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Finance and Private Sector Development: 2010 Publications

Journal Articles
Book 
Book Chapters
Conferences & Seminars
Data and Tools
Outreach 
Working Papers



Journal Articles

Anginer, Deniz, and Meir Statman. 2010. “Stocks of Admired and Spurned Companies.” The Journal of Portfolio Management 36(3): 71–77.

Beck, Thorsten, and Maria Soledad Martinez Peria. 2010. “Foreign Bank Participation and Banking Sector Outreach: Evidence from Mexico.” Journal of Financial Intermediation 19(1): 52–73.

Beck, Thorsten, Asli Demirgüç-Kunt, and Ross Levine. 2010. “Financial Institutions and Markets across Countries and over Time.” World Bank Economic Review 24(1): 77–92.

Beck, Thorsten, Leora Klapper, and Juan Carlos Mendoza. 2010. “The Typology of Partial Credit Guarantee Funds around the World.” Journal of Financial Stability 6(1): 10–25.

Bloom, Nick, Aprajit Mahajan, David McKenzie, and John Roberts. 2010. “Why do Firms in Developing Countries have Low Productivity?” American Economic Review Papers and Proceedings 100(2): 619–23.

Bruhn, Miriam, Dean Karlan, and Antoinette Schoar. 2010. “What Capital Is Missing in Developing Countries?” American Economic Review: Papers & Proceedings 100(2): 629–33.

Caprio, Gerard, Asli Demirgüç-Kunt, and Edward Kane. 2010. “The 2007 Meltdown in Structured Securitization: Searching for Lessons not Scapegoats.” World Bank Research Observer 25(1): 125–55.

Cull, Robert J., and Kinnon Scott. 2010. “Measuring Household Usage of Financial Services: Does it Matter How or Whom You Ask?” World Bank Economic Review 24(2): 199–233.

de la Torre, Augusto, Maria Soledad Martinez Peria, and Sergio Schmukler. 2010. “Bank Involvement with SMEs: Beyond Relationship Lending.” Journal of Banking and Finance 34: 2280–93.

De Mel, Suresh, David McKenzie, and Christopher Woodruff. 2010. “Wage Subsidies for Microenterprises.” American Economic Review Papers and Proceedings 100(2): 614–18.

Demirgüç-Kunt, Asli, and Luis Servén. 2010. “Are All the Sacred Cows Dead? Implications of the Financial Crisis for Macro- and Financial Policies.” World Bank Research Observer 25(1): 91–124.

Delavande, Adeline, Xavier Giné, and David McKenzie. 2010.Measuring Subjective Expectations in Developing Countries: A Critical Review and New Evidence.” Journal of Development Economics 94(2): 151–63.

Gibson, John, Halahingano Rohorua, David McKenzie, and Steven Stillman. 2010. “Information Flows and Migration: Recent Survey Evidence from the South Pacific.” Asian and Pacific Migration Journal 19(3): 401–20.

Giné, Xavier, Dean Karlan, and Jonathan Zinman. 2010. “Put Your Money Where Your Butt Is: A Commitment Contract for Smoking Cessation.” American Economic Journal: Applied Economics 2(4): 213–35.

Giné, Xavier, Dean Karlan, Pamela Jakiela, and Jonathan Morduch. 2010. “Microfinance Games.” American Economic Journal: Applied Economics 2(3): 60–95.

Gozzi, Juan Carlos, Ross Levine, and Sergio Schmukler. 2010. “Patterns of International Capital Raisings.” Journal of International Economics 8(1): 45–57.

Khwaja, Asim, Atif Mian, and Bilal Zia. 2010. “Dollars Dollars Everywhere and Not a Dime to Lend – Credit Limit Constraints on Financial Sector Absorptive Capacity.” Review of Financial Studies 23(12): 4281–23.

Love, Inessa, and Rida Zaidi. 2010. “Trade Credit, Bank Credit and Financial Crisis.” International Review of Finance 10(1): 125–47. 

Levy-Yeyati, Eduardo, Maria Soledad Martinez Peria, and Sergio Schmukler. 2010. “Depositor Behavior under Macroeconomic Risk: Evidence of Bank Runs in Emerging Economies.” Journal of Money Credit and Banking 42(4): 585–614.

