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Loan-to-value policy as a macroprudential tool : the case of residential mortgage loans in Asia
Morgan, Peter J.; Regis, Paulo José; Salike, Nimesh - 2015
moderating mortgage loan creation, and its effectiveness needs to be estimated empirically. This paper is unique in that it … analyzes the effect of LTV on mortgage lending, the direct channel of influence, using a large sample of banks in 10 Asian … show that economies with LTV polices have expanded residential mortgage loans by 6.7% per year, while non-LTV economies …
Persistent link: https://www.econbiz.de/10010526757
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The role of state intervention in the financial sector : crisis prevention, containment, and resolution
Cho, Yun-je - 2010
This paper discusses the role of state intervention for prevention, containment, and resolution of financial crises based mainly on the Korean experience during the 1997 Asian financial crisis. Crises in emerging market and developing economies tend to be more complicated than those faced by...
Persistent link: https://www.econbiz.de/10003982933
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Lessons from Japan's banking crisis, 1991 – 2005
Fujii, Mariko; Kawai, Masahiro - 2010
The Japanese government's response to the financial crisis in the 1990s was late, unprepared and insufficient; it failed to recognize the severity of the crisis, which developed slowly; faced no major domestic or external constraints; and lacked an adequate legal framework for bank resolution....
Persistent link: https://www.econbiz.de/10003983441
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Regulating systemic risk
Kawai, Masahiro; Pomerleano, Michael - 2010
The failure to spot emerging systemic risk and prevent the current global financial crisis warrants a reexamination of the approach taken so far to crisis prevention. The paper argues that financial crises can be prevented, as they build up over time due to policy mistakes and eventually erupt...
Persistent link: https://www.econbiz.de/10003928099
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Spillovers of the United States' unconventional monetary policy to emerging Asia : the bank lending channel
Xu, Ying; Hai Anh La - 2016
This paper assesses the spillover effects of the United States' unconventional monetary policy (i.e., quantitative easing programs adopted during 2008-2014) on the Asian credit market. With a focus on cross-border bank lending, we employed firm-level loan data with regard to the syndicated loan...
Persistent link: https://www.econbiz.de/10011576780
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Initial output losses from the Covid-19 pandemic : robust determinants
Furceri, Davide; Ganslmeier, Michael; Ostry, Jonathan David - 2021
While the COVID-19 pandemic is affecting all countries, output losses vary considerably across countries. We provide a first analysis of robust determinants of the observed initial output losses using model-averaging techniques-Weighted Average Least Squares and Bayesian Model Averaging. The...
Persistent link: https://www.econbiz.de/10012511052
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Mortgage lending and financial stability in Asia
Morgan, Peter J.; Zhang, Yan - 2015
We estimated the effect of the share of mortgage lending by individual banks (together with some control variables) on … emerging Asian economies for 2007–2013 from the Bankscope database. We find some evidence that an increased share of mortgage … reducing the nonperforming loan ratio, at least in noncrisis periods, for levels of mortgage shares up to 30%–40%. For higher …
Persistent link: https://www.econbiz.de/10011350157
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Securitized products, financial regulation, and systemic risk
Fujii, Mariko - 2010
It is widely believed that the practice of securitization is one of the causes that led to the 2007-08 financial crisis. In this paper, I show that securitized products such as collateralized debt obligations (CDO) are particularly vulnerable to systematic risk and tend to show higher tail risk....
Persistent link: https://www.econbiz.de/10003983112
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Financial crisis, trade finance, and SMEs : case of Central Asia
Pasadilla, Gloria O. - 2010
This paper surveys studies of the importance of Central Asian small- and medium-sized enterprises (SME) in the economy and their experience during the Russian financial crisis. It also uses survey data from the World Bank and the European Bank for Reconstruction and Development's Business...
Persistent link: https://www.econbiz.de/10003928093
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The great liquidity freeze : what does it mean for international banking?
Domanski, Dietrich; Turner, Philip - 2011
In mid-September 2008, following the bankruptcy of Lehman Brothers, international interbank markets froze and interbank lending beyond very short maturities virtually evaporated. Despite massive central bank support operations and purchases of key assets, many financial markets remained impaired...
Persistent link: https://www.econbiz.de/10009161745