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Rating the Rating Agencies : Anticipating Currency Crises or Debt Crises?

Sy, Amadou - 2021

In contrast to the early-warning system literature, we find that currency and debt crises are not closely linked in emerging markets. We find that after 1994, credit ratings predict debt crises but fail to anticipate currency crises. When debt crises are defined as sovereign distress-when...

Persistent link: https://www.econbiz.de/10013212322

The Short-Term Impact of Product Market Reforms : A Cross-Country Firm-Level Analysis

Gal, Peter N. - 2016

This paper analyzes the effects of product market reforms in the short and medium term across 10 regulated industries and 18 advanced economies for the period 1998-2013 using internationally comparable firm-level data based on Orbis. It provides four key insights. First, product market reforms...

Persistent link: https://www.econbiz.de/10012977841

How Do Regulations of Entry and Credit Access Relate to Industry Competition? International Evidence

Igan, Deniz - 2018

We examine the extent to which regulations of entry and credit access are related to competition using data on 28 … competition, as proxied by the price-cost margin, in the industries with a naturally high entry rate. Rigid entry regulations are … exerting a positive effect on competition. These results suggest that incumbent firms are likely to enjoy the rent and market …

Persistent link: https://www.econbiz.de/10012918554

What Caused the Global Financial Crisis? Evidence on the Drivers of Financial Imbalances 1999-2007

Nier, Erlend W. - 2011

This paper investigates empirically the drivers of financial imbalances ahead of the global financial crisis. Three factors may have contributed to the build-up of financial imbalances: (i) rising global imbalances (capital flows), (ii) monetary policy that might have been too loose, (iii)...

Persistent link: https://www.econbiz.de/10013131803

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

Tracking Global Demand for Advanced Economy Sovereign Debt

Arslanalp, Serkan - 2012

Recent events have shown that sovereigns, just like banks, can be subject to runs, highlighting the importance of the investor base for their liabilities. This paper proposes a methodology for compiling internationally comparable estimates of investor holdings of sovereign debt. Based on this...

Persistent link: https://www.econbiz.de/10013096716

Riding Global Financial Waves : The Economic Impact of Global Financial Shocks on Emerging Market Economies

Adler, Gustavo - 2012

integration with the rest of the world, arguably turning these economies more vulnerable to global financial shocks; and an …

Persistent link: https://www.econbiz.de/10013098620

Systemic Banking Crises Database : An Update

Laeven, Luc - 2012

We update the widely used banking crises database by Laeven and Valencia (2008, 2010) with new information on recent and ongoing crises, including updated information on policy responses and outcomes (i.e. fiscal costs, output losses, and increases in public debt). We also update our dating of...

Persistent link: https://www.econbiz.de/10013098639

Crises, Labor Market Policy, and Unemployment

Bernal-Verdugo, Lorenzo E. - 2012

Using a sample of 97 countries spanning the period 1980?2008, we estimate that financial crises have a large negative impact on unemployment in the short term, but that this effect rapidly disappears in the medium term in countries with flexible labor market institutions, whereas the impact of...

Persistent link: https://www.econbiz.de/10013108620

The Global Financial Crisis : An Anatomy of Global Growth

Matheson, Troy - 2013

The global financial crisis was a stark reminder of the importance of cross-country linkages in the global economy. We document growth synchronization across a diverse group of 185 countries covering 7 regions, and pay particular attention to the period around the global financial crisis. A...

Persistent link: https://www.econbiz.de/10013082486

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