This study proposes to assess the vulnerability of banking sector's credit portfolio under macroeconomic shocks and to evaluate its impact on banking system capitalization. Our method uses the Global Vector Autoregressive (GVAR) Model to generate adverse macroeconomic scenarios. The GVAR model...

This study proposes to assess the vulnerability of banking sector’s credit portfolio under macroeconomic shocks and to evaluate its impact on banking system capitalization. Our method uses the Global Vector Autoregressive (GVAR) Model to generate adverse macroeconomic scenarios. The GVAR model...

This paper takes advantage of nationally representative cross-sectional household data sets from 1993, 1997 and 1999, to examine changes in poverty in Madagascar. The authors find that poverty in this Indian Ocean country rose from an already high level of 70 percent in 1993, to 73.3 in 1997,...

This paper takes advantage of nationally representative cross-sectional household data sets from 1993, 1997 and 1999, to examine changes in poverty in one province of Madagascar, Fianarantsoa. The authors find that poverty in this province rose from an already high 74 percent in 1993 to 81...