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South Africa : the financial sector-sovereign nexus
Hesse, Heiko; Miyajima, Ken - 2022
Globally, financial institutions have increased their holdings of domestic sovereign debt, tightening the linkage between the health of the financial system and the level of sovereign debt, or the "financial sector-sovereign nexus," during the ongoing COVID-19 pandemic. In South Africa, the...
Persistent link: https://www.econbiz.de/10013170007
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Euro Area Sovereign Risk During the Crisis
Zoli, Edda - 2009
While the use of public resources is critical to cushion the impact of the financial crisis on the euro-area economy … perspective, to what extent do movements in euro area sovereign spreads reflect country-specific solvency concerns? In line with … previous studies, the paper suggests that euro area sovereign risk premium differentials tend to comove over time and are …
Persistent link: https://www.econbiz.de/10014402235
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Financial crises : explanations, types, and implications
Claessens, Stijn; Kose, M. Ayhan - 2013
This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper...
Persistent link: https://www.econbiz.de/10012671036
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Investor information and bank instability during the European debt crisis
Iorgova, Silvia; Ross, Chase P. - 2021
Persistent link: https://www.econbiz.de/10012487211
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The Late 1990's Financial Crisis in Ecuador : Institutional Weaknesses, Fiscal Rigidities, and Financial Dollarization At Work
Jácome, Luis Ignacio - 2004
This paper stresses three factors that amplified the 1990s financial crisis in Ecuador, namely institutional weaknesses, rigidities in public finances, and high financial dollarization. Institutional factors restricted the government''s ability to respond in a timely manner and efficiently...
Persistent link: https://www.econbiz.de/10014404127
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Financial development, exchange rate fluctuations, and debt dollarization : a firm-level evidence
Kim, Minsuk - 2019
This paper examines how financial development influences the debt dollarization of nonfinancial firms in a sample of emerging market economies (EMEs). The macroeconomic channels are identified from an optimal portfolio allocation model and assessed empirically using the accounting information of...
Persistent link: https://www.econbiz.de/10012102196
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Financial crisis, US unconventional monetary policy and international spillovers
Chen, Qianying; Filardo, Andrew J.; He, Dong; Zhu, Feng - 2015
Persistent link: https://www.econbiz.de/10011281170
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Financial Crisis, US Unconventional Monetary Policy and International Spillovers
Chen, Qianying - 2015
We study the impact of the US quantitative easing (QE) on both the emerging and advanced economies, estimating a global vector error-correction model (GVECM) and conducting counterfactual analyses. We focus on the effects of reductions in the US term and corporate spreads. First, US QE measures...
Persistent link: https://www.econbiz.de/10014412116
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Financial Development, Financial Fragility, and Growth
Loayza, Norman - 2005
This paper studies the apparent contradictions between two strands of the literature on the effects of financial intermediation on economic activity. On the one hand, the empirical growth literature finds a positive effect of financial depth as measured by, for instance, private domestic credit...
Persistent link: https://www.econbiz.de/10014404211
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German bond yields and debt supply : is there a "bund premium"?
Paret, Anne-Charlotte; Weber, Anke - 2019
Are Bunds special? This paper estimates the 'Bund premium' as the difference in convenience yields between other sovereign safe assets and German government bonds adjusted for sovereign credit risk, liquidity and swap market frictions. A higher premium suggests less substitutability of sovereign...
Persistent link: https://www.econbiz.de/10012154614