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Do local currency bond markets enhance financial stability?
Park, Donghyun; Shin, Kwanho; Tian, Shu - 2018
It is widely believed that local currency bond markets (LCBMs) can promote financial stability in developing countries. For instance, they can help mitigate the currency and maturity mismatch that contributed to the outbreak of the Asian financial crisis of 1997-1998. In this paper, we...
Persistent link: https://www.econbiz.de/10011920074
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Do Local Currency Bond Markets Enhance Financial Stability?
Park, Donghyun - 2019
It is widely believed that local currency bond markets (LCBMs) can promote financial stability in developing countries. For instance, they can help mitigate the currency and maturity mismatch that contributed to the outbreak of the Asian financial crisis of 1997–1998. In this paper, we...
Persistent link: https://www.econbiz.de/10012892024
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Does bond market development enhance the banking sector's efficiency in resource allocation? : industry-level evidence from Korea
Park, Donghyun; Shin, Kwanho; Tian, Shu - In: The North American journal of economics and finance : a … 57 (2021), pp. 1-24
Persistent link: https://www.econbiz.de/10012822175
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Do local currency bond markets enhance financial stability? : some empirical evidence
Park, Donghyun; Shin, Kwanho; Tian, Shu - In: Emerging markets, finance & trade : a journal of the … 57 (2021) 2, pp. 562-590
Persistent link: https://www.econbiz.de/10012423815
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The Development of Local Currency Bond Markets and Uncovered Interest Rate Parity
Park, Cyn-Young; Shin, Kwanho - 2023
This paper investigates whether the uncovered interest parity (UIP) will hold more firmly if the local currency bond markets (LCBMs) are more developed, and the presence of nonbank financial institutions (NBFIs) is expanded. Deviations in UIP decrease as LCBMs develop, while the patterns of the...
Persistent link: https://www.econbiz.de/10014254706
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The development of local currency bond markets and uncovered interest rate parity
Park, Cyn-Young; Shin, Kwanho - 2023
This paper investigates whether the uncovered interest parity (UIP) will hold more firmly if the local currency bond markets (LCBMs) are more developed, and the presence of nonbank financial institutions (NBFIs) is expanded. Deviations in UIP decrease as LCBMs develop, while the patterns of the...
Persistent link: https://www.econbiz.de/10013540710
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Saving, Investment, and Current Account Surplus in Developing Asia
Park, Donghyun; Shin, Kwanho - 2009
Asia has run since the 1997–1998 Asian crisis. A country's current account surplus is, by definition, equal to its net …
Persistent link: https://www.econbiz.de/10010507271
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The Service Sector in Asia: Is It an Engine of Growth?
Park, Donghyun; Shin, Kwanho - 2012
The underdeveloped service sector in Asia has the potential to become a new engine of economic growth for developing … Asia, which has traditionally relied on export-oriented manufacturing to power its growth. The central objective of this … role of the service sector as an engine of growth in Asia. However, some Asian countries where the service sector is …
Persistent link: https://www.econbiz.de/10010507372
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Trade integration and business cycle co-movements : the case of Korea with other Asian countries
Shin, Kwanho; Wang, Yun-jong - In: Japan and the world economy : international journal of … 16 (2004) 2, pp. 213-230
Persistent link: https://www.econbiz.de/10001975659
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The People's Republic of China as an Engine of Growth for Developing Asia? Evidence from Vector Autoregression Models
Park, Donghyun - 2010
Developing Asia has traditionally relied on exports to the United States (US) and other industrialized countries for …
Persistent link: https://www.econbiz.de/10013142887