On May 11-12, 2011, SUERF, the Belgian Financial Forum, the Brussels Finance Institute and the Centre for European Policy Studies (CEPS) jointly organised the 29th SUERF Colloquium New paradigms in money and finance? The papers included in this SUERF Study are based on contributions to the...

This paper analyzes the evolution of the banking system sensitivity to cross-border contagion in 2006-2011. The study is performed on the basis of the BIS data on cross-border exposures and the Bankscope data on Tier 1 capital of 20 banking systems (Australia, Austria, Belgium, Canada, Finland,...

Bank profitability in the USA was extremely high in the pre-crisis period, yet this did not prevent the current crisis. It has become clear that these profits were on shaky grounds and also that bank profits were not used to buttress banks' capital bases. This paper analyses the effects of...

During the European financial crisis, the European Central Bank implemented a series of unconventional monetary policy measures. We argue that these unconventional monetary policy measures created soft budget constraints for the Eurozone countries by lowering their bond yield spreads. This...

This paper presents an early warning system for predicting banking crises specifically tailored to developed small open economies. The model considers two sources of financial instability: Domestic macro-financial imbalances and exposure to foreign banking systems with high crisis risk. Exposure...

With the financial bomb hitting most of the East Asian economies the financial structure of most of the economies collapsed. Economies like Singapore, Indonesia, Thailand, Malaysia, Philippines were heavily affected, we will provide a brief insight into these economies during the crisis period....

This paper addresses the following question: If a financial crisis affecting a group of emerging economies were to take place sometime over the next three years, where would the crisis likely originate, how could it be transmitted to other economies, and which economies would be most affected by...

The 1997 Asian financial crisis inflicted serious economic damages to many Asian countries. However, China was conspicuously avoided being severely attacked by this crisis. This study compares the growth patterns of foreign short-term debt, the foreign debt structure and short-term foreign...

One of the puzzling phenomena in the emerging financial market was that financial crises often took place in middle-income countries rather than in low-income countries. This study empirically studies the financial crises between 1993 and 2003 and finds that the over-reliance on foreign debt,...