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Institution

World Bank

OtherWashington D.C., District of Columbia, United States
About: World Bank is a other organization based out in Washington D.C., District of Columbia, United States. It is known for research contribution in the topics: Population & Poverty. The organization has 7813 authors who have published 21594 publications receiving 1198361 citations. The organization is also known as: World Bank, WB & The World Bank.


Papers
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Journal ArticleDOI
TL;DR: In this article, the authors test hypotheses about the effects of bank size, foreign ownership, and distress on lending to informationally opaque small firms, using a rich new data set on Argentinean banks, firms, and loans.
Abstract: Consolidation of the banking industry is shifting assets into larger institutions that often operate in many nations. Large international financial institutions are geared toward serving large wholesale customers. How does this affect the banking system's ability to lend to informationally opaque small businesses? The authors test hypotheses about the effects of bank size, foreign ownership, and distress on lending to informationally opaque small firms, using a rich new data set on Argentinean banks, firms, and loans. They also test hypotheses about borrowing from a single bank versus borrowing from several banks. Their results suggest that large and foreign-owned institutions may have difficulty extending relationship loans to opaque small firms, especially if small businesses are delinquent in repaying their loans. Bank distress resulting from lax prudential supervision and regulation appears to have no greater effect on small borrowers than on large borrowers, although even small firms may react to bank distress by borrowing from multiple banks, despite raising borrowing costs and destroying some of the benefits of exclusive lending relationships.

793 citations

Journal ArticleDOI
Inessa Love1
TL;DR: In this article, the authors provide evidence that financial development impacts growth by reducing financing constraints that would otherwise distort efficient allocation of investment, and they infer the constraints from the investment Euler equation by assuming that a firm's stochastic discount factor is a function of the firm's financial position.
Abstract: This article provides evidence that financial development impacts growth by reducing financing constraints that would otherwise distort efficient allocation of investment. The financing constraints are inferred from the investment Euler equation by assuming that the firm's stochastic discount factor is a function of the firm's financial position (specifically, the stock of liquid assets). The magnitude of the changes in the cost of capital is twice as large in a country with a low level of financial development as in a country with an average level of financial development. The size effect, business cycles, and legal environment effects are also considered. Copyright 2003, Oxford University Press.

790 citations

Journal ArticleDOI
Gershon Feder1, Dina L. Umali1
TL;DR: In this paper, the authors reviewed the theoretical and empirical literature on the adoption of agricultural innovations during the last decade and the impact of policy interventions promoting technology adoption and found that agroclimatic environment is the most significant determinant of locational differences in adoption rates.

784 citations

BookDOI
TL;DR: In this paper, the relative advantages and disadvantages of bank-based and market-based financial systems are analyzed in a cross-section of roughly 150 countries to illustrate how financial systems differ around the world.
Abstract: What are the relative advantages and disadvantages of bank-based financial systems (as in Germany and Japan) and market-based financial systems (as in England and the United States). Does financial structure matter? In bank-based systems banks play a leading role in mobilizing savings, allocating capital, overseeing the investment decisions of corporate managers, and providing risk management vehicles. In market-based systems securities markets share center stage with banks in getting society's savings to firms, exerting corporate control, and easing risk management. The unresolved debate about whether markets or bank-based intermediaries are more effective at providing financial services hampers the formation of sound policy advice. The authors use newly collected data on a cross-section of roughly 150 countries to illustrate how financial systems differ around the world. They a) analyze how the size, activity, and efficiency of financial systems differ across different per capita income groups; b) define different indicators of financial structure and identify different patterns as countries become richer, and c) investigate legal, regulatory, and policy determinants of financial structure after controlling for per capita GDP. A clear pattern emerges: 1) Banks, other financial intermediaries, and stock markets all grow and become more active and efficient as countries become richer. As income grows, the financial sector develops. 2) In higher income countries, stock markets become more active and efficient than banks. Thus, financial systems tend to be more market based. 3) Countries with a common law tradition, strong protection for shareholder rights, good accounting standards, low levels of corruption, and no explicit deposit insurance tend to be more market-based, even after controlling for income. 4) Countries with a French civil law tradition, poor accounting standards, heavily restricted banking systems, and high inflation generally tend to have underdeveloped financial systems, even after controlling for income.

784 citations

Journal ArticleDOI
TL;DR: In this paper, the authors attribute this to their similar family systems, which generate strong disincentives to raise daughters while valuing adult women's contributions to the household, and propose to increase the flexibility of the kinship system such that daughters and sons can be perceived as being more equally valuable.
Abstract: Son preference has persisted in the face of sweeping economic and social changes in China, India, and the Republic of Korea. The authors attribute this to their similar family systems, which generate strong disincentives to raise daughters while valuing adult women's contributions to the household. Urbanization, female education, and employment can only slowly change these incentives without more direct efforts by the state and civil society to increase the flexibility of the kinship system such that daughters and sons can be perceived as being more equally valuable. Much can be done to this end through social movements, legislation, and the mass media.

783 citations


Authors

Showing all 7881 results

NameH-indexPapersCitations
Joseph E. Stiglitz1641142152469
Barry M. Popkin15775190453
Dan J. Stein1421727132718
Asli Demirguc-Kunt13742978166
Elinor Ostrom126430104959
David Scott124156182554
Ross Levine122398108067
Barry Eichengreen11694951073
Martin Ravallion11557055380
Kenneth H. Mayer115135164698
Angus Deaton11036366325
Timothy Besley10336845988
Lawrence H. Summers10228558555
Shang-Jin Wei10141539112
Thorsten Beck9937362708
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Performance
Metrics
No. of papers from the Institution in previous years
YearPapers
202330
202281
2021491
2020594
2019604
2018637