Financial dependence and growth

Article Abstract:

An analysis of financial development effects on economic growth reveals that external finance dependent industrial sectors develop disproportionately faster in countries with well-developed financial systems. The study considers data from countries during the 1980s and finds that positive financial development does reduce the costs of external finance to firms and that this result is unlikely driven by omitted variables, outliers and reverse casualty.

Economics, Research and Development in the Social Sciences and Humanities, Analysis, Economic development, Capital market, Capital markets, Business budgets

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The great reversals: the politics of financial development in the twentieth century

Article Abstract:

A theory on the state of development of the financial sector and changes in the same is proposed. The theory accounts for the cross-country differences in, and the time-series variation of, financial development.

Politics, Capital movements

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Debtor-in-possesion financing and bankruptcy resolution: Empirical evidence

Article Abstract:

The advantages of Debtor-in-possession (DIP) financing are discussed. DIP financing allows funding for positive net present value projects the likelihood of reorganization and reduces time in bankruptcy.

Evaluation, Financing

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