Haku
Viitteet 1-10 / 31
The role of the bank lending channel and impacts of stricter capital requirements on the Chinese banking industry
(09.05.2013)
BOFIT Discussion Papers 7/2013
BOFIT Discussion Papers 7/2013
This paper focuses on the role the bank lending channel in transmission of monetary policy in China. Using unbalanced quarterly panel data from 2Q2000 to 4Q2011, a one-step GMM estimator is applied to establish the existence ...
On the use of sterilisation bonds in emerging Asia
(18.01.2013)
BOFIT Discussion Papers 1/2013
BOFIT Discussion Papers 1/2013
We document recent developments in the use of sterilisation bonds by six central banks in emerging Asia, and discuss the implications for monetary policy and the financial sector. An important development in the sterilisation ...
Impact of exchange rate move-ments on exports : An analysis of Indian non-financial sector firms
(27.05.2013)
BOFIT Discussion Papers 10/2013
BOFIT Discussion Papers 10/2013
We explore the real effective exchange rate (REER) effects on the share of exports of Indian non-financial sector firms for the period 2000 to 2010. Our empirical analysis reveals that, on average, there has been a strong ...
China's RMB bilateral swap agreements : What explains the choice of countries?
(04.06.2013)
BOFIT Discussion Papers 12/2013
BOFIT Discussion Papers 12/2013
This paper analyzes empirically what determines the choice of countries signing an RMB-denominated Bilateral Swap Agreement (BSA) with China. The gravity motif is predominant (both in terms of country size and distance ...
Is mining fuelling long-run growth in Russia? : Industry productivity growth trends since 1995
(12.08.2013)
BOFIT Discussion Papers 19/2013
BOFIT Discussion Papers 19/2013
GDP per capita growth rates in Russia have been among the highest in the world since the mid?1990s. Previous growth accounting research suggests that this was mainly driven by multi-factor productivity (MFP) growth. In ...
Market discipline during crisis : Evidence from bank depositors in transition countries
(14.08.2013)
BOFIT Discussion Papers 21/2013
BOFIT Discussion Papers 21/2013
The Central European banking industry is dominated by foreign-owned banks. During the recent crisis, for the first time since the transition, foreign parent companies were frequently in a worse financial condition than ...
Does excessive liquidity creation trigger bank failures?
(23.01.2013)
BOFIT Discussion Papers 2/2013
BOFIT Discussion Papers 2/2013
This paper introduces the "Excessive Liquidity Creation Hypothesis," whereby a rise in a bank's core liquidity creation activity increases its probability of failure. Russia experienced many bank failures over the past ...
Exchange market pressures during the financial crisis : A Bayesian model averaging evidence
(03.06.2013)
BOFIT Discussion Papers 11/2013
BOFIT Discussion Papers 11/2013
In this paper, we examine whether pre-crisis leading indicators help explain pressures on the exchange rate (and its volatility) during the global financial crisis. We use a unique data set that covers 149 countries and ...
Trade reforms and current account imbalances
(05.09.2013)
BOFIT Discussion Papers 25/2013
BOFIT Discussion Papers 25/2013
In partial equilibrium, a reduction in import barriers may be thought to lead to an increase in imports and a reduction in trade surplus. However, the general equilibrium effect can go in the opposite direction. We study ...
The regime-dependent evolution of credibility : A fresh look at Hong Kong s linked exchange rate system
(04.09.2013)
BOFIT Discussion Papers 24/2013
BOFIT Discussion Papers 24/2013
An estimated Markov-switching DSGE modelling framework that allows for parameter shifts across regimes is employed to test the hypothesis of regime-dependent credibility of Hong Kong's linked exchange rate system. The model ...