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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

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

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

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

Does judicial efficiency lower the cost of credit:

Laeven, Luc; Majnoni, Giovanni - Economics Research, World Bank Group - 2003

countries. They measure bank interest rate spreads for 106 countries at an aggregate level, and for 32 countries at the level of …

Persistent link: https://www.econbiz.de/10005128766

Financial intermediary development and growth volatility : do intermediaries dampen or magnify shocks?

Beck, Thorstein; Lundberg, Mattias; Majnoni, Giovanni - Economics Research, World Bank Group - 2001

The authors extend the recent literature on the link between financial development and economic volatility by focusing on the channels through which the development of financial intermediaries affects economic volatility. Their theoretical model predicts that well-developed financial...

Persistent link: https://www.econbiz.de/10005128769

The dynamics of foreign bank ownership - evidence from Hungary

Majnoni, Giovanni; Shankar, Rashmi; Varhegyi, Eva - Economics Research, World Bank Group - 2003

The early start of the process of bank restructuring and privatization in Hungary provides a longer and richer amount … of evidence than that available for any other transition economy. The authors analyze the dynamics of bank restructuring …-strategic acquisition in contrast with investment in a newly established bank (greenfield investment)-or by the management style adopted …

Persistent link: https://www.econbiz.de/10005128853

Mutual fund investment in emerging markets - an overview

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

International mutual funds are one of the main channels for capital flows to emerging economies. Although mutual funds have become important contributors to financial market integration, little is known about their investment allocation, and strategies. The authors provide an overview of mutual...

Persistent link: https://www.econbiz.de/10005133623

How the proposd Basel Guidelines on rating-agency assessments would affect developing countries

Ferri, Giovanni; Liu, Li-Gang; Majnoni, Giovanni - Economics Research, World Bank Group - 2000

show that linking bank's capital asset requirements to external ratings would have undesirable effects for developing … strength in higher- and lower-income countries. Second, bank and corporate ratings in developing countries (unlike their … economic activity. Bank capital needs in developing countries would be more volatile than those in high-income countries. These …

Persistent link: https://www.econbiz.de/10005133692