Showing 1 - 10 of 193
The global financial crisis highlighted that the financial system can be most vulnerable when it seems most stable. This paper models non-linear dynamics in banking. Small shocks can lead from an equilibrium with few bank defaults straight to a full freeze. The mechanism is based on...
Persistent link: https://www.econbiz.de/10010800971
This paper tests the role of different banks' liquidity funding structures in explaining the banks' failures, which … recognizes that the new liquidity framework proposed by the Basel Committee on Banking Supervision appears to have the features … to strenghten banks' liquidity conditions and improve financial stability. Its correct implementation together with …
Persistent link: https://www.econbiz.de/10009203531
This paper explores the effect of U.S. unconventional monetary policy (QE2) on a group of frontier developing economies (FDEs) in Asia. This paper finds that spillovers emanating from the U.S. on FDEs in Asia have been small. The relative insulation of emerging Asia from the global financial...
Persistent link: https://www.econbiz.de/10011163125
South Africa has made substantial progress in addressing the recommendations of the Financial Sector Assessment Program and is continuing to build upon these accomplishments. The Financial Services Board and Department of Trade and Industry both are organizations with the legal authority to...
Persistent link: https://www.econbiz.de/10011245358
This paper surveys the foreign exchange markets, money and secondary government security markets, and stock exchanges in 107 smaller economy countries. The underdevelopment of these markets impedes risk transfer, monetary policy, corporate financing, and the capacity to absorb capital inflows....
Persistent link: https://www.econbiz.de/10011245902
, at a later stage, integration, if carried out at the right pace and in a pragmatic way, could improve the liquidity …
Persistent link: https://www.econbiz.de/10005263689
This paper examines how the macroeconomic effects of capital controls vary depending on which type of international financial transaction they cover. Drawing on Malaysia's experiences in regulating the capital account during the 1990s, it finds, in an error-correction model, that capital...
Persistent link: https://www.econbiz.de/10005263719
We analyze the capital controls imposed in Malaysia in September 1998. In macroeconomic terms, these controls neither yielded major benefits nor were costly. At the same time, the stock market interpreted the capital controls (and associated events) as favoring firms with stronger political...
Persistent link: https://www.econbiz.de/10005263746
Persistent link: https://www.econbiz.de/10005767357
This paper evaluates the Observance of Standards and Codes on the International Organization of Securities Commission (IOSCO) Objectives and Principles of Securities Regulation for New Zealand. New Zealand equity markets are comparatively small with market capitalization of about 44 percent of...
Persistent link: https://www.econbiz.de/10005768600