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Cooperative Banks and Financial Stability
Cihák, Martin - 2007
Cooperative banks are an important, and growing, part of many financial systems. This paper empirically analyzes the role of cooperative banks in financial stability. Contrary to some suggestions in the literature, we find that cooperative banks are more stable than commercial banks. This...
Persistent link: https://www.econbiz.de/10012677846
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An Anatomy of Credit Booms
Terrones, Marco - 2008
We study the characteristics of credit booms in emerging and industrial economies. Macro data show a systematic relationship between credit booms and economic expansions, rising asset prices, real appreciations and widening external deficits. Micro data show a strong association between credit...
Persistent link: https://www.econbiz.de/10012677365
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An Anatomy of Credit Booms : Evidence From Macro Aggregates and Micro Data
Terrones, Marco - 2008
We study the characteristics of credit booms in emerging and industrial economies. Macro data show a systematic relationship between credit booms and economic expansions, rising asset prices, real appreciations and widening external deficits. Micro data show a strong association between credit...
Persistent link: https://www.econbiz.de/10014409056
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Bond Markets As Conduits for Capital Flows; How Does Asia Compare?
Luengnaruemitchai, Pipat; Eichengreen, Barry J. - International Monetary Fund (IMF) - 2006
of financial integration or interrelatedness, asking how Asia compares with Europe and Latin America and with the base … more financially integrated than other regions. Asia, more interestingly, already seems to have made more progress on this … sample suggest that one factor holding back investment in foreign bonds in East Asia may be limited geographical …
Persistent link: https://www.econbiz.de/10005769016
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Financial Sector Surveillance and the IMF
Gola, Carlo; Spadafora, Francesco - International Monetary Fund (IMF) - 2009
The global financial crisis has magnified the role of Financial Sector Surveillance (FSS) in the Fund's activities. This paper surveys the various steps and initiatives through which the Fund has increasingly deepened its involvement in FSS. Overall, this process can be characterized by a...
Persistent link: https://www.econbiz.de/10008540920
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Determinants of Credit Growth and Interest Margins in the Philippines and Asia
Tan, Tatum Blaise Pua - International Monetary Fund (IMF) - 2012
Despite robust deposit growth, credit growth has been sluggish in the Philippines. We attribute this to legacy weaknesses in bank balance sheets, consumption-led economic growth, and relatively high net interest margins. Bank-level analysis suggests that interest margins in the Philippines rise...
Persistent link: https://www.econbiz.de/10010790364
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The Economic Crisis; Did Financial Supervision Matter?
Quintyn, Marc; Pansini, Rosaria Vega; Masciandaro, Donato - International Monetary Fund (IMF) - 2011
The Asian financial crisis marked the beginning of worldwide efforts to improve the effectiveness of financial supervision. However, the crisis that started in 2007?08 was a crude awakening: several of these improvements seemed unable to avoid or mitigate the crisis. This paper brings the first...
Persistent link: https://www.econbiz.de/10009370541
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Moral Hazard and International Crisis Lending: A Test
Dell'Ariccia, Giovanni; Zettelmeyer, Jeromin; Schnabel, … - International Monetary Fund (IMF) - 2002
We test for the existence of a moral hazard effect attributable to official crisis lending by analyzing the evolution of sovereign bond spreads in emerging markets before and after the Russian crisis. The nonbailout of Russia in August 1998 is interpreted as an event that decreased the perceived...
Persistent link: https://www.econbiz.de/10005263951
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Market Phoenixes and Banking Ducks Are Recoveries Faster in Market-Based Financial Systems?
Allard, Julien; Blavy, Rodolphe - International Monetary Fund (IMF) - 2011
Recoveries vary considerably across countries: our paper compares recoveries in bank-based and market-based economies and finds that market-based economies experience significantly and durably stronger rebounds than the bank-based ones (in particular the more bank-based economies of continental...
Persistent link: https://www.econbiz.de/10009293778
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Do Credit Shocks Matter? A Global Perspective
Helbling, Thomas; Kose, M. Ayhan; Otrok, Christopher; … - International Monetary Fund (IMF) - 2010
This paper examines the importance of credit market shocks in driving global business cycles over the period 1988:1-2009:4. We first estimate common components in various macroeconomic and financial variables of the G-7 countries. We then evaluate the role played by credit market shocks using a...
Persistent link: https://www.econbiz.de/10008727795