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How do structural policies affect financial crisis risk? : evidence from past crises across OECD and emerging economies
Ahrend, Rudiger; Goujard, Antoine - 2012
This paper examines how structural policies can influence a country's risk of suffering financial turmoil. Using a panel of 184 developed and emerging economies from 1970 to 2009, the empirical analysis examines which structural policies can affect financial stability by either shaping the...
Persistent link: https://www.econbiz.de/10009691018
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Exposure to international crises : trade vs. financial contagion
Grant, Everett - 2016
I identify new patterns in countries' economic performance over the 2007-2014 period based on proximity through distance, trade, and finance to the US subprime mortgage and Eurozone debt crisis areas. To understand the causes of the cross-country variation, I develop an open economy model with...
Persistent link: https://www.econbiz.de/10011975657
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Sovereign risk and bank risk-taking
Ari, Anil - 2018
I propose a dynamic general equilibrium model in which strategic interactions between banks and depositors may lead to endogenous bank fragility and slow recovery from crises. When banks' investment decisions are not contractible, depositors form expectations about bank risk-taking and demand a...
Persistent link: https://www.econbiz.de/10011978544
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What drives sovereign debt portfolios of banks in a crisis context?
Lamas, Matías; Mencía, Javier - 2019
We study determinants of sovereign portfolios of Spanish banks over a long time-span, starting in 2008. Our findings challenge the view that banks engaged in moral hazard strategies to exploit the regulatory treatment of sovereign exposures. In particular, we show that being a weakly capitalized...
Persistent link: https://www.econbiz.de/10011978836
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Structural developments in global financial intermediation : the rise of debt and non-bank credit intermediation
Patalano, Robert; Roulet, Caroline - 2020
This paper examines global credit intermediation through the lens of financial markets and financial intermediaries in the post-crisis period during which highly accommodative monetary policies contributed to investors’ search for yield. It reviews the extent to which non-bank intermediation...
Persistent link: https://www.econbiz.de/10012312160
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Corporate debt stress testing : a global analysis of non-financial corporations
Roulet, Caroline - 2020
High-yield corporate and leveraged loans have grown substantially over the past decade. However, the COVID-19 pandemic means downside risks are rising alongside expectations of severe negative impacts on corporate earnings and economic growth. The proportion of leveraged corporate debt exposed...
Persistent link: https://www.econbiz.de/10012312170
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Transnational banks and the external indebtedness of developing countries : impact of regulatory changes
Bouchet, Michel Henri; Islam, Azizul - 1992
Persistent link: https://www.econbiz.de/10000839984
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Changes in economic and financial synchronisation : a global factor analysis
Maravalle, Alessandro; Rawdanowicz, Łukasz - 2018
We estimate dynamic factor models for two sub-samples between 1995 and 2017 for up to 42 advanced and emerging-market economies to investigate changes in the contribution of global and regional factors to fluctuations in real GDP per capita growth, inflation, 10-year government bond yields and...
Persistent link: https://www.econbiz.de/10011995720
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Who's in your export market? : the changing pattern of competition in world trade
Araújo, Sónia; Chalaux, Thomas; Haugh, David - 2018
The rapid integration of emerging market economies (EMEs) into world trade over the past three decades has raised … changes in world demand as drivers of country competitiveness at the individual product level. The negative effect of a one … standard deviation decrease in world demand for a product exerts 8 times more pressure than a one standard deviation increase …
Persistent link: https://www.econbiz.de/10011995793