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Three decades of international financial crises : what have we learned and what still needs to be done?
Buckley, Ross P.; Avgouleas, Emilios; Arner, Douglas W. - Asian Development Bank - 2020
Fragility that periodically erupts into a full-blown financial crisis appears to be an integral feature of market-based financial systems in spite of the emergence of sophisticated risk management tools and regulatory systems. If anything, the increased frequency of modern crises underscores how...
Persistent link: https://www.econbiz.de/10012232895
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Sovereign risk, elections, and contagion
Li, Chi; Balding, Christopher; Lee, Minsoo - 2013
This paper aims to quantify the political risk effect and its different economic implications in normal and crisis situations through the proxy analysis of election and the sovereign bond spreads. Our study leads to three main findings. First, in normal economic situations, elections and...
Persistent link: https://www.econbiz.de/10009781196
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Changing vulnerability in Asia : contagion and systemic risk
Dungey, Mardi H.; Kangogo, Moses; Volkov, V. V. - 2019
This paper investigates the changing network of financial markets between Asian markets and those of the rest of the world during January 2003−December 2017 to capture both the direction and strength of the links between them. Because each market chooses whether to connect with emerging...
Persistent link: https://www.econbiz.de/10012020460
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The financial systems of financially less developed Asian economies : key features and reform priorities
Batten, Aaron; Doung, Poullang; Enkhbold, Enerelt; … - 2015
Developing Asia's financial depth as a whole compares favorably with other parts of the developing world, but there are …
Persistent link: https://www.econbiz.de/10011346234
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The influence of US dollar funding conditions on Asian financial markets
Lee, Junkyu; Rosenkranz, Peter; Ramayandi, Arief; Pham, … - 2021
More than 20 years after the Asian financial crisis, the region's continued high reliance on United States (US) dollar-denominated funding has significant implications for the transmission of global financial conditions to domestic financial and macroeconomic circumstances. Given limited...
Persistent link: https://www.econbiz.de/10012485240
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Firm investment, liquidity, and bank health : a panel study of Asian firms in the 2000s
Ogawa, Kazuo - 2013
The purpose of this study is to investigate how firms responded to the deterioration of bank health during the financially turbulent periods in the 2000s in making investment decisions and in meeting demand for liquidity. A rise in uncertainty regarding the ability to obtain external funds may...
Persistent link: https://www.econbiz.de/10009734202
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Financial shocks and exchange market pressure
Patnaik, Ila; Pundit, Madhavi - 2019
The taper tantrum episode induced a sudden outflow of capital from emerging markets back to the United States. This paper analyzes exchange market pressure in 93 developing and emerging market economies during this episode, drawing on recent methodological improvements in measuring exchange...
Persistent link: https://www.econbiz.de/10012020466
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Financial development and economic growth in developing Asia
Estrada, Gemma; Park, Donghyun; Ramayandi, Arief - 2010
Persistent link: https://www.econbiz.de/10008826336
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Asian financial system : development and challenges
Park, Cyn-Young - 2011
implications for Asia which, despite being the new engine of growth to the world economy, continues to be challenged by the … persistent gap between developments in its financial and real sectors. This paper examines how Asia's financial and economic …, and shallow regional financial markets. The situation compromises Asia's ability to respond to the financial needs of its …
Persistent link: https://www.econbiz.de/10009486249
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The recent convergence of financial development in Asia
Dekle, Robert; Pundit, Madhavi - 2015
We construct an index of financial development for 23 Asian economies based on subindices of access, depth, and efficiency of financial institutions and markets and find evidence that economies with weaker financial systems are catching up to the Asian benchmark economies, namely Hong Kong,...
Persistent link: https://www.econbiz.de/10011305280