Does Regulatory Governance Matter For Financial System Stability An Empirical Analysis

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Does Regulatory Governance Matter for Financial System Stability? An Empirical Analysis

Udaibir S. Das,Marc Quintyn,Kina Chenard
Does Regulatory Governance Matter for Financial System Stability An Empirical Analysis Book PDF

Author : Udaibir S. Das,Marc Quintyn,Kina Chenard
Publisher : International Monetary Fund
Page : 50 pages
File Size : 46,5 Mb
Release : 2004-05
Category : Business & Economics
ISBN : UCSD:31822032310591

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Does Regulatory Governance Matter for Financial System Stability? An Empirical Analysis by Udaibir S. Das,Marc Quintyn,Kina Chenard Pdf

This paper provides empirical evidence that the quality of regulatory governance-governance practices adopted by financial system regulators and supervisors-matters for financial system soundness. The paper constructs indices of financial system soundness and regulatory governance, based on country data collected from the Financial Sector Assessment Program (FSAP). Regression results indicate that regulatory governance has a significant influence on financial system soundness, along with variables reflecting macroeconomic conditions, the structure of the banking system, and the quality of political institutions and public sector governance. The results also indicate that good public sector governance amplifies the impact of regulatory governance on financial system soundness.

Does Regulatory Governance Matter for Financial System Stability? An Empirical Analysis

Marc Quintyn
Does Regulatory Governance Matter for Financial System Stability An Empirical Analysis Book PDF

Author : Marc Quintyn
Publisher : Unknown
Page : 44 pages
File Size : 47,6 Mb
Release : 2006
Category : Electronic
ISBN : OCLC:1291217195

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Does Regulatory Governance Matter for Financial System Stability? An Empirical Analysis by Marc Quintyn Pdf

This paper provides empirical evidence that the quality of regulatory governance governance practices adopted by financial system regulators and supervisors matters for financial system soundness. The paper constructs indices of financial system soundness and regulatory governance, based on country data collected from the Financial Sector Assessment Program (FSAP). Regression results indicate that regulatory governance has a significant influence on financial system soundness, along with variables reflecting macroeconomic conditions, the structure of the banking system, and the quality of political institutions and public sector governance. The results also indicate that good public sector governance amplifies the impact of regulatory governance on financial system soundness.

Governance, Regulation and Bank Stability

T. Lindblom,S. Sjögren,M. Willesson
Governance Regulation and Bank Stability Book PDF

Author : T. Lindblom,S. Sjögren,M. Willesson
Publisher : Springer
Page : 269 pages
File Size : 42,5 Mb
Release : 2014-07-29
Category : Business & Economics
ISBN : 9781137413543

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Governance, Regulation and Bank Stability by T. Lindblom,S. Sjögren,M. Willesson Pdf

This book provides novel insight into the governance of banks and looks at regulatory measures for strengthening bank stability. It includes empirical studies on the relationship between the board structures of banks and their financial risk-taking and analyses the determinants of bank reputation and the future prospects of small banks.

Basel Compliance and Financial Stability

Mohammad Bitar,Mr.Sami Ben Naceur,Rym Ayadi,Thomas Walker
Basel Compliance and Financial Stability Book PDF

Author : Mohammad Bitar,Mr.Sami Ben Naceur,Rym Ayadi,Thomas Walker
Publisher : International Monetary Fund
Page : 40 pages
File Size : 46,8 Mb
Release : 2017-07-18
Category : Business & Economics
ISBN : 9781484311509

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Basel Compliance and Financial Stability by Mohammad Bitar,Mr.Sami Ben Naceur,Rym Ayadi,Thomas Walker Pdf

The paper provides robust evidence that compliance with Basel Core Principles (BCPs) has a strong positive effect on the Z-score of conventional banks, albeit less pronounced on the Zscore of Islamic banks. Using a sample of banks operating in 19 developing countries, the results appear to be driven by capital ratios, a component of Z-score for the two types of banks. Even though smaller on Islamic banks, individual chapters of BCPs also suggest a positive effect on the stability of conventional banks. The findings support the effective role of BCP standards in improving bank stability, whose important implications led to the Islamic Financial Services Board (IFSB) publication of new recommendations in 2015 to bring BCP standards in line with the Core Principles for Islamic Finance Regulation (CPIFRs) standards. Our findings suggest that because Islamic banks are benchmarked closely to BCPs, the implementation of CPFIRs should also positively affect their stability.

