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Bank Fragility And International Capital Mobility
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Book Synopsis Bank Fragility and International Capital Mobility by : Ms.Enrica Detragiache
Download or read book Bank Fragility and International Capital Mobility written by Ms.Enrica Detragiache and published by International Monetary Fund. This book was released on 1999-08-01 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper examines the effects of increased financial integration on the economy and, specifically, the welfare of depositors and the business sector. A simple model of a small open economy with a fragile banking sector and imperfect capital mobility is developed. Increased international integration of the market for bank deposits makes runs on banks more likely and unambiguously hurts the domestic business sector. Depositors may gain or lose depending on the parameters. Even when depositors gain, the overall effect on the economy depends on the size of foreign assets held relative to the costs of bank crises.
Book Synopsis International Capital Mobility and Financial Fragility - Part 1. Drivers of Systemic Banking Crises by :
Download or read book International Capital Mobility and Financial Fragility - Part 1. Drivers of Systemic Banking Crises written by and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis International Capital Mobility and Financial Fragility - Part 4. Which Structural Policies Stabilise Capital Flows When Investors Suddenly Change Their Mind? by :
Download or read book International Capital Mobility and Financial Fragility - Part 4. Which Structural Policies Stabilise Capital Flows When Investors Suddenly Change Their Mind? written by and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Capital Flows and Financial Crises by : Miles Kahler
Download or read book Capital Flows and Financial Crises written by Miles Kahler and published by Manchester University Press. This book was released on 1998 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: Capital flows to the developing economies have long displayed a boom-and-bust pattern. However, rarely has the cycle turned as abruptly as it did in the 1990s, when the surges in lending were followed by the Mexican peso crisis of 1994-95, and the sudden collapse of currencies in Asia in 1997 and 1998. The volume maps an uncertain financial landscape in which volatile private capital flows and fragile banking systems produce sudden reversals of fortune for governments and economies. This environment creates dilemmas for both national policy-makers who confront the mixed blessing of capital inflows and the international institutions that manage the recurrent crises.
Book Synopsis International Capital Mobility and Financial Fragility - Part 3. How Do Structural Policies Affect Financial Crisis Risk? by :
Download or read book International Capital Mobility and Financial Fragility - Part 3. How Do Structural Policies Affect Financial Crisis Risk? written by and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis International Capital Mobility and Financial Fragility - Part 7. Enhancing Financial Stability by :
Download or read book International Capital Mobility and Financial Fragility - Part 7. Enhancing Financial Stability written by and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis International Capital Mobility and Financial Fragility - Part 5. Do Investors Disproportionately Shed Assets of Distant Countries Under Increased Uncertainty? by :
Download or read book International Capital Mobility and Financial Fragility - Part 5. Do Investors Disproportionately Shed Assets of Distant Countries Under Increased Uncertainty? written by and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis National, Regional and International Capital Markets by : Menzie David Chinn
Download or read book National, Regional and International Capital Markets written by Menzie David Chinn and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Interest rate based tests and savings-investment correlations disagree on the extent of capital mobility in Pacific Rim economies. The apparent success of several East Asian countries in sterilizing capital inflows has also fueled the controversy. This paper argues that previous studies examining money market rates may be misplacing their focus, since most lending is mediated through (sometimes regulated) banking systems. We forward a simple open- economy macro model, incorporating bank credit. Several predictions of the model are tested. Capital inflows are found to affect bank lending, in certain cases. Rapid expansion of bank lending in the previous two years is also associated with increases in the bank lending-interest rate spread, a proxy for risk. Finally, we assess whether bank lending is an important variable in determining changes in economic activity, specifically investment. The data suggest that the link between money and investment is weaker than the corresponding link involving bank credit.
Book Synopsis International Capital Mobility by : Rudiger Ahrend
Download or read book International Capital Mobility written by Rudiger Ahrend and published by . This book was released on 2012 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: The structure of a country's external liabilities, as well as the extent and nature of its international financial integration are key determinants of its vulnerability to financial crises. This is confirmed by new empirical analysis covering OECD and emerging economies over the past four decades. For example, a bias in gross external liabilities towards debt has raised crisis risk. The same holds for "currency mismatch" which refers to a situation where a country's foreign-currency denominated liabilities are large compared to its foreign-currency denominated assets. In addition, international banking integration has been a major vector of contagion, and even more so when cross-border bank lending was primarily short-term. Vulnerability to contagion has been lower when global liquidity has been abundant, underlining the importance of major central banks ensuring ample international liquidity at times of financial turmoil. Structural policies can increase financial stability, typically through their effects on the composition of the external financial account or on the vulnerability to contagion-induced financial shocks. Lower barriers on foreign direct investment and lower product market regulations have increased financial stability by shifting external liabilities from debt towards FDI. In contrast, tax systems that favour debt finance over equity finance have undermined stability by increasing the share of debt, including external debt, in corporate financing. Targeted capital controls on inflows from credit operations have reduced the impact of financial contagion, not least by shifting the structure of external liabilities. Stricter information disclosure rules or capital requirements, and strong supervisory authorities have also reduced countries' financial crisis risk.
