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The impacts of financial development, urbanization, and globalization on income inequality : a regression-based decomposition approach
Lee, Wai Choi; Cheong, Tsun Se; Wu, Yanrui - 2017
This paper aims to study the impacts of financial development, urbanization, and globalization on income inequality in the People's Republic of China. It applies the regression-based inequality decomposition approach on a panel dataset, which is aggregated from a unique database of financial...
Persistent link: https://www.econbiz.de/10011594242
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Financial development : a broader perspective
Reid, Richard - 2010
This paper seeks to add to the current debate about financial development and growth in the emerging world by looking at how different financial systems evolve: how and why financial structures change during various stages of development, how best to measure them, and seeing what practical...
Persistent link: https://www.econbiz.de/10008907303
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The development of local debt markets in Asia : an assessment
Goswarni, Mangal; Sharma, Sunil - 2011
The paper gives an assessment of the progress made in developing local debt markets in emerging Asia. Market development has been limited by hurdles confronting borrowers and lenders, current and potential liquidity providers, and insufficient support from government policies and regulations....
Persistent link: https://www.econbiz.de/10009379658
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Implications of platform finance on monetary policy transmission
Wong, Chin-Yoong; Eng, Yoke-Kee - 2019
The emergence of a decentralized peer-to-peer platform that matches lending and borrowing without collateral requirements has called the bank lending and balance-sheet channels for monetary transmission into question. Via a standard New Keynesian macroeconomic model expanded with two-sided...
Persistent link: https://www.econbiz.de/10012024484
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Sovereign stress, banking stress, and the monetary transmission mechanism in the Euro area
Holtemöller, Oliver; Scherer, Jan-Christopher - 2018
In this paper, we investigate to what extent sovereign stress and banking stress have contributed to the increase in the level and in the heterogeneity of non-financial firms' financing costs in the Euro area during the European debt crisis and how both have affected the monetary transmission...
Persistent link: https://www.econbiz.de/10011797419
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Carry trades in Asia and the Pacific : evidence on unconventional monetary policies of advanced economies
Pornpinun Chantapacdepong; Ito, Hiroyuki; Hull, Kieran - 2017
to reassess the uncovered interest rate parity (UIP). We are particularly interested in whether and to what extent … unconventional monetary policy (UMP) affects the UIP relationship for 11 currencies in Asia and the Pacific. When we run the Fama … regression for the period of 2001 through 2016, we show that UIP does not hold, consistent with previous studies. We augment the …
Persistent link: https://www.econbiz.de/10011757991
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Infrastructure investment, private finance, and institutional investors : Asia from a global perspective
Inderst, Georg - 2016
This study evaluates infrastructure investment and finance in Asia from a global perspective. It provides an overview on infrastructure needs and the various sources of private finance, globally and within Asia, and creates a "bigger picture" for the demand and supply of capital for...
Persistent link: https://www.econbiz.de/10011415958
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Long-term interest rate spillovers from major developed economies to emerging Asia
Belke, Ansgar; Dubova, Irina; Volz, Ulrich - 2017
This paper explores the extent to which changes to long-term interest rates in major developed economies have influenced long-term government bond yields in emerging Asia. To gauge long-term interest spillover effects, the paper uses vector autoregressive variance decompositions with...
Persistent link: https://www.econbiz.de/10011635580
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Asian tigers' choices : an overview
Chow, Hwee-kwan - 2010
This paper considers the choices facing the Asian tiger economies regarding growth strategies that foster trans-Pacific rebalancing. A review of historical data spanning 2000 to 2008 reveals only a slight widening of the overall current account surplus but that there is considerable variation...
Persistent link: https://www.econbiz.de/10008732361
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Can Asia sustain an export-led growth strategy in the aftermath of the global crisis? : an empirical exploration
Razmi, Arslan; Hernández, Gonzalo - 2011
Many developing countries have attempted to pursue the East Asian growth model in recent decades. This model is widely perceived to have been based on export-led growth. Given that developed countries are likely to grow at a slower rate and be less willing to run trade deficits in the...
Persistent link: https://www.econbiz.de/10009381662