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Diversification power of real estate market securities : the role of financial crisis and dividend policy

Ilbasmis, Metin; Gronwald, Marc; Zhao, Yuan - 2018

the dividend policy of REITs plays an important role on the dynamics of the correlation. Dividend payments by Turkish … REITs decrease their conditional correlation with the Turkish stock market while no such relationship is detected in the U ….S. We argue that both the relationship between dividend payments by REITs and REIT correlation with the stock index is …

Persistent link: https://www.econbiz.de/10011845163

Regulation, financial crises, and liberalization traps

Marchionne, Francesco; Pisicoli, Beniamino; Fratianni, … - 2019

regulation on the probability of a crisis. We test this relationship by applying a Probit model of a non-linear specification to …: it rises as regulation stringency moves from low to medium levels and falls from medium to high levels. Countries located …

Persistent link: https://www.econbiz.de/10012030889

The political economy of the G20 Agenda on financial regulation

Schuknecht, Ludger; Siegerink, Vincent - 2020

The paper empirically examines the implementation record of international financial regulation of the banking sector … record is particularly strong in countries where large banking sectors and big banks are both present, and where regulation …

Persistent link: https://www.econbiz.de/10012263373

Climate actions and stranded assets : the role of financial regulation and monetary policy

Diluiso, Francesca; Annicchiarico, Barbara; Kalkuhl, … - 2020

materialize. Financial regulation encouraging the decarbonization of the banks' balance sheets via tax-subsidy schemes …

Persistent link: https://www.econbiz.de/10012260638

Spillovers from systemic bank defaults

Mink, Mark; Haan, Jakob de - 2014

We examine to what extent banks' stock market values during the 2007-2012 financial crisis were driven by increases in the default risk of banks designated as globally systemically important by the Financial Stability Board. We find that bank market values hardly respond to changes in the...

Persistent link: https://www.econbiz.de/10010354063

Finance and income inequality : a review and new evidence

Haan, Jakob de; Sturm, Jan-Egbert - 2016

Using a panel fixed effects model for a sample of 121 countries covering 1975-2005, we examine how financial development, financial liberalization and banking crises are related to income inequality. In contrast with most previous work, our results suggest that all finance variables increase...

Persistent link: https://www.econbiz.de/10011536253

What do we know about the global financial safety net? : a new comprehensive data set

Scheubel, Beatrice; Stracca, Livio - 2016

This paper critically reviews the theoretical basis for the provision of the global financial safety net (GFSN) and provide a comprehensive database covering four elements of the GFSN (foreign exchange reserves, IMF financing, central bank swap lines and regional financing arrangements) for over...

Persistent link: https://www.econbiz.de/10011565481

Boom-bust cycles in middle income countries : facts and explanation

Tornell, Aaron; Westermann, Frank - 2002

In this paper we characterize empirically the comovements of macro variables typically observed in middle income countries, as well as the boom-bust cycle that has been observed during the last two decades. We find that many countries that have liberalized their financial markets, have witnessed...

Persistent link: https://www.econbiz.de/10011410453

Global and regional financial integration in emerging Asia : evidence from stock markets

Caporale, Guglielmo Maria; Gil-Alaña, Luis A.; You, Kefei - 2017

This paper employs a price-based measure of integration, namely stock return differentials between ten emerging Asian economies and the US (as an indicator of global integration), as well as Japan and the Asian region (as two alternative indicators of regional integration), to test for mean...

Persistent link: https://www.econbiz.de/10011654611

Systemic crisis and growth revisited : has the global financial crisis marked a new era?

Steinkamp, Sven; Westermann, Frank - 2018

Occasional crises have been shown to be part of growth enhancing mechanism (see Rancière, Tornell and Westermann, 2008). In this paper, we document that neither the stereotypical case study of India vs. Thailand, nor the benchmark growth-regression in this earlier research support this result...

Persistent link: https://www.econbiz.de/10011863602

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