Introducción:El estudio que se presenta a continuación responde a la formulación de una propuesta encaminada a evaluar la posibilidad de implementar un programa de fomento a la demanda de vivienda a través del instrumento de subsidio a las tasas de interés de los créditos hipotecarios de...

We develop an infinite horizon equilibrium model in which banks finance long term assets with non-tradable debt. Banks choose the amount of debt and its maturity taking into account investors’ preference for short maturities (which better accommodate their preference shocks) and the risk of...

The financing of agricultural producers is one of the most acute problems along the entire scope of economic reforms in Kazakhstan. The issue is: What kind of financial sources could maintain the development of agricultural production? Internal sources such as profit, depreciation capital, and...

Abstract After emerging from the U.S. real estate and financial markets, financial crisis has gradually become global. Due to both primary and secondary mortgage market problems in the U.S. are accepted as the essential reasons of the current crisis, it is believed that financial markets and...

The paper reviews the concepts of system dynamics and its applications to the simulation modeling of financial institutions daily activity. While widely applicable, the approach is of a particular interest in transitional and developing economies. The hybrid method of banking business processes...

By using data from thirteen publicly traded commercial and deposit banks this paper estimates the determinants of market risk for bank equities in the case of an emerging market setting, Turkey. The analysis reveals that maturity composition of a bank’s loans, the share of trading income in a...

We use an innovative methodology to analyze social responsibility in double bottom line institutions such as microfinance institutions. We provide empirical evidence on the distribution of the generated surplus between the key stakeholders of one of the most famous MFIs worldwide: Banco...

In light of the recent financial and economic crisis the present paper analyzes the determinants of loan default. We employ a unique firm-level panel data of 700 bank loans given to small and medium sized enterprises in Slovakia between 2000 and 2005 to investigate three loan default hypothesis....

We demonstrate improvements in predictive power when introducing spline functions to take account of highly non-linear relationships between firm failure and earnings, leverage, and liquidity in a logistic bankruptcy model. Our results show that modeling excessive non-linearities yields...