Showing 1 - 10 of 153
Persistent link: https://www.econbiz.de/10012313593
We test whether political instability affects central bank independence in developing countries. Both a legal measure … and the turnover tate of central bank governors are used as proxies for central bank independence and the frequency of … government transfers is used to proxy political instability. Only the number of coups affects the turnover rate of central bank …
Persistent link: https://www.econbiz.de/10009208189
After the bankruptcy of Lehman Brothers, in September 2008, there was huge stress in the financial markets. In the money markets, the Eurosystem had to adopt measures providing liquidity to banks in order to avoid the collapse of the interbank market. In this work we analyze the changes in the...
Persistent link: https://www.econbiz.de/10010280978
to retail rates is on the low side, reflecting the shallowness of money markets and the manner in which GCC central banks …
Persistent link: https://www.econbiz.de/10010878414
Over the past decade policy makers in Latin America have adopted a number of macroprudential instruments to manage the procyclicality of bank credit dynamics to the private sector and contain systemic risk. Reserve requirements, in particular, have been actively employed. Despite their...
Persistent link: https://www.econbiz.de/10010878415
In this study, Armenia’s financial challenges observed in the global crisis are discussed, and also the development processes initiated by Armenia are analyzed. Short- and medium-term outlooks, and risks are also outlined. Fiscal, monetary, and banking sector policies play important roles...
Persistent link: https://www.econbiz.de/10011244279
proposed new EU financial stability arrangements. The paper analyzes the European Central Bank’s response to the global …
Persistent link: https://www.econbiz.de/10011244389
This paper discusses key findings of the Sixth and Final Review Under the Stand-By Arrangement for Paraguay. The program remains broadly on track. All performance criteria for end-March 2008 were met, and those for end-June 2008 are expected to have been observed. With one exception, all...
Persistent link: https://www.econbiz.de/10011244416
This 2008 Article IV Consultation highlights that Bolivia’s overall fiscal position has improved in 2008. Booming hydrocarbon and mining exports, together with high remittance inflows, led to a record-high current account surplus and large reserve accumulation, with major pressures on...
Persistent link: https://www.econbiz.de/10011244436
Trinidad and Tobago showed strong economic performance led by the buoyant energy sector. Executive Directors welcomed the robust economic activity, and the decline in public debt and external reserves. Directors stressed the need for strong macroeconomic and structural policies to enable the...
Persistent link: https://www.econbiz.de/10011244617