Similar Search Results

Effectiveness of Capital Controls in India: Evidence from the Offshore NDF Market

Hutchison, Michael; Pasricha, Gurnain Kaur; Singh, Nirvikar - Bank of Canada - 2011

This paper examines the effectiveness of international capital controls in India over time by analyzing daily return … begin with a detailed narrative on the evolution of capital controls in India and calculate deviations from covered interest … several distinct periods reflecting changes in capital control application and intensity for India, and estimate the model …

Persistent link: https://www.econbiz.de/10009368873

The Impact of Sovereign Wealth Funds on International Financial Stability

Gomes, Tamara - Bank of Canada - 2008

Over the recent period, many emerging-market economies and commodity-exporting nations have experienced unprecedented growth and accumulated substantial amounts of foreign exchange reserves. The management of these foreign reserves has led to the emergence of important financial actors:...

Persistent link: https://www.econbiz.de/10005162381

Motivations for Capital Controls and Their Effectiveness

Pandey, Radhika; Pasricha, Gurnain; Patnaik, Ila; Shah, Ajay - Bank of Canada - 2015

We assess the motivations for changing capital controls and their effectiveness in India, a country with extensive and … macroprudential concerns. We construct a fine-grained data set on capital control actions on foreign borrowing in India. Using event …

Persistent link: https://www.econbiz.de/10011152373

Database of Sovereign Defaults, 2015 (Revised May 2015)

Beers, David; Nadeau, Jean-Sébastien - Bank of Canada - 2014

Until recently, there have been few efforts to systematically measure and aggregate the nominal value of the different types of sovereign government debt in default. To help fill this gap, the Bank of Canada’s Credit Rating Assessment Group (CRAG) has developed a comprehensive database of...

Persistent link: https://www.econbiz.de/10011265712

The Safety of Government Debt

Anand, Kartik; Gai, Prasanna - Bank of Canada - 2013

We examine the safety of government bonds in the presence of Knightian uncertainty amongst financial market participants. In our model, the information insensitivity of government bonds is driven by strategic complementarities across counterparties and the structure of trading relationships. We...

Persistent link: https://www.econbiz.de/10010697292

Determinants of Financial Stress and Recovery during the Great Recession

Aizenman, Joshua; Pasricha, Gurnain Kaur - Bank of Canada - 2011

In this paper, we explore the link between stress in the domestic financial sector and the capital flight faced by countries in the 2008-9 global crisis. Both the timing of emergence of internal financial stress in developing economies, and the size of the peak-trough declines in the stock price...

Persistent link: https://www.econbiz.de/10009359840

International Capital Flows and Bond Risk Premia

Sierra, Jesus - Bank of Canada - 2010

This paper studies the impact of international capital flows on asset prices through risk premia. We investigate whether foreign purchases of U.S. Treasury securities significantly contributed to the decline in excess returns on long-term bonds between 1995 and 2008. We run forecasting...

Persistent link: https://www.econbiz.de/10008527619

Shift Contagion in Asset Markets

Gravelle, Toni; Kichian, Maral; Morley, James - Bank of Canada - 2003

The authors develop a new methodology to investigate how crises cause the relationship between financial variables to change. Two possible sources of increased co-movement between markets during high-variance episodes are considered: larger common shocks operating through standard market...

Persistent link: https://www.econbiz.de/10005536895

Financial Sector Returns and Creditor Moral Hazard: Evidence from Indonesia, Korea, and Thailand

Tong, Jian; Xu, Chenggang - William Davidson Institute, University of Michigan - 2004

This paper introduces a framework of investor behavior in which investors form their expectations regarding the credibility of a prospective IMF program in reforming the financial sector characterized by domestic implicit guarantees. We examine the changes in financial sector returns in response...

Persistent link: https://www.econbiz.de/10005651501

Bank Competition and International Financial Integration: Evidence Using a New Index

Pasricha, Gurnain Kaur - Bank of Canada - 2010

This paper finds a strong empirical link between domestic banking sector competitiveness and de facto international integration. De-facto international integration is measured through a new index of financial integration, which measures, for deviations from covered interest parity, the size of...

Persistent link: https://www.econbiz.de/10008764540

1
2
3
4
5
6
7
8
9
10
Next
Last