The Rhetoric of Reform and Regulation
... the neoliberal, “Washington consensus” orthodoxy that dominated economic policy thinking in this period. Its prescription of facilitating market forces through less regulation, lower taxes, and reduced government intervention in the economy seemed to be demonstrably effective. In particular, the Uni ...
... the neoliberal, “Washington consensus” orthodoxy that dominated economic policy thinking in this period. Its prescription of facilitating market forces through less regulation, lower taxes, and reduced government intervention in the economy seemed to be demonstrably effective. In particular, the Uni ...
NBER WORKING PAPER SERIES THE END OF LARGE CURRENT
... require a decline in Europe’s and Japan’s savings rates and/or an increase in their investment rates.12 II.3 The U.S. Current Account Deficit in International Perspective In Table 3 I present data on the distribution of current account balances in the world economy, as well as in six groups of natio ...
... require a decline in Europe’s and Japan’s savings rates and/or an increase in their investment rates.12 II.3 The U.S. Current Account Deficit in International Perspective In Table 3 I present data on the distribution of current account balances in the world economy, as well as in six groups of natio ...
Global Financial Systems Chapter 4 Liquidity
... endogenous responses of traders, their financiers, and their risk managers, sometimes resulting in dangerous and destructive ‘spirals’ of self-reinforcing action and reaction • These spirals reinforce each other—margin spirals and liquidity spirals reinforce broader loss spirals ...
... endogenous responses of traders, their financiers, and their risk managers, sometimes resulting in dangerous and destructive ‘spirals’ of self-reinforcing action and reaction • These spirals reinforce each other—margin spirals and liquidity spirals reinforce broader loss spirals ...
annual report - Splitska banka
... also in the year of 2014, which has a special significance for Societe Generale Group and thus also for Splitska banka, as it marks 150 years since the Group was founded. For this anniversary, we wanted to emphasize once again our social responsibility as an important part of our business policy. Th ...
... also in the year of 2014, which has a special significance for Societe Generale Group and thus also for Splitska banka, as it marks 150 years since the Group was founded. For this anniversary, we wanted to emphasize once again our social responsibility as an important part of our business policy. Th ...
Final Budget Outcome 2013-14
... resources sector transitioning from the investment to production phase, commodity export volumes increased at a faster pace than expected, while mining related capital imports fell. The decline in Australia’s terms of trade in 2013-14 was smaller than expected at the 2014-15 Budget. The smaller than ...
... resources sector transitioning from the investment to production phase, commodity export volumes increased at a faster pace than expected, while mining related capital imports fell. The decline in Australia’s terms of trade in 2013-14 was smaller than expected at the 2014-15 Budget. The smaller than ...
BBVA BANCO FRANCÉS S.A.
... Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. BBVA Francés undertakes no obligation to update or revise these forward-looking statements or to publicly release the results of any revisions to these forward- ...
... Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. BBVA Francés undertakes no obligation to update or revise these forward-looking statements or to publicly release the results of any revisions to these forward- ...
PROGRESS TOWARDS CONVERGENCE 1996
... and the gap in relation to the reference value narrowed. The difference between inflation in the United Kingdom and the reference value was smaller than in the other countries throughout 1996, and has narrowed slightly in recent months. In explaining the convergence in inflation rates over the 1990s ...
... and the gap in relation to the reference value narrowed. The difference between inflation in the United Kingdom and the reference value was smaller than in the other countries throughout 1996, and has narrowed slightly in recent months. In explaining the convergence in inflation rates over the 1990s ...
Economics of Money, Banking, and Fin. Markets, 10e (Mishkin
... Answer: The bond market supports economic activity by enabling the government and corporations to borrow to undertake their projects and it is the market where interest rates are determined. Ques Status: Previous Edition 1.2 Why Study Financial Institutions and Banking? ...
... Answer: The bond market supports economic activity by enabling the government and corporations to borrow to undertake their projects and it is the market where interest rates are determined. Ques Status: Previous Edition 1.2 Why Study Financial Institutions and Banking? ...
2016 Euro Commercial Paper Programme
... monetary union pursuant to the Treaty on the Functioning of the European Union, as amended; ...
... monetary union pursuant to the Treaty on the Functioning of the European Union, as amended; ...
Addis Ababa Action Agenda: Monitoring
... Science, technology, innovation and capacity-building. . . . . . . . . . . . . 125 1. Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 125 2. Promoting information and communication technology, access to technology for all and so ...
... Science, technology, innovation and capacity-building. . . . . . . . . . . . . 125 1. Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 125 2. Promoting information and communication technology, access to technology for all and so ...
Download Full Report
... the other capital flight estimates for overlapping periods of study. For the period 2000-2005, our CED+GER estimates are again closer to the IMF’s estimates than any other. However, for the next six-year period 2006-2011, the difference between the IMF and GFI estimates widen considerably due mainl ...
... the other capital flight estimates for overlapping periods of study. For the period 2000-2005, our CED+GER estimates are again closer to the IMF’s estimates than any other. However, for the next six-year period 2006-2011, the difference between the IMF and GFI estimates widen considerably due mainl ...
