Die umfangreiche Textsammlung steht unter dem Oberthema "Wachstum im pazifischen Raum und finanzielle Beziehungen". Untersucht werden die Entwicklung der Finanzsituation im pazifischen Raum, die Situation in einzelnen Ländern (Thailand, Korea), die internationalen Verflechtungen im Banksektor,...

In this paper, we develop a specific observable symptom of a banking system that underprices the default spread in non-recourse asset-backed lending. Using three different data sets for 18 countries and property types, we find that, following a negative demand shock, the underpricing economies...

As the countries in East Asia embark on financial liberalization, a key issue that confronts policymakers is the greater complexity of risks that is injected into the financial system. In particular, capital account liberalization may potentially increase the vulnerability of individual...

This paper develops a model which is able to forecast exchange rate turmoil. Our starting point relies on the empirical evidence that exchange rate volatility is not constant. In fact, the modeling strategy adopted refers to the vast literature of the GARCH class of models, where the variance...