Review of Development Finance最新文献_第8页

Retraction notice to “On the efficiency of the Malaysian banking sector: A risk-return perspective” [Rev. Dev. Financ. 3 (1) (2012) 13–21] 对“关于马来西亚银行业效率:风险回报视角”的撤回通知[Rev. Dev. finance . 3 (1) (2012) 13-21]

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Review of Development Finance Pub Date : 2013-07-01 DOI: 10.1016/j.rdf.2013.10.001

Fadzlan Sufian , Muhamed Zulkhibri

引用次数: 0

A spillover analysis of shocks from US, UK and China on African financial markets 美国、英国和中国对非洲金融市场冲击的溢出效应分析

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Review of Development Finance Pub Date : 2013-07-01 DOI: 10.1016/j.rdf.2013.10.002

Giorgia Giovannetti , Margherita Velucchi

{"title":"A spillover analysis of shocks from US, UK and China on African financial markets","authors":"Giorgia Giovannetti , Margherita Velucchi","doi":"10.1016/j.rdf.2013.10.002","DOIUrl":"10.1016/j.rdf.2013.10.002","url":null,"abstract":"<div><p>Emerging African financial markets have been recently put forward as an interesting and profitable alternative to diversify risk for international investors. At the same time, they became more integrated with developed financial markets, so that, despite claims that Africa would be sheltered by outside shocks because at the margin of the globalization process, they have been hit by the 2008–09 crisis. This paper analyses the relationships among mature financial markets (US and UK), China, some South Saharan African emerging markets (Botswana, Kenya, Nigeria and South Africa) and two North African countries (Egypt and Tunisia) over the period 2005–2012, focusing on the role of financial markets’ volatility. We study, with the help of a Multiplicative Error fully inter-dependent model (MEM), the dynamics of the financial market volatility (risk), and the interactions with other markets. We present impulse-response functions with a time dependent profile to describe how a volatility shock from one market may propagate to other markets, increasing the fragility of African infant financial markets. Finally, we summarise the role of different markets in propagating risk in the area using a synthetic index (Volatility Spillover Balance) that distinguishes between volatility “creators” and “absorbers”. Our results show that South Africa and US shocks significantly affect African financial markets, and China has recently become more interconnected. Furthermore, while US, Kenya and Tunisia are “net creators” of volatility spillovers, South Africa and China turn out to be net “absorbers”.</p></div>","PeriodicalId":39052,"journal":{"name":"Review of Development Finance","volume":"3 4","pages":"Pages 169-179"},"PeriodicalIF":0.6,"publicationDate":"2013-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.rdf.2013.10.002","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"55055585","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 39

Bond markets in Africa 非洲债券市场

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Review of Development Finance Pub Date : 2013-07-01 DOI: 10.1016/j.rdf.2013.07.001

Yibin Mu , Peter Phelps , Janet G. Stotsky

引用次数: 121

Developing country vulnerability in light of the global financial crisis: Shock therapy? 全球金融危机下的发展中国家脆弱性:休克疗法?

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Review of Development Finance Pub Date : 2013-04-01 DOI: 10.1016/j.rdf.2013.02.001

Dennis Essers

{"title":"Developing country vulnerability in light of the global financial crisis: Shock therapy?","authors":"Dennis Essers","doi":"10.1016/j.rdf.2013.02.001","DOIUrl":"10.1016/j.rdf.2013.02.001","url":null,"abstract":"<div><p>This paper adopts a vulnerability perspective to look into some of the key developmental issues that have been raised in discussions following the global financial and economic crisis of 2008–2009. We contend that country vulnerability, defined as <em>probability of shocks</em>  −<!--> <em>resilience</em>), matters for future growth and poverty reduction. However, different ways of dealing with vulnerability all have specific advantages as well as downsides. First, <em>coping</em> with the aftermath of shocks can be painful and is inherently backward-looking. Second, <em>prevention</em> by reducing exposure is typically a long-term process. Third, increasing resilience through <em>self-insurance</em> often carries high opportunity costs. And fourth, <em>market insurance and hedging</em> may be politically sensitive and is largely unavailable to countries that need it most. Hence we argue for a multi-layered ‘therapy’, combining different approaches with attention to the short and long term, mindful of country specifics and with roles to play for both developing countries themselves and international actors. A tentative exploration of how vulnerability has been dealt with before and during the crisis suggests that, in some areas, important progress has been made. Nevertheless, and particularly for low-income countries, there is still a long way to go.</p></div>","PeriodicalId":39052,"journal":{"name":"Review of Development Finance","volume":"3 2","pages":"Pages 61-83"},"PeriodicalIF":0.6,"publicationDate":"2013-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.rdf.2013.02.001","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"55055039","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 72

