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Financial openness and growth: short-run gain, long-run pain?
Fratzscher, Marcel; Bussière, Matthieu - 2004
liberalisation, but may not grow faster or even experience temporary growth reversals in the medium- to long-term. The paper finds … economies. The acceleration of growth immediately after liberalisation is found to be often driven by an investment boom and a … sequencing of the liberalisation process are found to be important driving forces for growth in the medium to longer term. …
Persistent link: https://www.econbiz.de/10011604394
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Determinants of FDI inflows in advanced economies: Does the quality of economic structures matter?
Dellis, Konstantinos; Sondermann, David; Vansteenkiste, … - 2017
This paper investigates the role of economic structures as determinants of FDI inflows. We expand on the existing literature by focusing on advanced economies, using a newly available measure of FDI which cleans the data from statistical artefacts, such as financial round tripping, and by...
Persistent link: https://www.econbiz.de/10011804381
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Product market regulation, business churning and productivity: Evidence from the European Union countries
Anderton, Bob; Di Lupidio, Benedetta; Jarmulska, Barbara - 2019
Productivity performance in European countries has been a policy concern for some time. This paper shows that productivity can be enhanced by product market policies which, by increasing competition and efficiency, facilitate higher rates of firms' entry and exit (i.e., firm churning). Drawing...
Persistent link: https://www.econbiz.de/10012389535
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Cooperation in international banking supervision
Holthausen, Cornelia; Rønde, Thomas - 2004
This paper analyzes cooperation between sovereign national authorities in the supervision and regulation of a multinational bank. We take a political economy approach to regulation and assume that supervisors maximize the welfare of their own country. The communication between the supervisors is...
Persistent link: https://www.econbiz.de/10011604362
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Institutions and service employment: a panel study for OECD countries
Messina, Julián - 2004
We live in a service economy, but the extent of development of service employment differs across developed countries. This paper assesses the role of structural factors and institutions in explaining the common patterns and main di?erences in the recent expansion of service employment in OECD...
Persistent link: https://www.econbiz.de/10011604366
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Regulation of multinational banks: a theoretical inquiry
Calzolari, Giacomo; Loranth, Gyongyi - 2005
This paper examines prudential regulation of a multinational bank (MNB hereafter) and shows how regulatory intervention depends on the liability structure and insurance arrangements for non local depositors (i.e. on the representation form for foreign units). Shared liability among the MNB’s...
Persistent link: https://www.econbiz.de/10011604477
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Optimal supervisory architecture and financial integration in a banking union
Colliard, Jean-Edouard - 2015
Both in the United States and in the Euro area, bank supervision is the joint responsibility of local and central/federal supervisors. I study how such a system can optimally balance the lower inspection costs of local supervisors with the ability of the central level to internalize cross-border...
Persistent link: https://www.econbiz.de/10011605831
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Bank bailouts and competition - Did TARP distort competition among sound banks?
Koetter, Michael; Noth, Felix - 2015
This study investigates if the Troubled Asset Relief Program (TARP) distorted price competition in U.S. banking. Political indicators reveal bailout expectations after 2009, manifested as beliefs about the predicted probability of receiving equity support relative to failing during the TARP...
Persistent link: https://www.econbiz.de/10011605849
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Inside asset purchase programs: the effects of unconventional policy on banking competition
Koetter, Michael; Podlich, Natalia; Wedow, Michael - 2017
We test if unconventional monetary policy instruments influence the competitive conduct of banks. Between q2:2010 and q1:2012, the ECB absorbed €218 billion worth of government securities from five EMU countries under the Securities Markets Programme (SMP). Using detailed security holdings...
Persistent link: https://www.econbiz.de/10011606062
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Pricing payment cards
Bedre-Defolie, Özlem; Calvano, Emilio - 2009
In a payment card association such as Visa, each time a consumer pays by card, the bank of the merchant (acquirer) pays an interchange fee (IF) to the bank of the cardholder (issuer) to carry out the transaction. This paper studies the determinants of socially and privately optimal IFs in a card...
Persistent link: https://www.econbiz.de/10011605185