Using a new dataset on capital market regulation, we analyze whether capital controls helped protect emerging markets from the real economic consequences of the 2009 financial and economic crisis. The impact of the crisis is measured by the 2009 forecast error of a panel state space model, which...

The aim of this paper is to determine banking deregulation level as a function of the variations of the internal and external fundamentals of the economy. Variations of these variables constitute an indicator of the internal and external vulnerability of the Tunisian economy. At a particular...

Sovereign CDS spreads have become major variables focused on risks and expectations about the fiscal situation of different countries. In the paper we investigate, first, whether there is a link in the new member states between the expectations about the condition of their public finances and...

This paper analyses the impact of monetary and fiscal policies' interaction on the financial stability of the eurozone. Based on the construction of a financial stability index for the entire euro area, we assess the impact in terms of the stability of different configurations of policy-mix...

This paper studies bank distress in MENA countries and investigates whether mergers are commonly considered as a solution for resolving individual bank distress. Both specific bank levels and macro variables are deployed to predict banking distress. In line with other recent papers, we challenge...

We assess the sustainability of the public finances of Greece, Ireland, Italy, Portugal and Spain (GIIPS), allowing for possible non-linearities in the form of threshold behaviour of the fiscal authorities. We provide some evidence of fiscal sustainability when debt gets “too highâ€...

In this study, we propose the use of Heterogeneous Autoregressive (HAR) type realized volatility models in combination with the Extreme Value Theory (EVT) method for Value-at-Risk (VaR) forecasting. The proposed model accounts for the long memory property of the realized volatility and the fat...

Following the US financial crisis of 2006-2007, the global economy suffered from negative spillover effects of it since fall 2008. In this study, the effects of global financial crsis on Turkish economy (2008-2010) and the macroeconomic performance of the Turkish government (before and) during...

This paper examines the association between corporate social responsibility and firm financial performance for the period from 2008 to 2011. Corporate social responsibility is of crucial importance for the evaluation of firms financial because corporate social responsibility is the action...

The aim of the paper is to understand how the financial crisis has affected the interest rate pass-through (PT) in the Eurozone between market rates and bank interest rates. We have applied a SUR-ECM model. This methodology allows testing for the homogeneity of the PT of the euro area countries....