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This paper investigates whether there is any consistency between banks' financial strength ratings (bank rating) and their risk-return profiles. It is expected that banks with high ratings tend to earn high expected returns for the risks they assume and thereby have a low probability of...
Persistent link: https://www.econbiz.de/10010286128
The failure to spot emerging systemic risk and prevent the current global financial crisis warrants a reexamination of the approach taken so far to crisis prevention. The paper argues that financial crises can be prevented, as they build up over time due to policy mistakes and eventually erupt...
Persistent link: https://www.econbiz.de/10010286137
This paper extends our previous paper (Aizenman, Chinn, and Ito 2008) and explores some of the unexplored questions. First, we examine the channels through which the trilemma policy configurations affect output volatility. Secondly, we investigate how trilemma policy configurations affect the...
Persistent link: https://www.econbiz.de/10010286160
The recent financial crisis has shown that financial innovation can have devastating systemic impacts. International standard setters' and national regulators' response has been a global concerted effort to overhaul and tighten financial regulations. However, at a time of designing stricter...
Persistent link: https://www.econbiz.de/10010286171
Some services directly produce outputs that are important for human development, such as basic human services. Many other services are important inputs into the production and distribution of goods that are necessary for human development purposes. A more efficient services sector should mean...
Persistent link: https://www.econbiz.de/10010286182
In this paper we critically review the relevant information and literature that can enhance the feasibility and the successful implementation of cross-border infrastructure projects. We provide detailed information concerning foreign direct investment in the major emerging regions: East Asia and...
Persistent link: https://www.econbiz.de/10010286183
governance will also require changes in key global organizations - such as the International Monetary Fund, World Bank, World … with overlapping ownership structures in various functional areas (as is already the case with the World Bank and regional …
Persistent link: https://www.econbiz.de/10010286186
This paper seeks to add to the current debate about financial development and growth in the emerging world by looking … may be more fruitful for today's emerging world to concentrate more on addressing the needs of savers and borrowers in … each individual system. A major lesson for the emerging world from past financial development is that there are risks …
Persistent link: https://www.econbiz.de/10010286191
In 2008 - 09 the world experienced the most severe financial and economic crisis since the Great Depression. The global …
Persistent link: https://www.econbiz.de/10010286192
This brief by Yeva Nersisyan and Senior Scholar L. Randall Wray argues that deficits do not burden future generations with debt, nor do they crowd out private spending. The authors base their conclusions on the premise that a sovereign nation with its own currency cannot become insolvent, and...
Persistent link: https://www.econbiz.de/10010286207