Misys named a “Major Global Player” in Independent Global
... Channels”, was published as a result of Forrester’s Global Banking Platform Deals Survey 2014, which surveyed 32 vendors of globally and regionally deployed banking platforms about their 2014 deals. The report shows which vendors have had success in 2014 based on the number of deals achieved and the ...
... Channels”, was published as a result of Forrester’s Global Banking Platform Deals Survey 2014, which surveyed 32 vendors of globally and regionally deployed banking platforms about their 2014 deals. The report shows which vendors have had success in 2014 based on the number of deals achieved and the ...
The EGP Exchange Rate Questions
... Why the EGP exchange rate did not depreciate beyond the level of EGP18 per USD According to the latest available data, Egypt’s external position has shown signs of improvement following the exchange rate liberalization on November 3, 2016. The current account deficit narrowed significantly as the me ...
... Why the EGP exchange rate did not depreciate beyond the level of EGP18 per USD According to the latest available data, Egypt’s external position has shown signs of improvement following the exchange rate liberalization on November 3, 2016. The current account deficit narrowed significantly as the me ...
Mechanisms of Financial Crises in Growth and Collapse
... The transfer of income and assets from the real economy to the financial economy is the most important long-run effect of a financial crisis. If these imbalances are not addressed by making big investments in the real economy, any recovery – in that case by definition weak – will be driven by deman ...
... The transfer of income and assets from the real economy to the financial economy is the most important long-run effect of a financial crisis. If these imbalances are not addressed by making big investments in the real economy, any recovery – in that case by definition weak – will be driven by deman ...
Macroprudential Policy Transmission and Interaction with Fiscal and
... price takers, face costs to adjust the export quantum and take working capital loans in foreign currency from domestic banks to finance a share of their exports; and 3) international reserves are a policy instrument that reacts to the exchange rate. The agents in the economy are households (savers a ...
... price takers, face costs to adjust the export quantum and take working capital loans in foreign currency from domestic banks to finance a share of their exports; and 3) international reserves are a policy instrument that reacts to the exchange rate. The agents in the economy are households (savers a ...
On Floating Exchange Rates, Currency Depreciation
... of monopoly and by the ratio of the materials bill to the wage bill. Equation (3) makes total output depend on total profits and the share of profits in output 14. Equations (4) and (4a) depict the pricing policy of firms, which fix prices taking into consideration their prime cost and the weighted ...
... of monopoly and by the ratio of the materials bill to the wage bill. Equation (3) makes total output depend on total profits and the share of profits in output 14. Equations (4) and (4a) depict the pricing policy of firms, which fix prices taking into consideration their prime cost and the weighted ...
View/Open
... time-series studies suggests that there are important differences in the way in which financial development influences economic growth across countries. Arestis and Demetriades (1997), for instance, suggest that it may reflect institutional differences across countries. This idea is developed furthe ...
... time-series studies suggests that there are important differences in the way in which financial development influences economic growth across countries. Arestis and Demetriades (1997), for instance, suggest that it may reflect institutional differences across countries. This idea is developed furthe ...
Europäische Geldpolitik
... money a prominent role in the Eurosystem’s strategy was important. Money constitutes a natural, firm and reliable “nominal anchor” for monetary policy aiming at the maintenance of price stability. The important role played by money in the overall stability oriented strategy also emphasises the respo ...
... money a prominent role in the Eurosystem’s strategy was important. Money constitutes a natural, firm and reliable “nominal anchor” for monetary policy aiming at the maintenance of price stability. The important role played by money in the overall stability oriented strategy also emphasises the respo ...
AMB C R R
... region include a slowdown in external demand, exchange rate volatility, currency depreciation, high levels of inflation, rising income inequality, tightening financial conditions and the need to address structural problems in order to raise investment and jobs creation. • The deteriorating economic ...
... region include a slowdown in external demand, exchange rate volatility, currency depreciation, high levels of inflation, rising income inequality, tightening financial conditions and the need to address structural problems in order to raise investment and jobs creation. • The deteriorating economic ...
Financial liberalization, growth, productivity and capital
... European Monetary Union (EMU) contributed in a significant way to the general process of financial globalization. Moreover, given that the members of the EU were and still are characterized by considerable structural divergences as well as by different degree of development of their financial marke ...
... European Monetary Union (EMU) contributed in a significant way to the general process of financial globalization. Moreover, given that the members of the EU were and still are characterized by considerable structural divergences as well as by different degree of development of their financial marke ...
Pension industry in OECD countries
... Gross premiums to population (density) Penetration dynamics confirmed even though exchange rates impacted on data converted in US dollars Luxembourg still an outlier ...
... Gross premiums to population (density) Penetration dynamics confirmed even though exchange rates impacted on data converted in US dollars Luxembourg still an outlier ...
Policy brief
... They recovered in the early 1990s thanks to significantly lower rates of inflation after the launch of the convertibility plan, as well as to the rapid economic recovery and expansion. On the other hand, macroeconomic stability facilitated the management of tax administration, an area in which signi ...
... They recovered in the early 1990s thanks to significantly lower rates of inflation after the launch of the convertibility plan, as well as to the rapid economic recovery and expansion. On the other hand, macroeconomic stability facilitated the management of tax administration, an area in which signi ...
