Showing 1 - 10 of 6,747
In this paper, we study the relationship between banking crises, external financial crises and gross international … capital flows. First, we confirm that banking and external crises are correlated. Then, as we explore the role of gross … repatriation we call gross foreign investment reversals (GIR) – predict banking as well as external crises. Finally, we estimate …
Persistent link: https://www.econbiz.de/10012969011
The complexity of the Cyprus crisis makes answering the question of the title difficult, while the policy implications make the question important. However, the answer to this question unavoidably points the finger to those responsible, and as a result the quest for an answer is clouted by...
Persistent link: https://www.econbiz.de/10013031535
We look back at past episodes of financial stress in Asia with a forward-looking perspective. We put ourselves in the shoes of a contemporary observer with the data at hand and ask what evidence was available on the systematic build-up of vulnerabilities. We reconstruct a graphical narrative of...
Persistent link: https://www.econbiz.de/10012914110
This paper asks whether bonanzas (surges) in net capital inflows increase the probability of banking crises and whether … indicates that bonanzas in all flows increase the probability of crises when the windfall takes place jointly with a lending … exhibit greater odds of crises after a windfall of capital …
Persistent link: https://www.econbiz.de/10013133353
recession. The existing literature on financial crises rarely distinguish between factors that create the original strain on the … the literature on financial crises refers to factors that cause an original disruption in the financial system. We argue … crises would be reduced if appropriate institutions could be put in place Lacking appropriate institutions to avoid contagion …
Persistent link: https://www.econbiz.de/10013134667
This paper asks whether bonanzas (surges) in net capital inflows increase the probability of banking crises and whether … indicates that bonanzas in all flows increase the probability of crises when the windfall takes place jointly with a lending … greater odds of crises after a windfall of capital …
Persistent link: https://www.econbiz.de/10013104035
systemic banking crises. The paper uses a de facto proxy for financial integration based on network statistics of banks … incidence of banking crises. An increased level of de facto integration as mea- sured by borrowing by banks is positively … associated with the incidence of crises. A higher level of de jure integration (capital account openness) is also associated with …
Persistent link: https://www.econbiz.de/10013083059
This paper presents two views of the European sovereign debt crisis. The first is that the South in the euro zone has been fiscally irresponsible, and has failed to implement supply-side policies such as liberalizing labor markets and the market for services. The second view holds that the...
Persistent link: https://www.econbiz.de/10013066126
We examine the evolution of the Icelandic banking sector in its macroeconomic environment. The story culminates in the crisis of October 2008, when all three major banks in Iceland collapsed in three successive days. The country is still struggling to cope with the consequences. The paper...
Persistent link: https://www.econbiz.de/10013072334
The paper develops a macro-prudential liquidity stress-testing tool in order to capture the possible consequences of a capital outflow (including a run of deposits). The tool includes a feedback from the banking sector to the real economy, incorporates a link between liquidity risk and solvency...
Persistent link: https://www.econbiz.de/10013075929