Haku
Viitteet 1-10 / 22
Russia's 1999–2000 election cycle and the politics-banking interface
(01.11.2017)
BOFIT Discussion Papers 17/2017
BOFIT Discussion Papers 17/2017
We investigate whether lending by the dominant Russian state bank, Sberbank, contributed to Vladimir Putin’s ascent to power during the presidential elections of March 2000. Our hypothesis is that Sberbank corporate loans ...
Structural change, expanding informality and labour productivity growth in Russia
(29.11.2017)
BOFIT Discussion Papers 18/2017
BOFIT Discussion Papers 18/2017
Intensive growth, structural change and expanding informality has characterized many developing and emerging economies in recent decades. Yet most empirical investigations into the relationship between structural change ...
The information content in the offshore Renminbi foreign-exchange option market : Analytics and implied USD/CNH densities
(23.10.2017)
BOFIT Discussion Papers 15/2017
BOFIT Discussion Papers 15/2017
In line with the deepening of the derivative foreign-exchange market in Hong Kong, we recover risk-neutral probability densities for future US dollar/offshore renminbi exchange rates as implied by exchange rate option ...
Should one follow movements in the oil price or in money supply? Forecasting quarterly GDP growth in Russia with higher-frequency indicators
(30.11.2017)
BOFIT Discussion Papers 19/2017
BOFIT Discussion Papers 19/2017
GDP forecasters face tough choices over which leading indicators to follow and which forecasting models to use. To help resolve these issues, we examine a range of monthly indicators to forecast quarterly GDP growth in a ...
Determinants of bank closures : Do changes of CAMEL variables matter?
(30.10.2017)
BOFIT Discussion Papers 16/2017
BOFIT Discussion Papers 16/2017
This study examines whether changes in CAMEL variables matter in explaining bank closure. Using a unique set of monthly bank-specific balance sheet data from Russia, we estimate determinants of bank license withdrawals ...
Crony banking and local growth in China
(12.05.2017)
BOFIT Discussion Papers 8/2017
BOFIT Discussion Papers 8/2017
The rise of city commercial banks (CCBs) in Chinese cities provides a unique opportunity to study the finance and growth nexus at the city level. Given the notorious inefficiency of China's “Big Four” state banks, policymakers ...
The Renminbi central parity : An empirical investigation
(11.05.2017)
BOFIT Discussion Papers 7/2017
BOFIT Discussion Papers 7/2017
On August 11, 2015, China revamped its procedure for setting the official central parity of the renminbi (RMB) against the US dollar. Our empirical investigation suggests that the intertemporal dynamics of China’s central ...
Privatization and the unusual case of Belarusian accession to the WTO
(14.02.2017)
BOFIT Discussion Papers 2/2017
BOFIT Discussion Papers 2/2017
The accession negotiations of Belarus to the WTO are unusual since, due to its obligations in the Eurasian Economic Union, WTO accession is not expected to impact its tariffs or formerly substantial trade distorting ...
To guide or not to guide? Quantitative monetary policy tools and macroeconomic dynamics in China
(27.02.2017)
BOFIT Discussion Papers 3/2017
BOFIT Discussion Papers 3/2017
This paper discusses the macroeconomic effects of China’s informal banking regulatory tool “win-dow guidance,” introduced in 1998. Using an open-economy DSGE model that includes the com-mercial banking sector, we study the ...
Current accounts and coordination of wage bargaining
(01.12.2017)
BOFIT Discussion Papers 20/2017
BOFIT Discussion Papers 20/2017
This study provides novel evidence on the impact of labor market institutions on current account dynamics. Our results suggest that a high degree of coordination of wage bargaining has a positive effect on the current ...