Relevance of poverty and governance for aid allocation 贫困和治理与援助分配的相关性

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Review of Development Finance Pub Date : 2013-04-01 DOI: 10.1016/j.rdf.2013.04.001

Alessandro De Matteis

{"title":"Relevance of poverty and governance for aid allocation","authors":"Alessandro De Matteis","doi":"10.1016/j.rdf.2013.04.001","DOIUrl":"10.1016/j.rdf.2013.04.001","url":null,"abstract":"<div><p>The argument that aid can bolster growth and poverty reduction only in a conducive policy environment has generated attention on some conditions of the economic, political and institutional context in the recipient country which can allow aid to contribute to <em>pro-poor</em> growth. This has clear implications in terms of aid allocation.</p><p>This paper tries to contribute to such discussion by proposing a combined framework to address the aid-growth-poverty-governance nexus. Results show that aid is more effective – both for poverty reduction and for growth – when its allocation is inspired by a poverty-focused perspective and, to a certain extent, by a conducive environment in the recipient country.</p><p>A review of aid allocation over the past thirty years supports the criticism that this does not seem to be inspired by poverty-reducing aims, but it reveals as well how this has remarkably changed.</p><p>It is highlighted how both donors’ poverty-focused aid allocation and recipients’ proper aid utilization are necessary to improve aid effectiveness. At the same time it is considered how the ongoing changes of the poverty landscape will require some changes of the aid architecture.</p></div>","PeriodicalId":39052,"journal":{"name":"Review of Development Finance","volume":"3 2","pages":"Pages 51-60"},"PeriodicalIF":0.6,"publicationDate":"2013-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.rdf.2013.04.001","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"55055165","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 20

The determinants of IPO firm prospectus length in Africa 非洲IPO公司招股说明书长度的决定因素

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Review of Development Finance Pub Date : 2013-04-01 DOI: 10.1016/j.rdf.2013.04.002

Bruce Hearn

引用次数: 6

Individual lending versus group lending: An evaluation with Kenya's microfinance data 个人贷款与团体贷款:对肯尼亚小额信贷数据的评估

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Review of Development Finance Pub Date : 2013-04-01 DOI: 10.1016/j.rdf.2013.05.001

Odongo Kodongo , Lilian G. Kendi

引用次数: 101

RETRACTED: On the efficiency of the Malaysian banking sector: A risk-return perspective 撤回:关于马来西亚银行业的效率:风险-回报的观点

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Review of Development Finance Pub Date : 2013-01-01 DOI: 10.1016/j.rdf.2012.12.001

Fadzlan Sufian , Muhamed Zulkhibri

引用次数: 12

Effect of business regulation on investment in emerging market economies 新兴市场经济体商业监管对投资的影响

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Review of Development Finance Pub Date : 2013-01-01 DOI: 10.1016/j.rdf.2013.01.001

Birungi Korutaro , Nicholas Biekpe

引用次数: 23

Causes of asset shortages in emerging markets 新兴市场资产短缺的原因

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Review of Development Finance Pub Date : 2013-01-01 DOI: 10.1016/j.rdf.2012.12.002

Jiaqian Chen, Patrick Imam

引用次数: 14