Haku
Viitteet 11-20 / 23
From window guidance to interbank rates : Tracing the transition of monetary policy in Japan and China
(21.02.2018)
BOFIT Discussion Papers 4/2018
BOFIT Discussion Papers 4/2018
Monetary policy in most major economies has traditionally focused on control of
the interbank interest rate to achieve an inflation target. Monetary policy in transition economies, in contrast, relied on a mixed system ...
Is Chinese monetary policy forward-looking?
(22.02.2018)
BOFIT Discussion Papers 6/2018
BOFIT Discussion Papers 6/2018
This paper investigates the empirical validity of the claim that China employed a forward-looking monetary policy rule from 2001 to 2016. Survey expectations are used in conjunction with competing money supply and interest ...
In search of fluctuations : Another look at China’s incredibly stable GDP growth
(27.12.2018)
BOFIT Discussion Papers 23/2018
BOFIT Discussion Papers 23/2018
China’s official real GDP growth has held surprisingly stable in recent years. As national GDP figures influence both policy analysis and political decisions, the GDP growth rate of the massive Chinese economy has also ...
Can media and text analytics provide insights into labour market conditions in China?
(20.04.2018)
BOFIT Discussion Papers 9/2018
BOFIT Discussion Papers 9/2018
The official Chinese labour market indicators have been seen as problematic, given their small cyclical movement and their only-partial capture of the labour force. In our paper, we build a monthly Chinese labour market ...
Bank profitability and economic growth
(02.07.2018)
BOFIT Discussion Papers 15/2018
BOFIT Discussion Papers 15/2018
This paper analyses the effect of bank profitability on economic growth. While policymakers have shown major concerns for low levels of bank profitability, there are no empirical studies on the growth effects of bank ...
Learning Chinese? The changing investment behavior of foreign institutions in the Chinese stock market
(19.11.2018)
BOFIT Discussion Papers 19/2018
BOFIT Discussion Papers 19/2018
We analyze preferences of foreign institutional investors in the Chinese stock market in a sample that covers 2003 to 2014. We find foreign investors changed their investment behavior during the sample period from generic ...
The real value of China’s stock market
(19.01.2018)
BOFIT Discussion Papers 2/2018
BOFIT Discussion Papers 2/2018
This paper shows that, counter to common perception, stock prices in China are strongly linked to firm fundamentals. Since the reforms of the early 2000s, stock prices are as informative about future profits as they are ...
Does lending relationship help or alleviate the transmission of liquidity shocks? Evidence from a liquidity crunch in China
(08.05.2018)
BOFIT Discussion Papers 13/2018
BOFIT Discussion Papers 13/2018
We examine China’s June 2013 liquidity crunch as a negative shock to banks and analyze the wealth effects on exchange-listed firms. Our findings suggest that liquidity shocks to financial institutions negatively impact ...
Growing against the background of colonization? Chinese labor market and FDI in a historical perspective
(30.05.2018)
BOFIT Discussion Papers 14/2018
BOFIT Discussion Papers 14/2018
This article investigates how the legacy of colonization shapes the impact of inward FDI on employment in the Chinese labor market. The analysis utilizes provincial panel on overall employment and employment in the service ...
Shock contagion, asset quality and lending behavior
(29.11.2018)
BOFIT Discussion Papers 21/2018
BOFIT Discussion Papers 21/2018
This paper exploits the geopolitical conflict in Eastern Ukraine as a negative shock to banking sector and examines the shock transmission. We find that banks with more loans in the conflict areas during the pre-conflict ...