Narrow search
Showing 1 - 4 of 4
Cover Image
Financial Innovation: The Bright and the Dark Sides
Beck, Thorsten; Chen, Tao; Lin, Chen; Song, Frank M. - Hong Kong Institute for Monetary Research (HKIMR), … - 2012
"Everybody talks about financial innovation, but (almost) nobody empirically tests hypotheses about it." Frame and White (2004) The financial turmoil from 2007 onwards has spurred renewed debates on the "bright" and "dark" sides of financial innovation. Using bank-, industry- and country-level...
Persistent link: https://www.econbiz.de/10009652293
Cover Image
SMEs, Growth, and Poverty
Demirguc-Kunt, Asli; Levine, Ross; Beck, Thorsten - National Bureau of Economic Research (NBER) - 2005
. Using a sample of 45 countries, we find a strong, positive association between the importance of SMEs and GDP per capita … growth. The data do not, however, confidently support the conclusions that SMEs exert a causal impact on growth. Furthermore …, we find no evidence that SMEs alleviate poverty or decrease income inequality. …
Persistent link: https://www.econbiz.de/10005830798
Cover Image
The Role of Finance in Economic Development : Benefits, Risks, and Politics
Beck, Thorsten - Tilburg University, Center for Economic Research - 2011
Abstract: Theoretical and empirical research has shown that a sound and effective financial system is critical for economic development and growth. The financial system, however, is also subject to boom and bust cycles and fragility, with negative repercussions for the real economy. Further, the...
Persistent link: https://www.econbiz.de/10011092153
Cover Image
Finance, Firm Size, and Growth
Demirguc-Kunt, Asli; Laeven, Luc; Levine, Ross; Beck, … - National Bureau of Economic Research (NBER) - 2004
This paper examines whether financial development boosts the growth of small firms more than large firms and hence provides information on the mechanisms through which financial development fosters aggregate economic growth. We define an industry's technological firm size as the firm size...
Persistent link: https://www.econbiz.de/10005084876