McKenzie, David. 2010. “Impact Assessments in Finance and Private Sector Development: What have we learned and what should we learn?” World Bank Research Observer 25(2): 209–33.

McKenzie, David, and Hillel Rapoport. 2010. “Self-Delection Patterns in Mexico-U.S. Migration: The Role of Migrant Networks.” Review of Economics and Statistics 92(4): 811–21.

McKenzie, David, and Yaye Seynabou Sakho. 2010. “Does It Pay Firms to Register for Taxes? The Impact of Formality on Firm Profitability.” Journal of Development Economics 91(1): 15–24.

McKenzie, David, Steven Stillman, and John Gibson. 2010. “How Important is Selection? Experimental vs Non-experimental Measures of the Income Gains from Migration?” Journal of the European Economic Association 8(4): 913–45.

Merrouche, Ouarda, and Jochen Schanz. 2010. “Banks’ Intraday Liquidity Management during Operational Outages: Theory and Evidence from the UK Payment System.” Journal of Banking & Finance 34(2): 314–23.


 

Book

Klapper, Leora, and Inessa Love, with Elena Cirmizi, Caroline Giraud, and Douglas Randall. 2010. Entrepreneurial Snapshots 2010: Measuring the Impact of the Financial Crisis on New Business Registration. Washington, DC: World Bank.
Order | Download


 

Book Chapters

De Mel, Suresh, David McKenzie, and Christopher Woodruff. 2010. “Who Are the Microenterprise Owners? Evidence from Sri Lanka on Tokman v. de Soto.” In International Differences in Entrepreneurship, ed. Joshua Lerner and Antoinette Schoar. University of Chicago Press.

Demirgüç-Kunt, Asli. 2010. “Finance and Economic Development: The Role of Government.” In The Oxford Handbook of Banking, ed. Allen Berger, Philip Molyneux, and John Wilson. Oxford University Press. 

Giné, Xavier, Robert Townsend, and James Vickery. 2010. “Rainfall Insurance in Semi-Arid India: Contract Design, Household Participation and Future Prospects.” In Weather Risk Management, ed. K. Tang. London, UK: RiskBooks. 

Giné, Xavier. 2010. “Experience with Weather Index-based Insurance in India and Malawi.” In Innovations in Ensuring the Poor, ed. Ruth Hill and Maximo Torero. Washington, DC: IFPRI.

Giné, Xavier. 2010. “Use of Biometric Technology in Rural Credit Markets: The Case of Malawi“. In Innovations in Rural and Agricultural Finance, ed. R. Kloeppinger-Todd and M. Sharma. IFPRI 2020 Focus 18: IFPRI, Washington, DC.

Klapper, Leora, Raphael Amit, and Mauro F. Guillén. 2010. “Entrepreneurship and Firm Formation across Countries.” In International Differences in Entrepreneurship, ed. Joshua Lerner and Antoinette Schoar. Cambridge, Mass.: National Bureau of Economic Research. 

Klapper, Leora, Maria Soledad Martinez Peria, and Bilal Husnain Zia. 2010. “Banking in Developing Nations of Asia: An Overview of Recent Changes in Ownership Structure.” In Oxford Handbook of Banking. Ed. Allen Berger, Philip Molyneux, and John Wilson. Oxford University Press.


 

Conferences & Seminars

Finance and Private Sector Seminars
The World Bank Finance and Private Sector Seminar Series is an event where leading academic scholars in the finance field are invited to present their recent work. A total of 10 seminars were held in 2010.
Contact: Deniz Anginer, research@worldbank.org.
Seminars and Papers 
 


 

Data and Tools

Financial Development and Structure – Updates November 2010
This dataset, revised in 2010, includes additional variables (two indicators of deposits in banks and in financial institutions relative to GDP added in 2007, and standard banking variables (ROE, ROA, cost-income ratio and z-score), as well as measures of financial globalization.
Contact: Asli Demirgüç-Kunt, Email:
 research@worldbank.org
Data

A Package of Programs to Estimate Panel VAR in STATA – New October 2010
Contact Inessa Love, Email:
 research@worldbank.org 
Program package

