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Registros recuperados: 37
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The Road to Financial Sustainability. Comparative Analysis of Russia and the Caucasus Region AgEcon
Sheremenko, Ganna; Escalante, Cesar L.; Florkowski, Wojciech J..
This paper examines delinquency, profitability, and outreach determinants of microfinance institutions’ (MFIs) performance in Russia and the Caucasus. The estimation is done using the Seemingly Unrelated Regression (SUR) technique. The estimation results suggest that Russian and Caucasian MFIs are profit-driven but are expected to improve outreach in the long-run.
Tipo: Working Paper Palavras-chave: Microfinance institution; SUR; Financial sustainability; Delinquency; Profitability; Social outreach; Agricultural Finance; Financial Economics; G20; G21.
Ano: 2012 URL: http://purl.umn.edu/119525
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EFFECTS OF OWNERSHIP RESTRICTIONS ON FARMLAND VALUES IN SASKATCHEWAN AgEcon
Carlberg, Jared G..
Restrictions on the ownership of farmland by nonresidents of Saskatchewan were imposed by the Farmland Security Act (FSA) in 1974. The FSA has been blamed by some observers for depressed provincial land values. An adaptive expectations present value model is developed to estimate the effects of the FSA, with the province of Alberta included as a control. Results of seemingly unrelated regressions and generalized autoregressive conditional hetereoscedasticity estimates find no statistically significant effect of the FSA on the value of land in Saskatchewan. This may indicate that the effect of the regulatory change is too small to be measured accurately.
Tipo: Journal Article Palavras-chave: Adaptive expectations; Farmland Security Act; Generalized autoregressive conditional heteroscedasticity; Present value; Seemingly unrelated regressions; Land Economics/Use; C51; G21; Q18.
Ano: 2002 URL: http://purl.umn.edu/15473
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Measuring the Credit Risk of AgriBank Loans under the New Basel Capital Accord: A Logit Regression Approach AgEcon
Hennings, Enrique; Sherrick, Bruce J..
Tipo: Conference Paper or Presentation Palavras-chave: Financial Economics; Q21; G21.
Ano: 2007 URL: http://purl.umn.edu/9987
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Do Cooperative Banks Really Serve Agricultural Sector in Poland? AgEcon
Zawojska, Aldona; Siudek, Tomasz.
The aim of the paper is to assess the potential of cooperative banks for serving agricultural sector in Poland and to identify the areas with the most development potential. We discuss the transformation process in the cooperative banking system under market economy, and in particular investigate importance of cooperative banks for farms' financing on the basis of our survey of banks. Moreover, the role of cooperative banks in transmission of Government policy supporting farm sector in Poland is discussed. We find that despite growing competition from the commercial banking sector, farms and rural households in Poland are still of major importance for the cooperative banks in Poland.
Tipo: Conference Paper or Presentation Palavras-chave: Cooperative banks; Agricultural sector; Poland; Agricultural Finance; G21; O18; Q14.
Ano: 2005 URL: http://purl.umn.edu/24479
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Microfinance Institutions: Does Capital Structure Matter? AgEcon
Bogan, Vicki.
Microfinance Institutions (MFIs) have risen to the forefront as invaluable institutions in the development process. Nevertheless, capital constraints have hindered the expansion of microfinance programs such that the demand for financial services still far exceeds the currently available supply. Moreover, it is observed that microfinance organizations have had various degrees of sustainability. Thus, the question of how best to fund these programs is a key issue. Recognizing the potential of microfinance in the development process, this paper examines the existing sources of funding for MFIs by geographic region, and explores how changes in capital structure could facilitate future growth and improve the efficiency and financial sustainability of MFIs....
Tipo: Working or Discussion Paper Palavras-chave: Microfinance Institutions; Capital structure; Financial Economics; F3; G21; G32; O1.
Ano: 2008 URL: http://purl.umn.edu/51125
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The Impact of Mergers on the Degree of Competition in the Banking Industry AgEcon
Cerasi, Vittoria; Chizzolini, Barbara; Ivaldi, Marc.
