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What drives financial crises in emerging markets?
(01.08.2003)
BOFIT Discussion Papers 5/2003
BOFIT Discussion Papers 5/2003
The study examines the causes of financial crises in 31 emerging market countries during 1980 2001.It estimates a probit model using 23 macroeconomic and financial sector variables.Traditional variables such as unemployment ...
Russia' banking sector transition : where to?
(07.03.2007)
BOFIT Discussion Papers 5/2007
BOFIT Discussion Papers 5/2007
This paper applies an analytical paradigm of institutional economics to the transition of the Russian banking sector, focusing on the interplay between ownership change and institutional change. We find that the state's ...
The impact of Chinese monetary policy shocks on East Asia
(02.06.2008)
BOFIT Discussion Papers 5/2008
BOFIT Discussion Papers 5/2008
We study the effects of Chinese monetary policy shocks on China s major trading partners in East Asia by estimating structural vector autoregressive (SVAR) models for six economies in the region. We find that a monetary ...
Composition of exports and cross-country corruption
(27.06.2009)
BOFIT Discussion Papers 5/2009
BOFIT Discussion Papers 5/2009
This research examines the connection between a country's export structure and corruption, incorporating disaggregated data on exports for a recent time period over a large set of nations. We ask whether various types of ...
Changing economic structures and impacts of shocks : evidence from a DSGE for China
(28.04.2011)
BOFIT Discussion Papers 5/2011
BOFIT Discussion Papers 5/2011
We construct a small-scale dynamic stochastic general equilibrium (DSGE) model that features price rigidities, habit formation in consumption and costs in capital adjustment, and calibrate the model with data for the Chinese ...
Are the Central and Eastern European transition countries still vulnerable to a financial crisis? Results from the signals approach
(05.05.2002)
BOFIT Discussion Papers 5/2002
BOFIT Discussion Papers 5/2002
The aim of paper is to analyse the vulnerability of the Central and Eastern European accession countries to the EU as well as that of Turkey and Russia to a financial crisis. Our methodology is an extension of the signals ...
Bank supervision Russian style : rules versus enforcement and tacit objectives
(14.08.2005)
BOFIT Discussion Papers 10/2005
BOFIT Discussion Papers 10/2005
We focus on the con.ict between two central bank objectives individual bank stability and systemic stability.We study the licensing policy of the Central Bank of Russia (CBR) during 1999.2002.Banks in poorly banked regions, ...
Has the Chinese economy become more sensitive to interest rates? : Studying credit demand in China
(03.04.2008)
BOFIT Discussion Papers 1/2008
BOFIT Discussion Papers 1/2008
Chinese authorities have traditionally relied mainly on administrative and quantitative measures in conducting monetary policy, with interest rates playing a less prominent role. Additional support for this view resides ...
A model of Russia's "virtual economy"
(19.07.2000)
BOFIT Discussion Papers 10/2000
BOFIT Discussion Papers 10/2000
The Russian Economy has evolved into a hybrid form, a partially monetized quasi-market system that has been called the virtual economy.In the virtual economy, barter and non-monetary transactions play a key role in ...
Foreign direct investment and China's bilateral intra-industry trade with Japan and the US
(16.01.2007)
BOFIT Discussion Papers 1/2007
BOFIT Discussion Papers 1/2007
This paper analyzes dynamic changes of China's intra-industry trade with its major trading partners, Japan and the US, from 1980 to 2004.It also investigates to what extent foreign direct investment promoted intra-industry ...