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consistent with, the forces of international financial integration. Stepping up productivity is the key to sustaining growth …
Persistent link: https://www.econbiz.de/10011242796
This paper constructs a financial conditions index for Poland to explore the link between financial conditions and real economic activity. The index in constructed by applying two complementary approaches—factor analysis and vector auto-regression approach. We evaluate the index’s...
Persistent link: https://www.econbiz.de/10011142092
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This paper questions the view that leverage should have forewarned us of the global financial crisis of 2007-09, pointing to several gearing indicators that were neither useful portents of the onset of the crisis nor of its ferocity. Instead it shows, first, that the use of ill-suited collateral...
Persistent link: https://www.econbiz.de/10010790365
Financial regulation is often framed as a question of economic efficiency. This paper, by contrast, puts the distributive implications of financial regulation center stage. We develop a model in which the financial sector benefits from risk-taking by earning greater expected returns. However,...
Persistent link: https://www.econbiz.de/10010790433
Persistent link: https://www.econbiz.de/10010878426
The Asian financial crisis marked the beginning of worldwide efforts to improve the effectiveness of financial supervision. However, the crisis that started in 2007?08 was a crude awakening: several of these improvements seemed unable to avoid or mitigate the crisis. This paper brings the first...
Persistent link: https://www.econbiz.de/10009370541
A survey of the financial systems of Caribbean countries reveals systems dominated by banks, with services widely available. Jamaica is the only country to have experienced a financial crisis. The paper describes recent improvements in the regulatory framework, and examines factors, which affect...
Persistent link: https://www.econbiz.de/10005768880
To showcase their increasing focus on financial stability, many central banks and other institutions have started publishing regular reports on financial stability. The paper presents a survey of the available financial stability reports, and proposes a framework for assessing such documents. It...
Persistent link: https://www.econbiz.de/10005769115
This technical note on the Kingdom of the Netherlands—Netherlands reviews the Model of Financial Sector Supervision. The Netherlands authorities have invested considerable thought and effort in designing and implementing the new institutional framework, and we expect that it will make an...
Persistent link: https://www.econbiz.de/10005598948