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Macroprudential Policy; What Instruments and How to Use them? Lessons From Country Experiences
International Monetary Fund (IMF); International … - 2011
This paper provides the most comprehensive empirical study of the effectiveness of macroprudential instruments to date. Using data from 49 countries, the paper evaluates the effectiveness of macroprudential instruments in reducing systemic risk over time and across institutions and markets. The...
Persistent link: https://www.econbiz.de/10009369434
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Rapid Credit Growth; Boon or Boom-Bust?
Elekdag, Selim; Wu, Yiqun - International Monetary Fund (IMF) - 2011
interest rates (a proxy for global liquidity) are virtually flat during these periods. Therefore, although external factors … such as global liquidity conditions matter, and possibly increasingly so over time, domestic factors (especially monetary …
Persistent link: https://www.econbiz.de/10009369437
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How to Stop a Herd of Running Bears? Market Response to Policy Initiatives During the Global Financial Crisis
International Monetary Fund (IMF); International … - 2009
United Kingdom, the euro area, and Japan during the recent crisis on interbank credit and liquidity risk premia …. Announcements of interest rate cuts, liquidity support, liability guarantees, and recapitalization were associated with a reduction …
Persistent link: https://www.econbiz.de/10008559268
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What Drives China's Interbank Market?
International Monetary Fund (IMF); International … - 2009
Interest rates in China comprise a mix of both market determined interest rates (interbank rates and bond yields), and regulated interest rates (lending and deposit rates), reflecting China's gradual process of interest rate liberalization. We argue, using a theoretical model and empirical...
Persistent link: https://www.econbiz.de/10008528670
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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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Capital Regulation, Liquidity Requirements and Taxation in a Dynamic Model of Banking
Nicoló, Gianni De; Gamba, Andrea; Lucchetta, Marcella - International Monetary Fund (IMF) - 2012
liquidity risk. We find an inverted U-shaped relationship between capital requirements and bank lending, efficiency, and welfare …, with their benefits turning into costs beyond a certain requirement threshold. By contrast, liquidity requirements reduce … lending, efficiency and welfare significantly. The costs of high capital and liquidity requirements represent a lower bound on …
Persistent link: https://www.econbiz.de/10011142059
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The Effects of U.S. Unconventional Monetary Policy on Asia Frontier Developing Economies
Rafiq, Sohrab - International Monetary Fund (IMF) - 2015
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
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Mexico; Financial Sector Assessment Program Update: Technical Note: Financing of the Private Sector
International Monetary Fund (IMF); International … - 2007
This technical note on financing of the private sector for Mexico describes the evolution, composition, and determinants of financing to the nonfinancial private sector in Mexico between 2000 and 2005. Equity issuance has not played an important role in financing the private sector in Mexico...
Persistent link: https://www.econbiz.de/10011244184
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India; 2008 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for India
International Monetary Fund (IMF); International … - 2009
India’s financial system compares favorably internationally, but rising credit risk and liquidity pressures are … liquidity requirement together with stepped-up open market operations have been fully warranted. …
Persistent link: https://www.econbiz.de/10011244299
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Central African Republic; Fourth Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility and Request for Waiver of Nonobservance of Performance Crit...
International Monetary Fund (IMF); International … - 2009
This paper discusses key findings of the Fourth Review for the Central African Republic (CAR) under the three-year arrangement under the Poverty Reduction and Growth Facility (PRGF). Short-term fiscal policy of the CAR attempts to stabilize demand through government spending while preserving...
Persistent link: https://www.econbiz.de/10011244356