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Are Banks Too Big to Fail or Too Big to Save? International Evidence from Equity Prices and CDS Spreads

Demirgüç-Kunt, Asli - 2011

. For an international sample of banks, this paper investigates the impact of government indebtedness and deficits on bank … stock prices and CDS spreads. Overall, bank stock prices reflect a negative capitalization of government debt and they … valuation in countries running large fiscal deficits. Furthermore, the change in bank CDS spreads in 2008 relative to 2007 …

Persistent link: https://www.econbiz.de/10013133399

Determinants of Banking System Fragility : A Regional Perspective

Elahi, M.A. - 2012

Banking systems are fragile not only within one country but also within and across regions. We study the role of regional banking system characteristics for regional banking system fragility. We find that regional banking system fragility reduces when banks in the region jointly hold more liquid...

Persistent link: https://www.econbiz.de/10013110699

The Degree of Financial Liberalization and Aggregated Stock-Return Volatility in Emerging Markets

Umutlu, Mehmet - 2013

In this study, we address whether the degree of financial liberalization affects the aggregated total volatility of stock returns by considering the time-varying nature of financial liberalization. We also explore channels through which the degree of financial liberalization impacts aggregated...

Persistent link: https://www.econbiz.de/10013095651

Government Funding Privileges in European Financial Law – Making Public Debt Everybody's Favourite?

van Riet, Ad - 2016

Since the global financial crisis of 2008 European authorities have set out to strengthen financial governance in order to create a more stable and resilient financial system. As discussed in this paper, the new and updated EU legislation addressed at a wide array of financial markets and...

Persistent link: https://www.econbiz.de/10012978280

Macro-Prudential Assessment of Colombian Financial Institutions’ Systemic Importance

León, Carlos - 2014

Three metrics are designed to assess Colombian financial institutions' size, connectedness and non-substitutability as the main drivers of systemic importance: (i) centrality as net borrower in the money market network; (ii) centrality as payments originator in the large-value payment system...

Persistent link: https://www.econbiz.de/10013052071

Legal Institutions and Economic Development

Beck, Thorsten - 2010

Legal institutions are critical for the development of market-based economies. This paper defines legal institutions and discusses different indicators to measure their quality and efficiency. It surveys a large historical and empirical literature showing the importance of legal institutions in...

Persistent link: https://www.econbiz.de/10014044762

Informality and Access to Finance : Evidence from India

Beck, Thorsten - 2014

This paper gauges the effect of financial deepening and bank outreach on informality using micro data from the Indian … productivity of formal firms. We find that bank outreach has a stronger effect on reducing the incidence of informality by cutting …

Persistent link: https://www.econbiz.de/10013047992

The Puzzle of Muslim Advantage in Child Survival in India

Bhalotra, Sonia R.; Valente, Christine; van Soest, Arthur - 2009

The socio-economic status of Indian Muslims is, on average, considerably lower than that of upper caste Hindus. Muslims have higher fertility and shorter birth spacing and are a minority group that, it has been argued, have poorer access to public goods. They nevertheless exhibit substantially...

Persistent link: https://www.econbiz.de/10014210417

Bank Reputation in the Private Debt Market

McCahery, Joseph A. - 2011

We examine the impact of lead arrangers' reputation on the design of loan contracts such as spread and fees charged. Controlling for the non-randomness of the lender-borrower match (self-selection bias), we find that the reputation of top tier arrangers leads to higher spreads, and that top tier...

Persistent link: https://www.econbiz.de/10013130241

Bank Ownership and Credit Over the Business Cycle : Is Lending by State Banks Less Procyclical?

Bertay, Ata Can - 2012

This paper finds that lending by state banks is less procyclical than lending by private banks, especially in countries with good governance. Lending by state banks in high income countries is even countercyclical. On the liability side, state banks expand potentially unstable non-deposit...

Persistent link: https://www.econbiz.de/10013104799