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Expenditure Conditionality in IMF-supported Programs

Author/Editor: Sanjeev Gupta, Michela Schena, Seyed Reza Yousefi.

Release Date:December, 2018

This paper studies the impact of expenditure conditionality in IMF programs on the composition of public spending. A granular dataset on different government expenditure conditions covering 115 more...



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Pouring Oil on Fire: Interest Deductibility and Corporate Debt

Author/Editor: Pietro Dallari, Nicolas End, Fedor Miryugin, Alexander F Tieman, Reza Yousefi.

Release Date:December, 2018

This paper investigates the role of tax incentives towards debt finance in the buildup of leverage in the nonfinancial corporate (NFC) sector, using a large firm-level dataset. We find that so-called more...



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Banking on Women Leaders: A Case for More?

Author/Editor: Ratna Sahay, Martin Cihak, Papa M N'Diaye, Adolfo Barajas, Annette J Kyobe, Srobona Mitra, Yen N Mooi, Reza Yousefi.

Release Date:September, 2017

Using a new dataset, we measure the large gap between the representation of men and women in leadership positions in banks and bank supervision agencies worldwide. Women occupied less than 2 percent more...



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Smooth Operator: Remittances and Fiscal Shocks

Author/Editor: Kimberly Beaton, Serhan Cevik, Reza Yousefi.

Release Date:July, 2017

With 250 million migrants globally, remittances are one of the major sources of income in many developing countries. While there is abundant evidence that remittances facilitate consumption smoothing more...



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Financial Inclusion : Can it Meet Multiple Macroeconomic Goals?

Author/Editor: Ratna Sahay, Martin Cihak, Papa N'Diaye, Adolfo Barajas, Srobona Mitra, Annette Kyobe, Yen Mooi, Reza Yousefi.

Release Date:September, 2015

Using several recently available global datasets, this Staff Discussion Note examines macroeconomic effects of financial inclusion. It finds significant benefits to economic growth from financial more...



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Rethinking Financial Deepening : Stability and Growth in Emerging Markets

Author/Editor: Ratna Sahay, Martin Cihak, Papa M N'Diaye, Adolfo Barajas, Diana B Ayala Pena, Ran Bi, Yuan Gao, Annette J Kyobe, Lam Nguyen, Christian Saborowski, Katsiaryna Svirydzenka, Seyed Reza Yousefi.

Release Date:May, 2015

The global financial crisis experience shone a spotlight on the dangers of financial systems that have grown too big too fast. This note reexamines financial deepening, focusing on what emerging more...



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The Finance and Growth Nexus Re-Examined: Do All Countries Benefit Equally?

Author/Editor: Adolfo Barajas, Ralph Chami, Reza Yousefi.

Release Date:May, 2013

A large theoretical and empirical literature has focused on the impact of financial deepening on economic growth throughout the world. This paper contributes to the literature by investigating more...



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Too Cold, Too Hot, Or Just Right? Assessing Financial Sector Development Across the Globe

Author/Editor: Adolfo Barajas, Thorsten Beck, Era Dabla-Norris, Reza Yousefi.

Release Date:March, 2013

This paper introduces the concept of the financial possibility frontier as a constrained optimum level of financial development to gauge the relative performance of financial systems across the more...



Price: $18.00