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Author: Tchudjane Kouassi
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Author: Tchudjane Kouassi
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Author: Jasna Atanasijević
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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The main idea in this thesis is to analyze the macroeconomic implication of the micro-level failures of financial markets resulting from economic transformation of countries in Central and Eastern Europe. After first chapter which overviews the overall process of financial sector transition, financial integration and crisis transmission to the region of the Emerging Europe, the following three chapters cover the separate issues based on micro level data empirical analysis. The chapter 2 investigates the liberalized credit market resulting in its segmentation according to risk and transparency of borrowers on the case of Serbia. The empirical research is based on banks field survey and panel data estimation on database consisting of individual banks financial data. The Chapter 3 analyses the role of credit in the newly established monetary policy framework based on generalized method of moments estimation on Serbian banking sector data and points out to weak evidence on the role of credit in monetary policy transmission. The Chapter 4 examines the determinants of financing obstacle using probit estimation on the EBRD database (Business Environment and Enterprise Performance Survey) for 18 European transition economies and demonstrates that firms in productive sectors (manufacturing industry) have had relatively more problem in access to finance. The general conclusion resulting from the thesis is that the regulatory environment and specific policies related to financial sector in new market economies should encompass institutions to deal with information asymmetries and specific market failures that may lead to macroeconomic imbalances and propagation of external shocks.
Author: Moazzam Farooq
Publisher:
ISBN: 9789056682941
Category :
Languages : en
Pages : 187
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Author: Michel de Lange
Publisher:
ISBN:
Category : Credit
Languages : en
Pages : 140
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Author: Mr. Malcolm D. Knight
Publisher: International Monetary Fund
ISBN: 1451898436
Category : Business & Economics
Languages : en
Pages : 33
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This paper analyzes the impact of the globalization of financial markets on developing and transition economies. Differences between the responses of competitive and imperfectly competitive banking sectors cause them to affect economic activity differently. While nonbank financial markets and institutions can help to increase the competitiveness of banking sectors, there are “gaps” in the institutions and market structures of developing and transition economies. Eliminating these gaps may reinforce financial market discipline in these countries. Some current international initiatives are outlined for enhancing financial system soundness; these emphasize the complementary roles of market discipline and official oversight in an environment of globalized markets.
Author: Minggao Shen
Publisher:
ISBN:
Category :
Languages : en
Pages : 342
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Author: Augusto de la Torre
Publisher: World Bank Publications
ISBN: 0821365444
Category : Business & Economics
Languages : en
Pages : 232
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Back in the early 1990s, economists and policy makers had high expectations about the prospects for domestic capital market development in emerging economies, particularly in Latin America. Unfortunately, they are now faced with disheartening results. Stock and bond markets remain illiquid and segmented. Debt is concentrated at the short end of the maturity spectrum and denominated in foreign currency, exposing countries to maturity and currency risk. Capital markets in Latin America look particularly underdeveloped when considering the many efforts undertaken to improve the macroeconomic environment and to reform the institutions believed to foster capital market development. The disappointing performance has made conventional policy recommendations questionable, at best. 'Emerging Capital Markets and Globalization' analyzes where we stand and where we are heading on capital market development. First, it takes stock of the state and evolution of Latin American capital markets and related reforms over time and relative to other countries. Second, it analyzes the factors related to the development of capital markets, with particular interest on measuring the impact of reforms. And third, in light of this analysis, it discusses the prospects for capital market development in Latin America and emerging economies and the implications for the reform agenda.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264852395
Category :
Languages : en
Pages : 94
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This edition of the OECD Sovereign Borrowing Outlook reviews developments in response to the COVID-19 pandemic for government borrowing needs, funding conditions and funding strategies in the OECD area.
Author: Asli Demirguc-Kunt
Publisher: World Bank Publications
ISBN:
Category : Access to Finance
Languages : en
Pages : 82
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Abstract: The first part of this paper reviews the literature on the relation between finance and growth. The second part of the paper reviews the literature on the historical and policy determinants of financial development. Governments play a central role in shaping the operation of financial systems and the degree to which large segments of the financial system have access to financial services. The paper discusses the relationship between financial sector policies and economic development.
Author: Bert Scholtens
Publisher:
ISBN: 9783902109156
Category : Finance
Languages : en
Pages : 59
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