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Transparency, Liberalization, and Banking Crisis

Kaufmann, Daniel; Mehrez, Gil - 2000

The authors investigate how transparency affects the probability of a financial crisis. They construct a model in which banks cannot distinguish between aggregate shocks and government policy, on the one hand, and firm' quality, on the other. Banks may therefore overestimate firms' returns and...

Persistent link: https://www.econbiz.de/10012572727

Credit Conditions and Foreign Direct Investment During the Global Financial Crisis

Desbordes, Rodolphe; Wei, Shang-jin - 2014

This paper investigates the effect that tight credit conditions had on outward foreign direct investment flows during the 2008-2010 global financial crisis. A difference-in-differences approach is used to isolate a "credit channel" impact of the global financial crisis on foreign direct...

Persistent link: https://www.econbiz.de/10012572225

The Creative Wealth of Nations : How the Performing Arts Can Advance Development and Human Progress

Kabanda, Patrick - 2014

cultural sector a crucial part of the wealth of nations, and how could the World Bank Group better leverage the performing arts … place in the architecture of development strategy. The performing arts, discussed here, exhibit direct effects on social … in its development strategy? This discussion provides a broad snapshot, from arts education, to social inclusion, to …

Persistent link: https://www.econbiz.de/10012572112

Gross Inflows Gone Wild : Gross Capital Inflows, Credit Booms and Crises

Calderón, César A.; Kubota, Megumi - 2013

The main goal of the paper is to examine whether surges in private capital inflows lead to credit booms. The authors built a quarterly database on gross capital inflows, credit to the private sector, and other macro-financial indicators for a sample of 71 countries from 1975q1 to 2010q4....

Persistent link: https://www.econbiz.de/10012557142

Foreign Banks and International Transmission of Monetary Policy : Evidence from the Syndicated Loan Market

Demirguc-Kunt, Asli; Horváth, Bálint L.; Huizinga, Harry - 2017

This paper uses loan-level data from 124 countries over 1995–2015 to examine the transmission of monetary policy through the cross-border syndicated loan market. The results show that the expansion of monetary policy increases cross-border credit supply especially to weaker firms. However,...

Persistent link: https://www.econbiz.de/10012570620

Unconventional Monetary Policy Normalization in High-Income Countries : Implications for Emerging Market Capital Flows and Crisis Risks

Burns, Andrew; Kida, Mizuho; Lim, Jamus Jerome; … - 2014

As the recovery in high-income countries firms amid a gradual withdrawal of extraordinary monetary stimulus, developing countries can expect stronger demand for their exports as global trade regains momentum, but also rising interest rates and potentially weaker capital inflows. This paper...

Persistent link: https://www.econbiz.de/10012573499

Are All the Sacred Cows Dead? Implications of the Financial Crisis for Macro and Financial Policies

Demirg????-Kunt, Asli; Serv??n, Luis - 2012

The recent global financial crisis has shaken the confidence of developed and developing countries alike in the very blueprint of financial and macro policies that underlie the western capitalist systems. In an effort to contain the crisis from spreading, the authorities in the US and many...

Persistent link: https://www.econbiz.de/10012551737

Monetary Policy, Structural Break, and the Monetary Transmission Mechanism in Thailand

Hesse, Heiko - 2012

The paper studies monetary policy and the monetary transmission mechanism in Thailand in light of the Asian crisis in 1997. Existing studies that adopt structural vector auto-regression (VAR) approaches do not give a clear and agreed-upon view how monetary shocks are transmitted to the Thai...

Persistent link: https://www.econbiz.de/10012552696

Financial Globalization in Emerging Countries : Diversification vs. Offshoring

Ceballos, Francisco; Didier, Tatiana; Schmukler, Sergio L. - 2012

transactions take place. The authors find that globalization via the diversification channel expanded throughout the world during …

Persistent link: https://www.econbiz.de/10012554536

Finance and Macroeconomic Volatility

Denizer, Cevdet A.; Iyigun, Murat; Owen, Ann L. - 2000

Countries with more developed financial sectors, experience fewer fluctuations in real per capita output, consumption, and investment growth. But the manner in which the financial sector develops matters. The relative importance of banks in the financial system is important in explaining...

Persistent link: https://www.econbiz.de/10012572873