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  • Stabi Berlin  (5)
  • Singh, Raju Jan  (5)
  • Open access  (5)
  • Licensed
  • 1
    Online Resource
    Online Resource
    Financial deepening, terms of trade shocks, and growth volatility in low-income countries (2019)
    [Washington, DC] : International Monetary Fund
    Details
    UID:
    gbv_1666514527
    Format: 1 Online-Ressource (circa 36 Seiten) , Illustrationen
    ISBN: 9781498303569
    Series Statement: IMF working paper WP/19, 68
    Content: This paper contributes to the literature by looking at the possible relevance of the structure of the financial system-whether financial intermediation is performed through banks or markets-for macroeconomic volatility, against the backdrop of increased policy attention on strengthening growth resilience. With low-income countries (LICs) being the most vulnerable to large and frequent terms of trade shocks, the paper focuses on a sample of 38 LICs over the period 1978-2012 and finds that banking sector development acts as a shock-absorber in poor countries, dampening the transmission of terms of trade shocks to growth volatility. Expanding the sample to 121 developing countries confirms this result, although this role of shock-absorber fades away as economies grow richer. Stock market development, by contrast, appears neither to be a shock-absorber nor a shock-amplifier for most economies. These findings are consistent across a range of econometric estimators, including fixed effect, system GMM and local projection estimates
    Additional Edition: Erscheint auch als Druck-Ausgabe Kpodar, Kangni Financial Deepening, Terms of Trade Shocks, and Growth Volatility in Low-Income Countries Washington, D.C. : International Monetary Fund, 2019 ISBN 9781498303569
    Language: English
    Keywords: Graue Literatur
    DOI: 10.5089/9781498303569.001
    URL: kostenfrei
    URL: Volltext  (kostenfrei)
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  • 2
    Online Resource
    Online Resource
    Determinants and Macroeconomic Impact of Remittances in Sub-Saharan Africa (2011)
    Details
    UID:
    gbv_1017851883
    Format: Online-Ressource
    Content: This paper investigates the determinants and the macroeconomic role of remittances in sub-Saharan Africa. It assembles the most comprehensive data set available so far on remittances in the region; it comprises data for 36 countries for 1990 through 2008, and incorporates newly available data on the size and location of the diaspora. We find that remittances are larger for countries with a larger diaspora or when the diaspora is located in wealthier countries, and that they behave counter-cyclically, consistent with a role as a shock absorber. Although the effect of remittances in growth regressions is negative, countries with well functioning domestic institutions seem nevertheless to be better at unlocking the potential for remittances to contribute to faster economic growth.
    Language: English
    URL: Volltext  (kostenfrei)
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  • 3
    Online Resource
    Online Resource
    Does Financial Structure Matter for Poverty? Evidence from Developing Countries (2012)
    [Erscheinungsort nicht ermittelbar]
    Details
    UID:
    gbv_797522476
    Format: Online-Ressource
    Series Statement: Policy Research working paper WPS 5915
    Content: Although there has been research looking at the relationship between the structure of the financial system and economic growth, much less work has dealt with the importance of bank-based versus market-based financial systems for poverty and income distribution. Empirical evidence has indicated that the structure of the financial system has little relevance for economic growth, suggesting that the same could be true for poverty since growth is an important driver in reducing poverty. Some theories, however, claim that, by reducing information and transaction costs, the development of bank-based financial systems could exert a particularly large impact on the poor. This paper looks at a sample of 47 developing economies from 1984 through 2008. The results suggest that when institutions are weak, bank-based financial systems are better at reducing poverty and, as institutions develop, market-based financial systems can turn out to be beneficial for the poor.
    Note: English
    Language: English
    URL: Volltext  (kostenfrei)
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  • 4
    Online Resource
    Online Resource
    Does Migration Foster Exports? Evidence from Africa (2014)
    Washington, DC : World Bank
    Details
    UID:
    gbv_797617078
    Format: Online-Ressource
    Series Statement: Policy Research Working Paper 6739
    Content: This paper aims at assessing the impact of migration on export performance and more particularly the effect of African migrants on African trade. Relying on a new data set on international bilateral migration recently released by the World Bank spanning from 1980 to 2010, the authors estimate a gravity model that deals satisfactorily with endogeneity. The results first indicate that the pro-trade effect of migration is higher for African countries, a finding that can be partly explained by the substitution between migrants and institutions (the existence of migrant networks compensating for weak contract enforcement, for instance). This positive association is particularly important for the exports of differentiated products, suggesting that migrants also play an important role in reducing information costs. Moreover, focusing on intra-African trade, the pro-trade effect of African migrants is larger when migrants are established in a more geographically and ethnically distant country. All these findings highlight the ability of African migrants to help overcome some of the main barriers to African trade: the weakness of institutions, information costs, cultural differences, and lack of trust.
    Note: English , en_US
    Language: English
    URL: Volltext  (kostenfrei)
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  • 5
    Online Resource
    Online Resource
    Does Trade Reduce Poverty? A View from Africa (2013)
    Washington, DC : World Bank
    Details
    UID:
    gbv_797588469
    Format: Online-Ressource
    Series Statement: Policy Research Working Paper 6327
    Content: Although trade liberalization is being actively promoted as a key component in development strategies, theoretically, the impact of trade openness on poverty reduction is ambiguous. A more liberalized trade regime is argued to change relative factor prices in favor of the more abundant factor. If poverty and relative low income stem from abundance of labor, greater trade openness should lead to higher labor prices and a decrease in poverty. However, should the re-allocation of factors be hampered, the expected benefits from freer trade may not materialize. The theoretical ambiguity on the effects of openness is reflected in the available empirical evidence. This paper examines how the effect of trade openness on poverty may depend on complementary reforms that help a country take advantage of international competition. Using a non-linear regression specification that interacts a proxy of trade openness with proxies of various country structural specificities and a panel of 30 African countries over the period 1981-2010, the analysis finds that trade openness tends to reduce poverty in countries where financial sectors are deep, education levels high and governance strong.
    Note: English , en_US
    Language: English
    URL: Volltext  (kostenfrei)
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