World Bank Group Enterprise Snapshots 2010 – Updates November 2010
This comprehensive dataset on cross-country firm entry is used to explore key trends in new business creation in 112 emerging and industrial countries.
Contact: Leora Klapper and Inessa Love, Email: research@worldbank.org
Data

Partial Credit Guarantee Funds around the World - New
Data on 76 partial credit guarantee schemes across 46 developed and developing countries is used to better understand the typology of credit guarantee schemes around the world. Supports Policy Research Working Paper
 4771, 2008.
Contact: Leora Klapper,
 E
mail: research@worldbank.org
Data
 


 

Outreach

Anginer, Deniz. 2010. “The Chrysler Effect: The Impact of the Chrysler Bailout on Borrowing Costs.” Blog post on “All About Finance,” World Bank, Washington, DC, 19 October 2010.

Ayyagari, Meghana, Asli Demirgüç-Kunt, and Vojislav Maksimovic. 2010. “Can Informal Finance Substitute for Formal Finance? World Bank Research Digest 4(2, Winter): 7.

Bloom, Nick, Benn Eifert, Aprajit Mahajan, David McKenzie, and John Roberts. 2010. “Improving Management in India .” Finance and PSD Impact Note 10, Development Research Group, World Bank, Washington, DC, May.

Bruhn, Miriam. 2010. Did Yesterday’s Patterns of Colonial Exploitation Determine Today’s Patterns of Poverty?” Blog post on “All About Finance,” World Bank, Washington, DC, 23 November 2010.

Cull, Robert J. 2010. “M-PESA: Mobile Payments, Improved Lives for Kenyans.” Research Brief (online), Development Research Group, World Bank, Washington, DC, May.

Demirgüç-Kunt, Asli. 2010. “Taking Stock of Our Research in 2009: Relevance, Quality, and Impact.” Research Brief (online), Development Research Group, World Bank, Washington, DC, March.

Demirgüç-Kunt, Asli. 2010. “IMF Unveils Its Online Database on Financial Access!“ Research Brief (online), Development Research Group, World Bank, Washington, DC, July.

Demirgüç-Kunt, Asli. 2010. “Life After the Crisis: Where Do We Go from Here?” Blog post on “All about Finance,” World Bank, Washington, DC, 28 January 2010.

Demirgüç-Kunt, Asli. 2010. “Too Big to Fail, or Too Big to Save?” Blog post on “All About Finance,” World Bank, Washington, DC, 26 August 2010.

Demirgüç-Kunt, Asli. 2010. “Corruption and Finance: Are Innovative Firms Victims or Perpetrators?” Blog post on “All About Finance,” World Bank, Washington, DC, 8 September 2010.

Demirgüç-Kunt, Asli. 2010. “Financial Access and the Crisis: Where Do We Stand?” Blog post on “All About Finance,” World Bank, Washington, DC, 17 September 2010.

Demirgüç-Kunt, Asli. 2010. “Islamic Banking: Can it Save Us from Crises?” Blog post on “All About Finance,” World Bank, Washington, DC, 8 November 2010.

Demirgüç-Kunt, Asli, and Erica Detragiache. 2010. “Basel Core Principles and Bank Soundness.” World Bank Research Digest 4(4, Summer): 1, 8.

Demirgüç-Kunt, Asli, and Harry Huizinga. 2010. “Too Big to Fail or Too Big to Save?” World Bank Research Digest 5(1, Fall): 3.

Demirgüç-Kunt, Asli, and Harry Huizinga. 2010. “What Does the Financial Crisis Teach Us about Different Banking Models?” World Bank Research Digest 4(3, Spring): 5.

Demirgüç-Kunt, Asli, and Leora Klapper. 2010. “The Global Financial Inclusion Indicators: An Important Step towards Measuring Access to Finance.” Blog post on “All About Finance,” World Bank, Washington, DC, 16 November 2010.

Demirgüç-Kunt, Asli, Meghana Ayyagari, and Vojislav Maksimovic. 2010. “Can Informal Finance Substitute for Formal Finance?“ Research Brief (online), Development Research Group, World Bank, Washington, DC, January.

