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Will they Sing the Same Tune? Measuring Convergence in the new European System of Financial Supervisors
Quintyn, Marc - 2009
In June 2009 a new financial supervisory framework for the European Union (EU) was endorsed, consisting of a macro- and a micro-prudential pillar. The latter is composed of a Steering Committee, a supranational layer and a network of national supervisory authorities at the bottom, de facto...
Persistent link: https://www.econbiz.de/10012677810
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Spillovers of the U.S. Subprime Financial Turmoil to Mainland China and Hong Kong SAR
Zhang, Xiaojing - 2009
This paper focuses on evidence from stock markets as it investigates the spillovers from the United States to mainland China and Hong Kong SAR during the subprime crisis. Using both univariate and multivariate GARCH models, this paper finds that China's stock market is not immune to the...
Persistent link: https://www.econbiz.de/10012677827
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Macroeconomic Implications for Hong Kong SAR of Accommodative U.S. Monetary Policy
N'Diaye, Papa M'B. P. - 2009
This paper discusses the potential macroeconomic implications for Hong Kong SAR of accommodative monetary policy in the United States. It shows, through model simulations, that a resumption of the credit channel in Hong Kong SAR has the potential to create inflation in both goods and asset...
Persistent link: https://www.econbiz.de/10012677503
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The Impact of Public Capital, Human Capital, and Knowledge on Aggregate Output
Joutz, Frederick L. - 2008
This paper investigates the impact of public capital on private sector output by testing and estimating an aggregate production function for the U.S. economy over the postwar period augmented to include the stock of public capital as an additional factor input. We use patent applications to...
Persistent link: https://www.econbiz.de/10012677663
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Creating Sustainable Fiscal Space for Infrastructure
Ter-Minassian, Teresa - 2008
maintaining infrastructure networks. Over the past decade, developed and developing countries have looked to fiscal rules … instruments to raise additional finance for infrastructure investment. This paper looks at the range of options for raising the … financing to meet Tanzania's infrastructure needs. It begins with a brief survey of the evidence on the relationship bet …
Persistent link: https://www.econbiz.de/10012677684
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Creating Sustainable Fiscal Space for Infrastructure : The Case of Tanzania
Ter-Minassian, Teresa - 2008
maintaining infrastructure networks. Over the past decade, developed and developing countries have looked to fiscal rules … instruments to raise additional finance for infrastructure investment. This paper looks at the range of options for raising the … financing to meet Tanzania's infrastructure needs. It begins with a brief survey of the evidence on the relationship between …
Persistent link: https://www.econbiz.de/10014409074
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Benchmarking Infrastructure Using Public Investment Efficiency Frontiers
Kapsoli, Javier - 2023
With limited financing options, increasing investment efficiency will be a critical avenue to building infrastructure … scores for a wide range of countries employing metrics of infrastructure quantity and utilization. We find that efficiency … inefficiencies could increase infrastructure output by 55 percent overall, when averaging across 12 estimation approaches …
Persistent link: https://www.econbiz.de/10015059445
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Creating Sustainable Fiscal Space for Infrastructure; The Case of Tanzania
Ter-Minassian, Teresa; Hughes, Richard; Hajdenberg, … - International Monetary Fund (IMF) - 2008
maintaining infrastructure networks. Over the past decade, developed and developing countries have looked to fiscal rules … instruments to raise additional finance for infrastructure investment. This paper looks at the range of options for raising the … financing to meet Tanzania's infrastructure needs. It begins with a brief survey of the evidence on the relationship between …
Persistent link: https://www.econbiz.de/10005769217
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Financing growth in the WAEMU through the regional securities market : past successes and current challenges
Diouf, Mame Astou; Boutin-Dufresne, François - 2012
The West African Economic and Monetary Union (WAEMU) regional securities market saw increasing activity in the last decade, but still fell short of supplying sufficient long-term financing for growth-enhancing public and private investment projects. In addition to providing an institutional...
Persistent link: https://www.econbiz.de/10009659805
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Too much finance?
Arcand, Jean-Louis L.; Berkes, Enrico; Panizza, Ugo - 2012
This paper examines whether there is a threshold above which financial development no longer has a positive effect on economic growth. We use different empirical approaches to show that there can indeed be ""too much"" finance. In particular, our results suggest that finance starts having a...
Persistent link: https://www.econbiz.de/10009618521