This paper analyses the relation between competition and concentration in the banking sector. The empirical answer is given by testing a monopolistic competition model of bank branching behaviour on individual bank data at county level (départements and provinces) in France and Italy. We propose a measure of the degree of competiveness in each local market that is function also of market structure indicators. We then use the econometric model to evaluate the impact of horizontal mergers among incumbent banks on competition and discuss when, depending on the pre-merger structure of the market and geographic distribution of branches, the merger is anti-competitive. The paper has implications for competition policy as it suggests an applied tool to evaluate...
Tipo: Working or Discussion Paper Palavras-chave: Banking Industry; Competition and Market Structure; Merger Policy; Financial Economics; G21; L13; L59.
Ano: 2010 URL: http://purl.umn.edu/92911
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Agricultural Banking and Early Warning Models for the Bank Failures of the Late 2000s Great Recession AgEcon
Li, Xiaofei; Escalante, Cesar L.; Epperson, James E.; Gunter, Lewell F..
This paper is designed to validate if the agricultural sector can once again be labeled as an instigator of the late-2000s Great Recession using the early warning models technique. The empirical results indicate that exposure to agribusiness operations does not necessarily enhance a banks’ tendency to fail.
Tipo: Presentation Palavras-chave: Agricultural Banking; Early warning signals; In-sample accuracy; Out-of-sample forecasting; Agricultural Finance; Research Methods/ Statistical Methods; G21; G32; G33; C01.
Ano: 2012 URL: http://purl.umn.edu/119656
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Change and Crisis in the Japanese Banking Industry AgEcon
Krawczyk, Mariusz K..
The weakness of the Japanese banking industry, suffering from acute problem of non-performing loans, prevents Japan from restoring sound growth rates despite having undertaken structural reforms and substantial fiscal policy efforts, and, through impairing transmission channels of monetary policy, it has also made ineffective efforts to stimulate the economy through "zero interest rates" and quantitative easing policy. Misunderstanding the roots of the banking crisis contributed greatly to its exceptional length and depth and prevented its early solution. Poor coordination and sequencing of liberalization of financial services together with macroeconomic policy mistakes have been responsible for the crisis. But the origins of those mistakes can be traced...
Tipo: Working or Discussion Paper Palavras-chave: Japanese economy; Banking crisis; Financial liberalisation; Financial Economics; G21; G28.
Ano: 2004 URL: http://purl.umn.edu/26383
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Cross-Border Securities Clearing and Settlement Infrastructure in the European Union as a Prerequisite to Financial Markets Integration: Challenges and Perspectives AgEcon
de Carvalho, Cynthia Hirata.
The importance of an efficient securities clearing and settlement system lies on the safer transfer of ownership of assets against payment. Such a system must be developed in a way to minimize the risks involved on securities transactions, and it must still offer lower costs, which do not hinder the intention to acquire or dispose securities. The cross-border securities clearing and settlement transactions within Europe, especially equities transactions, are still much higher and riskier than if cleared and settled domestically. The fragmented structure of local securities depositories is hindering the integration of financial markets in Europe, because investors are not stimulated to enjoy opportunities cross-border. Thus a smoothly functioning integrated...
Tipo: Working or Discussion Paper Palavras-chave: Securities settlement systems; Settlement designs; Models for consolidation of depository institutions; Costs of cross-border securities transactions; Financial integration; Financial Economics; F30; G21; O33.
Ano: 2004 URL: http://purl.umn.edu/26138
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Weather index drought insurance: an ex ante evaluation for millet growers in Niger AgEcon
Leblois, Antoine; Quirion, Philippe; Alhassane, Agali; Traore, Seydou.
In the Sudano-Sahelian region, which includes South Niger, the inter-annual variability of the rainy season is high and irrigation is scarce. As a consequence, bad rainy seasons have a massive impact on crop yield and regularly entail food crises. Traditional insurances based on crop damage assessment are not available because of asymmetric information and high transaction costs compared to the value of production. We assess the risk mitigation capacity of an alternative form of insurance which has been implemented in India since 2003: insurance based on a weather index. We compare the capacity of various weather indices to increase utility of a representative risk-averse farmer. We show the importance of using plot-level yield data rather than village...
Tipo: Presentation Palavras-chave: Agriculture; Index-based insurance.; Crop Production/Industries; Risk and Uncertainty; G21; O12; Q12; Q18; Q54..
Ano: 2011 URL: http://purl.umn.edu/120378
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The Formation of Financial Networks AgEcon
Babus, Ana.
