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Understanding the Growth of African Financial Markets
Andrianaivo, Mihasonirina - 2009
This paper examines empirically the determinants of financial market development in Africa with an emphasis on banking … risk are the main determinants of banking sector development in Africa, and that stock market liquidity, domestic savings … liberalizing the capital account promotes financial market development only in countries with high incomes, wel …
Persistent link: https://www.econbiz.de/10012677837
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Institutional Inertia
Valderrama, Laura - 2009
We study the relative efficiency of outside-owned versus employee-owned firms and analyze implications for institutional change in a context of technological innovation. When decisions are made through majority voting, the vote on technology choice is used to influence the later vote on the...
Persistent link: https://www.econbiz.de/10012677861
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Capital Requirements for Over-the-Counter Derivatives Central Counterparties
Lin, Li; Surti, Jay - International Monetary Fund (IMF) - 2013
derivatives are globally systemic. Employing methodologies similar to the calculation of banks’ capital requirements against … trading book exposures, this paper assesses the sensitivity of central counterparties’ required risk buffers, or capital … central counterparties’ risk buffers, in line with recent enhancements to the capital regime for banks. …
Persistent link: https://www.econbiz.de/10011142162
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The Redistributive Effects of Financial Deregulation
Korinek, Anton; Kreamer, Jonathan - International Monetary Fund (IMF) - 2013
Financial regulation is often framed as a question of economic efficiency. This paper, by contrast, puts the distributive implications of financial regulation center stage. We develop a model in which the financial sector benefits from risk-taking by earning greater expected returns. However,...
Persistent link: https://www.econbiz.de/10010790433
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Unanticipated Shocks and Systemic Influences; The Impact of Contagion in Global Equity Markets in 1998
González-Hermosillo, Brenda; Martin, Vance; Fry, Renee; … - International Monetary Fund (IMF) - 2003
August to September 1998 has been characterized as one of the worst episodes of global financial distress in decades. This paper investigates the transmission of the Russian and the LTCM crises through global equity markets using a panel of 14 developing and industrial countries. The results...
Persistent link: https://www.econbiz.de/10005769188
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The Role of Subordinated Debt in Market Discipline; The Case of Emerging Markets
Karacadag, Cem; Shrivastava, Animesh - International Monetary Fund (IMF) - 2000
liquid and “clean” capital markets—are evaluated. We find that emerging markets do not satisfy the preconditions for the …
Persistent link: https://www.econbiz.de/10005599477
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Measuring off-Balance-Sheet Leverage
Breuer, Peter - International Monetary Fund (IMF) - 2000
presented. The interaction between leverage and risk is discussed, and a modified capital adequacy ratio is calculated, which …
Persistent link: https://www.econbiz.de/10005263810
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Macroprudential Regulation Under Repo Funding
Valderrama, Laura - International Monetary Fund (IMF) - 2010
The use of collateral has become one of the most widespread risk mitigation techniques. While it brings stabilizing effects to the individual lender we argue that it may exacerbate systemic risk through margin call activation. We show how a liquidity shock to the cash lender may propagate as a...
Persistent link: https://www.econbiz.de/10008671292
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Can Digitalization Help Deter Corruption in Africa?
Ouedraogo, Rasmane - 2020
This paper studies the effect of digitalization on the perception of corruption and trust in tax officials in Africa …
Persistent link: https://www.econbiz.de/10014408790
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Africa's Oil Abundance and External Competitiveness : Do Institutions Matter?
Qureshi, Mahvash - 2008
This paper examines the structural competitiveness of oil-rich economies in sub-Saharan Africa relative to other major … across these economies. The analysis reveals that oil-rich Africa lags behind other oil-exporters in terms of diversification …
Persistent link: https://www.econbiz.de/10014409041