Haku
Viitteet 1-10 / 31
Does finance cause growth? : Evidence from the origins of banking in Russia
(29.04.2012)
BOFIT Discussion Papers 10/2012
BOFIT Discussion Papers 10/2012
This paper examines the effect of banking on economic growth in modern Russia. To overcome simultaneity and selection, we exploit regional banking variation induced by the creation of ?specialized banks? (spetsbanks) in ...
Measuring systemic funding liquidity risk in the Russian banking system
(12.06.2012)
BOFIT Discussion Papers 12/2012
BOFIT Discussion Papers 12/2012
The 2007-2009 global financial crisis demonstrated the need for effective systemic risk measurement and regulation. This paper proposes a straightforward approach for estimat-ing the systemic funding liquidity risk in a ...
Non-price competitiveness of exports from emerging countries
(21.09.2012)
BOFIT Discussion Papers 19/2012
BOFIT Discussion Papers 19/2012
This analysis of global competitiveness of emerging market economies accounts for non-price aspects of competitiveness. Building on the methodology pioneered by Feenstra (1994) and Broda and Weinstein (2006), we construct ...
Does CEO turnover matter in China? : Evidence from the stock market
(24.09.2012)
BOFIT Discussion Papers 21/2012
BOFIT Discussion Papers 21/2012
We study the consequences of CEO turnover announcements on the stock prices of firms in China, where most listed firms remain majority-owned by the state. Our proposition is that state ownership may affect stock market ...
De facto currency baskets of China and East Asian economies : The rising weights
(09.02.2012)
BOFIT Discussion Papers 2/2012
BOFIT Discussion Papers 2/2012
We employ Bayesian method to estimate a time-varying coefficient version of the de facto currency basket model of Frankel and Wei (2007) for the RMB of China, using daily data from February 2005 to July 2011. We estimate ...
The dynamics of catch-up and skill and technology upgrading in China
(13.06.2012)
BOFIT Discussion Papers 13/2012
BOFIT Discussion Papers 13/2012
This paper accounts for China.s economic growth since 1980 in a unified endogenous growth model in which a sequencing of physical capital accumulation, human capital ac-cumulation and innovation drives the rise in China.s ...
Bank pricing under oligopsony-oligopoly : Evidence from 103 developing countries
(08.02.2012)
BOFIT Discussion Papers 1/2012
BOFIT Discussion Papers 1/2012
We propose a generic oligopsony-oligopoly model to study bank behavior under uncertainty in developing countries. We derive a pricing structure that acknowledges market power in both the deposit and loan markets and identify ...
A DSGE-based assessment of nonlinear loan-to-Value policies : Evidence from Hong Kong
(30.04.2012)
BOFIT Discussion Papers 11/2012
BOFIT Discussion Papers 11/2012
In the wake of the 2008-2009 global financial crisis, the macroeconomic discussion has returned to the topic of proactive macroprudential policies. One proactive approach, the use of loan-to-value (LTV) policies to curb ...
Modelling the impact of aggregate financial shocks external to the Chinese economy
(18.10.2012)
BOFIT Discussion Papers 25/2012
BOFIT Discussion Papers 25/2012
Ways of extracting financial condition indices (FCI) are explored and alternative FCIs external to the Chinese economy are constructed to model their predictive content. The exploration aims at highlighting the rich and ...
Bank stress tests as an information device for emerging markets : The case of Russia
(10.02.2012)
BOFIT Discussion Papers 3/2012
BOFIT Discussion Papers 3/2012
The recent financial crisis emphasised the need for effective financial stability analyses and tools for detecting systemic risk. This paper looks at assessment of banking sector resilience through stress testing. We argue ...