Modern banking systems are highly interconnected. Despite their various benefits, the linkages that exist between banks carry the risk of contagion. In this paper we investigate how banks decide on direct balance sheet linkages and the implications for contagion risk. In particular, we model a network formation process in the banking system. Banks form links order to reduce the risk of contagion. The network is formed endogenously and serves as an insurance mechanism. We show that banks manage to form networks that are resilient to contagion. Thus, in an equilibrium network, the probability of contagion is virtually 0.
Tipo: Working or Discussion Paper Palavras-chave: Financial Stability; Network Formation; Contagion Risk; Financial Economics; C70; G21.
Ano: 2007 URL: http://purl.umn.edu/9100
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Pure Contagion Effects in International Banking: The Case of BCCI´s Failure AgEcon
Kanas, Angelos.
We test for pure contagion effects in international banking arising from the failure of the Bank of Credit and Commerce International (BCCI), one of the largest bank failures in the world. We focused on large individual banks in three developed countries where BCCI had established operations, namely the UK, the US, and Canada. Using event study methodology, we tested for contagion effects using time windows surrounding several known BCCI-related announcements. Our analysis provides strong evidence of pure contagion effects in the UK, which have arisen prior to the official closure date. In contrast, there is no evidence of pure contagion effects in the US and Canada.
Tipo: Journal Article Palavras-chave: Bank failures; Pure contagion effects; Event study methodology; Abnormal returns; G21; G28.
Ano: 2005 URL: http://purl.umn.edu/37495
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Formal credit institutions in agriculture of Kazakhstan (micro-econometric analysis) AgEcon
Gaisina, Sholpan.
The financing of agricultural producers is one of the most acute problems along the entire scope of economic reforms in Kazakhstan. The issue is: What kind of financial sources could maintain the development of agricultural production? Internal sources such as profit, depreciation capital, and various reserve and insurance funds can not be considered as a key financial base. State financial support of agriculture in Kazakhstan (which plays a significant role in the most developed countries), is episodic in nature, small in size and typically does not reach the recipients. In these circumstances, a potential supplier of financial and investment resources could be a banking system and such non-banking credit institutions as credit cooperatives....
Tipo: Conference Paper or Presentation Palavras-chave: Agricultural finance; Credit rationing; Micro-econometrics analysis; Agricultural and Food Policy; Institutional and Behavioral Economics; Political Economy; G21; O16; Q 14.
Ano: 2010 URL: http://purl.umn.edu/90801
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Credit Risk Assessment and Racial Minority Lending at the Farm Service Agency AgEcon
Escalante, Cesar L.; Brooks, Rodney L.; Epperson, James E.; Stegelin, Forrest E..
The nature of credit risk assessment and basis of loan approval decisions of the Farm Service Agency are analyzed in the aftermath of the black farmers’ 1997 class action suit against the U.S. Department of Agriculture. This study did not uncover convincing evidence of racial discrimination against nonwhite borrowers under a binomial logistic framework based on the probability of a loan application’s approval. Moreover, the collective use of more stringent and objective credit-scoring measures usually employed by commercial lenders is less evident in the Farm Service Agency’s evaluation of loan applications.
Tipo: Journal Article Palavras-chave: Binomial logistic regression; Credit risk; Credit-scoring model; Direct lending; Farm Service Agency; Guaranteed lending; Racial bias; Agricultural Finance; Risk and Uncertainty; G20; G21; G28; Q10; Q14.
Ano: 2006 URL: http://purl.umn.edu/43749
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Bringing "Honest Capital" to Poor Borrowers: The Passage of the Uniform Small Loan Law, 1907-1930 AgEcon
Carruthers, Bruce G.; Guinnane, Timothy W.; Lee, Yoonseok.
The Uniform Small Loan Law (USLL) was the Russell Sage Foundation’s primary device for fighting what it viewed as the scourge of high-rate lending to poor people in the first half of the twentieth century. The USLL created a new class of lenders who could make small loans at interest rates exceeding those allowed for banks under the normal usury laws. About two-thirds of the states had passed the USLL by the 1930. This paper describes the USLL and then uses econometric models to investigate the state characteristics that influenced the law’s passage. We find that urbanization and state-level economic characteristics played significant roles. So did measures of the state’s banking system. We find no evidence that party-political affiliations had any effect,...
