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Solving Global Financial Imbalances : A Plan for a World Financial Authority
Mirandola, Carlos Mauricio - 2013
This paper will propose a plan to reform international finance – the World Financial Authority (WFA) Plan. Under such a plan, the IMF and other existing international financial institutions would be reformed and coordinated around a newly created WFA. The WFA would have two core functions....
Persistent link: https://www.econbiz.de/10013095450
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Regional and global financial safety nets : the recent European experience and its implications for regional cooperation in Asia
Darvas, Zsolt M. - 2017
This paper compares financial assistance programmes of four euro-area countries (Greece, Ireland, Portugal, and Cyprus …) and three non-euro-area countries (Hungary, Latvia, and Romania) of the European Union in the aftermath of the 2007 …, such as the size of imbalances, financing, unique cooperation of the IMF and various European facilities, and membership of …
Persistent link: https://www.econbiz.de/10011715721
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Regional and global financial safety nets : the recent European experience and its implications for regional cooperation in Asia
Darvas, Zsolt M. - 2017
This paper compares financial assistance programs of four euro-area countries (Greece, Ireland, Portugal, and Cyprus …) and three non-euro-area countries (Hungary, Latvia, and Romania) of the European Union in the aftermath of the 2007 … as the size of imbalances, financing, unique cooperation of the IMF and various European facilities, and membership of a …
Persistent link: https://www.econbiz.de/10011635367
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Short-Run Pain, Long-Run Gain : The Effects of Financial Liberalization
Kaminsky, Graciela; Schmukler, Sergio L. - 2021
We examine the short- and long-run effects of financial liberalization on capital markets. To do so, we construct a new comprehensive chronology of financial liberalization in 28 mature and emerging market economies since 1973. We also construct an algorithm to identify booms and busts in stock...
Persistent link: https://www.econbiz.de/10013318025
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Liquidity and market efficiency : alive and well?
Liikanen, Erkki; Jylhä, Petri; Pennacchi, George G.; … - Joint Conference with the Bank of Finland in Helsinki …; … - 2015
On 3 July 2015, SUERF organized its sixth joint conference with the Bank of Finland in Helsinki on the subject of liquidity and market efficiency. The one-day program consisted of an opening speech, six presentations, including three keynotes, and a lunchtime address. The present SUERF Study...
Persistent link: https://www.econbiz.de/10011414459
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Financial Liberalization and Business Cycles : The Experience of Countries in the Baltics and Central Eastern Europe
Vinhas de Souza, Lucio Vinhas - 2016
Persistent link: https://www.econbiz.de/10012991348
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Financial Liberalization and Business Cycles : The Experience of New EU Member States in the Baltics and Central Eastern Europe
Vinhas de Souza, Lucio Vinhas - 2004
This paper extends the work of Kaminsky and Schmukler (2003) to the Baltic and Central Eastern European new Member States of the European Union, to test if the same short-run increase in cyclical volatility arising from financial integration is observed in this specific sample of "emerging...
Persistent link: https://www.econbiz.de/10014072529
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Financial Opening : Evidence and Policy Options
Aizenman, Joshua - 2002
This paper evaluates the empirical evidence of increasing the chances of financial crises induced by opening up developing countries to short-term capital inflows and appraises the various proposals made for mitigating the severity of financial crises. We point out that there is solid evidence...
Persistent link: https://www.econbiz.de/10014118817
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Drivers of portfolio flows into Chinese debt securities amidst China's bond market development
McCully, Tuuli - 2023
The paper focuses on China's onshore bond market and the drivers of non-resident net portfolio flows into Chinese debt …
Persistent link: https://www.econbiz.de/10014438781
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Strengthening economic resilience : insights from the post-1970 record of severe recessions and financial crises
Caldera Sánchez, Aida; De Serres, Alain; Gori, Filippo; … - 2016
Considering the deep and long-lasting impact of severe recessions, such as the 2008-09 financial crisis, it is important that measures be taken to minimise the risk of such event. But in doing so the benefits need to be balanced against the potential costs in terms of lower average growth that...
Persistent link: https://www.econbiz.de/10011695147