Q1 - Franchise Services of North America Inc.
... because the majority of its operations are located in the United States. All references to US$ or to $ are to United States dollars and references to C$ are to Canadian dollars. At December 31, 2010, certain of the Company’s financial instruments are denominated in Canadian ...
... because the majority of its operations are located in the United States. All references to US$ or to $ are to United States dollars and references to C$ are to Canadian dollars. At December 31, 2010, certain of the Company’s financial instruments are denominated in Canadian ...
financial stability, systemic risk and macroprudential policy
... vicious cycle can arise in the contraction phase. If the desirable adjustment is combined with strong increase in general uncertainty, a sharp fall in access to external financing due to capital or balance-sheet liquidity problems in banks, and with panic selling of overvalued assets, the downward mo ...
... vicious cycle can arise in the contraction phase. If the desirable adjustment is combined with strong increase in general uncertainty, a sharp fall in access to external financing due to capital or balance-sheet liquidity problems in banks, and with panic selling of overvalued assets, the downward mo ...
IOSR Journal Of Humanities And Social Science (JHSS)
... equities, commercial paper and banks deposits. He also indicated that monetary policy affects the economy through liquidity constraints and credit control. Borio (1995) [5], investigated the credit channel of monetary policy by examining the structure of credit to the non-government sector in fourte ...
... equities, commercial paper and banks deposits. He also indicated that monetary policy affects the economy through liquidity constraints and credit control. Borio (1995) [5], investigated the credit channel of monetary policy by examining the structure of credit to the non-government sector in fourte ...
Banking system control, capital allocation, and economy performance
... widely held. For brevity, we refer to the first as familycontrolled. Controlling for banking system size, stock market size, and other relevant factors, we find more predominantly family-controlled banking systems correlated with less efficient capital allocation. This result holds regardless of whethe ...
... widely held. For brevity, we refer to the first as familycontrolled. Controlling for banking system size, stock market size, and other relevant factors, we find more predominantly family-controlled banking systems correlated with less efficient capital allocation. This result holds regardless of whethe ...
Sawyer/Sprinkle Chapter 18
... The focus on internal balance comes at the expense of external balance considerations Policies designed to achieve a desired internal balance may have large consequences for a country’s external balance ...
... The focus on internal balance comes at the expense of external balance considerations Policies designed to achieve a desired internal balance may have large consequences for a country’s external balance ...
PDF - Publications
... economy to one that is more balanced, and where market financing plays a more significant role, is a necessarily long process. In the United States, for example, it took several decades to achieve. And in this case, among other factors, it was public intervention that played a determining role, via ...
... economy to one that is more balanced, and where market financing plays a more significant role, is a necessarily long process. In the United States, for example, it took several decades to achieve. And in this case, among other factors, it was public intervention that played a determining role, via ...
Monetary Policy
... the prices of government securities will change during the trading day. 9:10 A.M. The account manager studies the FOMC’s directive, or the level of the federal funds rate desired, and designs dynamic open market operations and defensive open market operations to offset temporary disturbances to rese ...
... the prices of government securities will change during the trading day. 9:10 A.M. The account manager studies the FOMC’s directive, or the level of the federal funds rate desired, and designs dynamic open market operations and defensive open market operations to offset temporary disturbances to rese ...
vsi09-hf-Egger 10155203 en
... but hinges as well on a number of fundamentals relating to corporate finance and legal institutions. Young firms are more innovative on average than larger and more mature firms but also have more difficulty in attracting external funds. The notion that young entrepreneurial firms are more innovative ...
... but hinges as well on a number of fundamentals relating to corporate finance and legal institutions. Young firms are more innovative on average than larger and more mature firms but also have more difficulty in attracting external funds. The notion that young entrepreneurial firms are more innovative ...
the future of the belgian financial sector
... 24. Although major reforms have already been introduced to enhance the resilience of the financial system, some risks remain, especially if low interest rates would persist for some years. The first 5 recommendations address this issue. Recommendation 1 proposes to enhance the current regulatory and ...
... 24. Although major reforms have already been introduced to enhance the resilience of the financial system, some risks remain, especially if low interest rates would persist for some years. The first 5 recommendations address this issue. Recommendation 1 proposes to enhance the current regulatory and ...
Lecture 3: Vulnerabilities Related to the Scaling Up of Aid and Other
... competitiveness of exports and might thus undermine economic growth Exports ...
... competitiveness of exports and might thus undermine economic growth Exports ...
Expected portfolio returns
... Ironically, an investor who employs an adviser who is conservative about the expected returns that a portfolio will deliver is likely to be better served over time, as this conservatism implies a greater understanding and honesty about capital market returns and the desire to do what is right for th ...
... Ironically, an investor who employs an adviser who is conservative about the expected returns that a portfolio will deliver is likely to be better served over time, as this conservatism implies a greater understanding and honesty about capital market returns and the desire to do what is right for th ...
Risk and resilience in a changing world
... economic environment is moving into a markedly more volatile and uncertain period. Over the past few years, we have observed greater volatility in trade and capital flows, GDP, oil and commodity prices, and exchange rates. And the incidence of significant financial crises has increased.1 The recent ...
... economic environment is moving into a markedly more volatile and uncertain period. Over the past few years, we have observed greater volatility in trade and capital flows, GDP, oil and commodity prices, and exchange rates. And the incidence of significant financial crises has increased.1 The recent ...
