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This paper investigates the changing network of financial markets between Asian markets and those of the rest of the world during January 2003–December 2017 to capture both the direction and strength of the links between them. Because each market chooses whether to connect with emerging...
Persistent link: https://www.econbiz.de/10012835367
This paper investigates the changing network of financial markets between Asian markets and those of the rest of the world during January 2003−December 2017 to capture both the direction and strength of the links between them. Because each market chooses whether to connect with emerging...
Persistent link: https://www.econbiz.de/10012020460
This paper examines how financial regulation and institutional quality affect the probability of a banking crisis using a panel of 132 countries over the period 1999-2011. We find that the probability of a financial crisis increases moving from low to medium levels of regulation and decreases...
Persistent link: https://www.econbiz.de/10012963325
The relevancy of Minsky's Financial Instability Hypothesis (FIH) in the current (and still unfolding) crisis has been clearly acknowledged by both economists and regulators. While most papers focus on discussing to what extent the FIH or Minsky's Big Bank/Big Government interpretation is...
Persistent link: https://www.econbiz.de/10013122842
The relevancy of Minsky’s Financial Instability Hypothesis (FIH) in the current (and still unfolding) crisis has been clearly acknowledged by both economists and regulators. While most papers focus on discussing to what extent the FIH or Minsky’s Big Bank/Big Government interpretation is...
Persistent link: https://www.econbiz.de/10009229806
In the summer of 1931, the Austro-German banking crisis spread to Romania and Bulgaria. In the Romanian case, the management of the crisis confronted three types of protagonists - politicians, bankers and central bankers - and positions about the relevant attitude to adopt, in particular to...
Persistent link: https://www.econbiz.de/10013447673
Financialisation in Iceland should be seen as an evolving process driven by a mixture of global and domestic forces. Responding to fundamental issues underlying macroeconomic imbalances, the authorities introduced policies that proved particularly supportive of financial expansion at a time when...
Persistent link: https://www.econbiz.de/10011311191
Collapsing credit markets have been blamed for the depth and persistence of the Great Depression in the United States. Could similar mechanisms have played a role in ending the East Asian economic miracle - and in creating fragility in global financial markets? After a brief account of the...
Persistent link: https://www.econbiz.de/10014153147
To what extent can private firms' external equity substitute for debt financing in a banking crisis? To answer this question, I use firm-level data and firm-bank linkages to estimate the causal effect of an imported lending cut from a large German bank on firms' capital structure and real...
Persistent link: https://www.econbiz.de/10015179796
Persistent link: https://www.econbiz.de/10001756795