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New lessons, challenges, and debates have emerged from the subprime crisis in the United States. While the macroeconomic orientation is not new and has always been among the classic toolkits of central banks for ensuring financial stability, the current explicit articulation and specification of...
Persistent link: https://www.econbiz.de/10009651640
New lessons, challenges, and debates have emerged from the subprime crisis in the United States. While the macroeconomic orientation is not new and has always been among the classic toolkits of central banks for ensuring financial stability, the current explicit articulation and specification of...
Persistent link: https://www.econbiz.de/10009651651
We analyze the role of debt in corporate governance with respect to a large emerging economy, India, where debt has … been an important source of external finance. First, we examine the extent to which debt acts as a disciplining device in …-affiliated and non-affiliated companies to see if the governance role of debt is sensitive to ownership and control structures …
Persistent link: https://www.econbiz.de/10009365427
of monetary and financial regionalism, broadly defined as the development of regional liquidity arrangements and regional …
Persistent link: https://www.econbiz.de/10009363825
cost and liquidity, and a positive relationship between transaction cost and volatility. Therefore, if the government … imposes CTT, it would lead to higher volatility and lower trading activity affecting market efficiency and liquidity …
Persistent link: https://www.econbiz.de/10009365429
The industrial transformation of Asia is a development on a scale unprecedented in human history. Following the industrial revolution towards the end of the eighteenth century, Europe and North America each in turn came to dominate the world economy and global power. Now economic weight is...
Persistent link: https://www.econbiz.de/10011277990
The recent financial crisis has shown that financial innovation can have devastating systemic impacts. International standard setters’ and national regulators’ response has been a global concerted effort to overhaul and tighten financial regulations....
Persistent link: https://www.econbiz.de/10011278058
The recent financial crisis has shown that financial innovation can have devastating systemic impacts. International standard setters’ and national regulators’ response has been a global concerted effort to overhaul and tighten financial regulations....
Persistent link: https://www.econbiz.de/10011278157
This paper analyzes the causes of the 2008–2009 financial crisis together with its manifestations, using a Multiple Indicator Multiple Cause (MIMIC) model. The analysis is conducted on a cross-section of 85 economies; I focus on international financial linkages that may have both...
Persistent link: https://www.econbiz.de/10009651638
This paper analyzes the causes of the 2008–2009 financial crisis together with its manifestations, using a Multiple Indicator Multiple Cause (MIMIC) model. The analysis is conducted on a cross-section of 85 economies; I focus on international financial linkages that may have both...
Persistent link: https://www.econbiz.de/10009651649