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Persistent link: https://www.econbiz.de/10010372001
In CIS Central Asia, the institutional economic framework is found to be remarkably heterogeneous across the region: Kazakhstan and the Kyrgyz Republic are market-oriented reforming economies, Tajikistan and Uzbekistan can be characterized as hybrid economies, while Turkmenistan remains largely...
Persistent link: https://www.econbiz.de/10008623559
CIS Central Asia’s structural heterogeneity may have deepened since the global crisis of 2008–09. Kazakhstan and Turkmenistan are relatively rich oil and gas exporters, the Kyrgyz Republic and Tajikistan are poor energy importers, and Uzbekistan is a more diversified but still rather poor...
Persistent link: https://www.econbiz.de/10011185405
, China's stimulus boosted real GDP growth from an annualized 6.2% in the first quarter of 2009 trough to 11.9% in the first … speed and efficacy of China's stimulus derives from state control over its banking system and corporate sector. Beijing …, fueling a real estate bubble; and that China's seemingly highly effective macroeconomic stimulus package may well have induced …
Persistent link: https://www.econbiz.de/10009293913
In this paper I investigate whether there is a systematic difference between conventional banks and participation banks in terms of their response to monetary policy shocks. For this purpose I look at the quarterly loan growth of commercial banks and participation banks in Turkish banking sector...
Persistent link: https://www.econbiz.de/10011871419
In this article I investigate whether bank ownership affects the credit channel of monetary policy by looking at the Turkish banking sector from the period 2006 to 2010. I analyze whether public banks, foreign banks, and private banks respond differently to changes in monetary policy by looking...
Persistent link: https://www.econbiz.de/10010883598
The interplay between banks and the macroeconomy is of key importance for financial and economic stability. We analyze this link using a Factor Augmented Vector Autoregressive Model (FAVAR) which extends a standard VAR for the U.S. macroeconomy with a set of factors summarizing conditions in the...
Persistent link: https://www.econbiz.de/10010270276
The extent to which a central bank can choose and implement appropriate monetary, financial stability and payment system policies varies considerably across countries. In the transitional economies, expertise formed one serious constraint in the early years. Not only was expertise scarce in the...
Persistent link: https://www.econbiz.de/10005486391
In most countries, central banks are responsible for financial stability as well as monetary policy and the national or wholesale payment systems. In the transitional economies, rapid transformation from a monobanking system into a two-tier banking system produces casualties, instabilit and...
Persistent link: https://www.econbiz.de/10005639059
In most countries, central banks are responsible for monetary policy, financial stability and the national or wholesale payment systems. If price stability accelerates economic growth, as much recent empirical work suggests, then a central bank can promote economic development by delivering...
Persistent link: https://www.econbiz.de/10005639063