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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 ...
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 ...
Regulatory bottlenecks, transaction costs and corruption : a cross-country investigation
(18.06.2008)
BOFIT Discussion Papers 10/2008
BOFIT Discussion Papers 10/2008
This paper uses recent data on a large cross-section of countries to study the determinants of corrupt activity. The main contribution is to examine the effects of different types and severities of government regulations ...
Does the Chinese banking system benefit from foreign investors?
(25.06.2008)
BOFIT Discussion Papers 11/2008
BOFIT Discussion Papers 11/2008
We find empirical evidence that the Chinese banking system has benefited from the entry of foreign investors through higher profitability and increased efficiency of the banking system. Foreign participation, which consists ...
Banking in transition countries
(25.08.2008)
BOFIT Discussion Papers 12/2008
BOFIT Discussion Papers 12/2008
Modern banking institutions were virtually non-existent in the planned economies of cen-tral Europe and the former Soviet Union. In the early transition period, banking sectors began to develop during several years of ...
McCallum rule and Chinese monetary policy
(15.11.2008)
BOFIT Discussion Papers 15/2008
BOFIT Discussion Papers 15/2008
This paper evaluates the usefulness of a McCallum monetary policy rule based on money supply for maintaining price stability in mainland China. We examine whether excess money relative to rulebased values provides information ...
Forecasting inflation in China
(15.04.2008)
BOFIT Discussion Papers 2/2008
BOFIT Discussion Papers 2/2008
This paper forecasts inflation in China over a 12-month horizon. The analysis runs 15 alternative models and finds that only those considering many predictors via a principal component display a better relative forecasting ...
Exchange rate pass-through in the global economy : the role of emerging market economies
(25.11.2008)
BOFIT Discussion Papers 25/2008
BOFIT Discussion Papers 25/2008
This paper estimates export and import price equations for 41 countries -including 28 emerging market economies. Further, it relates the estimated elasticities to structural fac-tors and tests for statistical breaks in the ...
What beyond oil and gas? : Russian trade specialisation in manufactures
(23.11.2008)
BOFIT Discussion Papers 23/2008
BOFIT Discussion Papers 23/2008
The objective of the paper is to study Russia's pattern of specialisation in the manufactures trade since 1998. Russia's global trade balance for manufactures is rapidly deteriorating. However, the trade pattern in ...
State-business relations and improvement of corporate governance in Russia
(26.12.2008)
BOFIT Discussion Papers 26/2008
BOFIT Discussion Papers 26/2008
In this paper, we analyze the influence of the state on the improvement of corporate governance in Russia of the early 2000s. Taking into account the low quality of market institutions in the 1990s (i.e., the market failure ...