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Exchange rate regimes, foreign exchange volatility and export performance in Central and Eastern Europe: Just another blur project?

Égert, Balázs; Morales-Zumaquero, Amalia - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2005

This paper attempts to analyze the direct impact of exchange rate volatility on the export performance of ten Central and Eastern European transition economies as well as its indirect impact via changes in exchange rate regimes. Not only aggregate but also bilateral and sectoral export flows are...

Persistent link: https://www.econbiz.de/10005190669

Bilaterial equilibrium exchange rates of EU accession countries against the euro

Rahn, Jörg - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2003

We apply BEER and PEER approaches to calculate real equilibrium exchange rates for five EU accession countries in central and east Europe. Bilateral nominal equilibrium exchange rates against the euro are obtained through algebraic transformation of the results. Panel cointegration techniques...

Persistent link: https://www.econbiz.de/10005648615

Exchange rate misalignments: A comparison of China today against recent historical experiences of Japan, Germany, Singapore and Taiwan

´He, Xinhua; Qin, Duo; Liu, Yimeng - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2011

The familiar claim of Chinese currency manipulation is generally asserted without reference to empirical evidence. To investigate the legitimacy of the claim, we ask if the undervalued misalignment found in the real effective exchange rate (REER) of the Chinese renminbi (RMB) over the past...

Persistent link: https://www.econbiz.de/10009251253

Economic growth across Chinese provinces: in search of innovation-driven gains

Funke, Michael; Yu, Hao - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2009

innovations explicitly into a production function and evaluate their contribution to economic growth in 1993 - 2006. The empirical … results highlight the importance and the interaction between local and external research. The evidence indicates that growth …

Persistent link: https://www.econbiz.de/10004969818

Is mining fuelling long-run growth in Russia? Industry productivity growth trends since 1995

Timmer, Marcel P.; Voskoboynikov, Ilya B. - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2013

GDP per capita growth rates in Russia have been among the highest in the world since the mid-1990s. Previous growth … accounting research suggests that this was mainly driven by multi-factor productivity (MFP) growth. In this paper we analyse for … the first time the drivers of Russian growth for thirty-four industries over the period 1995 to 2008. We pay in particular …

Persistent link: https://www.econbiz.de/10010818574

Is corruption an efficient grease?

Méon, Pierre-Guillaume; Weill, Laurent - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2008

This paper tests whether corruption may act as an efficient grease for the wheels of an oth-erwise deficient institutional framework. We analyze the interaction between aggregate efficiency, corruption, and other dimensions of governance for a panel of 54 developed and developing countries....

Persistent link: https://www.econbiz.de/10005648639

The Determinants of Vulnerability to the Global Financial Crisis 2008 to 2009: Credit Growth and Other Sources of Risk

Feldkircher, Martin - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2012

growth in shaping the real economy's response to the crisis. Specifically, a 1% increase in pre-crisis lending translates … into a 0.2% increase in the cumulative loss in real output. Moreover, the combination of pronounced growth in lending ahead … growth in real GDP in parallel with strong growth of credit particularly exacerbated the effects of the recent crisis on the …

Persistent link: https://www.econbiz.de/10010586132

The role of banks in monetary policy transmission: Empirical evidence from Russia

Juurikkala, Tuuli; Solanko, Laura; Karas, Alexei - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2009

This paper focuses on the role of the banking sector in monetary policy transmission in an emerging economy with a rapidly developing financial system. Specifically, we exam whether the central bank's monetary policy stance affects banks' lending behaviour. Based on a comprehensive quarterly...

Persistent link: https://www.econbiz.de/10004969115

How helpful are spatial effects in forecasting the growth of Chinese provinces?

Girardin, Eric; Kholodilin, Konstantin A. - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2010

In this paper, we make multi-step forecasts of the annual growth rates of the real Gross Regional Product (GRP) for … account for spatial dependence between the GRP growth rates. In addition, the possibility of spatial effects being different …

Persistent link: https://www.econbiz.de/10008483926

Integration of Chinese and Russian stock markets with world markets: National and sectoral perspectives

Babeckii, Ian; Komárek, Luboš; Komárková, Zlatuše - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2012

Interest in examining the financial linkages of economies has increased in the wake of the 2008/2009 global financial crisis. Applying the concepts of beta- and sigma-convergence of stock market returns, we assess changes over time in the degree of stock market integration between Russia and...

Persistent link: https://www.econbiz.de/10009649721