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International Capital Mobility: Which Structural Policies Reduce Financial Fragility?
Ahrend, Rudiger; Goujard, Antoine; Schwellnus, Cyrille - Economics Department, Organisation de Coopération et … - 2012
integration has been a major vector of contagion, and even more so when cross-border bank lending was primarily short …-term. Vulnerability to contagion has been lower when global liquidity has been abundant, underlining the importance of major central banks …, typically through their effects on the composition of the external financial account or on the vulnerability to contagion …
Persistent link: https://www.econbiz.de/10011276720
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Financial Integration in Asia : A Medium-Term Agenda
Takagi, Shinji - East Asian Bureau of Economic Research (EABER) - 2009
Asia is a region whose financial integration has not kept pace with real integration. Asias relative financial isolation has limited its exposure to the direct fallout of the global financial crisis (though it did not prevent trade links from exerting severe contractionary impact). Does this...
Persistent link: https://www.econbiz.de/10009363708
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Interdependence of NAFTA Capital Markets: A Minimum Variance Portfolio Approach
López-Herrera, Francisco; Roberto J.; Ortiz, Edgar - In: Panoeconomicus 61 (2014) 6, pp. 691-707
We estimate the long-run relationships among NAFTA capital market returns and then calculate the weights of a “time-varying minimum variance portfolio†that includes the Canadian, Mexican, and USA capital markets between March 2007 and March 2009, a period of intense turbulence in...
Persistent link: https://www.econbiz.de/10011134487
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Europe Needs More than a Capital Markets Union: Focus on the Integration of Euro Area Sovereign Debt Markets
Breitenfellner, Andreas; Schuberth, Helene - In: Vierteljahrshefte zur Wirtschaftsforschung 86 (2017) 2, pp. 9-20
With a view to establishing a Capital Markets Union (CMU), efforts to integrate (private) capital markets and private risk-sharing in the European Union are underway. However, the single (capital) market will be burdened by a perennial potential threat to sovereign bond market stability in the...
Persistent link: https://www.econbiz.de/10012054624
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Financial integration in Europe through the lens of composite indicators
Hoffmann, Peter; Kremer, Manfred; Zaharia, Sonia - 2019
This paper develops composite indicators of financial integration within the euro area for both price-based and quantity-based indicators covering money, bond, equity and banking markets. Prior to aggregation, individual integration indicators are harmonised by applying the probability integral...
Persistent link: https://www.econbiz.de/10012142163
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Europe needs more than a Capital Markets Union : focus on the integration of euro area sovereign debt markets
Breitenfellner, Andreas; Schuberth, Helene - In: Vierteljahrshefte zur Wirtschaftsforschung 86 (2017) 2, pp. 9-20
With a view to establishing a Capital Markets Union (CMU), efforts to integrate (private) capital markets and private risk-sharing in the European Union are underway. However, the single (capital) market will be burdened by a perennial potential threat to sovereign bond market stability in the...
Persistent link: https://www.econbiz.de/10012051172
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Financial integration in Europe through the lens of composite indicators
Hoffmann, Peter; Kremer, Manfred; Zaharia, Sonia - 2019
This paper develops composite indicators of financial integration within the euro area for both price-based and quantity-based indicators covering money, bond, equity and banking markets. Prior to aggregation, individual integration indicators are harmonised by applying the probability integral...
Persistent link: https://www.econbiz.de/10012104477
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Analysing interconnectivity among economies
Wong, Alfred Y-T.; Fong, Tom Pak Wing - In: Emerging Markets Review 12 (2011) 4, pp. 432-442
As international financial integration gathers pace, interconnectivity has increased tremendously among financial institutions, financial markets and financial systems, a phenomenon to which the recent global financial crisis perhaps provided the best testimony. The interconnectivity among...
Persistent link: https://www.econbiz.de/10010574586
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Interbank exposures: an empirical examination of systemic risk in the Belgian banking system
Degryse, Hans; Nguyen, Grégory - Nationale Bank van België/Banque national de Belqique (BNB) - 2004
interbank market is a potential important driving factor in the risk and impact of interbank contagion. We investigate the … evolution of contagion risk for the Belgian banking system over the period 1993-2002 using detailed information on aggregate … decreased the risk and impact of contagion. Moreover, an increase in the proportion of cross-border interbank assets has lowered …
Persistent link: https://www.econbiz.de/10005060026
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Interbank exposures: an empirical examination of systemic risk in the Belgian banking system
Degryse, Hans; Nguyen, Grégory - 2004
interbank market is a potential important driving factor in the risk and impact of interbank contagion. We investigate the … evolution of contagion risk for the Belgian banking system over the period 1993-2002 using detailed information on aggregate … decreased the risk and impact of contagion. Moreover, an increase in the proportion of cross-border interbank assets has lowered …
Persistent link: https://www.econbiz.de/10011506565