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Distributional effects of crises : the role of financial transfers

Halac, Marina; Schmukler, Sergio - Economics Research, World Bank Group - 2003

Financial crises affect income distribution by way of different channels. The authors argue that financial transfers are an important channel which has been overlooked by the literature. They study the role of financial transfers by analyzing some of the most severe Latin American crises during...

Persistent link: https://www.econbiz.de/10005079564

Stock market development and long-run growth

Levine, Ross; Zervos, Sara - Economics Research, World Bank Group - 1996

The authors empirically evaluate the relationship between stock market development and long-term growth. The data suggest that stock market development is positively associated with economic growth. Moreover, instrumental variables procedures indicate a strong connection between the...

Persistent link: https://www.econbiz.de/10005079849

Crisis and contagion in East Asia : nine lessons

Kawai, Masahiro; Newfarmer, Richard; Schmukler, Sergio - Economics Research, World Bank Group - 2001

The authors investigate the origins of the East Asian crisis and its contagion, examine the channels of contagion, and discuss policy recommendationsThey make detailed recommendations in the context of nine general lessons learned from the East Asian crisis. 1) Preventing crises and contagion:...

Persistent link: https://www.econbiz.de/10005079883

Predicting currency fluctuations and crises - do resident firms have an informational advantage?

Kaufmann, Daniel; Mehrez, Gil; Schmukler, Sergio - Economics Research, World Bank Group - 1999

The authors investigate whether resident enterprise managers have an informational advantage about the countries in which they work. They propose a method for extracting information available to resident managers but unknown to investors and forecasters. They rest their hypothesis of...

Persistent link: https://www.econbiz.de/10005080040

Stock markets, banks, and growth : correlation or causality?

Beck, Thorsten; Levine, Ross - Economics Research, World Bank Group - 2001

The authors investigate the impact of stock markets and banks on economic growth using a panel data set for 1976-98 and applying recent generalized method of moments (GMM) techniques developed for dynamic panels. The authors illustrate econometrically the differences that emerge from different...

Persistent link: https://www.econbiz.de/10005080114

Managers, investors, and crises : mutual fund strategies in emerging markets

Kaminsky, Graciela; Lyons, Richard; Schmukler, Sergio - Economics Research, World Bank Group - 2000

The authors address the trading strategies of mutual funds in emerging markets. The data set they develop permits analyses of these strategies at the level of individual portfolios. A methodologically novel feature of their analysis: they disentangle the behavior of fund managers from that of...

Persistent link: https://www.econbiz.de/10005128513

Old debts and new beginnings : a policy choice in transitional socialist economies

Levine, Ross; Scott, David - Economics Research, World Bank Group - 1992

The authors examine the decisions policy-makers in transitional socialist economies must make: how to define the asset liability structure of state owned enterprises and banks as they are privatized. They conclude that the many loans issued by state-owned enterprises under socialism are impeding...

Persistent link: https://www.econbiz.de/10005128542

Banking systems around the globe : do regulation and ownership affect the performance and stability?

Barth, James R.; Caprio, Gerard; Levine, Ross - Economics Research, World Bank Group - 2000

The authors report cross-country data on commercial bank regulation and ownership in more than 60 countries. They … mixing of banking and commerce be restricted by regulating commercial bank's ownership of non-financial firms and non …, insurance, and real estate transactions and how well-developed the banking sector, how well-developed securities markets and non-bank …

Persistent link: https://www.econbiz.de/10005128656

Emerging markets instability: do sovereign ratings affect country risk and stock returns?

Kaminsky, Graciela; Schmukler, Sergio - Economics Research, World Bank Group - 2001

Financial market instability has been the focus of attention of both academic and policy circles. Rating agencies have been under particular scrutiny lately as promoters of financial excesses, upgrading countries in good times and downgrading them in bad times. Using a panel of emerging...

Persistent link: https://www.econbiz.de/10005128745

Bank regulation and supervision : what works best?

Barth, James R.; Caprio Jr., Gerard; Levine, Ross - Economics Research, World Bank Group - 2001

The authors draw on their new database on bank regulation and supervision in 107 countries to assess different … governmental approaches to bank regulation and supervision and evaluate the efficacy of different regulatory and supervisory … bank activities and the mixing of banking and commerce. Regulations on entry by domestic and foreign banks. Regulations on …

Persistent link: https://www.econbiz.de/10005129116