development of private sector formal and informal manufacturing SMEs in Vietnam over the past decade, combining a unique primary data source with the best panel data and analytical tools available. It generates a comprehensive understanding of the impact of business risks, credit access, institutional characteristics, and government policies, and makes available a set of materials and studies of use to academics, students, and development practitioners interested in an integrated approach to the study of growth, private sector development, and the microeconomic analysis of SME development in a fascinating developing country. Micro, Small, and Medium Enterprises in Vietnam serves as a lense through which other countries, and the international development community at large, may wish to approach the massive task of pursuing a meaningful data revolution as an integral element of the Sustainable Development Goals agenda.
Author : Egor Timurovich Gaĭdar
Publisher : MIT Press
Page : 1066 pages
File Size : 43,6 Mb
Release : 2003
Category : Business & Economics
ISBN : 026207219X
This collection of essays discuss the economic policy problems that confront postcommunist countries. Most chapters focus on liberalization of the exchange rate and trade system, macroeconomic stabilization, and institutional reform.
Author : Gérard Roland
Publisher : MIT Press
Page : 440 pages
File Size : 42,5 Mb
Release : 2000
Category : Business & Economics
ISBN : 026268148X
The transition from socialism to capitalism in former socialist economies has transformed the economic structure. This book provides an overview of research on the issues raised by the shift from collective to private ownership.
Author : Nina Budina,Harry Garretsen,Eelke de Jong
Publisher : World Bank Publications
Page : 30 pages
File Size : 41,8 Mb
Release : 2000
Category : Banks and Banking Reform
ISBN : 8210379456XXX
"In Bulgaria and other transition economies, liquidity constraints and hence access to external funds must be seen in the context of soft budget constraints and the financial system's failure to enforce the efficient allocation of funds. Liquidity constraints in Bulgaria may be seen as a sign of financial weakness"--Cover.
Author : Nufazil Altaf,Farooq Ahmad Shah
Publisher : Springer Nature
Page : 117 pages
File Size : 51,9 Mb
Release : 2020-12-10
Category : Business & Economics
ISBN : 9789813342767
This book examines the capital structure dynamics in Indian MSMEs, offering empirical evidence to better understand the financial practices within entrepreneurial settings. Altaf and Shah in this book assess the financing pattern of Indian MSMEs, response of capital structure determinants to different macroeconomic states, links between working capital and capital structure, cash flow volatility and capital structure and also the impact of credit risk on capital structure and firm performance relationship. This book enthuses the audience looking to understand newer dynamics of capital structure and its interplay in the Indian MSMEs.