World Government Bond Fund - Aberdeen Asset Management Asia
... not to push it too far. The argument is more subtle for sovereign issuers. This is because developed market sovereigns that issue in their own currency and have a credible central bank don’t really face default risk even as they issue more debt. The central bank will act as a lender of last resort, ...
... not to push it too far. The argument is more subtle for sovereign issuers. This is because developed market sovereigns that issue in their own currency and have a credible central bank don’t really face default risk even as they issue more debt. The central bank will act as a lender of last resort, ...
Working Capital
... Since World War II there have been five reconfigurations of the UK speculative commercial property development, including two major boom/bust cycles. With each iteration, the actors involved adjusted their processes and relationships, attempting to reduce exposure to risk while securing access to ca ...
... Since World War II there have been five reconfigurations of the UK speculative commercial property development, including two major boom/bust cycles. With each iteration, the actors involved adjusted their processes and relationships, attempting to reduce exposure to risk while securing access to ca ...
與亞洲金融危機期間的產值跌幅比較 - Hong Kong Monetary Authority
... raised by Mainland companies might still be held as Hong Kong dollar deposits in the Hong Kong or Mainland banking system without being exchanged into other currencies. As mentioned above, Mainland companies raised a total of HK$340 billion funds from the equity market. So we may deduce that as much ...
... raised by Mainland companies might still be held as Hong Kong dollar deposits in the Hong Kong or Mainland banking system without being exchanged into other currencies. As mentioned above, Mainland companies raised a total of HK$340 billion funds from the equity market. So we may deduce that as much ...
E
... financial systems remain small in low-income regions, especially in much of sub-Saharan Africa. In banking, which is the dominant source of finance in these regions, the high spreads between deposit and lending rates reflect a lack of competition and inhibit firms from growing to take advantage of e ...
... financial systems remain small in low-income regions, especially in much of sub-Saharan Africa. In banking, which is the dominant source of finance in these regions, the high spreads between deposit and lending rates reflect a lack of competition and inhibit firms from growing to take advantage of e ...
Review of Stiglitz "Globalization and its Discontent"
... reservations about the ‘‘capital-account-last’’ sequencing recommendation, Guitian summarized his views as follows: ‘‘There does not seem to be an a priori reason why the two accounts [current and capital] could not be opened up simultaneously. . .[A] strong case can be made in support of rapid and ...
... reservations about the ‘‘capital-account-last’’ sequencing recommendation, Guitian summarized his views as follows: ‘‘There does not seem to be an a priori reason why the two accounts [current and capital] could not be opened up simultaneously. . .[A] strong case can be made in support of rapid and ...
The Development of Capital Markets
... C/D rises as deposits are withdrawn • In a recession, there are loan losses. • Fear that a bank is insolventrun • What’s the effect on the Money Supply? • C/D and ER/D rise M to decline • Result? Interest rates rise Investment and ...
... C/D rises as deposits are withdrawn • In a recession, there are loan losses. • Fear that a bank is insolventrun • What’s the effect on the Money Supply? • C/D and ER/D rise M to decline • Result? Interest rates rise Investment and ...
Macroeconomic Vulnerability and the Rupee’s Decline C.P. Chandrasekhar
... “overheating” such as a large current account deficit and high inflation paradoxically accompany the downturn or slowdown in growth. This stagflationary environment encourages, in turn, foreign investors and lenders to hold back or withdraw from the Indian market. It is because of this combination o ...
... “overheating” such as a large current account deficit and high inflation paradoxically accompany the downturn or slowdown in growth. This stagflationary environment encourages, in turn, foreign investors and lenders to hold back or withdraw from the Indian market. It is because of this combination o ...
Philip R. Lane IIIS, Trinity College Dublin and CEPR
... there is a clearly positive assocation between the quality of domestic institutions and the ability to attract capital inflows (see, amongst others, Lane and Milesi-Ferretti 2001, Lane 2004 and Alfaro et al 2008). Accordingly, the most obvious explanation of the ability of converging European count ...
... there is a clearly positive assocation between the quality of domestic institutions and the ability to attract capital inflows (see, amongst others, Lane and Milesi-Ferretti 2001, Lane 2004 and Alfaro et al 2008). Accordingly, the most obvious explanation of the ability of converging European count ...
Chapter 1
... how “activist” policymakers should be in trying to manage the economy—have varied over time as circumstances change. Before the Great Depression, the main paradigm was “laissez faire” because it was believed that the economy was inherently stable and that disturbances to the economy were self-correc ...