Gibson, John, and David McKenzie. 2010. “Spurring Development through a Seasonal Migration Program.” Finance and PSD Impact Note 12, Development Research Group, World Bank, Washington, DC, December. 

Gibson, John, and David McKenzie. 2010. “What Are the Development Impacts of ‘Best Practice’ Seasonal Migration Schemes?– A Commentary.” VoxEU.org, Portal of the Centre for Economic Policy Research, 13 November 2010.

Giné, Xavier. 2010. “Using Biometric Technology in Rural Credit Markets: The Case of Malawi .” Finance and PSD Impact Note 11, Development Research Group, World Bank, Washington, DC, May.

Klapper, Leora. 2010. “Can the Business Environment Explain International Differences in Entrepreneurial Finance?” Blog post on “All About Finance,” World Bank, Washington, DC, 19 July 2010.

Klapper, Leora. 2010. “The Challenges of Bankruptcy Reform.” Blog post on “All About Finance,” World Bank, Washington, DC, 2 November 2010.

Klapper, Leora. 2010. “The Impact of the Crisis on New Firm Registration.” Blog post on “All About Finance,” World Bank, Washington, DC, 12 October 2010.

Klapper, Leora, and Douglas Randall. 2010. “The Impact of the Financial Crisis on Supply-Chain Financing.” Enterprise Note 13, Enterprise Surveys, World Bank Washington, DC.

Klapper, Leora, and Inessa Love. 2010. “New Firm Creation.” Viewpoint, Note 324, World Bank, Washington, DC, September.

Klapper, Leora, Inessa Love, and Larry Chavis. 2010. “International Differences in Entrepreneurial Finance.” Enterprise Note 11, Enterprise Surveys, World Bank, Washington, DC, July.

Love, Inessa. 2010. “Business Environment Reforms: Distinguishing Tokenism from the Real Thing.” Blog post on “All About Finance,” World Bank, Washington, DC, 2 December 2010.

Martinez Peria, Maria Soledad. 2010. “Measuring Bank Competition: How Should We Do It?” Blog post on “All About Finance,” World Bank, Washington, DC, 8 December 2010.

Martinez Peria, Maria Soledad. 2010. “What Do We Know about the Consequences of Foreign Bank Participation in Developing Countries?” Blog post on “All About Finance,” World Bank, Washington, DC, 20 April 2010.

Martinez Peria, Maria Soledad. 2010. “What Do We Know About the Impact of Remittances on Financial Development?” Blog post on “All About Finance,” World Bank, Washington, DC, 2 September 2010.

Martinez Peria, Maria Soledad. 2010. “What Drives the Price of Remittances?: New Evidence Using the Remittance Prices Worldwide Database.” Blog post on “All About Finance,” World Bank, Washington, DC, 6 August 2010.

McKenzie, David. 2010. “The Most Effective Development Intervention We Have Evidence For?” Blog post on “All About Finance,” World Bank, Washington, DC, 7 December 2010.

McKenzie, David. 2010. “The Returns to Better Management.” Blog post on “All About Finance,” World Bank, Washington, DC, 15 October 2010.

McKenzie, David. 2010. “Job Creation and the Global Financial Crisis.” Blog post on “All About Finance,” World Bank, Washington, DC, 16 June 2010.

McKenzie, David. 2010. “Impact Assessment Meets the Market.” Blog post on “All About Finance,” World Bank, Washington, DC, 4 June 2010.

McKenzie, David, and David Robalino.2010. “Jobs and the Crisis: What Has Been Done and Where to Go from Here?” Viewpoint, Note 325, World Bank, Washington, DC, October.

Levy-Yeyati, Eduardo, Maria Soledad Martinez Peria, and Sergio Schmukler. 2010. “Bank Runs in Emerging Economies.” World Bank Research Digest 5(1,Fall): 4.

Zia, Bilal. 2010. “The Fad of Financial Literacy?” Blog post on “All About Finance,” World Bank, Washington, DC, 12 August 2010.

