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Financial Repression, Interest Rates, and Credit Allocation in Sub-Saharan Africa
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Working Paper
The Banking System and Monetary Aggregates Following Financial Sector ReformsThis paper discusses the process, problems and impacts of the financial sector reform in Indonesia, particularly since the late 1980s. The reform has encouraged a surge in private sector capital inflows to supplement the already high domestic savings...
Journal Article
Is Economic Volatility Detrimental to Global Sustainability?In a dynamic panel data model allowing for error cross-section dependence, output volatility is found to impede sustainable development. Through a financial development channel (liquidity liability ratio), output volatility exerts a significant...
Working Paper
Gap DisequilibriaFour "gaps" or restrictions on capacity growth -- from available saving and foreign exchange, investment demand (with crowding-in of private by public capital formation), and ex ante discrepancies between inflation rates needed on the one hand to...
Working Paper
Savings By and For the PoorThe poor can and do save, but often use formal or informal instruments that have high risk, high cost, and limited functionality. This could lead to undersaving compared to a world without market or behavioural frictions. Undersaving can have...
Blog
Domestic Resource Mobilization and Financial Development: Looking at the MDGs from a Different Angle?
George Mavrotas While recent years have witnessed new interest in the finance–growth nexus, the relationship between domestic resource mobilization...
Policy Brief
Vulnerability in Developing CountriesThe first Millennium Development Goal aims to halve the number of people in the world living in extreme poverty. In this Research Brief, emanating from the UNU-WIDER project on ‘Fragility and Development’, the premise is that we should also be...
Working Paper
It Works; It Doesn't; It Can, But that Depends...This paper surveys 50 years of empirical research on the macroeconomic impact of aid, looking mainly at studies examining the link between aid and growth. It argues that studies dating until the late 1990s produced either contradictory or...
Working Paper
Inconsistency in Savings PatternTraditionally, the difference between income and expenditure reported in household surveys is used for estimation of savings at the household level. However, persistent deviation in consumption–income ratios by household income brackets raises...
Working Paper
Financial Sector Development, Savings Mobilization and Poverty Reduction in GhanaThe paper primarily investigates the interrelationship between financial sector development and poverty reduction in Ghana. This is done using time-series data from the World Development Indicators from 1970-2001. The main findings are, first, that...
Working Paper
A Holistic Perception of Foreign Financing of Developing Countries' Private SectorsThe paper presents a comprehensive survey of the ‘shopping list’ of sources of external finance that are directly channeled to the business sector of developing countries. Generally, our analytical survey covers the 1970-2000 period, and includes the...
Working Paper
Savings and Financial Sector DevelopmentThe paper uses different measures of financial sector development for a dynamic heterogeneous panel of 17 African countries to examine the impact of financial sector development on private savings. An innovative econometric methodology is also...
Working Paper
Financial Sector Reforms and Savings Mobilization in ZambiaThe paper explores the relationship between financial sector reforms and savings mobilization in Zambia. Although there exists an extensive literature on financial sector development and savings levels in developing countries, there does not seem to...
Working Paper
Financial Sector Development - Futile or Fruitful? An Examination of the Determinants of Savings in Sri LankaUsing dynamic econometric techniques the paper investigates the determinants of private saving in Sri Lanka with a primary focus on the role of financial sector development. Empirical evidence is obtained indicating the existence of the Ricardian...
Working Paper
Financial Reform and the Mobilization of Domestic SavingsUsing a vector error-correction model, I explore the short-run dynamics and long-run linkages between financial reform and the mobilization of domestic saving in Morocco. In the short run, financial depth (volume of intermediation) is shown to have a...
Working Paper
A Global Lottery and a Global Premium BondThe world lottery market now amounts to at least US$126 billion in sales. World market sales for all gaming products (public, charitable and commercial) total some US$1 trillion, of which Internet gambling accounts for US$32 billion. This paper...
Working Paper
Capital markets in sub-Saharan AfricaCapital markets facilitate capital growth by mobilizing savings and converting them into investments, and they are therefore a stimulant of economic growth. There is evidence that countries with high savings rates tend to grow faster. Although most...
Working Paper
Determinants of domestic savings in TanzaniaThis paper examines trends and determinants of gross domestic savings in Tanzania using data for the period 1990–2020. The autoregressive distributed lag approach is employed to empirically analyse the short-run and long-run relationships. There has...
Book Chapter
A Global Lottery and a Global Premium BondPart of Book New Sources of Development Finance
Journal Article
Savings by and for the PoorPart of Journal Special Issue Poverty, Development, and Behavioral Economics
Journal Article
Social Capital, Network Effects, and Savings in Rural VietnamPart of Journal Special Issue Poverty, Development, and Behavioral Economics
Working Paper
Social Capital, Network Effects and Savings in Rural VietnamInformation failures are a major barrier to formal financial saving in low income countries. Households in rural communities often lack the information necessary to set up formal deposit accounts or are uncertain about the returns to saving formally...
Working Paper
The Impact of Financial Reform on Private Savings in BangladeshOver the course of the last decade, Bangladesh has implemented a broad-based program of financial and market reforms, encompassing changes in the structure of the financial system, prudential and supervisory frameworks, and monetary management. This...
Working Paper
Determinants of Income Inequality and its Effects on Economic GrowthThe paper empirically investigates, in the context of African countries, the determinants of income distribution and inequality, the effect of inequality on economic growth, and the channels through which inequality affects growth. Data for 35...
Working Paper
Inequality and RiskIn poor societies, asset accumulation serves as insurance. It also opens the door to wider inequality. Many societies prohibit certain types of accumulation, such as land sales or indenture contracts. This paper investigates the theoretical...
Working Paper
Asset Portfolios in AfricaThis paper considers asset holdings in rural Ethiopia. It shows that households own mostly non-financial assets and that the composition of asset portfolios varies significantly with the household’s overall wealth and its exposure to uncertainty. As...
Blog
Open Access and UNU-WIDER
21 February 2014 Tony Addison Development researchers live in a world where research on development, not just in economics but also political science...
Blog
Lessons from Behavioural Economics for Development Policy
23 April 2014 Jukka Pirttilä In conventional economic theory, agents are assumed to be able to make rational choices, unaffected by emotions and not...
Blog
Out of the Poverty Trap Through Higher Aspirations?
Why does a mother from a poor African village not send her daughter to school, but instead marries her off to an old man as a second or third wife...
Displaying 32 of 48 results