This article describes how the institutional set-up of central bank tasls policies differs across Europe and discusses central bank involvement. In some jurisdictions (like Austria) the central bank continues to focus on its core monetary tasks, whereas in other jurisdictions (like the...

This paper investigates the effects of the Covid-19 pandemic on financial institutions and consumers’ adoption of FinTech in payments. We find that the pandemic: [1] Initially had a negative impact on the adoption of FinTech, but favorable short-term regulatory changes have reversed some of...

In this paper, using monetary policy rules, we build a model which describes the fixing of the interest rate by the Bank of Central African's States (BEAC). First, with a GMM adapted for a forward looking rule, we propose a reaction function for this central bank. The result shows that from 1986...

Before 1989 Romanian banking system was structured in the specific way of a centralized economy. Restructuring the banking system took its first step at the end of 1990 when the newly established commercial bank Banca Comerciala Romana (BCR) took over retail operations performed previously by...

We assemble a novel data-set on Indian public debt that contains consistently defined aggregate annual components from 1951-2018, and Centre-State security level data from 2000-2018. Using a standard debt-decomposition framework, we quantify the extent to which inflation, real GDP growth,...

Turkey had several unsuccessful stabilization efforts during 1980s and 1990s. Thanks to policies that were put into practice after the 2001 crisis, which constitutes a turning point for Turkish economy, fiscal discipline was restored, single digit inflation was reached, and yet growth rate was...

The present paper reviews the causes that led to the financial crisis. Unlike other interpretations, this paper does not place main significance on a single source or on a set of causes. I consider all major standpoints highlighted by research and media prior, during and after the financial...

The present paper reviews the causes that led to the financial crisis. Unlike other interpretations, this paper does not place main significance on a single source or on a set of causes. I consider all major standpoints highlighted by research and media prior, during and after the financial...

The move from the originate-to-hold to originate-to-distribute model of lending profoundly transformed the functioning of credit markets and weakened the natural asset transformation function performed by financial intermediaries for centuries. This shift also compromised the role of banks in...

Iran’s agriculture part is one of the areas that can have an important effect on the growth of country’s economy. Concerning this, variables that can increase value added agriculture have been concentrated on and the government is supporting them. One of these policies is granting loanable...