Tipo: Working or Discussion Paper Palavras-chave: Uniform law; Small loans; Consumer credit; Usury laws; Consumer/Household Economics; Financial Economics; Political Economy; N21; N22; I38; G21; G28; K23.
Ano: 2009 URL: http://purl.umn.edu/50949
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Financial Markets and Agricultural Credit at a Time of Uncertainty AgEcon
Ellinger, Paul N..
Tipo: Journal Article Palavras-chave: Agricultural Finance; G01; G21; G38.
Ano: 2009 URL: http://purl.umn.edu/94699
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Co-operative Bank System: The Spanish Case AgEcon
Navarro, Amparo Melian.
In practically all European countries, co-operative credit societies have evolved towards a system which is comparable to other financial groups. This paper explores the recent evolution of Spanish credit co-operatives and especially rural savings banks. The creation of "Group Caja Rural" in 1989, has meant the greatest commitment to the integration of Spanish credit co-operatives in the face of the challenges of economic globalisation and the great changes in the national and international financial system. The running of this Group is through a vertebrate structure, in co-ordination and representation aspects as well as in operative functions.
Tipo: Conference Paper or Presentation Palavras-chave: Co-operative bank; Credit system; Financial groups; Rural savings bank; Spain; Agricultural Finance; G21; Q13; Q14.
Ano: 2005 URL: http://purl.umn.edu/24530
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Política económica y desarrollo del sistema financiero peruano, parte I: diagnóstico AgEcon
Caceres Valderrama, Armando; Nagamine Akamine, Javier.
Este documento realiza un diagnóstico de la situación del sistema financiero peruano a principios de 1990. La principal problemática que se observa es la pérdida de importancia del sistema financiero en el proceso ahorro-inversión en el Perú que se agudiza a partir de 1988. Este es un primer paso para la elaboración de una propuesta de reforma del sistema financiero.
Tipo: Working or Discussion Paper Palavras-chave: Sistemas bancarios; Mercado financiero; Politica economica; Banking systems; Financial market; Economic policy; Peru; Financial Economics; E62; G21; N26.
Ano: 1991 URL: http://purl.umn.edu/42261
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Scope Economies of Lending and Collecting Deposits in Microfinance Institutions AgEcon
Hartarska, Valentina M.; Parmeter, Christopher F..
While economies of scope of lending and mobilizing deposits in banking are justified theoretically (Diamond, 1984) and found empirically (see Saunders, 1999), in microfinance, the existence and the magnitudes of scope economies has not been investigated. We use a semi parametric smooth coefficient model to estimate these economies using the largest publicly available dataset of over 2,800 annual observations from MFIs across the world. We accommodate the outreach objective of Microfinance Institutions (MFIs) by measuring outputs as the number of clients (borrowers and savers) rather than the traditional volume of loans and deposits and compare the results from the two cost functions. We find substantial scope economies of 47 percent on average. The results...
Tipo: Conference Paper or Presentation Palavras-chave: Scope Economies; Microfinance Institutions; Rural Banks; Agricultural Finance; Financial Economics; International Development; Research Methods/ Statistical Methods; G21; F30; C14.
Ano: 2009 URL: http://purl.umn.edu/51799
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Spatial Competition and Market Power in Banking AgEcon
Richards, Timothy J.; Acharya, Ram N.; Kagan, Albert.
Banks in non-metropolitan areas compete in a spatially-differentiated environment. Particularly with the advent of electronic banking services, however, there is some question as to how much market power is conferred by spatial separation from rivals. This paper estimates a structural model of the supply and demand of banking services in which pricing power is allowed to depend explicitly on the distance between rival banks. A spatial autoregressive econometric model shows that approximately 38.0% of economic surplus earned by firms in non-metropolitan banking in the upper midwest is due to spatial market power.
Tipo: Conference Paper or Presentation Palavras-chave: Banking; Market power; Non-metropolitan markets; Spatial econometrics; Community/Rural/Urban Development; Financial Economics; C21; D43; G21; L13.
Ano: 2007 URL: http://purl.umn.edu/6566
Registros recuperados: 37
Primeira ... 12 ... Última
 

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