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Financial Development : A Broader Perspective
Reid, Richard - East Asian Bureau of Economic Research (EABER) - 2010
This paper seeks to add to the current debate about financial development and growth in the emerging world by looking at how different financial systems evolve : how and why financial structures change during various stages of development, how best to measure them, and seeing what practical...
Persistent link: https://www.econbiz.de/10011278013
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Financial Development : A Broader Perspective
Reid, Richard - East Asian Bureau of Economic Research (EABER) - 2010
This paper seeks to add to the current debate about financial development and growth in the emerging world by looking at how different financial systems evolve : how and why financial structures change during various stages of development, how best to measure them, and seeing what practical...
Persistent link: https://www.econbiz.de/10011278109
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Financial Development : A Broader Perspective
Reid, Richard - East Asian Bureau of Economic Research (EABER) - 2010
This paper seeks to add to the current debate about financial development and growth in the emerging world by looking at how different financial systems evolve : how and why financial structures change during various stages of development, how best to measure them, and seeing what practical...
Persistent link: https://www.econbiz.de/10011278218
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Financial Development : A Broader Perspective
Reid, Richard - East Asian Bureau of Economic Research (EABER) - 2010
This paper seeks to add to the current debate about financial development and growth in the emerging world by looking at how different financial systems evolve : how and why financial structures change during various stages of development, how best to measure them, and seeing what practical...
Persistent link: https://www.econbiz.de/10009363820
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International Reserves and Swap Lines in Times of Financial Distress : Overview and Interpretations
Aizenman, Joshua - East Asian Bureau of Economic Research (EABER) - 2010
In this paper I review the use of precautionary measures aimed at mitigating emerging markets exposure to fragility associated with financial integration. The discussion draws possible lessons from the ongoing global liquidity crisis. The fear of losing international reserves (IR) constrained...
Persistent link: https://www.econbiz.de/10009363868
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Spillover Effects among the Greater China Region Stock Markets
Johansson, Anders C; Ljungwall, Christer - East Asian Bureau of Economic Research (EABER) - 2006
This paper explores the linkages between the different stock markets in the Greater China region. Cointegration tests …. The empirical findings indicate spillover effects in both mean and variance between the markets. Both China and Hong Kong … their volatility processes. The later markets also show clear signs of asymmetric volatility effects, while China's market …
Persistent link: https://www.econbiz.de/10009365377
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Cross-Border Trading as a Mechanism for Capital Flight: ADRs and the Argentine Crisis
Auguste, Sebastian; Dominguez, Kathryn M.E.; Kamil, Herman - William Davidson Institute, University of Michigan - 2002
This paper examines the surprising performance of the Argentine stock market in the midst of the country’s most recent financial crisis and the role played by ADRs in Argentine capital flight. Although Argentine investors were subject to capital controls, they were able to purchase stocks with...
Persistent link: https://www.econbiz.de/10005784778
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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
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How Would an Appreciation of the Yuan Affect the People’s Republic of China’s Surplus in Processing Trade?
Thorbecke, Willem - East Asian Bureau of Economic Research (EABER) - 2010
Enormous trade surpluses are problematic for the Peoples Republic of China (PRC) and the rest of the world. They …
Persistent link: https://www.econbiz.de/10009364000
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Instability in Exchange Rates of the World Leading Currencies: Implications of a Spatial Competition Model among Central Banks
Engelmann, Dirk; Hanousek, Jan; Kocenda, Evžen - William Davidson Institute, University of Michigan - 2004
We use a spatial competition based model in a two-stage game setup to assess whether equilibrium in exchange rates among the leading currencies is attainable. We show that a stable equilibrium can be reached in the case of two leading currencies, but not in the case of three. In our model,...
Persistent link: https://www.econbiz.de/10005677454