Narrow search
Showing 1 - 10 of 89
Cover Image
The 1980s financial liberalization in the Nordic countries
Honkapohja, Seppo - Suomen Pankki - 2012
The financial liberalization in the four Nordic countries (Denmark, Finland, Norway, and Sweden) that took place mostly in the 1980s led to a major financial crisis in three of those countries. The crises in Finland, Norway, and Sweden are among the deepest financial crises in advanced market...
Persistent link: https://www.econbiz.de/10010818988
Cover Image
Further evidence on the link between finance and growth: An international analysis of community banking and economic performance
Berger, Allen N.; Hasan, Iftekhar; Klapper, Leora F. - Suomen Pankki - 2004
We seek to contribute to both the finance-growth literature and the community banking literature by testing the effects of the relative health of community banks on economic growth and investigating potential transmission mechanisms for these effects using data from 1993–2000 on 49 nations....
Persistent link: https://www.econbiz.de/10005649013
Cover Image
Liquidity and market efficiency : alive and well?
Liikanen, Erkki; Jylhä, Petri; Pennacchi, George G.; … - Joint Conference with the Bank of Finland in Helsinki …; … - 2015
On 3 July 2015, SUERF organized its sixth joint conference with the Bank of Finland in Helsinki on the subject of liquidity and market efficiency. The one-day program consisted of an opening speech, six presentations, including three keynotes, and a lunchtime address. The present SUERF Study...
Persistent link: https://www.econbiz.de/10011414459
Cover Image
The Effects of Competition on Banks’ Risk Taking with and without Deposit Insurance
Niinimäki, Juha-Pekka - Suomen Pankki - 2000
We consider the joint effect of competition and deposit insurance on risk taking by banks when the riskiness of banks is unobservable to depositors. It turns out that the magnitude of risk taking depends on the type of bank competition. If the bank is a monopoly or banks compete only in the loan...
Persistent link: https://www.econbiz.de/10005648946
Cover Image
Moral hazard in the credit market when the collateral value is stochastic
Niinimäki, Juha-Pekka - Suomen Pankki - 2010
This theoretical paper explores the effects of costly and non-costly collateral on moral hazard, when collateral value … may fluctuate. Given that all collateral is costly, stochastic collateral will entail the same positive incentive effects … as nonstochastic collateral, provided the variation in collateral value is modest. If it is large, the incentive effects …
Persistent link: https://www.econbiz.de/10008800750
Cover Image
Screening in the credit market when the collateral value is stochastic
Niinimäki, Juha-Pekka - Suomen Pankki - 2009
This theoretical paper explores screening with loan collateral when both the collateral value and the probability of …-risk borrowers may in such case be more willing to pledge collateral than low-risk borrowers. Abundant collateral then would not … signal low risk. The results may help explain the mixed empirical findings on the role of collateral. The paper also extends …
Persistent link: https://www.econbiz.de/10005014554
Cover Image
The euro and corporate financing
Bris, Arturo; Koskinen, Yrjö; Nilsson, Mattias - Suomen Pankki - 2011
In this paper we study how the introduction of the euro has affected corporate financing in Europe. We use firm-level data from eleven euro area countries as well as from a control group of five other European countries spanning the years 1991–2006. We show that firms from euro area countries...
Persistent link: https://www.econbiz.de/10008867448
Cover Image
The euro crisis: a view from the North
Honkapohja, Seppo - Suomen Pankki - 2013
The paper provides an overview of the sovereign debt crisis. I first consider the build-up of the crisis.I then discuss policy choices when a financial crisis erupts and assess the adjustment processes in the crisis countries, including alternatives to policies of austerity. Finally I take up...
Persistent link: https://www.econbiz.de/10010945117
Cover Image
Economies of scale and technological development in securities depository and settlement systems
Schmiedel, Heiko; Malkamäki, Markku; Tarkka, Juha - Suomen Pankki - 2002
The paper investigates the existence and extent of economies of scale in depository and settlement systems. Evidence from 16 settlement institutions across different regions for the years 1993–2000 indicates the existence of significant economies of scale. The degree of such economies,...
Persistent link: https://www.econbiz.de/10005771143
Cover Image
Effects of fiscal policy on the durability of low inflation regimes
Pohjola, Tapio - Suomen Pankki - 2002
This paper deals with the interaction of fiscal and monetary policy when the central bank is pursuing a price stability-oriented monetary policy. In particular, we study the durability of the price stability regime when public debt accumulates as a result of ultimately unsustainable deficits....
Persistent link: https://www.econbiz.de/10005423694