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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

Regional and global financial safety nets : the recent European experience and its implications for regional cooperation in Asia

Darvas, Zsolt M. - 2017

/08 global financial and economic crisis-which were supported by the International Monetary Fund (IMF) and various European …, such as the size of imbalances, financing, unique cooperation of the IMF and various European facilities, and membership of …, including the coexistence of the IMF and regional safety nets, cooperation issues, systemic spillovers, and social implications …

Persistent link: https://www.econbiz.de/10011715721

How can the crisis vulnerability of emerging economies be reduced?

Abberger, Klaus; Bhattacharyay, Biswanath; Nam, Chang-woon - 2014 - May 2014

Emerging countries in many cases are more crisis-prone than highly developed industrialized countries. This is in many cases due to a weak or volatile financial sector. The best policy to strengthen crisis resistance is the building up of a sound financial position. A sound financial position of...

Persistent link: https://www.econbiz.de/10011824986

Stigma? What Stigma? : a contribution to the debate on the effectiveness of IMF lending

Scheubel, Beatrice; Tafuro, Andrea; Vonessen, Benjamin - 2018

There is a perception that IMF programmes are not catalytic and instead associated with large capital outflows, higher … effects of IMF programmes may deter countries from asking for an IMF programme when they need one, a form of "IMF stigma". We … materialise and how past experience with adverse market reactions affects subsequent IMF programme participation. Our results …

Persistent link: https://www.econbiz.de/10011846238

Stigma? What stigma? : a contribution to the debate on financial market effects of IMF lending

Scheubel, Beatrice; Tafuro, Andrea; Vonessen, Benjamin - 2018

expectations of adverse effects of IMF programmes may deter countries from asking for an IMF programme when they need one, a form … of "IMF stigma". We explore the existence of IMF financial market stigma using monthly data by estimating how and to … affects subsequent IMF programme participation. Our results, derived with event history techniques and propensity score …

Persistent link: https://www.econbiz.de/10011928948

Regional and global financial safety nets : the recent European experience and its implications for regional cooperation in Asia

Darvas, Zsolt M. - 2017

/08 global financial and economic crisis - which were supported by the International Monetary Fund (IMF) and various European … as the size of imbalances, financing, unique cooperation of the IMF and various European facilities, and membership of a … lessons from European experiences, including the coexistence of the IMF and regional safety nets, cooperation issues, systemic …

Persistent link: https://www.econbiz.de/10011635367

Why are Latin American crises deeper than those in Emerging Asia, including that of COVID-19?

García Herrero, Alicia - 2021

The COVID-19 pandemic has challenged global economies with unparalleled negative shock. Asia and Latin America have gone through a number of financial crises in the last few decades but they have addressed those crises rather differently, leading to different growth trajectories after the...

Persistent link: https://www.econbiz.de/10012490544

Non-Core Bank Liabilities and Financial Vulnerability

Shin, Kwanho; Hahm, Joon-Ho; Shin, Hyun Song - National Bureau of Economic Research (NBER) - 2012

A lending boom is reflected in the composition of bank liabilities when traditional retail deposits (core liabilities) cannot keep pace with asset growth and banks turn to other funding sources (non-core liabilities) to finance their lending. We formulate a model of credit supply as the flip...

Persistent link: https://www.econbiz.de/10010969244

The endless eurozone crisis, where do we stand? a classical-kaleckian overview

Cesaratto, Sergio - In: STUDI ECONOMICI 2012/107 (2012) 107, pp. 35-63

It is not easy to untangle the logic that in the past led to creation of the European Monetary Union (EMU) and that is currently guiding the prevailing Eurozone (EZ) policies. Although lacking the right institutions, which can be seen as the ultimate root of its crisis, the ten years of the EMU...

Persistent link: https://www.econbiz.de/10010876355

The Federal Reserve Engages the World (1970-2000): An Insider’s Narrative of the Transition to Managed Floating and Financial Turbulence

Truman, Edwin M. - Peter G. Peterson Institute for International Economics … - 2014

This paper traces the evolution of the Federal Reserve and its engagement with the global economy over the last three decades of the 20th century: 1970 to 2000. The paper examines the Federal Reserve’s role in international economic and financial policy and analysis covering four areas: the...

Persistent link: https://www.econbiz.de/10010889808