nep-tra New Economics Papers
on Transition Economics
Issue of 2007‒07‒20
two papers chosen by
J. David Brown
Heriot-Watt University

  1. The design of bank loan syndicates in Emerging Markets Economies By Godlewski, Christophe
  2. Child Mortality In China And Vietnam In A Comparative Perspective By Alberto, Gabriele; Francesco, Schettino

  1. By: Godlewski, Christophe
    Abstract: We empirically explore the influence of loan characteristics, banking and financial structure, and regulatory and institutional factors on the design of 10,930 bank loan syndicates in emerging market economies from 1990 to 2006. Our results show that the structure of syndicates is adapted to enhance monitoring of the borrower and to increase the efficiency of re-contracting process in case of borrower's distress. Main syndication motives, such as loans portfolio diversification, regulatory pressure and management costs reduction, influence syndicate design in emerging markets economies.
    Keywords: Bank; Loan; Syndication; Syndicate Structure; Emerging Markets; Poisson Regressions.
    JEL: G21 C25
    Date: 2007–07
  2. By: Alberto, Gabriele; Francesco, Schettino
    Abstract: This paper analyzes China’s and Vietnam’s performance in reducing under-five child mortality in a comparative perspective. Under the market socialist model, both countries achieved very high rates of GDP growth, but income distribution and the provision of key public services deteriorated. As a result, child mortality reduction in China and Vietnam was only partially satisfactory. However, although the former grew faster and is more economically developed, Vietnam’s record in this area was markedly better than China’s. We show that this apparent paradox is due mainly to two reasons. One is related to the relative status of women, which is better in Vietnam than in China. The other stems from the fact that the perverse side-effects of market-oriented reforms (such as worsening income distribution and degradation of essential public services) have reached a more advanced and alarming stage in China than in Vietnam.
    Keywords: Child Mortality; China; Vietnam; Socialist Market; Cross Country analysis
    JEL: I12 P21 I38 O21
    Date: 2006–07

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