We develop a new methodology to nowcast the effects of the COVID-19 crisis and forecast its evolution in small, export-oriented countries. To this aim, we exploit variation in financial indexes at the industry level and relate them to the expected...
24 June 2013 Aziz Karimov By the end of 2015, we will see a new global development agenda which will substitute the Millennium Development Goals (MDGs...
The primary role of finance is to serve the ‘real economy’¬—the part of the economy that produces goods and services. Yet in practice, the financial...
This paper provides a contextual analysis of the adoption of Bitcoin as legal tender in El Salvador. First, we outline the historical context and the political situation of the period 2019–24 that serve as context for the passage and implementation...
China is emerging as perhaps the most globally significant development finance provider, going far beyond concessional foreign aid. With China’s initiatives to create and foster new multi-lateral finance institutions, and to work in terms of large...
Tony Addison As we come to the end of November, the snow has yet to arrive in Helsinki. We continue to enjoy clear skies and spectacular sunsets...
Tony Addison With the end of the year fast approaching, we bring you the last Angle of 2011. Here in Helsinki, the shortest day of the year is nearly...
It is clear that a lot remains to be learnt about the role of the financial sector in African growth and development process. All three papers in this volume focus on the existing consensus in the literature that there seems to be a positive...
Financial liberalisation is widely seen as key to promoting financial development and unlocking growth in developing countries. While this thesis has been backed by an extensive literature, we show that it rests on weak theoretical and empirical...
Financial development can exert a significant influence on the distribution of income. In this paper, using Chinese provincial data over the period of 1991-2000 and applying the generalized method of moment (GMM) techniques, we investigate the...
This paper documents the financial and institutional developments of China during the past two decades, when China was successfully transformed from a rigid central-planning economy to a dynamic market economy following its unique path. We...
In the last two decades, there has been a global sea change in the theory and practice of central banking. The currently dominant ‘best practice’ approach to central banking consists of the following: (1) central bank independence (2) a focus on...
In this paper, using the rich household panel data of urban and rural Ethiopia that covers the period from 1994 to 2000, we attempted to establish the link between finance and poverty in Ethiopia. Our results show that access to finance is an...
The role of foreign direct investment (FDI) in small island developing states (SIDS) is an issue that has been neglected until relatively recently. The reasons for this lack of interest are unsurprising, given both the low absolute volume of capital...
This study is an attempt towards an integration of financial development and its effect on the real sector via the transmission mechanism with special reference to developing and emerging market economies. It finds two cointegrating relations between...
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