Showing 1 - 10 of 18
A model is presented where the question of bank regulation is developed under a principal-agent scenario in a regime where the regulator has limited resources and banks may have an incentive to act ultra virus the regulatory standards. If banks are subject to random audit, then compliance is...
Persistent link: https://www.econbiz.de/10014223987
The aim is to review transition literature for evidence that supports sequential reform strategy, as presented in this report. The second part discusses the findings in the context of Azerbaijan, a formerly socialist transition economy with interesting initial conditions. Evidence of the...
Persistent link: https://www.econbiz.de/10012721191
The macro economic stabilisation in Azerbaijan has been successful. Following cessation of conflict with Armenia, and decline of GDP by 60 per cent from 1990 to 1995, the government in effect implemented a big-bang reform process in 1995. The inflation rate has now declined to the lowest rate of...
Persistent link: https://www.econbiz.de/10012709288
This paper examines the effect of banking on economic growth in modern Russia. To overcome simultaneity and selection, we exploit regional banking variation induced by the creation of 'specialized banks' (spetsbanks) in the last years of the Soviet Union (1988-1991). Consistent with the...
Persistent link: https://www.econbiz.de/10013107117
Enterprises in post-socialist and transition economies often participate in providing infrastructure and social services to the surrounding community. We argue that this bundling of social and infrastructure goods provision with an enterprise's core operations is a fully rational choice in an...
Persistent link: https://www.econbiz.de/10013155528
Straightforward exchange rate arrangements known as currency boards have gained popularity during the past dec-ade. Among transition economies, Estonia first introduced a currency board in 1992, followed by Lithuania in 1994 and Bulgaria in 1997. Currency boards have been useful in achieving...
Persistent link: https://www.econbiz.de/10014223979
This study compares transition processes in countries of Central and Eastern Europe, the former Soviet Union (FSU) and sub-Saharan Africa. By widening the scope from most- to least-developed transition economies, the study establishes the importance of a strong state with evolved institutional...
Persistent link: https://www.econbiz.de/10014108864
The purpose of this paper is to ascertain how wages are being determined in China during the reform period. The paper focuses on the development of the regulatory framework since 1978 and proceeds by examining official regulations regarding labor market institutions and wage setting, and by...
Persistent link: https://www.econbiz.de/10014144742
We analyze whether a depositor's familiarity with a bank affects depositor behavior during a financial crisis. Familiarity is measured by the presence of regional or local cues in the bank's name, while depositor behavior is considered in terms of depositor sensitivity to observable bank risk...
Persistent link: https://www.econbiz.de/10012963433
This paper investigates how government-led banking liberalization affects credit allocation by banks using as a quasi-natural experiment the establishment of city commercial banks (CCBs) in China. Based on more than three million corporate financial statements spanning over 16 years, we find...
Persistent link: https://www.econbiz.de/10013242810