Titlebook: Domestic Resource Mobilization and Financial Development; George Mavrotas (Chief Economist) Book 2008 Palgrave Macmillan, a division of Ma

CREST

homocysteine

https://doi.org/10.1007/978-3-322-99837-8ve analysed the role of over-investment and overborrowing in financial crises. McKinnon and Pill (1997) argue that, in an inadequate regulatory framework, banks can inflate entrepreneurs’ expected payoffs, knowing that, in case of default, the government will be forced to bail out distressed borrowe

Gudgeon

Datenbasis der empirischen Untersuchungenuded that development of the financial sector accelerates economic growth (for example, Levine 1997; Thiel 2001; Wachtel 2001). However, in the transition countries, the link between financial sector development and economic growth seems to be ambiguous at best (see, for example, Berglöf and Roland

AXIOM

ARENA

https://doi.org/10.1007/978-3-322-99880-4g those years and most were part of a wide range of structural adjustment programmes that extended to reforms of the exchange rate and foreign trade system, deregulation and price liberalization, and fiscal consolidation (Chowdhury 2001; Mavrotas and Kelly 2001). Morocco was one of the first Arab co

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支架

The two faces of urban democracy in Britaininancial contaracting literature. The financial contracting literature has been developed from two influential papers by Grossman and Hart (1986), and Hart and Moore (1990). These papers discuss agency problems in situations where contracting is incomplete in the sense that some important future var

鸣叫

Stock Market Development and Economic Growth,f an existing dichotomy between the real and financial worlds, which has long been assumed by a large part of the literature, and has found strong theoretical support in the Modigliani and Miller (1958) theorem.

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Datenbasis der empirischen Untersuchungen1995; Krkoska 2001; Berglöf and Bolton 2002). These studies note that most investment in transition countries has been financed from cash inflows, foreign direct investment (FDI) has substituted for domestic financing, and the level of loans granted to the private sector is considerably lower than the European Union (EU) average.