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Political Volatility and Capital Markets: Evidence from Transition
Hartwell, Christopher - HKUST Institute for Emerging Market Studies (IEMS), … - 2015
This paper looks at the effects of political volatility in transition economies to ascertain how nascent political … institutions affect fledgling capital markets. Asymmetric (GJR) GARCH modeling of monthly data was taken for 21 transition … transition. The key implication from these results is that political stability needs to be tended to both in the formal realm and …
Persistent link: https://www.econbiz.de/10011266148
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The impact of institutional volatility on financial volatility in transition economies: a GARCH family approach
Hartwell, Christopher A. - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2014
The volatility of financial markets has been a relevant topic for transition economies, as the countries of Central and … the transition process. But what have been the determinants of this financial volatility? This paper posits that … volatility in transition. Examining 20 transition economies over various time-frames within the period 1993–2012, this paper …
Persistent link: https://www.econbiz.de/10010752334
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Choice of the substitution currency in Russia: How to explain the dollar's dominance?
Dorbec, Anna - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2005
The analysis of external economic relations of Russia reveals a paradox: while Europe is the main trade and direct investment partner of Russia, this is far from being the case concerning its currency’s role in Russia's financial activities. The dollar is much preferred by economic agents for...
Persistent link: https://www.econbiz.de/10005419597
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Drivers and obstacles to banking SMEs : the role of competition and the institutional framework
de la Torre, Augusto; Martínez Pería, María Soledad; … - 2009
Small and medium enterprises (SMEs) are important for employment and economic activity; however, they are perceived to …
Persistent link: https://www.econbiz.de/10010276834
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Sovereign risk and bank risk-taking
Ari, Anil - 2018
I propose a dynamic general equilibrium model in which strategic interactions between banks and depositors may lead to endogenous bank fragility and slow recovery from crises. When banks' investment decisions are not contractible, depositors form expectations about bank risk-taking and demand a...
Persistent link: https://www.econbiz.de/10011984856
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Gambling traps
Ari, Anil - 2018
I propose a dynamic general equilibrium model in which strategic interactions between banks and depositors may lead to endogenous bank fragility and slow recovery from crises. When banks' investment decisions are not contractible, depositors form expectations about bank risk-taking and demand a...
Persistent link: https://www.econbiz.de/10012142061
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Adverse selection and financing of innovation: is there a need for R&D subsidies?
Takalo, Tuomas; Tanayama, Tanja - 2008
We study the interaction between private and public funding of innovative projects in the presence of adverse-selection based financing constraints. Government programmes allocating direct subsidies are based on ex-ante screening of the subsidy applications. This selection scheme may yield...
Persistent link: https://www.econbiz.de/10012148041
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Finance, gender, and entrepreneurship: India’s informal sector firms
Gang, Ira N.; Natarajan, Rajesh Raj; Sen, Kunal - 2020
How does informal economic activity respond to increased financial inclusion? Does it become more entrepreneurial? Does access to new financing options change the gender configuration of informal economic activity and, if so, in what ways and what directions? We take advantage of nationwide data...
Persistent link: https://www.econbiz.de/10012308832
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Finance, Gender, and Entrepreneurship: India's Informal Sector Firms
Gang, Ira N.; Natarajan, Rajesh Raj; Sen, Kunal - 2020
How does informal economic activity respond to increased financial inclusion? Does it become more entrepreneurial? Does access to new financing options change the gender configuration of informal economic activity and, if so, in what ways and what directions? We take advantage of nationwide data...
Persistent link: https://www.econbiz.de/10012322653
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Finance, gender, and entrepreneurship: India's informal sector firms
Gang, Ira N.; Natarajan, Rajesh Raj; Sen, Kunal - 2020
How does informal economic activity respond to increased financial inclusion? Does it become more entrepreneurial? Does access to new financing options change the gender configuration of informal economic activity and, if so, in what ways and what directions? We take advantage of nationwide data...
Persistent link: https://www.econbiz.de/10012424131