Description
The purpose of this paper is to identify which small businesses are most “debt sensitive”,
or most likely to be affected by banking market conditions
Journal of Financial Economic Policy
Effects of banks on “debt-sensitive” small businesses
Allen N. Berger Philip Ostromogolsky...
Description
The objective of this paper is to study the interactions between economic liberalisation,
political liberalisation, and financial development in African countries. More specifically, the paper
seeks to establish the impact of economic, political, and institutional openness on...
Description
The purpose of this postmortem is to assess whether the design, implementation, and
maintenance of financial policies during the period from 1996 through 2006 were primary causes of the
financial system’s demise
Journal of Financial Economic Policy
An autopsy of the US financial...
Description
Sometimes resources are badly employed because of coordination failures. Actions by
decision makers that affect the likelihood of such failures are sometimes said to cause “systemic risk.”
This paper seeks to consider the externality in the choice of ex ante risk management policies...
Description
This paper aims to explain the economic impact of the change in the degree of contract
enforcement in the USA since August 2008. This change, from solid enforcement (hard contracts),
to uncertain enforcement (fuzzy contracts), is a result of political expediency during an economic...
Description
The purpose of this paper is to investigate whether socially responsible investment (SRI)
is less sensitive to market downturns than conventional investments; the legal implications for fund
managers and trustees; and possible legislative reforms to allow conventional funds more...