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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

Contractual savings, stock, and asset markets

Impavido, Gregorio; Musalem, Alberto R. - Economics Research, World Bank Group - 2000

largely invested in tradable securities (equities and bonds). The authors presenta three-assets model (money, quasi money, and … correlated with the real interest rate, the real return on money (measured by the inverse of inflation), and stock market … and non-life insurance companies, and the real return on money. It is negatively correlated with the real interest rate …

Persistent link: https://www.econbiz.de/10005128459

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

Contractual savings, capital markets, and firms'financing choices

Musalem, Alberto R.; Impavido, Gregorio; Tressel, Thierry - Economics Research, World Bank Group - 2001

contractual savings leads to a decline in firms'leverage. In bank-based economies, instead, an increase in the size of contractual …

Persistent link: https://www.econbiz.de/10005128919

Contractual savings or stock market development - Which leads?

Catalan, Mario; Impavido, Gregorio; Musalem, Alberto R. - Economics Research, World Bank Group - 2000

The authors study the relationship between the development of contractual savings (assets of pension funds, and life insurance companies) and non-life insurance, and, the development of stock markets (market capitalization and value traded). Their contribution lies in providing time-series...

Persistent link: https://www.econbiz.de/10005129038

Contractual savings institutions and banks'stability and efficiency

Impavido, Gregorio; Musalem, Alberto R.; Tressel, Thierry - Economics Research, World Bank Group - 2001

impact on bank spreads and loan maturity. After controlling for banks'characteristics, macroeconomic factors, and more …

Persistent link: https://www.econbiz.de/10005129348

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