PDF - Harvard Law Review
... tenure at Treasury that Ricks came to believe that the best way to contain the unfolding financial crisis was for the government to insure all short-term debt in the financial system. He concedes that Geithner dismissed the idea and that his proposal failed to get traction even in a period of great ...
... tenure at Treasury that Ricks came to believe that the best way to contain the unfolding financial crisis was for the government to insure all short-term debt in the financial system. He concedes that Geithner dismissed the idea and that his proposal failed to get traction even in a period of great ...
Open Macroeconomies as A Closed Economic System
... economy is created as a foreign economy except for banking sectors such as commercial and central banks. Specifically, it is assumed that all foreign exchange transactions are done through domestic banks to meet the demand for foreign exchange services by consumers and producers. To make our model a ...
... economy is created as a foreign economy except for banking sectors such as commercial and central banks. Specifically, it is assumed that all foreign exchange transactions are done through domestic banks to meet the demand for foreign exchange services by consumers and producers. To make our model a ...
Workshop on national accounts and financial statistics, June 2011
... participants supported the development of a full set of national accounts for New Zealand, including financial accounts, which measure changes in financial assets and liabilities, in order to improve understanding of issues related to saving and wealth. There was also support for household surveys t ...
... participants supported the development of a full set of national accounts for New Zealand, including financial accounts, which measure changes in financial assets and liabilities, in order to improve understanding of issues related to saving and wealth. There was also support for household surveys t ...
Speculative capitals and demand pull inflation below full
... the crisis, part of the money amounts that had refinanced unsustainable debts on the basis of optimistic revenue expectations still circulates, since the full repayment of debts proves to be impossible, so that the related money withdrawal which should have occurred in safe financial circumstances d ...
... the crisis, part of the money amounts that had refinanced unsustainable debts on the basis of optimistic revenue expectations still circulates, since the full repayment of debts proves to be impossible, so that the related money withdrawal which should have occurred in safe financial circumstances d ...
National Bank of Kuwait (International) PLC
... Overall shareholder returns are respectable with return on average equity at 5.6%. Average return on assets for the year was 0.7%. The bank‟s total capital ratio remains satisfactory at over 18% (19.2% in ...
... Overall shareholder returns are respectable with return on average equity at 5.6%. Average return on assets for the year was 0.7%. The bank‟s total capital ratio remains satisfactory at over 18% (19.2% in ...
The Euro: `As bad as gold`? - Lund University Publications
... Great Depression (Obstfeld and Rogoff, 1996, p.627). With only American data to work with, it is not surprising that economists came to different conclusions as to the origins and the transmission mechanisms of the economic crisis. Friedman and Schwartz (1963) accused the Federal Reserve of being re ...
... Great Depression (Obstfeld and Rogoff, 1996, p.627). With only American data to work with, it is not surprising that economists came to different conclusions as to the origins and the transmission mechanisms of the economic crisis. Friedman and Schwartz (1963) accused the Federal Reserve of being re ...
The previous regulatory regime was put in place in the
... provided liquidity to other financial institutions in times of market stress. Their ability to provide adequate liquidity was protected by tight government restrictions on the risk they could take. Banks thus could serve as lender of next-to-last resort to other financial institutions, while the Fe ...
... provided liquidity to other financial institutions in times of market stress. Their ability to provide adequate liquidity was protected by tight government restrictions on the risk they could take. Banks thus could serve as lender of next-to-last resort to other financial institutions, while the Fe ...
On the Desirability of Capital Controls
... of insurance. We identify two cases in which financial autarky offers sufficiently superior terms of trade insurance that capital controls are unconditionally desirable. The first is when the elasticity of substitution between tradable goods is low, so that fluctuations in the terms of trade are too ...
... of insurance. We identify two cases in which financial autarky offers sufficiently superior terms of trade insurance that capital controls are unconditionally desirable. The first is when the elasticity of substitution between tradable goods is low, so that fluctuations in the terms of trade are too ...
Why Capital Markets Matter
... It is for this reason that historian Niall Ferguson says, “The evolution of credit and debt was as important as any technological innovation in the rise of civilization…without the foundation of borrowing and lending, the economic history of our world would scarcely have gotten off the ground.”2 Wi ...
... It is for this reason that historian Niall Ferguson says, “The evolution of credit and debt was as important as any technological innovation in the rise of civilization…without the foundation of borrowing and lending, the economic history of our world would scarcely have gotten off the ground.”2 Wi ...
Does Financial Repression Inhibit Economic Growth? Empirical
... repression on economic growth and then shed some lights on the possible mechanisms behind this correlation. We follow the proposition by McKinnon (1973) and Shaw (1973) that poorly functioning financial systems in developing countries may affect negatively quality and growth rate of the economy. And ...
... repression on economic growth and then shed some lights on the possible mechanisms behind this correlation. We follow the proposition by McKinnon (1973) and Shaw (1973) that poorly functioning financial systems in developing countries may affect negatively quality and growth rate of the economy. And ...
International Capital Flows
... have lower real interest and higher investment. Countries with a stable political environment and well defined property rights will attract more foreign capital. ...
... have lower real interest and higher investment. Countries with a stable political environment and well defined property rights will attract more foreign capital. ...
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.