O17 - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements

• Financial Development Beyond the Formal Financial Market

  Staff Working Paper 2018-49 Lin Shao

  This paper studies the effects of financial development, taking into account both formal and informal financing. Using cross-country firm-level data, we document that informal financing is utilized more by rich countries than poor countries.

  Content Type(s): Staff research, Staff working papers Topic(s): Financial markets, Firm dynamics, Productivity JEL Code(s): E, E4, E44, O, O1, O17, O4, O47

• The Institutional and Political Determinants of Fiscal Adjustment

  Staff Working Paper 2006-1 Robert Lavigne

  The author empirically assesses the effects of institutional and political factors on the need and willingness of governments to make large fiscal adjustments.

  Content Type(s): Staff research, Staff working papers Topic(s): Development economics, Econometric and statistical methods, Fiscal policy, International topics JEL Code(s): E, E6, E62, O, O1, O17, O19

• Do Peer Group Members Outperform Individual Borrowers? A Test of Peer Group Lending Using Canadian Micro-Credit Data

  Staff Working Paper 2003-33 Rafael Gomez, Eric Santor

  Microfinance institutions now serve over 10 million poor households in the developing and developed world, and much of their success has been attributed to their innovative use of peer group lending. There is very little empirical evidence, however, to suggest that group lending schemes offer a superior institutional design over lending programs that serve individual borrowers.

  Content Type(s): Staff research, Staff working papers Topic(s): Development economics JEL Code(s): E, J, J2, J23, O, O1, O17