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Measuring financial asset return and volatility spillovers, with application to global equity markets
Diebold, Francis X.; Yilmaz, Kamil - Center for Financial Studies - 2007
We provide a simple and intuitive measure of interdependence of asset returns and/or volatilities. In particular, we formulate and examine precise and separate measures of return spillovers and volatility spillovers. Our framework facilitates study of both non-crisis and crisis episodes,...
Persistent link: https://www.econbiz.de/10010958768
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Project Finance at the World Bank: An Overview of Policies and Instruments.
Benoit, P. - World Bank Group - 1996
Private and public sector sponsors of infrastructure, industrial and other commercial projects in developing countries are looking increasingly to the project finance structure to fund these operations. The World Bank has an array of financial instruments to support these projects. This paper...
Persistent link: https://www.econbiz.de/10005780263
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World Bank Lending for Small Enterprises 1989-1993.
Webster, L.M.; Riopelle, R.; Chidzero, A.M. - World Bank Group - 1996
The main objective of this report is to evaluate World Bank lending for small enterprises between FY89 and FY93, including both small and medium enterprises and microenterprises. There has been a marked shift in the Bank's work in this area, and this review details the nature and content of this...
Persistent link: https://www.econbiz.de/10005639100
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Financial contagion: Spillovers through banking centers
Van Rijckeghem, Caroline; Weder, Beatrice - Center for Financial Studies - 1999
This paper presents evidence that spillovers through shifts in bank lending can help explain the pattern of contagion … incidence of a currency crisis. In the Russian crisis, the common bank lender helps to predict the incidence of contagion but … may be more important in explaining contagion than similarities in macro-economic fundamentals and even than trade …
Persistent link: https://www.econbiz.de/10010958810
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Did fair-value accounting contribute to the financial crisis?
Laux, Christian; Leuz, Christian - Center for Financial Studies - 2009
The recent financial crisis has led to a major debate about fair-value accounting. Many critics have argued that fair-value accounting, often also called mark-to-market accounting, has significantly contributed to the financial crisis or, at least, exacerbated its severity. In this paper, we...
Persistent link: https://www.econbiz.de/10010958489
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When an event is not an event: The curious case of an emerging market
Bhattacharya, Utpal; Daouk, Hazem; Jorgenson, Brian; … - Center for Financial Studies - 1998
Shares trading in the Bolsa mexicana de Valores do not seem to react to company news. Using a sample of Mexican corporate news announcements from the period July 1994 through June 1996, this paper finds that there is nothing unusual about returns, volatility of returns, volume of trade or...
Persistent link: https://www.econbiz.de/10010958597
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Globalization and innovation in emerging markets
Gorodnichenko, Yuriy - 2009
"Globalization brings opportunities and pressures for domestic firms in emerging markets to innovate and improve their competitive position. Using data on firms in 27 transition economies, the authors test for the effects of globalization through the impact of increased competition and foreign...
Persistent link: https://www.econbiz.de/10011394102
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Globalisation and monetary policy in emerging markets
2005
Persistent link: https://www.econbiz.de/10003000780