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A Dual Liquidity Model for Emerging Markets
Caballero, Ricardo J.; Krishnamurthy, Arvind - 2003
The last few years have seen a significant re-evaluation of the models used to analyze crises in emerging markets. Recent models typically stress financial constraints or distorted financial incentives. While this certainly represents progress, these models share a weakness with the earlier...
Persistent link: https://www.econbiz.de/10014121253
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A Dual Liquidity Model for Emerging Markets
Caballero, Ricardo J.; Krishnamurthy, Arvind - 2002
The last few years have seen a significant re-evaluation of the models used to analyze crises in emerging markets. Recent models typically stress financial constraints or distorted financial incentives. While this certainly represents progress, these models share a weakness with the earlier...
Persistent link: https://www.econbiz.de/10014110704
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The 2008 financial crisis: Stock market contagion and its determinants
Luchtenberg, Kimberly F.; Vu, Quang Viet - In: Research in International Business and Finance 33 (2015) C, pp. 178-203
In this paper, we investigate worldwide contagion and its determinants during the 2008 financial crisis. Utilizing an international sample of returns from 2003 to 2009, we consider both uni- and bi-directional contagion. After controlling for crisis-related volatility, we find strong evidence...
Persistent link: https://www.econbiz.de/10011116374
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Volatility spillovers of Federal Reserve and ECB balance sheet expansions to emerging market economies
Apostolou, Apostolos; Beirne, John - 2017
This paper examines volatility spillovers from changes in the size of the balance sheets of the Federal Reserve (FED) and European Central Bank (ECB) to emerging market economies (EMEs) from 2003 to 2014. We find that EME bond markets are most susceptible to positive volatility spillovers from...
Persistent link: https://www.econbiz.de/10011636172
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Sovereign Credit Risk in the Euro Zone
Haidar, Jamal Ibrahim - 2012
What is the current state of sovereign credit risk across Euro zone? Does the recent fiscal crisis extend to other (non … Euro zone) countries? Is Greece the center of the problem? How did the current fiscal crisis in the Euro area start? Who is … behind it? Why can it evolve? How can it be addressed? And, is a fiscally-challenged country likely to want to leave the Euro …
Persistent link: https://www.econbiz.de/10013114887
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The Euro and the International Financial System
Portes, Richard - 2002
This paper analyses the issues raised by EMU for the relationships between the euro area and the international … financial system. The depreciation of the euro exchange rate since the beginning of EMU has attracted most attention. The paper … that the authorities should take a more active policy stance. The paper assesses the role of the euro as an international …
Persistent link: https://www.econbiz.de/10014123552
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European financial market dependence : an industry analysis
Bartram, Söhnke M.; Wang, Yaw-Huei - In: Journal of banking & finance 59 (2015), pp. 146-163
Persistent link: https://www.econbiz.de/10011544416
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Exchange rate volatility and tax revenue: Evidence from Ghana
Ofori, Isaac Kwesi; Obeng, Camara Kwasi; Armah, Mark Kojo - In: Cogent Economics & Finance 6 (2018) 1
exchange rate volatilities had been generated using the GARCH(1,1) method. The results of the study suggest that exchange rate …
Persistent link: https://www.econbiz.de/10012435772
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Effect of Exchange Rate Volatility on Tax Revenue Performance In Sub-Saharan Africa
Ofori, Isaac Kwesi; Obeng, Camara Kwasi; Mwinlaaru, … - 2021
Efforts to spur growth in sub-Sahara Africa have been intensified amid structural and institutional constraints. Tax revenue, the chief source of funding for developmental purposes in SSA remains low and unstable. In fact, the SSA sub-region finds it difficult generating tax revenue up to 20 per...
Persistent link: https://www.econbiz.de/10012511634
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Inflation Uncertainty, Exchange Rate Depreciation and Volatility: Evidence from Ghana, Mozambique and Tanzania
Molana, Hassan; Osei-Assibey, Kwame - Department of Economics Studies, University of Dundee - 2010
While flexible exchange rates facilitate stabilisation, exchange rate fluctuations can cause real volatility. This gives policy importance to the causal relationship between exchange rate depreciation and its volatility. An exchange rate may be expected to become more volatile when the...
Persistent link: https://www.econbiz.de/10008739720