Narrow search
Showing 1 - 10 of 145
Cover Image
FDI and credit constraints: firm level evidence from China
Poncet, Sandra; Héricourt, Jérôme - HAL - 2009
In this paper, we assess the success of the ongoing financial system reforms in China by investigating the extent to … Chinese corporate sector, and analyze whether incoming foreign investment in China plays an important role in alleviating … domestic firms' credit constraints. Using firm-level data on 1300 domestic companies over the period 2000-2002, we confirm that …
Persistent link: https://www.econbiz.de/10011025983
Cover Image
Crisis, Capital Controls and Covered Interest Parity: Evidence from China in Transformation
Chen, Jinzhao - HAL - 2012
This paper aims to investigate the intensity and the effectiveness of the capital controls in China from 2003 to 2010 …
Persistent link: https://www.econbiz.de/10010738729
Cover Image
Multivariate Dynamic Probit Models: An Application to Financial Crises Mutation
Dumitrescu, Elena-Ivona; Candelon, Bertrand; Hurlin, … - HAL - 2012
In this paper we propose a multivariate dynamic probit model. Our model can be considered as a non-linear VAR model for the latent variables associated with correlated binary time-series data. To estimate it, we implement an exact maximum-likelihood approach, hence providing a solution to the...
Persistent link: https://www.econbiz.de/10009322915
Cover Image
When does financial sector (in)stability induce financial reforms?
Lee, Susie; Schumacher, Ingmar - HAL - 2011
The article studies whether financial sector (in)stability had an effect on reforms in the financial sector in a large cross-country panel from 1990 to 2005. We forward the theory that countries are more likely to liberalize their financial sectors in times of financial stability. We argue that...
Persistent link: https://www.econbiz.de/10009368015
Cover Image
Financial integration and financial development in transition economies : what happens during financial crises ?
Brezigar-Masten, Arjana; Coricelli, Fabrizio; Masten, Igor - HAL - 2010
domestic supply of credit. Consequently, the high reliance on international capital flows by transition countries does not …
Persistent link: https://www.econbiz.de/10010549087
Cover Image
Leverage Bubbles
Triki, Fares - HAL - 2009
This paper investigates the relation between liquidity and asset prices. It shows that, when banks balance sheets are marked to market and banks are targeting a financial leverage level - a situation similar to current environment - formation of Leverage Bubble phenomenon and suggests a new...
Persistent link: https://www.econbiz.de/10010738549
Cover Image
Bubbles and self-fulfilling crises
Challe, Edouard; Ragot, Xavier - HAL - 2007
Financial crises are often associated with an endogenous credit reversal followed by a fall in asset prices and serious …", Economic Journal, 2000), and where the supply of credit to these investors is endogenous. We show that the interplay between … the risk shifting problem and the endogeneity of credit may give rise multiple equilibria associated with different levels …
Persistent link: https://www.econbiz.de/10010739007
Cover Image
Ambiguity and Coordination in a Global. Game Model of Financial Crises
Laskar, Daniel - HAL - 2012
We consider a two-player global game where creditors, who finance some investment project, have to decide whether to roll over their loans or not. We use a non-Bayesian approach where creditors exhibit some aversion to ambiguity. We show that an increase in ambiguity reduces the perceived...
Persistent link: https://www.econbiz.de/10010739015
Cover Image
Foreign banks, corporate strategy and financial stability: lessons from the river plate
Brei, Michael; Winograd, Carlos - HAL - 2012
This paper analyzes the risk taking of branches and subsidiaries of international bank holding institutions from the perspective of host country regulators in two Latin American financial systems: Argentina and Uruguay. Using both theory and empirics, we analyze differences in the risk attitudes...
Persistent link: https://www.econbiz.de/10010739026
Cover Image
Ambiguity, Pessimism, Optimism and Financial Crises in a Simple Global Game Model
Laskar, Daniel - HAL - 2013
We use a non-Bayesian approach to uncertainty which allows for both optimism and pessimism in a simple global game, where each signal can exhibit a bias which is ambiguous. We underline a symmetry between two models of financial crises: a liquidity crisis model, and a currency crisis model. We...
Persistent link: https://www.econbiz.de/10010739136