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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

Brazil's efficient payment system : a legacy of high inflation

Listfield, Robert; Montes-Negret, Fernando - Economics Research, World Bank Group - 1996

Brazil's efficient, highly automated payment system developed over many years in response to hyperinflationary conditions. The authors describe the system, its payment instruments, and its links to other networks and the government's payment and collections operations. They examine factors that...

Persistent link: https://www.econbiz.de/10005079603

Payment systems in Latin America : a tale of two countries - Colombia and El Salvador

Listfield, Robert; Montes-Negret, Fernando - Economics Research, World Bank Group - 1995

stock exchange transactions through several banks, rather than one bank. The countries differ in important ways: 1) it will … and the settlement of payments at the central bank: 1) draft new laws and regulations; 2) provide more systematic data …

Persistent link: https://www.econbiz.de/10005079716

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

Deposit insurance and banking reform in Russia

Camara, Modibo K.; Montes-Negret, Fernando - Economics Research, World Bank Group - 2006

The objective of this paper is not to review the pros and cons of deposit insurance systems, but to focus, rather narrowly, on the recent adoption of a deposit insurance system (DIS) in Russia, the rationale offered, and the potential impact it might have on the stability and development of the...

Persistent link: https://www.econbiz.de/10005129400

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

Modernizing payment systems in emerging economies

Listfield, Robert; Montes-Negret, Fernando - Economics Research, World Bank Group - 1994

is the World Bank approach to selected payment system initiatives, design, and development? Effective, efficient payment … the World Bank and other international agencies for assistance. Unfortunately, some believe that the entire solution for … an effective payment system rests in obtaining modern computer hardware and believe the World Bank's sole contribution is …

Persistent link: https://www.econbiz.de/10005134218