... how “activist” policymakers should be in trying to manage the economy—have varied over time as circumstances change. Before the Great Depression, the main paradigm was “laissez faire” because it was believed that the economy was inherently stable and that disturbances to the economy were self-correc ...
The Global Financial Crisis: Overview
... generated the mortgages sold them off and did not have to bear the consequences if their particular mortgages went bad; as a result, lending standards deteriorated. Moreover, securitization is based to a great extent on the supposition that a large fraction of mortgages will not go bad at the same t ...
... generated the mortgages sold them off and did not have to bear the consequences if their particular mortgages went bad; as a result, lending standards deteriorated. Moreover, securitization is based to a great extent on the supposition that a large fraction of mortgages will not go bad at the same t ...
Keynote Speech
... 1. Common currency → no domestic monetary policy 2. Fixed or heavily managed exchange rate → monetary policy must maintain the exchange rate 3. Flexible exchange rate → monetary policy independence, but central bank must chose a nominal anchor: inflation or money supply targeting ...
... 1. Common currency → no domestic monetary policy 2. Fixed or heavily managed exchange rate → monetary policy must maintain the exchange rate 3. Flexible exchange rate → monetary policy independence, but central bank must chose a nominal anchor: inflation or money supply targeting ...
The Hydra-Headed Crisis
... emanating from the Bretton Woods institutions. These recipes were imposed on indebted countries throughout the developing world and elsewhere. Paradoxically, as a result of the 2008 global financial crisis, the US and the UK emerged as significantly indebted countries but, of course, they have not b ...
... emanating from the Bretton Woods institutions. These recipes were imposed on indebted countries throughout the developing world and elsewhere. Paradoxically, as a result of the 2008 global financial crisis, the US and the UK emerged as significantly indebted countries but, of course, they have not b ...
2. Overview of the Financial System
... or practice in the area of banking regulation governing the treatment of banks in distress, with official efforts to rehabilitate banks differing both in their time horizon and nature, from the enforcement of banking law and the restriction of new business, to the receivership and liquidation of ban ...
... or practice in the area of banking regulation governing the treatment of banks in distress, with official efforts to rehabilitate banks differing both in their time horizon and nature, from the enforcement of banking law and the restriction of new business, to the receivership and liquidation of ban ...
Table of listed below articles
... Its hallmark is securitisation. Banks that once made loans and held them on their books now pool and sell the repackaged assets, from mortgages to car loans. In 2001 the value of pooled securities in America overtook the value of outstanding bank loans. Thereafter, the scale and complexity of this r ...
... Its hallmark is securitisation. Banks that once made loans and held them on their books now pool and sell the repackaged assets, from mortgages to car loans. In 2001 the value of pooled securities in America overtook the value of outstanding bank loans. Thereafter, the scale and complexity of this r ...
Dear Colleague - Oakland County
... 4.1.6 Risk Management- Develop a risk management plan that uses a combination of avoidance, reduction, retention, and transfer (insurance). ...
... 4.1.6 Risk Management- Develop a risk management plan that uses a combination of avoidance, reduction, retention, and transfer (insurance). ...
Gー0baー ーmbaーancGS and the Gー0baー Financiaー Crisis= An
... securitization of debts and financial derivatives markets. Financial institutions started to operate the business dealing ...
... securitization of debts and financial derivatives markets. Financial institutions started to operate the business dealing ...
This PDF is a selection from an out-of-print volume from... Bureau of Economic Research
... of this character is relevant primarily in the form of the foreign (gross or net) debt to national wealth ratio. The net debt ratio, in particular, indicates the extent to which a given sector is a net debtor or creditor in relation to other sectors and can be subdivided by type or maturity of the c ...
... of this character is relevant primarily in the form of the foreign (gross or net) debt to national wealth ratio. The net debt ratio, in particular, indicates the extent to which a given sector is a net debtor or creditor in relation to other sectors and can be subdivided by type or maturity of the c ...
“Recovery or Bubble? The Global Economy Today", organised by
... households in mortgages, and severing of linkages between the real sector and the domestic banking sector. In addition, lagging productivity because of low value added production and rapid loss of competitiveness through currency appreciation made the Baltic countries into Ponzi schemes as they need ...
... households in mortgages, and severing of linkages between the real sector and the domestic banking sector. In addition, lagging productivity because of low value added production and rapid loss of competitiveness through currency appreciation made the Baltic countries into Ponzi schemes as they need ...
Does Japanese Government Increase Its Role in Financial Crisis?
