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International Capital Mobility and Financial Fragility - Part 1. Drivers of Systemic Banking Crises: The Role of Bank-Balance-Sheet Contagion and Financial Account Structure
Ahrend, Rudiger; Goujard, Antoine - Economics Department, Organisation de Coopération et … - 2012
newly-constructed measures of contagion shocks. These new measures capture well the contagion observed e.g. in the wake of … the Mexican and Asian crises, and confirm that contagion shocks observed in 2009/10 dwarfed those observed during previous … international financial integration are found to amplify contagion shocks and increase crisis risk, such as integration through …
Persistent link: https://www.econbiz.de/10009351419
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International Capital Mobility and Financial Fragility - Part 6. Are all Forms of Financial Integration Equally Risky in Times of Financial Turmoil?: Asset Price Contagion During t...
Ahrend, Rudiger; Goujard, Antoine - Economics Department, Organisation de Coopération et … - 2012
integration for asset price contagion in crisis times. Defining contagion as the transmission of financial market movements beyond … the co-movements that would occur in “tranquil” times, the paper looks into the presence of contagion in the period of … formes d'intégration financière sont-elles risquées en cas de chocs financiers? : La contagion des prix des actifs lors de la …
Persistent link: https://www.econbiz.de/10011276977
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Understanding the Recent Surge in the Accumulation of International Reserves
Vujanovic, Petar - Economics Department, Organisation de Coopération et … - 2011
This paper looks at the empirical determinates of foreign currency reserve holdings across a panel of around 130 countries between 1980 and 2008. The paper builds on the existing literature by adopting a panel error-correction model specification and by extending the sample to include the recent...
Persistent link: https://www.econbiz.de/10009024408
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International Capital Mobility and Financial Fragility - Part 3. How Do Structural Policies Affect Financial Crisis Risk?: Evidence from Past Crises Across OECD and Emerging Econom...
Ahrend, Rudiger; Goujard, Antoine - Economics Department, Organisation de Coopération et … - 2012
financial contagion, or by directly reducing the risk of financial crises. Differentiated capital controls are found to affect … market inflows, and openness to foreign bank entry are found to reduce the vulnerability to financial contagion. Finally … financière, soit en influant sur la structure du compte financier, soit en réduisant les risques de contagion financière …
Persistent link: https://www.econbiz.de/10011276796
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International Capital Mobility and Financial Fragility - Part 7. Enhancing Financial Stability: Country-Specific Evidence on Financial Account and Structural Policy Positions
Ahrend, Rudiger; Valdivia, Carla - Economics Department, Organisation de Coopération et … - 2012
This paper brings together the results from new empirical analysis on how – under international capital mobility – financial account structure and structural policies can contribute to financial stability. More specifically, the analysis has identified features of financial accounts and...
Persistent link: https://www.econbiz.de/10011276910
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Resolving and Avoiding Unsustainable Imbalances in the Euro Area
Barnes, Sebastian - Economics Department, Organisation de Coopération et … - 2010
Some euro area countries accumulated large and persistent external imbalances during the upswing, revealing important weaknesses in the macroeconomic management of the monetary union. Greece, Ireland, Portugal and Spain ran large current account deficits by historical standards, while Finland,...
Persistent link: https://www.econbiz.de/10008764883
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International Financial Integration and the External Positions of Euro Area Countries
Lane, Philip R. - Economics Department, Organisation de Coopération et … - 2010
This paper describes the dynamics of the external positions of euro area countries since the formation of EMU. While external imbalances have been the main focus in recent times, current account balances can only be properly interpreted in the context of understanding the overall international...
Persistent link: https://www.econbiz.de/10008765119
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Resolving and Avoiding Unsustainable Imbalances in the Euro Area
Barnes, Sebastian - 2010
Some euro area countries accumulated large and persistent external imbalances during the upswing, revealing important weaknesses in the macroeconomic management of the monetary union. Greece, Ireland, Portugal and Spain ran large current account deficits by historical standards, while Finland,...
Persistent link: https://www.econbiz.de/10012444092
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International Financial Integration and the External Positions of Euro Area Countries
Lane, Philip R. - 2010
This paper describes the dynamics of the external positions of euro area countries since the formation of EMU. While external imbalances have been the main focus in recent times, current account balances can only be properly interpreted in the context of understanding the overall international...
Persistent link: https://www.econbiz.de/10012446715
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Turkey's Improving Integration with the Global Capital Market: Impacts on Risk Premia and Capital Costs
Gönenç, Rauf; Sahinöz, Saygin; Tuncel, Ozge - Economics Department, Organisation de Coopération et … - 2010
Turkey has considerably improved its terms of access to the global capital market. Progress in macroeconomic fundamentals has enhanced credibility and reduced risk premia and capital costs. This has had broad effects on capital supply conditions in the entire economy. Real interest rates have...
Persistent link: https://www.econbiz.de/10008692918