This study investigates the direct link between the implementation of the 1988 Basel capital requirement in Japan and the shrinkage of banks' foreign assets, particularly in Thailand in the 1990s. The empirical analysis proceeds in two stages. The first stage investigates the hypothesis that the...

L’objectif de l’article est d’analyser le comportement des investisseurs a l’egard du risque pays en tant que declencheur des crises financieres et facteur de contagion a l’occasion de la crise asiatique. La contagion a-t-elle touche des pays proches sur le plan des fondamentaux...

The overly accommodating monetary policy is often accused of creating surplus liquidity and bubbles on the asset markets. In particular, it could have contributed to strong capital inflows in emerging countries, which may have had a significant impact on financial stability in these countries,...

Reposant sur une base de données unique totalisant près de 4000 prêts provenant de 33 institutions de microfinance (IMF) localisées sur la région Aquitaine, cet article poursuit trois objectifs : identifier les IMF opérant sur le territoire aquitain, évaluer à quels besoins celles-ci...

The overly accommodating monetary policy is often accused of creating surplus liquidity and bubbles on the asset markets. In particular, it could have contributed to strong capital inflows in emerging countries, which may have had a significant impact on financial stability in these countries,...

This article investigates the impacts of both external factors and domestic fundamentals on the evolution of capital inflows with a panel of four Asian countries over the 1990-2007 period. The objective is to test contagion variables, as defined by Masson (1999), as push factors in order to...

We have drawn on portfolio theory and international diversification in order to analyse strategies that help reduce emerging economy exposure to exchange-rate risk. We show that it may be efficient for an investor, by taking into account the several components of the global risk, to build up a...

The expansion of global liquidity, resulting from the unconventional monetary policies implemented by the major Central Banks over the past several years, has contributed to the debate on the cross-border impact of those measures. This paper examines the impact of global excess liquidity on...

The Central and Eastern European countries have used since the beginning of the transition of many monetary and exchange rate strategies to fight against inflation. One can find the full spectrum of regimes, from free floating, currency board, monetary anchors, inflation targeting, through...