Book Synopsis National, Regional, and International Capital Markets by : Menzie Chinn
Download or read book National, Regional, and International Capital Markets written by Menzie Chinn and published by . This book was released on 1995 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis International Capital Mobility and Financial Fragility - Part 6. Are All Forms of Financial Integration Equally Risky in Times of Financial Turmoil? by :
Download or read book International Capital Mobility and Financial Fragility - Part 6. Are All Forms of Financial Integration Equally Risky in Times of Financial Turmoil? written by and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book International Capital Mobility written by and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis International Lending in a Fragile World Economy by : D.E. Fair
Download or read book International Lending in a Fragile World Economy written by D.E. Fair and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Papers collected in this volume are those presented at the tenth Collo quium arranged by the Societe Universitaire Europeenne de Recherches Fi nancieres (SUERF), which took place in Vienna in April 1982. The Society is supported by a large number of central banks, commercial banks, and other financial and business institutions, as well as by academics and others interested in monetary and financial problems. Since its estab lishment in 1963 it has developed as a forum for the exchange of informa tion, research results and ideas, valued by academics and practitioners in these fields, induding central bank officials and civil servants responsible for formulating and applying monetary and financial policies. A major activity of SUERF is to organise and conduct Colloquia on sub jects of topical interest to members. The titles, places and dates of previous Colloquia for which volumes of the collected Papers were published are noted on page 421. Volumes were not issued for Colloquia held at Tar ragona, Spain in October 1970 under the title "Monetary Policy and New Developments in Banking" and at Strasbourg, France in January 1972 un der the title "Aspects of European Monetary Union."
Book Synopsis Exchange Rates and Financial Fragility by : Barry J. Eichengreen
Download or read book Exchange Rates and Financial Fragility written by Barry J. Eichengreen and published by . This book was released on 1999 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we analyze three views of the relationship between the exchange rate and financial fragility: (1) the moral hazard hypothesis, according to which pegged exchange rates offer implicit insurance against exchange risk and thereby encourage reckless borrowing and lending; (2) the original sin hypothesis, which emphasizes an incompleteness in financial markets which prevents the domestic currency from being used to borrow abroad or to borrow long term even domestically; and (3) the commitment problem hypothesis, which sees financial crises as resulting from neither moral hazard nor original sin but from the weakness of the institutions that address commitment problems. We examine the evidence on these hypotheses and draw out their implications for exchange-rate policy in emerging markets.
Book Synopsis Financial Fragility and Economic Performance in Developing Economies by : Marco Rossi
Download or read book Financial Fragility and Economic Performance in Developing Economies written by Marco Rossi and published by International Monetary Fund. This book was released on 1999-05 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the last two decades several developing economies have liberalized their domestic financial markets and eliminated current and capital controls and restrictions, though to various extent and at different speed. Starting with the work of McKinnon (1973) and Shaw (1973), and proceeding with that, among others, of King and Levine (1993), it is broadly accepted that financial liberalization, by fostering financial development, can increase economic performance.2 However, the banking crises of the 1980s and 1990s have pointed out the link between financial liberalization and financial fragility and the existence of a possible trade-off between the benefits of liberalization and the costs of increasing financial fragility, especially in developing markets.3 On these grounds, some have pointed out that, although there are clear benefits from moving away from a repressed financial system, it might not be optimal to pursue quick and extensive financial deregulation, especially at an early stage in the liberalization process when market institutions have not yet fully adjusted.4
Book Synopsis Capital Flows and Banking System Fragility by : Jorge Pazzi
Download or read book Capital Flows and Banking System Fragility written by Jorge Pazzi and published by . This book was released on 2006 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis International Capital Flows by : Martin Feldstein
Download or read book International Capital Flows written by Martin Feldstein and published by University of Chicago Press. This book was released on 2007-12-01 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent changes in technology, along with the opening up of many regions previously closed to investment, have led to explosive growth in the international movement of capital. Flows from foreign direct investment and debt and equity financing can bring countries substantial gains by augmenting local savings and by improving technology and incentives. Investing companies acquire market access, lower cost inputs, and opportunities for profitable introductions of production methods in the countries where they invest. But, as was underscored recently by the economic and financial crises in several Asian countries, capital flows can also bring risks. Although there is no simple explanation of the currency crisis in Asia, it is clear that fixed exchange rates and chronic deficits increased the likelihood of a breakdown. Similarly, during the 1970s, the United States and other industrial countries loaned OPEC surpluses to borrowers in Latin America. But when the U.S. Federal Reserve raised interest rates to control soaring inflation, the result was a widespread debt moratorium in Latin America as many countries throughout the region struggled to pay the high interest on their foreign loans. International Capital Flows contains recent work by eminent scholars and practitioners on the experience of capital flows to Latin America, Asia, and eastern Europe. These papers discuss the role of banks, equity markets, and foreign direct investment in international capital flows, and the risks that investors and others face with these transactions. By focusing on capital flows' productivity and determinants, and the policy issues they raise, this collection is a valuable resource for economists, policymakers, and financial market participants.