... questionable mortgage-backed assets is spreading throughout Europe‘s banking sector, frightening away investors and making governments eager to rescue institutions. Recession is now inevitable for Western economies — increasing the danger to markets that supply the world‘s consumers with manufacture ...
... questionable mortgage-backed assets is spreading throughout Europe‘s banking sector, frightening away investors and making governments eager to rescue institutions. Recession is now inevitable for Western economies — increasing the danger to markets that supply the world‘s consumers with manufacture ...
... economy today are related to the housing sector. Over the past seven or eight years, residential investment first surged at a faster rate than usual and then collapsed as demand for housing first faltered and then crashed. While some believe that the low interest rates that followed the collapse of ...
Financial integration in the four Basins: a quantitative comparison
... Instead, price-based indicators measure discrepancies in asset prices on the basis of their geographic origin. In a perfectly integrated market, prices of assets with similar characteristics should be the same or at least largely influenced by common area factors. In this paper we approach the compa ...
... Instead, price-based indicators measure discrepancies in asset prices on the basis of their geographic origin. In a perfectly integrated market, prices of assets with similar characteristics should be the same or at least largely influenced by common area factors. In this paper we approach the compa ...
Basel II
... Compliance Regulation and Standard Requirements Basel II is an international business standard that requires financial institutions to maintain enough cash reserves to cover risks incurred by operations. The Basel accords are a series of recommendations on banking laws and regulations issued by the ...
... Compliance Regulation and Standard Requirements Basel II is an international business standard that requires financial institutions to maintain enough cash reserves to cover risks incurred by operations. The Basel accords are a series of recommendations on banking laws and regulations issued by the ...
Government Ownership of Banks
... Government involvement in economic life differs significantly across legal origins (French civil law and common law) GOB is large and pervasive around the world Privatization sharply reduced but far from eliminated GOB Adjustments for government control increase the average Development ban ...
... Government involvement in economic life differs significantly across legal origins (French civil law and common law) GOB is large and pervasive around the world Privatization sharply reduced but far from eliminated GOB Adjustments for government control increase the average Development ban ...
Global financial system
The global financial system is the worldwide framework of legal agreements, institutions, and both formal and informal economic actors that together facilitate international flows of financial capital for purposes of investment and trade financing. Since emerging in the late 19th century during the first modern wave of economic globalization, its evolution is marked by the establishment of central banks, multilateral treaties, and intergovernmental organizations aimed at improving the transparency, regulation, and effectiveness of international markets. In the late 1800s, world migration and communication technology facilitated unprecedented growth in international trade and investment. At the onset of World War I, trade contracted as foreign exchange markets became paralyzed by money market illiquidity. Countries sought to defend against external shocks with protectionist policies and trade virtually halted by 1933, worsening the effects of the global Great Depression until a series of reciprocal trade agreements slowly reduced tariffs worldwide. Efforts to revamp the international monetary system after World War II improved exchange rate stability, fostering record growth in global finance.A series of currency devaluations and oil crises in the 1970s led most countries to float their currencies. The world economy became increasingly financially integrated in the 1980s and 1990s due to capital account liberalization and financial deregulation. A series of financial crises in Europe, Asia, and Latin America followed with contagious effects due to greater exposure to volatile capital flows. The global financial crisis, which originated in the United States in 2007, quickly propagated among other nations and is recognized as the catalyst for the worldwide Great Recession. A market adjustment to Greece's noncompliance with its monetary union in 2009 ignited a sovereign debt crisis among European nations known as the Eurozone crisis.A country's decision to operate an open economy and globalize its financial capital carries monetary implications captured by the balance of payments. It also renders exposure to risks in international finance, such as political deterioration, regulatory changes, foreign exchange controls, and legal uncertainties for property rights and investments. Both individuals and groups may participate in the global financial system. Consumers and international businesses undertake consumption, production, and investment. Governments and intergovernmental bodies act as purveyors of international trade, economic development, and crisis management. Regulatory bodies establish financial regulations and legal procedures, while independent bodies facilitate industry supervision. Research institutes and other associations analyze data, publish reports and policy briefs, and host public discourse on global financial affairs.While the global financial system is edging toward greater stability, governments must deal with differing regional or national needs. Some nations are trying to orderly discontinue unconventional monetary policies installed to cultivate recovery, while others are expanding their scope and scale. Emerging market policymakers face a challenge of precision as they must carefully institute sustainable macroeconomic policies during extraordinary market sensitivity without provoking investors to retreat their capital to stronger markets. Nations' inability to align interests and achieve international consensus on matters such as banking regulation has perpetuated the risk of future global financial catastrophes.