Showing papers by "Asli Demirguc-Kunt published in 2018"
Book•
19 Apr 2018
TL;DR: The Global Findex Database 2017 as mentioned in this paper provides a detailed insight into how adults in more than 140 economies access accounts, make payments, save, borrow, and manage risk, with a focus on reducing poverty, hunger, and gender inequality.
Abstract: The Global Findex Database 2017 presents key findings from the Global Findex database, with detailed insight into how adults in more than 140 economies access accounts, make payments, save, borrow, and manage risk. As the data show, each economy has its own successes, challenges, and opportunities when it comes to financial inclusion. A growing body of research demonstrates the impact of country advances on significant priorities such as reducing poverty, hunger, and gender inequality.
916 citations
TL;DR: In this paper, the authors find that shareholder-friendly corporate governance is associated with higher stand-alone and systemic risk in the banking sector, and that such corporate governance results in higher risk for larger banks and for banks located in countries with generous financial safety nets.
157 citations
TL;DR: In this paper, the authors examined how the institutional environment affects the relationship between bank capital and system-wide fragility and found that bank capital is associated with a reduction in the systemic risk contribution of individual banks.
80 citations
Book•
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27 Sep 2018
TL;DR: In this paper, the authors discuss the major contributions to the study of finance and growth, including economic growth, entrepreneurship, technological innovation, poverty alleviation, distribution of income, and the structure and volatility of economies.
Abstract: This research review discusses the major contributions to the study of finance and growth. It covers conceptual and empirical papers that use a range of methodologies to discover the connections between financial systems–including financial contracts, markets, and intermediaries–and the functioning of the economy–including economic growth, entrepreneurship, technological innovation, poverty alleviation, the distribution of income, and the structure and volatility of economies. It also assesses contributions to the study of the legal, political, institutional, social capital and policy determinants of financial development.
30 citations
TL;DR: In this paper, the economic costs and benefits of deposit insurance and highlights the importance of institutions and specific design features for how well deposit insurance schemes work in practice, and the benefits and costs of different types of institutions.
Abstract: Deposit insurance is a widely adopted policy to promote financial stability in the banking sector. Deposit insurance helps ensure depositors' confidence in the financial system and prevents contagious bank runs, but it also comes with an unintended consequence of encouraging banks to take on excessive risk. This paper reviews the economic costs and benefits of deposit insurance and highlights the importance of institutions and specific design features for how well deposit insurance schemes work in practice.
20 citations
TL;DR: For example, the authors found that there is a widening gap between top performing publicly listed firms and the rest of the economy and the implications of this for rising inequality in the U.S. using conventional return calculations.
Abstract: There is wide spread concern about a growing gap between top-performing publicly listed firms and the rest of the economy and the implications of this for rising inequality in the U.S. Using conventional return calculations, there is indeed a widening gap between star firms (defined as those in top 10 percent of return on invested capital in any year) and the rest of the economy over time, especially in industries that rely on a skilled labor force. However, once measurement error in intangible capital is accounted for, this gap shrinks dramatically and has not been widening over time. While pricing power, as measured by markups, predicts star firm status, a large fraction of star firms have low markups and there is no evidence that star firms are cutting output or investment more than other firms for the same markup. The effect of star status is persistent. Five years later, star firms have higher growth, profits, and Tobin’s Q. A small subset of exceptional firms may pose more pressing policy concerns with much higher returns and the potential to exercise market power in the future.
3 citations