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US dollar credit is growing quickly outside the United States, especially in Asia, and in some economies it has … outpaced overall credit growth. Cross-border sources of credit bear watching in view of their record of outgrowing overall … credit in credit booms. Foreign currency and cross-border sources of credit raise policy issues …
Persistent link: https://www.econbiz.de/10013092207
The year 2009 is a propitious time to evaluate systems of investor protection in financial markets as global bank losses exceed the 1 trillion mark and market losses equally exceed the 1 trillion mark. Prior to the Global Financial Crisis, the European Union enacted sweeping legislation to...
Persistent link: https://www.econbiz.de/10013157246
Pecking order models of international finance suggest that countries should become less reliant on international bank lending as they develop. Reduced information costs are one of the factors behind this trend towards disintermediation. This paper presents a simple model on the choice between...
Persistent link: https://www.econbiz.de/10011473710
. Despite the hype, equity crowdfunding is still the smallest. Due to exemptions in legislations, Europe has been at the … start-ups can play job creation and economic growth in Europe. In this paper, we assess the potential role of equity …
Persistent link: https://www.econbiz.de/10013046686
Motivated by existing research on the informational and monitoring role of social trust, we examine how social trust affects firms’ choice between bank debt and public debt. Using firm-level data from 32 countries, we document that higher social trust is associated positively (negatively) with...
Persistent link: https://www.econbiz.de/10013405362
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The concept of settlement balances is simple in its definition but complex when attempting to understand how they interplay between a central bank and the financial system. Settlement balances can be defined as interest-bearing deposits that belong to participants of Canada's payment system and...
Persistent link: https://www.econbiz.de/10013256950
During and after the Great Recession of 2008-09, conventional monetary policy in the United States and many other advanced economies was constrained by the effective lower bound (ELB) on nominal interest rates. Several central banks implemented large-scale asset purchase (LSAP) programs, more...
Persistent link: https://www.econbiz.de/10011873794