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Financial development, exchange rate fluctuations, and debt dollarization : a firm-level evidence

Kim, Minsuk - 2019

that financial development, measured by the private credit-to-GDP ratio, mainly reduces the influence of exchange rate … volatility becomes statistically insignificant beyond an estimated threshold credit-to-GDP ratio of 100 percent …

Persistent link: https://www.econbiz.de/10012102196

How should credit gaps be measured? : an application to European countries

Baba, Chikako; Dell'Erba, Salvatore; Detragiache, Enrica; … - 2020

Assessing when credit is excessive is important to understand macro-financial vulnerabilities and guide macroprudential … policy. The Basel Credit Gap (BCG) - the deviation of the credit-to-GDP ratio from its long-term trend estimated with a one … warning of banking crises. However, for a number of European countries this indicator implausibly suggests that credit should …

Persistent link: https://www.econbiz.de/10012170099

Equity Returns in the Banking Sector in the Wake of the Great Recession and the European Sovereign Debt Crisis

Chan-Lau, Jorge A. - 2012

This study finds that equity returns in the banking sector in the wake of the Great Recession and the European sovereign debt crisis have been driven mainly by weak growth prospects and heightened sovereign risk and to a lesser extent, by deteriorating funding conditions and investor sentiment....

Persistent link: https://www.econbiz.de/10014412154

International capital flows at the security level : evidence from the ECB's Asset Purchase Programme

Bergant, Katharina; Fidora, Michael; Schmitz, Martin - 2020

We analyse euro area investors' portfolio rebalancing during the ECB's Asset Purchase Programme at the security level. Our empirical analysis shows that euro area investors (in particular investment funds and households) actively rebalanced away from securities targeted under the Public Sector...

Persistent link: https://www.econbiz.de/10012251289

Determinants of Credit Growth and Interest Margins in the Philippines and Asia

Tan, Tatum Blaise Pua - 2012

Despite robust deposit growth, credit growth has been sluggish in the Philippines. We attribute this to legacy …

Persistent link: https://www.econbiz.de/10014396582

Determinants of credit growth and interest margins in the Philippines and Asia

Tan, Tatum Blaise Pua - 2012

Persistent link: https://www.econbiz.de/10009614958

Revisiting the Concept of Dollarization: The Global Financial Crisis and Dollarization in Low-Income Countries

2015 - Mwase, Nkunde ; Kumah, Francis Y. ed

The economic literature has examined deposit dollarization in nominal terms, typically focusing on the ratio of foreign currency deposits to broad money. However, while private agent demand for foreign currency may remain unchanged in foreign currency terms, there could be large fluctuations in...

Persistent link: https://www.econbiz.de/10014411923

Dollarization in Lebanon

Mueller, Johannes - 1994

The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and...

Persistent link: https://www.econbiz.de/10014395981

Dollarization in Transition Economies : Evidence and Policy Implications

Végh Gramont, Carlos A. - 1995

After most restrictions on foreign currency holdings were relaxed in the early 1990s, foreign currency deposits in transition economies have been increasing rapidly. This paper takes a first look at the evidence on dollarization for 15 transition economies, and then discusses some key conceptual...

Persistent link: https://www.econbiz.de/10014396026

Dollarization in Latin America : Recent Evidence and Some Policy Issues

Savastano, Miguel A. - 1996

This paper examines the pattern of dollarization in Latin America, focusing on the experience of five countries (Argentina, Bolivia, Mexico, Peru and Uruguay) during 1970-1993. It presents evidence on the relative size of dollarization, the allocation of foreign currency deposits, and the...

Persistent link: https://www.econbiz.de/10014398631