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Capital controls and foreign investor subsidies implicit in South Africa's dual exchange rate system

Windt, Peter C. van der (contributor); … - 2007

Persistent link: https://www.econbiz.de/10003686507

Capital controls and foreign investor subsidies implicit in South Africa's dual exchange rate system

Huizinga, Harry; Schaling, Eric; Windt, Peter C. van der - 2007

Persistent link: https://www.econbiz.de/10003502742

The taxation implicit in two-tiered exchange rate systems

Huizinga, Harry - 1996

Persistent link: https://www.econbiz.de/10000952003

Capital Controls and Foreign Investor Subsidies Implicit in South Africa's Dual Exchange Rate System

Windt, Peter van der - 2007

Both in theory and practice, capital controls and dual exchange rate systems can be part of a country's optimal tax policy. We first show how a dual exchange rate system can be interpreted as a tax (or subsidy) on international capital income. We show that a dual exchange rate system, with...

Persistent link: https://www.econbiz.de/10012728532

The Taxation Implicit in Two-Tiered Exchange Rate Systems

Huizinga, Harry - 1996

A two-tiered exchange rate system can be interpreted as a set of separate taxes on money and other financial assets. If the official two-tiered exchange rate system coexists with a black market for foreign exchange, then there is implicit taxation of the international goods trade as well. This...

Persistent link: https://www.econbiz.de/10014398041

Accounting Discretion of Banks During a Financial Crisis

Laeven, Luc - 2009

This paper shows that banks use accounting discretion to overstate the value of distressed assets. Banks' balance sheets overvalue real estate-related assets compared to the market value of these assets, especially during the U.S. mortgage crisis. Share prices of banks with large exposure to...

Persistent link: https://www.econbiz.de/10013155729

Accounting Discretion of Banks During a Financial Crisis

Laeven, Luc - 2009

Persistent link: https://www.econbiz.de/10012677876

Accounting Discretion of Banks During a Financial Crisis

Laeven, Luc - 2009

This paper shows that banks use accounting discretion to overstate the value of distressed assets. Banks'' balance sheets overvalue real estate-related assets compared to the market value of these assets, especially during the U.S. mortgage crisis. Share prices of banks with large exposure to...

Persistent link: https://www.econbiz.de/10014402374

How does long-term finance affect economic volatility?

Demirgüç-Kunt, Asil; Horváth, Bálint; Huizinga, Harry - 2016

Persistent link: https://www.econbiz.de/10011427979

How Does Long-Term Finance Affect Economic Volatility?

Demirgüç-Kunt, Asli - 2016

-level growth volatility. We find that firms in industries with stronger preference to use long-term finance relative to short …-term finance experience lower growth volatility in countries with better-developed financial systems, as these firms may benefit … mitigate refinancing risk and therefore growth volatility associated with short-term financing. Increased availability of long …

Persistent link: https://www.econbiz.de/10013000820