We explore the relation between international financial integration and the level of entrepreneurial activity in a country. Using a unique firm level data set of approximately 24 million firms in nearly 100 countries in 2004 and 1999, we find suggestive evidence that international financial integration has been associated with higher levels of entrepreneurial activity. Our results are robust to...

We explore the relation between international financial integration and the level of entrepreneurial activity in a country. Using a unique data set of approximately 24 million firms in nearly 100 countries in 1999 and 2004, we find suggestive evidence that international financial integration has been associated with higher levels of entrepreneurial activity. Our results are robust to using vari...

Following the rising spate of debt profile Nigeria and fluctuating trend in her macroeconomic indicators, this study critically examined impact external on economic growth period, 1985 to 2019 by examining causality between stock identify servicing Nigeria. The employed Harrod-Domar theory Two-Gap model as theoretical framework explain made use secondary data sourced from World Development Indi...

The gravity map of Ouaddai in the eastern region Chad exhibits important anomalies that are often delimitated by high gradients, resulting from density contrasts between various anomaly sources. This presumes an tectonic activity zone. Because its arid and desert nature, is water-poor or even lacking water resources. main source made very deep aquifers. analysis this study helps to better under...

The global recession caused by the COVID-19 pandemic and resulting deterioration in many countries’ public finances have increased risk of sovereign debt crises. Although crisis prevention remains paramount, these developments made it imperative to re-examine adequacy current toolkit for management resolution, a context where changes creditor base composition instruments brought about new chall...

This paper compares the benefits to Greece, Euro zone and rest of world arising from policies that prevent a Greek default exit with costs preventive policies. It concludes exceed costs, though unpredictable politics nationalist aspirations may adoption rational The also considers causes Greece’s problems: failure lenders ask for proper risk premium on country’s bonds; publication false economi...

In the past, foreign borrowing by developing countries was comprised almost entirely of government borrowing. Recently, private firms and individuals in developing countries borrow substantially from foreign lenders. It is not clear whether the observed increase in private sector borrowing leads to overborrowing and frequent defaults by governments in developing countries. In this paper, we dev...

Composition of International Capital Flows: A Survey In this survey, we focus on key mechanisms through which liquidity and financial shocks affect major types of capital flows. We focus on a few models that examine the role of asymmetric information, liquidity preferences, limited enforcement, and incomplete markets on the composition of capital flows. We show that the information asymmetry be...

Interest rate shocks have a large impact on economic activities in emerging markets. This paper argues that this finding can be associated with credit market imperfections affecting principally non-tradable activities. Using a new database on sectoral output and credit markets in emerging economies, I present novel evidence documenting that tradable and non-tradable sectors respond asymmetrical...