In this paper we study the impact of the Basel III liquidity regulations, namely the Liquidity Coverage Ratio (LCR) and the Net Stable Funding Ratio (NSFR), on the bank lending channel in Luxembourg. For this aim we built, based on individual bank data, time series of the LCR and NSFR for a...

French Abstract: Dérivé du terme crowdsourcing, le crowdfunding (ou financement participatif) est une méthode de levée de fonds, principalement sur Internet, qui s'appuie sur les réseaux sociaux et les plates-formes communautaires. Face aux contraintes réglementaires restreignant son...

French Abstract: Les entreprises camerounaises ont-elles plus que par le passé accès au crédit en fonction de leur performance? A partir des données des entreprises manufacturières camerounaises, l'article compare les résultats issus de deux sous échantillons, avant les réformes et la...

This paper aims at reviewing selected literature on (1) structural financial changes observed in a large sample of transition economies in the Central and/or Oriental Europe during the last two decades, (2) efficiency of this financial liberalization in relative terms (in macroeconomic sense),...

This paper addresses the macroeconomic impact of international financial integration. I first provide empirical evidence that foreign banking penetration can be associated with a contraction of banking credit, especially in countries with poor credit markets. Second I present a model in which...

Our study aims at measuring banking system efficiency for France and WAMU, by isolating environmental specificities to each region. Our results show that the two banking systems have quite close efficiency scores about 80%. As their french counterparts, WAMU banks are efficient; however this...

French Abstract: L'Afrique francophone a été dominée jusqu'à présent par les répercussions politiques, économiques et culturelles de la domination coloniale française. Contrairement à la domination coloniale « indirecte » de la Grande-Bretagne, Paris gouvernait ses (anciennes)...

While the relationship between inflation and relative price variability (RPV) has been widely investigated in developed and emerging market economies because of its direct relevance to monetary policy implementation, research has neglected this linkage in most developing countries especially in...

Inflation targeting (IT) has become the dominant monetary policy framework around the world and most of the countries that have adopted it have successfully improved their monetary policy regime. The objective of this paper is to assess WAMZ member countries' readiness to adopt inflation...

We build a model with frictional unemployment and staggered wage bargaining and we assume that hours worked are negotiated every period. We analyze the role of workers? bargaining power in the hours negotiation on unemployment volatility and inflation persistence. The closer to zero is this...