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This paper addresses the macroeconomic impact of international financial integration. I first provide empirical evidence that foreign banking penetration can be associated with a contraction of banking credit, especially in countries with poor credit markets. Second I present a model in which...
Persistent link: https://www.econbiz.de/10004998820
for financial markets that led to liquidity fragmentation and the privatization of market information. Drawing from …
Persistent link: https://www.econbiz.de/10008690919
In this paper, we use the segmented conditional ICAPM (International Capital Asset Pricing Model) to study the emerging stock markets integration. To address this issue, we apply the asymmetric multivariate version of GARCH-BEKK with structural break of the variance. It allows to specify the...
Persistent link: https://www.econbiz.de/10008556924
Privatization is an old phenomenon but with important changes for the ten last years. According to the movement …
Persistent link: https://www.econbiz.de/10009002743
Vietnam accession to WTO has been officially confirmed 11 January 2007. If markets opening can introduce higher international competition, it will foster the reform of the banking sector.
Persistent link: https://www.econbiz.de/10015222083
L’épineux problème d’interaction négative entre crise de la dette souveraine et crise bancaire au niveau national empêche une transmission efficace des effets de la politique monétaire unique et menace l’existence même de la zone euro. En réponse à la crise de l’euro et après...
Persistent link: https://www.econbiz.de/10015235105
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show that other institutional factors like (independent) regulation, privatization (taken twice) and the sequence of …
Persistent link: https://www.econbiz.de/10015224787