APRA Independent Review - Regulation Impact Statement Updates
... their funding base and make efficient use of capital. As with loans and other exposures, ADIs that choose to hold exposures to securitisation vehicles must hold regulatory capital against these exposures. In addition, ADIs may be able to reduce the amount of regulatory capital APRA requires them to ...
... their funding base and make efficient use of capital. As with loans and other exposures, ADIs that choose to hold exposures to securitisation vehicles must hold regulatory capital against these exposures. In addition, ADIs may be able to reduce the amount of regulatory capital APRA requires them to ...
What is financial exclusion - European Commission
... Policy responses to transaction banking services, credit and savings access and use difficulties ...................................................................................................... 116 10.2.1 Policy responses to difficulties regarding transaction banking services . 116 10.2.2 Poli ...
... Policy responses to transaction banking services, credit and savings access and use difficulties ...................................................................................................... 116 10.2.1 Policy responses to difficulties regarding transaction banking services . 116 10.2.2 Poli ...
NBER WORKING PAPER SERIES EXCHANGE RATE VOLATILITY AND PRODUCTIVITY
... In the second part of the paper, we test our theoretical predictions by conducting a systematic panel data analysis with a data set for 83 countries over the years 1960-2000. When a country’s de facto degree of exchange rate ‡exibility is interacted with its level of …nancial development the results ...
... In the second part of the paper, we test our theoretical predictions by conducting a systematic panel data analysis with a data set for 83 countries over the years 1960-2000. When a country’s de facto degree of exchange rate ‡exibility is interacted with its level of …nancial development the results ...
146s10_l18.pdf
... from becoming too positive or too negative Prices tended to adjust according the amount of gold circulating in an economy Hume: Price specie flow mechanism is the adjustment of prices as gold (specie) flows into or out of a country Caused prices to rise with a surplus and vice-versa Rules of the Gam ...
... from becoming too positive or too negative Prices tended to adjust according the amount of gold circulating in an economy Hume: Price specie flow mechanism is the adjustment of prices as gold (specie) flows into or out of a country Caused prices to rise with a surplus and vice-versa Rules of the Gam ...
ipesp09-5-5tue-globalization
... – Level of integration still has not reached the levels achieved among developed countries between 1870 and 1913 (G&I, 217) ...
... – Level of integration still has not reached the levels achieved among developed countries between 1870 and 1913 (G&I, 217) ...
Effectiveness of devaluation in achieving Internal and External
... among other things, to in appropriate trade and payment policies, such as overvalued exchange reassess and exchange controls, high tariffs and quantitative restrictions which result in a divergence between world prices and domestic prices leading to policy induced distortion with a considerable macr ...
... among other things, to in appropriate trade and payment policies, such as overvalued exchange reassess and exchange controls, high tariffs and quantitative restrictions which result in a divergence between world prices and domestic prices leading to policy induced distortion with a considerable macr ...
Part II: Compliance Standards for AML/CFT
... • Aim is to promote sound supervisory standards worldwide • Committee’s secretariat provided by the Bank for International Settlements(BIS) in Basel, Switzerland • BIS is an international organization that fosters cooperation among central banks and other agencies in pursuit of monetary and financia ...
... • Aim is to promote sound supervisory standards worldwide • Committee’s secretariat provided by the Bank for International Settlements(BIS) in Basel, Switzerland • BIS is an international organization that fosters cooperation among central banks and other agencies in pursuit of monetary and financia ...
German-Central European Supply Chain--Cluster Report
... A. Trade Linkages __________________________________________________________________________________ 3 B. Financial Linkages _______________________________________________________________________________ 6 ...
... A. Trade Linkages __________________________________________________________________________________ 3 B. Financial Linkages _______________________________________________________________________________ 6 ...
ge11 Keuschnigg 15050841 en
... between producers and nancial intermediaries (rather than consumers).4 Second, R&D subsidies boost innovation and lead to welfare gains, not because of knowledge spillovers which are excluded in our model,5 but because they increase own funds which, in turn, renders innovating rms ceteris paribus ...
... between producers and nancial intermediaries (rather than consumers).4 Second, R&D subsidies boost innovation and lead to welfare gains, not because of knowledge spillovers which are excluded in our model,5 but because they increase own funds which, in turn, renders innovating rms ceteris paribus ...
romewp2013-01 - Research on Money in the Economy” ROME
... models’ theoretical appeal, they have still not been able to adequately explain one of the oldest and most fundamental artefacts of economic life – i.e. money. The neglect of money in monetary policy circles seems to have come to an end since the dawn of the financial crisis in 2007. Since central ...
... models’ theoretical appeal, they have still not been able to adequately explain one of the oldest and most fundamental artefacts of economic life – i.e. money. The neglect of money in monetary policy circles seems to have come to an end since the dawn of the financial crisis in 2007. Since central ...
Q4 and Annual 2016 Results
... knows and expects today to make a statement about the future. Forward-looking statements may include words such as aim, anticipate, assumption, believe, could, expect, goal, guidance, intend, may, objective, outlook, plan, project, seek, should, strategy, strive, target, and will. Forward-looking st ...
... knows and expects today to make a statement about the future. Forward-looking statements may include words such as aim, anticipate, assumption, believe, could, expect, goal, guidance, intend, may, objective, outlook, plan, project, seek, should, strategy, strive, target, and will. Forward-looking st ...
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.