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This paper studies the effect of optimal macroprudential policy in a small open economy model where growth is endogenous. By introducing endogenous growth, this model is able to capture the persistent effect of financial crises on output, which is different from previous literature but...
Persistent link: https://www.econbiz.de/10012852910
The presentation describes the findings of the paper "The interaction between financial development, macroprudential policy and economic growth: a cross-country perspective" (joint with Maria Shchepeleva (HSE)) presented at the International Conference "The new global challenges and comparative...
Persistent link: https://www.econbiz.de/10013323732
A panel data analysis of nonlinear financial growth dynamics in a macroprudential policy regime was conducted in a panel of 10 African emerging countries from 1983-2020, where it had been a non-prudential regime from 1983-1999 and a prudential regime from 2000-2020. The paper explored the...
Persistent link: https://www.econbiz.de/10013199130
"Asian financial systems, which serve the most economically dynamic region of the world, survived the global economic crisis of the last several years. In this book scholars argue in separate essays that Asian systems must strengthen their quality, diversity, and resilience to future shocks in...
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It appears to be common wisdom that the basic cause of Thailand's crisis is its extraordinarily weak financial …-term performance of Thailand's financial system is favorable. The insight from moral hazard indicators is unexpected regarding the bad … explained in a framework of system change than by bad banking in Thailand. …
Persistent link: https://www.econbiz.de/10011578079