This paper studies implications of intermediation costs in credit markets. The presence of intermediation costs increases the amount of risky projects therefore results in financial fragility. Moreover, for an open economy that has a perfectly liberal capital account, prudent firms finance their...

We discuss issues of real estate price bubble, the extent of wealth effects, affordability, financial deepening and credit market risks. Our simulations indicate that given current wealth levels, cost of credit and maturity, average homes are not affordable by average consumers. The market...

This IFC report summarises the results of a survey conducted on sustainable finance statistics among its members (with 63 answers, providing detailed information for 28 AEs and 31 EMEs). The objective was to identify related data needs, availability and gaps from the perspective of the central...

This paper uses unique bank-by-bank balance sheet and income statement information to investigate the intermediation efficiency in the Nigerian pre-consolidated banking sector during 2000-05. The author analyzes whether the Central Bank of Nigeria's policy of recent banking consolidation can be...

Using a unique bank-level data set on the Ugandan banking system during 1999-2005, the authors explore the factors behind consistently high interest rate spreads and margins. While foreign banks charge lower interest rate spreads, they do not find a robust and economically significant...

The paper studies monetary policy and the monetary transmission mechanism in Thailand in light of the Asian crisis in 1997. Existing studies that adopt structural vector auto-regression (VAR) approaches do not give a clear and agreed-upon view how monetary shocks are transmitted to the Thai...