Author : Nina Budina
Publisher : World Bank Publications
Page : 30 pages
File Size : 42,21 MB
Release : 2000
Category : Banks and Banking Reform
ISBN :
"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 : Franklin Allen
Publisher : OUP Oxford
Page : 320 pages
File Size : 14,5 MB
Release : 2009-04-02
Category : Business & Economics
ISBN : 0191622869
What causes a financial crisis? Can financial crises be anticipated or even avoided? What can be done to lessen their impact? Should governments and international institutions intervene? Or should financial crises be left to run their course? In the aftermath of the Asian financial crisis, many blamed international institutions, corruption, governments, and flawed macro and microeconomic policies not only for causing the crisis but also unnecessarily lengthening and deepening it. Based on ten years of research, the authors develop a theoretical approach to analyzing financial crises. Beginning with a review of the history of financial crises and providing readers with the basic economic tools needed to understand the literature, the authors construct a series of increasingly sophisticated models. Throughout, the authors guide the reader through the existing theoretical and empirical literature while also building on their own theoretical approach. The text presents the modern theory of intermediation, introduces asset markets and the causes of asset price volatility, and discusses the interaction of banks and markets. The book also deals with more specialized topics, including optimal financial regulation, bubbles, and financial contagion.
Author : Bengt Holmstrom
Publisher : MIT Press
Page : 263 pages
File Size : 22,91 MB
Release : 2013-01-11
Category : Business & Economics
ISBN : 0262518538
Two leading economists develop a theory explaining the demand for and supply of liquid assets. Why do financial institutions, industrial companies, and households hold low-yielding money balances, Treasury bills, and other liquid assets? When and to what extent can the state and international financial markets make up for a shortage of liquid assets, allowing agents to save and share risk more effectively? These questions are at the center of all financial crises, including the current global one. In Inside and Outside Liquidity, leading economists Bengt Holmström and Jean Tirole offer an original, unified perspective on these questions. In a slight, but important, departure from the standard theory of finance, they show how imperfect pledgeability of corporate income leads to a demand for as well as a shortage of liquidity with interesting implications for the pricing of assets, investment decisions, and liquidity management. The government has an active role to play in improving risk-sharing between consumers with limited commitment power and firms dealing with the high costs of potential liquidity shortages. In this perspective, private risk-sharing is always imperfect and may lead to financial crises that can be alleviated through government interventions.
Author : Lasse Heje Pedersen
Publisher : Princeton University Press
Page : 368 pages
File Size : 47,32 MB
Release : 2019-09-17
Category : Business & Economics
ISBN : 0691196095
Efficiently Inefficient describes the key trading strategies used by hedge funds and demystifies the secret world of active investing. Leading financial economist Lasse Heje Pedersen combines the latest research with real-world examples and interviews with top hedge fund managers to show how certain trading strategies make money - and why they sometimes don't. -- from back cover.
Author : Toni M. Whited
Publisher :
Page : 64 pages
File Size : 17,78 MB
Release : 1990
Category : Corporate debt
ISBN :
Author : Yoram Lustig
Publisher : Pearson UK
Page : 315 pages
File Size : 27,97 MB
Release : 2016-06-07
Category : Business & Economics
ISBN : 1292129328
One of the most important financial plans you can have is saving and investing for your retirement. Quite simply, the success of this plan determines whether you’re going to live comfortably after you stop working. The Financial Times Guide to Saving and Investing for Retirement will lead you through a bewildering maze of financial tools and provide advice on crucial investment decisions. It provides everything you need to know about how to save and invest so that you can successfully plan for your retirement. It is packed with invaluable information on taxes, ISAs, pensions, investing across different assets and buying property. The Financial Times Guide to Saving and Investing for Retirement will help you: Identify your financial objectives and work out how to achieve them Learn how to invest for a specific goal and time Find out about taxes and other rules that may impact your wealth Understand why it’s essential to be actively involved in managing your post-work income The full text downloaded to your computer With eBooks you can: search for key concepts, words and phrases make highlights and notes as you study share your notes with friends eBooks are downloaded to your computer and accessible either offline through the Bookshelf (available as a free download), available online and also via the iPad and Android apps. Upon purchase, you'll gain instant access to this eBook. Time limit The eBooks products do not have an expiry date. You will continue to access your digital ebook products whilst you have your Bookshelf installed.
Author : R. Glenn Hubbard
Publisher : University of Chicago Press
Page : 354 pages
File Size : 18,14 MB
Release : 2009-05-15
Category : Business & Economics
ISBN : 0226355942
In this volume, specialists from traditionally separate areas in economics and finance investigate issues at the conjunction of their fields. They argue that financial decisions of the firm can affect real economic activity—and this is true for enough firms and consumers to have significant aggregate economic effects. They demonstrate that important differences—asymmetries—in access to information between "borrowers" and "lenders" ("insiders" and "outsiders") in financial transactions affect investment decisions of firms and the organization of financial markets. The original research emphasizes the role of information problems in explaining empirically important links between internal finance and investment, as well as their role in accounting for observed variations in mechanisms for corporate control.
Author : Richard Edward Deeg
Publisher : University of Michigan Press
Page : 329 pages
File Size : 32,56 MB
Release : 2010-08-10
Category : Political Science
ISBN : 0472027328
If we are moving toward one global financial market, will all national financial systems that determine how businesses raise money look the same? Richard Deeg argues that, despite financial market integration and considerable harmonization in the regulation of financial markets, the traditional structure and economic functions of national financial systems are not inevitably undermined. Using the case of Germany--a country with a strong and distinctive financial sector that is at the center of the pressures of economic integration--the author shows how the unique aspects of the German financial sector and its relationship to the German economy have persisted notwithstanding powerful pressures to change. Posing the German model of coordinated capitalism in which banks play an important role in shaping both firm behavior and the possibilities for state intervention in the economy against the liberal model of the United States and Britain in which the securities markets play a much greater role than banks, Deeg shows how the German model has survived competitive pressures in the international economic system that have pushed Germany--and other countries--toward the liberal model. This book will appeal to political scientists and economists interested in international financial markets, globalization, and the comparative study of domestic financial markets, as well as in German politics and the German economy. Richard Deeg is Assistant Professor of Political Science, Temple University.
Author : Cees van Beers
Publisher : Springer
Page : 321 pages
File Size : 14,78 MB
Release : 2008-09-10
Category : Business & Economics
ISBN : 0230285732
A rich overview of current research on determinants of innovative behaviour. It is a unique work as it illuminates these from different perspectives such as, economics, management and psychology. Using several methods of analysis, it shows what specific determinants are predominant in explaining firm performance on innovation.
Author : Paul Gertler
Publisher : World Bank Publications
Page : 50 pages
File Size : 39,94 MB
Release : 2006
Category : Mexico
ISBN : 2006081012
"The authors test whether poor households use cash transfers to invest in income generating activities that they otherwise would not have been able to do. Using data from a controlled randomized experiment, they find that transfers from the Oportunidades program to households in rural Mexico resulted in increased investment in micro-enterprise and agricultural activities. For each peso transferred, beneficiary households used 88 cents to purchase consumption goods and services, and invested the rest. The investments improved the household's ability to generate income with an estimated rate of return of 17.55 percent, suggesting that these households were both liquidity and credit constrained. By investing transfers to raise income, beneficiary households were able to increase their consumption by 34 percent after five and a half years in the program. The results suggest that cash transfers to the poor may raise long-term living standards, which are maintained after program benefits end. "--World Bank web site.
