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Offshore Currency Markets : Non-Deliverable Forwards (NDFs) in Asia
Schmittmann, Jochen; Teng, Chua Han - 2021
Non-deliverable forward (NDF) markets in many Asian emerging market currencies are large, rapidly growing, and often exceed onshore markets in transaction volume. NDFs tend to price significant depreciation during market stress episodes including COVID-19. Spillovers from NDFs to onshore markets...
Persistent link: https://www.econbiz.de/10013315112
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IMF Programs and Financial Flows to Offshore Centers
Aiyar, Shekhar S.; Patnam, Manasa - 2022
This paper examines whether IMF lending is associated with increases in outflows to offshore financial centers (OFCs), known for bank secrecy and asset protection, relative to other international destinations. Using quarterly data from the BIS on bilateral bank deposits, we are unable to detect...
Persistent link: https://www.econbiz.de/10013300841
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Government Wage Bill Management and Civil Service Reform in the Eastern Caribbean Currency Union
Mitchell, Wayne - 2019
In this study, we assess the size of the government wage bill and employment in the member countries of the Eastern Caribbean Currency Union and their implications for fiscal sustainability and the adequacy of public service delivery. Over the period 2005 to 2015 their wage bill (as a percentage...
Persistent link: https://www.econbiz.de/10012868468
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Gender Diversity in Senior Positions and Firm Performance : Evidence from Europe
Christiansen, Lone - 2016
This paper examines the link between gender diversity in senior corporate positions and financial performance of 2 million companies in Europe. We document a positive association between corporate return on assets and the share of women in senior positions and establish two potential channels...
Persistent link: https://www.econbiz.de/10012995278
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Production Offshoring and Investment by Japanese Firms
Kang, Joong Shik - 2015
operating mainly in domestic markets. On the back of a trend increase in production offshoring, investment by large companies …
Persistent link: https://www.econbiz.de/10013015601
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Technological Changes, Offshoring, and the Labor Share
Lian, Weicheng - 2019
Existing studies on the downward trend in the labor share of income mostly focus on changeswithin individual countries. I document, however, that half of the global decline in the laborshare of income can be traced to the relocation of activities between countries. I develop atwo-country model...
Persistent link: https://www.econbiz.de/10012864118
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Fear of Service Outsourcing : Is it Justified?
Amiti, Mary - 2011
The recent media and political attention on service outsourcing from developed to developing countries gives the … impression that outsourcing is exploding. As a result, workers in industrial countries are anxious about job losses. This paper … aims to establish what are the hypes and what are the facts. The results show that although service outsourcing has been …
Persistent link: https://www.econbiz.de/10012757114
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The Sizable Role of Rehypothecation in the Shadow Banking System
Singh, Manmohan - 2010
This paper examines the sizable role of rehypothecation in the shadow banking system. Rehypothecation is the practice that allows collateral posted by, say, a hedge fund to its prime broker to be used again as collateral by that prime broker for its own funding. In the United Kingdom, such use...
Persistent link: https://www.econbiz.de/10013138535
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Foreign Banks : Trends, Impact and Financial Stability
Claessens, Stijn - 2012
This paper introduces a comprehensive database on bank ownership for 137 countries over 1995-2009, and reviews foreign bank behavior and impact. It documents substantial increases in foreign bank presence, with many more home and host countries. Current market shares of foreign banks average 20...
Persistent link: https://www.econbiz.de/10013116464
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Banking and Trading
Ratnovski, Lev - 2012
We study the effects of a bank's engagement in trading. Traditional banking is relationship-based: not scalable, long-term oriented, with high implicit capital, and low risk (thanks to the law of large numbers). Trading is transactions-based: scalable, shortterm, capital constrained, and with...
Persistent link: https://www.econbiz.de/10013098572