Interest Bearing Notes Newsletter
A bi-monthly report on research by the Finance and Private Sector Research Team in the World Bank’s Development Research Group, it reports on research done by the team as well as non-World Bank research, conferences, related websites, new datasets, and other research and policy-oriented news.
Contact: Miriam Bruhn, Robert Cull, and Inessa Love. Email:
 research@worldbank.org
Subscribe | Archives


 

Working Papers

Anginer, Deniz. 2010. “Liquidity Clienteles: Transaction Costs and Investment Decisions of Individual Investors.” Policy Research Working Paper 5318, World Bank, Washington, DC.

Anginer, Deniz, and Çelim Yildizhan. 2010. “Is There a Distress Risk Anomaly? Corporate Bond Spread as a Proxy for Default Risk.” Policy Research Working Paper 5319, World Bank, Washington, DC.

AnGiner, Deniz, and Joseph Warburton. 2010. “The Chrysler Effect: The Impact of the Chrysler Bailout on Borrowing Costs.” Policy Research Working Paper 5462, World Bank, Washington, DC. 

Anzoategui, Diego, Maria Soledad Martinez Peria, and Martin Melecky. 2010. “Banking Sector Competition in Russia.” Policy Research Working Paper 5449, World Bank, Washington, DC. 

Anzoategui, Diego, Martinez Peria, Maria Soledad, and Roberto R. Rocha, and. 2010. “Bank Competition in the Middle East and Norther Africa Region.” Policy Research Working Paper 5363, World Bank, Washington, DC. 

Ayyagari, Meghana, Asli Demirguc-Kunt, and Vojislav Maksimovic. 2010. “Are Innovating Firms Victims or Perpetrators? Tax Evasion, Bribe Payments, and the Role of External Finance in Developing Countries.” Policy Research Working Paper 5389, World Bank, Washington, DC. 

Beck, Thorsten, Asli Demirguc-Kunt, and Ouarda Merrouche. 2010. “Islamic vs. Conventional Banking: Business Model, Efficiency and Stability.” Policy Research Working Paper 5446, World Bank, Washington, DC. 

Beck, Thorsten, Michael J. Fuchs, Jared Getenga, Peter Gatere, John Randa, and Mircea Trandafir. 2010. “Banking Sector Stability, Efficiency, and Outreach in Kenya.” Policy Research Working Paper 5442, World Bank, Washington, DC. 

Bollard, Albert, David McKenzie, and Melanie Morten. 2010. “The Remitting Patterns of African Migrants in the OECD.” Policy Research Working Paper 5260, World Bank, Washington, DC. 

Bruhn, Miriam, Francisco Gallego, and Massimiliano Onorato. 2010. “Legislative Malapportionment and Institutional Persistence.” Policy Research Working Paper 5467, World Bank, Washington, DC. 

Caprio, Gerard. 2010. “Safe and Sound Banking: A Role for Countercyclical Regulatory Requirements?” Policy Research Working Paper 5198, World Bank, Washington, DC. 

Carpena, Fenella, Shawn Cole, Jeremy Shapiro, and Bilal Zia. 2010. “Liability Structure in Small-scale Finance: Evidence from a Natural Experiment.” Policy Research Working Paper 5427, World Bank, Washington, DC. 

Chavis, Larry, Leora Klapper, and Inessa Love. 2010. “The Impact of the Business Environment on Young Firm Financing.” Policy Research Working Paper 5322, World Bank, Washington, DC. 

Cirmizi, Elena, Leora Klapper, and Mahesh Uttamchandani. 2010. “The Challenges of Bankruptcy Reform.” Policy Research Working Paper 5448, World Bank, Washington, DC. 

Cole, Shawn, Xavier Giné, Jeremy Tobacman, Petia Topalova, Robert Townsend, and James Vickery. 2010. “Barriers to Household Risk Management: Evidence from India.” Policy Research Working Paper 5504, World Bank, Washington, DC.

Cull, Robert J., and Maria Soledad Martinez Peria. 2010. “Foreign Bank Participation in Developing Countries: What Do We Know about the Drivers and Consequences of this Phenomenon?” Policy Research Working Paper 5398, World Bank, Washington, DC. 

Delavande, Adeline, David McKenzie, and Xavier Gine. 2010. “Eliciting Probabilistic Expectations with Visual Aids in Developing Countries: How Sensitive Are Answers to Variations in Elicitation Design?” Policy Research Working Paper 5458, World Bank, Washington, DC. 

