Search Results - subject:"FINANCIAL LIBERALIZATION"

Sovereign default, domestic banks and financial institutions

Gennaioli, Nicola; Martin, Alberto; Rossi, Stefano - Department of Economics and Business, Universitat … - 2009

We present a model of sovereign debt in which, contrary to conventional wisdom, government defaults are costly because they destroy the balance sheets of domestic banks. In our model, better financial institutions allow banks to be more leveraged, thereby making them more vulnerable to sovereign...

Persistent link: https://www.econbiz.de/10005103305

The Effect of Equity Market Integration on the Transmission Monetary Policy. Evidence from Australia

Alcidi, Cinzia - International Economics Section, The Graduate Institute … - 2009

This paper investigates the effects of equity market integration on the transmission of monetary policy shocks. Based on the assumption that financial market liberalization and integration lead to falling portfolio holding costs, we analyze its effect on a two-country DSGE model with staggered...

Persistent link: https://www.econbiz.de/10005052107

Lessons for China from Financial Liberalization in Scandinavia

Chen, Hongyi; Jonung, Lars; Unteroberdoerster, Olaf - Hong Kong Institute for Monetary Research (HKIMR), … - 2009

This report identifies a set of policy lessons for China today drawn from the experience of financial deregulation, financial crisis and recovery in Scandinavia during the period 1985-2000. Although there are considerable differences between the huge Chinese economy and the small Nordic...

Persistent link: https://www.econbiz.de/10005064046

FINANCIAL LIBERALIZATION AND THE AID GROWTH RELATIONSHIP IN INDIA

Ang, James B. - Department of Econometrics and Business Statistics, … - 2009

degree of financial liberalization. A composite index is constructed using the method of principal component analysis to … negative influence on output expansion, its indirect effect via financial liberalization is positive. Therefore, an important …

Persistent link: https://www.econbiz.de/10005064191

Private Saving in India and Malaysia Compared: The Role of Financial Liberalization and Expected Pension Benefits

Ang, James; Sen, Kumal - Volkswirtschaftliche Fakultät, … - 2009

support for the hypothesis that financial liberalization results in lower private saving in both countries. The evidence also …

Persistent link: https://www.econbiz.de/10005620174

Financial Liberalization and the Aid-Growth Relationship in India

James, Ang - Volkswirtschaftliche Fakultät, … - 2009

degree of financial liberalization. A composite index is constructed using the method of principal component analysis to … aid exerts a direct negative influence on output expansion, its indirect effect via financial liberalization is positive …

Persistent link: https://www.econbiz.de/10005623432

Financial Stability Frameworks and the Role of Central Banks; Lessons From the Crisis

Nier, Erlend - International Monetary Fund (IMF) - 2009

This paper sets out general principles for the design of financial stability frameworks, starting from an analysis of the objectives and tools of financial regulation. The paper then offers a comprehensive analysis of the costs and benefits of the two main models that have emerged for modern...

Persistent link: https://www.econbiz.de/10005826017

Financial Liberalization and Income Inequality

Ang, James - Volkswirtschaftliche Fakultät, … - 2009

This paper examines the causal relationship between financial liberalization and income inequality using India as a … case study. The results indicate that there exists a robust long-run relationship between financial liberalization and …

Persistent link: https://www.econbiz.de/10005835574

The Saving-Investment Dynamics And Financial Sector Reforms in India

Ang, James - Volkswirtschaftliche Fakultät, … - 2009

of financial liberalization affects the saving-investment relationship remains unclear. This paper examines the dynamic … relationship between the domestic saving and investment rates in India by controlling for the level of financial liberalization …. Using data over the period 1950-2005, the results indicate that greater financial liberalization enables more domestic …

Persistent link: https://www.econbiz.de/10005835774

Financial Liberalization Or Repression?

Ang, James - Volkswirtschaftliche Fakultät, … - 2009

While financial liberalization has always been advocated in developing countries, experiences with it do not always … produce desirable outcomes. In order to evaluate the costs and benefits associated with financial liberalization and …

Persistent link: https://www.econbiz.de/10005836862