International Business Cycle Comovement (PDF: 877.4 Kb)
... of the shocks, the similarity of economies and economic policies and the degree of economic interdependence. Output developments will be more correlated if common shocks happen to be predominant, while they will be more asymmetric if idiosyncratic shocks are most important. Because of economic relat ...
... of the shocks, the similarity of economies and economic policies and the degree of economic interdependence. Output developments will be more correlated if common shocks happen to be predominant, while they will be more asymmetric if idiosyncratic shocks are most important. Because of economic relat ...
RESTRICTEDCode
... and broad-based growth. The strategy identified three principal means by which this objective is to be pursued: maintaining a competitive exchange rate; eliminating trade barriers; and providing more effective export promotion services for Guyana's exports. The challenges are stated more directly in ...
... and broad-based growth. The strategy identified three principal means by which this objective is to be pursued: maintaining a competitive exchange rate; eliminating trade barriers; and providing more effective export promotion services for Guyana's exports. The challenges are stated more directly in ...
trade and development report, 2011
... 1. Improving transparency in physical commodity markets............................................................... 137 2. Improving transparency in commodity futures exchanges and OTC markets .............................. 138 3. Tighter regulation of financial investors...................... ...
... 1. Improving transparency in physical commodity markets............................................................... 137 2. Improving transparency in commodity futures exchanges and OTC markets .............................. 138 3. Tighter regulation of financial investors...................... ...
International Economics: Feenstra/Taylor 2/e
... otherwise measured. As a result, some skeptics call these capital gains “statistical manna from heaven.” As with the “exorbitant privilege,” this financial gain for the United States is a loss for the rest of the world. As a result, some economists describe the United States as more like a “venture ...
... otherwise measured. As a result, some skeptics call these capital gains “statistical manna from heaven.” As with the “exorbitant privilege,” this financial gain for the United States is a loss for the rest of the world. As a result, some economists describe the United States as more like a “venture ...
C ARE CREDIT BOOMS IN EMERGING MARKETS A CONCERN? CHAPTER IV
... trend is estimated here using the HodrickPrescott (H-P) filter.10 Once a credit boom is identified, the macroeconomic and financial conditions that prevailed before, during, and after these episodes are examined. To gauge the robustness of the results, the behavior of the typical credit boom (the me ...
... trend is estimated here using the HodrickPrescott (H-P) filter.10 Once a credit boom is identified, the macroeconomic and financial conditions that prevailed before, during, and after these episodes are examined. To gauge the robustness of the results, the behavior of the typical credit boom (the me ...
to all the texts (in date order, with some
... the peak of the crisis, and there was much talk of restraining derivatives markets. Nevertheless, derivatives markets have continued at similar volume since 2008. Have changed? How significant is the rapid expansion of these markets since the 1980s for the general shape of capitalism? 8. The big eco ...
... the peak of the crisis, and there was much talk of restraining derivatives markets. Nevertheless, derivatives markets have continued at similar volume since 2008. Have changed? How significant is the rapid expansion of these markets since the 1980s for the general shape of capitalism? 8. The big eco ...
Volume 71 No. 2, June 2008 Contents monetary policy
... monetary policy responses, also strongly influenced how the recessions played out, and how severe they were. The article collects together for the first time economic data covering as much as seven decades until the present day, a much longer time period than is usual for economic analysis. Our seco ...
... monetary policy responses, also strongly influenced how the recessions played out, and how severe they were. The article collects together for the first time economic data covering as much as seven decades until the present day, a much longer time period than is usual for economic analysis. Our seco ...
The international actor of Turkish capital markets 2006 ANNUAL
... handling of delivery versus payment transactions has reached its final stage. The plan is to bring the new system into operation within the first half of 2007. The project aims at the completion of settlement confirmation operations between brokerage houses that provide services to custodian banks a ...
... handling of delivery versus payment transactions has reached its final stage. The plan is to bring the new system into operation within the first half of 2007. The project aims at the completion of settlement confirmation operations between brokerage houses that provide services to custodian banks a ...
Inflation in sudan.indd
... 61.1% in the following two years respectively. Table 1 reveals that money supply growth witnessed historic levels as the government was grappling with a host of socio-economic and political problems in period 1991-95. Money growth rates reached unprecedented record of 99.6%, 168.7 and 89.7% in 1991, ...
... 61.1% in the following two years respectively. Table 1 reveals that money supply growth witnessed historic levels as the government was grappling with a host of socio-economic and political problems in period 1991-95. Money growth rates reached unprecedented record of 99.6%, 168.7 and 89.7% in 1991, ...
Back to the Future: Latin America’s Current Development Strategy
... potential. One policy alternative based on free market principles to fill the gap between the demand and supply of resources, which could not be implemented at the time, was to allow workers to migrate.4 Roughly a century after, Latin America’s economic performance is not only sustained by primary p ...
... potential. One policy alternative based on free market principles to fill the gap between the demand and supply of resources, which could not be implemented at the time, was to allow workers to migrate.4 Roughly a century after, Latin America’s economic performance is not only sustained by primary p ...
measures of finance-adjusted output gaps
... market capitalization) matter for output gap, in addition to the conventional indicators such as inflation rate or unemployment. This paper contributes to this on-going research agenda by providing estimates of financeadjusted output gaps and sustainable growth for a large sample of emerging market ...
... market capitalization) matter for output gap, in addition to the conventional indicators such as inflation rate or unemployment. This paper contributes to this on-going research agenda by providing estimates of financeadjusted output gaps and sustainable growth for a large sample of emerging market ...
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.