De Mel, Suresh, David McKenzie, and Christopher Woodruff. 2010. “Enterprise Recovery following Natural Disasters.” Policy Research Working Paper 5269, World Bank, Washington, DC. 

Demirguc-Kunt, Asli, and Harry Huizinga. 2010. “Are Banks Too Big to Fail or Too Big to Save? International Evidence from Equity Prices and CDS Spreads.” Policy Research Working Paper 5360, World Bank, Washington, DC. 

Demirguc-Kunt, Asli, and Maria Soledad Martinez Peria. 2010. “A Framework for Analyzing Competition in the Banking Sector : An Application to the Case of Jordan.” Policy Research Working Paper 5499, World Bank, Washington, DC. 

Demirguc-Kunt, Asli, Enrica Detragiache, and Ouarda Merrouche. 2010. “Bank Capital: Lessons from the Financial Crisis.” Policy Research Working Paper 5473, World Bank, Washington, DC. 

Didier, Tatiana, Inessa Love, and Maria Soledad Martinez Peria. 2010. “What Explains Stock Markets’ Vulnerability to the 2007-2008 Crisis?” Policy Research Working Paper 5224, World Bank, Washington, DC. 

Gibson, John, and David McKenzie. 2010. “The Development Impact of a Best Practice Seasonal Worker Policy.” Policy Research Working Paper 5488, World Bank, Washington, DC. 

Gibson, John, and David McKenzie. 2010. “The Economic Consequences of”Brain Drain” of the Best and Brightest: Microeconomic Evidence from Five Countries.” Policy Research Working Paper 5394, World Bank, Washington, DC.

Gibson, John, David McKenzie, and Steven Stillman. 2010. “Accounting for Selectivity and Duration-Dependent Heterogeneity when Estimating the Impact of Emigration on Incomes and Poverty in Sending Areas.” Policy Research Working Paper 5268, World Bank, Washington, DC. 

Giné, Xavier, Jessica Goldberg, and Dean Yang. 2010. “Identification Strategy: A Field Experiment on Dynamic Incentives in Rural Credit Markets.” Policy Research Working Paper 5438, World Bank, Washington, DC. 

Giné, Xavier, Lev Menand, Robert Townsend, and James Vickery. 2010. “Microinsurance: A Case Study of the Indian Rainfall Index Insurance Market.” Policy Research Working Paper 5459, World Bank, Washington, DC.

Honohan, Patrick, and Sean Yoder. 2010. “Financial Transactions Tax: Panacea, Threat, or Damp Squib?” Policy Research Working Paper 5230, World Bank, Washington, DC. 

Klapper, Leora, and Inessa Love. 2010. “The Impact of Business Environment Reforms on New Firm Registration.” Policy Research Working Paper 5493, World Bank, Washington, DC. 

Klapper, Leora, and Inessa Love. 2010. “The Impact of the Financial Crisis on New Firm Registration.” Policy Research Working Paper 5444, World Bank, Washington, DC. 

Klapper, Leora, Luc Laeven, and Raghuram Rajan. 2010. “Trade Credit Contracts.” Policy Research Working Paper 5328, World Bank, Washington, DC.

Love, Inessa. 2010. “Corporate Vulnerability and Bank Stability: Evidence from Jordan.” Policy Research Working Paper 5502, World Bank, Washington, DC.

McKenzie, David, and Dean Yang. 2010. “Experimental Approaches in Migration Studies.” Policy Research Working Paper 5395, World Bank, Washington, DC.

Merrouche, Ouarda, and Erlend Nier. 2010. “Payment Systems, Inside Money and Financial Intermediation.” Policy Research Working Paper 5445, World Bank, Washington, DC. 

Xu, L. Colin. 2010. “The Effects of Business Environments on Development: Surveying New Firm-Level Evidence.” Policy Research Working Paper 5402, World Bank, Washington, DC. 

Xu, L. Colin, Taye Alemu Mengistae, and Daniel Lederman. 2010. “Microeconomic Consequences and Macroeconomic Causes of Foreign Direct Investment in Southern African Economies.” Policy Research Working Paper 5416, World Bank, Washington, DC.


 




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