Coat beef with flour, shaking off excess. In a large nonstick pot, heat oil over medium-high heat. Add beef; saute until browned, about 6 minutes. Place on a plate.

Add onions to pot; saute for 6 minutes. Add garlic; saute, stirring for 1 minute. Pour off fat. Return beef to pot; stir in tomato paste, then broth. Add enough water to just cover; bring to boil. Reduce heat to low; simmer until beef is tender, about 1 1/4 hours. Skim off any foam.

Add carrots, potatoes and green beans. Cover partially; simmer for 15 minutes.

In a small bowl, mix cornstarch and cold water; stir into stew. Increase heat and boil uncovered for 1 minute. Sprinkle with parsley and serve.