Volume 10, Issue 1, January-December 2023
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Firms’ risk-taking for customers’ benefit and its relevance with performance relative to aspiration
Gender diversity on corporate boards and earnings management: Evidence for European Union listed firms
Factors affecting human resource agility: A literature review and future research directions
FDI, spillover, and government subsidy: Micro-Econometric evidence from China
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What is the effect of imported inflation and central bank credibility on the poor and rich?
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Liquidity Provision and Financial Stability
Abstract
When financial intermediaries' key characteristic is provision of liquidity through their liabilities, with financial frictions, the financial sector in the aggregate is likely to overaccumulate equity, thus decreasing liquidity provision and household welfare. Aggregate household welfare is therefore decreasing in the level of aggregate intermediary equity even though the individual value of intermediaries is increasing in equity, which is why intermediaries overaccumulate equity. Subsidizing intermediary dividends can improve welfare by encouraging earlier payout and decreasing aggregate equity in the financial sector. This policy increases the likelihood that intermediaries provide more liquidity and improves the stability of the economy, even though asset prices fall.
How digital innovation affects women’s entrepreneurship in Africa? An analysis of transmission channels
The International Journal of Entrepreneurship and Innovation, Ahead of Print.
Digital innovations in Africa have increased dramatically over the past two decades, and are fueling a rich literature. In this paper, we examine their impact and transmission channels on women's entrepreneurship in a sample of 54 African countries. We specify and estimate a cross-sectional data model by generalized least squares (GLS) over the period of 1996–2020. Our results show that digital innovations (measured by researchers in R&D, firms in R&D, patents owed by residents, patents owed by non-residents) significantly reduce women's entrepreneurship in Africa. Their effects are mediated by energy, female education, the internet, mobile phones, migration and marriage. We suggest strengthening the digital infrastructure for sustainable women's entrepreneurship in Africa.
Digital innovations in Africa have increased dramatically over the past two decades, and are fueling a rich literature. In this paper, we examine their impact and transmission channels on women's entrepreneurship in a sample of 54 African countries. We specify and estimate a cross-sectional data model by generalized least squares (GLS) over the period of 1996–2020. Our results show that digital innovations (measured by researchers in R&D, firms in R&D, patents owed by residents, patents owed by non-residents) significantly reduce women's entrepreneurship in Africa. Their effects are mediated by energy, female education, the internet, mobile phones, migration and marriage. We suggest strengthening the digital infrastructure for sustainable women's entrepreneurship in Africa.