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The Development of Local Debt Markets in Asia
Goswami, Mangal; Sharma, Sunil - International Monetary Fund (IMF) - 2011
development has been limited by hurdles confronting borrowers and lenders, current and potential liquidity providers, and …
Persistent link: https://www.econbiz.de/10009151210
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Liquidity and Transparency in Bank Risk Management
Ratnovski, Lev - International Monetary Fund (IMF) - 2013
accumulate a buffer of liquid assets, or strengthen transparency to communicate solvency. While a liquidity buffer provides … bank may choose insufficient liquidity buffers and transparency. The regulatory response is constained: while liquidity … buffers can be imposed, transparency is not verifiable. Moreover, liquidity requirements can compromise banks' transparency …
Persistent link: https://www.econbiz.de/10010790317
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Externalities and Macroprudential Policy
Nicoló, Gianni De; Favara, Giovanni; Ratnovski, Lev - International Monetary Fund (IMF) - 2012
This note overviews macroprudential policy options that have been proposed to address the systemic risks experienced during the recent financial crisis. It contributes to the policy debate by providing a taxonomy of macroprudential policies in terms of the specific negative externalities in the...
Persistent link: https://www.econbiz.de/10011142226
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Shadow Banking; Economics and Policy
Claessens, Stijn; Ratnovski, Lev; Singh, Manmohan - International Monetary Fund (IMF) - 2012
This note outlines the basic economics of the shadow banking system, highlights (systemic) risks related to it, and suggests implications for measurement and regulatory approaches.
Persistent link: https://www.econbiz.de/10011245881
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Global Liquidity and Drivers of Cross-Border Bank Flows
Cerutti, Eugenio; Claessens, Stijn; Ratnovski, Lev - International Monetary Fund (IMF) - 2014
This paper provides a definition of global liquidity consistent with its meaning as the “ease of financing†in … also the cyclical impact of global liquidity, with sensitivities of flows to banks decreasing with stronger macroeconomic …
Persistent link: https://www.econbiz.de/10011142075
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Bailouts and Systemic Insurance
Dell'Ariccia, Giovanni; Ratnovski, Lev - International Monetary Fund (IMF) - 2013
We revisit the link between bailouts and bank risk taking. The expectation of government support to failing banks creates moral hazard—increases bank risk taking. However, when a bank’s success depends on both its effort and the overall stability of the banking system, a government’s...
Persistent link: https://www.econbiz.de/10010790390
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An Analysis of Money Demand and Inflation in the Islamic Republic of Iran
Goswami, Mangal; Celasun, Oya - International Monetary Fund (IMF) - 2002
This study examines money demand and inflation dynamics in the Islamic Republic of Iran using quarterly data for the period 1990/91-2001/02 and tests whether the disinflation during 2000/01-2001/02 represents a structural break in the data. A long-run money market equilibrium condition is...
Persistent link: https://www.econbiz.de/10005825599
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Asean Bond Market Development; Where Does it Stand? Where is it Going?
Pradhan, Mahmood; Peiris, Shanaka J.; Goswami, Mangal; … - International Monetary Fund (IMF) - 2011
Since the Asian crisis, ASEAN5 countries have expended considerable effort in trying to develop their domestic bond markets. Yet today these markets are not much larger, relative to GDP, than they were a decade before. How can we explain this? And does this mean that domestic markets have not,...
Persistent link: https://www.econbiz.de/10009151213
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Addressing Information Gaps
Mulder, Christian B.; Imus, Phil De; Psalida, L. Effie; … - International Monetary Fund (IMF) - 2009
Persistent link: https://www.econbiz.de/10011142216
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Why Are Canadian Banks More Resilient?
Huang, Rocco; Ratnovski, Lev - International Monetary Fund (IMF) - 2009
This paper explores factors behind Canadian banks' relative resilience in the ongoing credit turmoil. We identify two main causes: a higher share of depository funding (vs. wholesale funding) in liabilities, and a number of regulatory and structural factors in the Canadian market that reduced...
Persistent link: https://www.econbiz.de/10008528633