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The International Monetary System in Flux: Overview and Prospects

BAÇÃO, Pedro; DUARTE, António Portugal; SIMÕES, Mariana - In: Financial Aspects of Recent Trends in the Global Economy

integration process that led to the creation of the euro. We then discuss the role played by the euro in the IMS as an … reserves of the euro, the US dollar and the renminbi. In the discussion, we take into account the current sovereign debt crisis …

Persistent link: https://www.econbiz.de/10010674569

Forced Changes in Banks Financing Growth in East European Countries

SAVIC, Nebojsa; PITIC, Goran; BARJAKTAROVIC, Lidija - In: Financial Aspects of Recent Trends in the Global Economy

The effects of the Great Recession so far had numerous negative consequences reflected primarily in strong recession and rising unemployment. They have varied from country to country and from region to region. The sample of the analyzed countries includes: the group of eight Central and East...

Persistent link: https://www.econbiz.de/10010674573

Monetary Union and the Role of the Monetary Policy from the Point of View of Selected Theoretical Approaches

KOTULIC, Rastislav; HECKOVÁ, Jaroslava; CHAPCÁKOVÁ, … - In: Financial Aspects of Recent Trends in the Global Economy

The effective international monetary system is an important precondition to a successful fulfillment of international economic transactions. The existing development of international monetary systems indicates the need of one strong currency, at most a small number of national currencies to...

Persistent link: https://www.econbiz.de/10010674559

The Crisis of Euro's Governance: Institutional Aspects and Policy Issues

SCHILIRÒ, Daniele - In: Financial Aspects of Recent Trends in the Global Economy

the euro which has shown the weaknesses of the European institutions and stressed the heterogeneity of member countries …. The global financial crisis struck the euro area very severely because it coincided with the lack of appropriate policy … euro. In the following section it describes the euro crisis and examines the remedies put in place, noting that despite the …

Persistent link: https://www.econbiz.de/10010674566

Should Sub-Saharian Africa Oil Exporter Countries Borrow More in U.S Dollar or Euro to Stabalize Their Balance of Payments? An Empirical Investigation

SISSOKO, Yaya; KONÉ, Soloman - In: Financial Aspects of Recent Trends in the Global Economy

This chapter investigates the vulnerability of oil exporter countries in Sub-Saharan Africa (SSA) to commodity price, exchange rate, and interest rate uncertainty. Although there are considerable differences among Sub-Saharan Africa nations, they do share a number of common characteristics:...

Persistent link: https://www.econbiz.de/10010674558

Financial Markets Prudetial Regulation as a Dynamic Self-Corrective Process

MLÁDEK, Josef - In: Financial Aspects of Recent Trends in the Global Economy

The recent financial crisis has reminded us (again) that the so-called great moderation of macro-financial cycle was merely a mirage. It is therefore now more than ever appropriate to study the issues of economic and financial cycle and their interconnections. In this vein of research,...

Persistent link: https://www.econbiz.de/10010674563

2000s:Painful and Turbulent Decade of Debt. How Did We End up in This Mess?

CHAIECHI, Taha - In: Financial Aspects of Recent Trends in the Global Economy

Around the globe observations demonstrate that the countries with expected near- future- inflation, unsustainable ballooning government spending and expected recession head towards a financial crisis unless significant policy transformations take place convincingly and before late. And whilst...

Persistent link: https://www.econbiz.de/10010674568

Global and Regional Regulatory Changes to the Financial Industry as a Consequence of the Financial Crisis: the Case of the European Union

SANTILLÁN-SALGADO, Roberto J. - In: Financial Aspects of Recent Trends in the Global Economy

Since the first signs of the financial crisis appeared during 2007, several national governments announced initiatives to implement extensive bailout measures and recovery plans backed up with tax-payers money. The official language was very similar in all countries; extraordinary measures were...

Persistent link: https://www.econbiz.de/10010674570

Mark to Market Accounting as a Magnifier of Financial Crises

STANISIC, Nemanja Milovan; POPOVCIC-AVRIC, Snezana Drago; … - In: Financial Aspects of Recent Trends in the Global Economy

The main objective of this chapter is to provide an analysis on whether mark-to-market accounting magnifies financial crises. Even though the results of numerous studies on this topic offer various conclusions, the majority of them conclude that fair value accounting, or mark-to-market...

Persistent link: https://www.econbiz.de/10010898033

Globalization and Financial Market Contagion: Evidence from Financial Crisis and Natural Disasters

ASONGU, Simplice Anutechia - In: Financial Aspects of Recent Trends in the Global Economy

With financial globalization, investors can gain from diversification if returns from financial markets are stable and not correlated. However with volatility spillovers, increase in cross-market correlations exist as a real-effect and are not taken into account for asset allocation and...

Persistent link: https://www.econbiz.de/10010898038