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Liberalisation and development of the Czech financial sector: more to come
Kay, Neil - 2007
The Czech financial sector has changed dramatically since transition. In fifteen years, it has developed from a state-owned mono-bank into a privatised bank-based financial system with developing capital and private equity markets. This country focus analyses the development of the financial...
Persistent link: https://www.econbiz.de/10009641248
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Finance and growth in the EU
De Ávila, Diego Romero - 2003
This paper analyses the link between finance and growth by studying the effect that the process of financial deregulation and harmonisation of banking laws at the EU level has brought about on growth over the last 40 years. Our main findings point to the existence of a positive long-run growth...
Persistent link: https://www.econbiz.de/10009635911
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Growth expectations, capital flows and international risk sharing
Castrén, Olli; Miller, Marcus; Stiegert, Roger - 2003
Over the past decades, cross-border financial flows have increased in importance and have in many occasions exceeded the underlying current account positions. This phenomenon has been accompanied by an increase in the volume of international equity transactions that accentuate the role of...
Persistent link: https://www.econbiz.de/10009635970
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Spain's external deficit: how is it financed?
Cabrero, Alberto; Maza, Luis Angel; Yaniz, Javier - 2007
In 2006 the external net borrowing requirement of the Spanish economy was almost 8% of GDP, after having been in balance between 1993 and 1998. This increased borrowing requirement is the financial mirror image of a growth model, in which corporate and households' investments are generating an...
Persistent link: https://www.econbiz.de/10009641175
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Volatility of interest rates in the euro area
Cassola, Nuno; Morana, Claudio - 2003
This paper estimates the factors underlying the volatility of the euro overnight interest rate and its transmission …'s operational framework for monetary policy implementation. Strong persistence is detected in all log-volatility processes and and …. the second factor explains the transmission of volatility along the money market yield curve. We find evidence that most …
Persistent link: https://www.econbiz.de/10009635972
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Fiscal policy and inflation volatility
Rother, Philipp C. - 2004
Among the harmful effects of inflation, the negative consequences of inflation volatility are of particular concern … inflation volatility. Major results are robust for unconditional and conditional inflation volatility, the latter derived from …
Persistent link: https://www.econbiz.de/10009636540
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Non-fundamental exchange rate volatility and welfare
Straub, Roland; Tchakarov, Ivan - 2004
We lay out an empirical and a theoretical model to analyze the effects of non-fundamental exchange rate volatility on … of the conditional exogenous exchange rate volatility on the conditional mean of the endogenous variables in our open … empirically. In the second part, we investigate the effect of non-fundamental exchange rate volatility in a stochastic open …
Persistent link: https://www.econbiz.de/10009636551
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The impact of investment funds on restructuring practices and employment levels
Gospel, Howard; Haves, Jakob; Pendleton, Andrew - 2010
One feature of the global economy in recent years has been the increasing number and importance of new investment funds (private equity (PE), hedge funds (HFs), and sovereign wealth funds (SWFs)), which are sometimes referred to as alternative investment funds (AIFs). This increase has...
Persistent link: https://www.econbiz.de/10011903925
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The impact of investment funds on restructuring practices and employment levels : Company case studies
Gospel, Howard; Haves, Jakob; Pendleton, Andrew - 2010
This report examines whether investment funds – in particular, private equity, hedge funds and sovereign wealth funds – help to revive underperforming companies and thereby contribute to employment growth or whether, on the contrary, they strive to maximise financial returns at the expense...
Persistent link: https://www.econbiz.de/10011903926
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Consumer vulnerability across key markets in the European Union : Final report
Austgulen, Marthe H. (contributor) - London Economics; VVA Consulting; Ipsos Mori consortium - 2016
The study examines the incidence of vulnerability across the EU28 and Iceland and Norway, and the factors explaining any observed vulnerability. The study uses a range of information sources (literature review, stakeholder interviews, consumer survey and consumer experiments in five countries)...
Persistent link: https://www.econbiz.de/10012036387