This paper reviews and critically comments on the policy debate surrounding China's exchange rate regime. There are presently two key issues - firstly, whether the RMB has become significantly undervalued, and secondly, whether China would benefit from adopting a flexible exchange rate regime....

The purpose of the study is to determine the effect of regulation status of MFIs on their financial performance and outreach. To find results, we used dataset of 413 MFIs over 21 Latin American Countries for the year 2005-2017. Using GMM, we found that regulated MFIs are more concerned for...

This study attempts to determine whether MFIs can achieve financial sustainability while instantaneously reaching to the poorest to render financial services. To deal with methodological issues in previous studies due to the use of OLS, we used generalized method of moment (GMM) technique that...

A tanulmány célja annak megállapítása, hogy a mikrohitelező szervezetek szabályozottsága milyen hatást gyakorol a szervezetek pénzügyi teljesítményére és az ügyfelek elérésére. Eredményeink 21 latin-amerikai ország 413 mikrohitelező szervezetének a 2005–2017 közötti...

A tanulmány célja annak megállapítása, hogy a mikrofinanszírozó szervezetek meg tudják-e teremteni a fenntarthatóságot pénzügyi téren azáltal, hogy pénzügyi szolgáltatásokat nyújtanak a legszegényebbeknek. A korábbi tanulmányokban a legkisebb négyzetek módszerének (OLS)...

This paper studies the quality of management of acquiring firms as an important determinant of merger and acquisition (M&A) success. We model management practices as an unobserved (latent) variable in a standard microeconomic model of the firm and derive firm-year management estimates therefrom....

Does population aging affect bank lending? To answer this question we exploit geographic variation in population aging across U.S. counties to provide the first evidence on its impact on bank risk-taking. We find that banks more exposed to aging counties experience deposit inflows due to...

Corporate taxation can have redistributive effects on income and wealth. We hypothesize and empirically establish such an effect working via bank credit. Using a unique sample of majority-owned firms that apply for credit, we show that after a decrease in corporate tax rates the relative-ly poor...

This paper employs a vector autoregressive (VAR) model that nests neural networks and uses Mixed Data Sampling (MIDAS) techniques. We use data information related to COVID-19, financial markets, and household finances. In this paper, we investigate whether COVID-19 impacts household finances,...

Ownership and competition in the banking sector are policy concerns around the world that are rarely comprehensively examined. For 131 countries and 13 years we match bank ownership with over 50,000 bank-year estimates of individual bank market power. At the individual bank level, ownership does...