Bank Capital

Ouarda Merrouche,Ms.Enrica Detragiache,Asli Demirgüç-Kunt
Bank Capital Book PDF

Author : Ouarda Merrouche,Ms.Enrica Detragiache,Asli Demirgüç-Kunt
Publisher : International Monetary Fund
Page : 37 pages
File Size : 46,6 Mb
Release : 2010-12-01
Category : Business & Economics
ISBN : 9781455210930

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Bank Capital by Ouarda Merrouche,Ms.Enrica Detragiache,Asli Demirgüç-Kunt Pdf

Using a multi-country panel of banks, we study whether better capitalized banks experienced higher stock returns during the financial crisis. We differentiate among various types of capital ratios: the Basel risk-adjusted ratio; the leverage ratio; the Tier I and Tier II ratios; and the tangible equity ratio. We find several results: (i) before the crisis, differences in capital did not have much impact on stock returns; (ii) during the crisis, a stronger capital position was associated with better stock market performance, most markedly for larger banks; (iii) the relationship between stock returns and capital is stronger when capital is measured by the leverage ratio rather than the risk-adjusted capital ratio; (iv) higher quality forms of capital, such as Tier 1 capital and tangible common equity, were more relevant.

Measuring Regulatory Performance A Practitioner's Guide to Perception Surveys

OECD
Measuring Regulatory Performance A Practitioner s Guide to Perception Surveys Book PDF

Author : OECD
Publisher : OECD Publishing
Page : 88 pages
File Size : 43,5 Mb
Release : 2012-01-16
Category : Electronic
ISBN : 9789264167179

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Measuring Regulatory Performance A Practitioner's Guide to Perception Surveys by OECD Pdf

This guide helps officials use perception surveys for evaluating and communicating progress in regulatory reform. It explains the challenges involved in the design and use of business and citizen perception surveys – and ways to overcome them.

The Regulatory Responses to the Global Financial Crisis

Mr.Stijn Claessens,Ms.Laura E. Kodres
The Regulatory Responses to the Global Financial Crisis Book PDF

Author : Mr.Stijn Claessens,Ms.Laura E. Kodres
Publisher : International Monetary Fund
Page : 39 pages
File Size : 50,9 Mb
Release : 2014-03-14
Category : Business & Economics
ISBN : 9781484335970

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The Regulatory Responses to the Global Financial Crisis by Mr.Stijn Claessens,Ms.Laura E. Kodres Pdf

We identify current challenges for creating stable, yet efficient financial systems using lessons from recent and past crises. Reforms need to start from three tenets: adopting a system-wide perspective explicitly aimed at addressing market failures; understanding and incorporating into regulations agents’ incentives so as to align them better with societies’ goals; and acknowledging that risks of crises will always remain, in part due to (unknown) unknowns – be they tipping points, fault lines, or spillovers. Corresponding to these three tenets, specific areas for further reforms are identified. Policy makers need to resist, however, fine-tuning regulations: a “do not harm” approach is often preferable. And as risks will remain, crisis management needs to be made an integral part of system design, not relegated to improvisation after the fact.

Global Financial Stability Report, October 2019

International Monetary Fund. Monetary and Capital Markets Department
Global Financial Stability Report October 2019 Book PDF

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 109 pages
File Size : 54,8 Mb
Release : 2019-10-16
Category : Business & Economics
ISBN : 9781498324021

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Global Financial Stability Report, October 2019 by International Monetary Fund. Monetary and Capital Markets Department Pdf

The October 2019 Global Financial Stability Report (GFSR) identifies the current key vulnerabilities in the global financial system as the rise in corporate debt burdens, increasing holdings of riskier and more illiquid assets by institutional investors, and growing reliance on external borrowing by emerging and frontier market economies. The report proposes that policymakers mitigate these risks through stricter supervisory and macroprudential oversight of firms, strengthened oversight and disclosure for institutional investors, and the implementation of prudent sovereign debt management practices and frameworks for emerging and frontier market economies.

Global Financial Stability Report, April 2021

International Monetary Fund
Global Financial Stability Report April 2021 Book PDF

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 92 pages
File Size : 52,9 Mb
Release : 2021-04-06
Category : Business & Economics
ISBN : 9781513569673

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Global Financial Stability Report, April 2021 by International Monetary Fund Pdf

Extraordinary policy measures have eased financial conditions and supported the economy, helping to contain financial stability risks. Chapter 1 warns that there is a pressing need to act to avoid a legacy of vulnerabilities while avoiding a broad tightening of financial conditions. Actions taken during the pandemic may have unintended consequences such as stretched valuations and rising financial vulnerabilities. The recovery is also expected to be asynchronous and divergent between advanced and emerging market economies. Given large external financing needs, several emerging markets face challenges, especially if a persistent rise in US rates brings about a repricing of risk and tighter financial conditions. The corporate sector in many countries is emerging from the pandemic overindebted, with notable differences depending on firm size and sector. Concerns about the credit quality of hard-hit borrowers and profitability are likely to weigh on the risk appetite of banks. Chapter 2 studies leverage in the nonfinancial private sector before and during the COVID-19 crisis, pointing out that policymakers face a trade-off between boosting growth in the short term by facilitating an easing of financial conditions and containing future downside risks. This trade-off may be amplified by the existing high and rapidly building leverage, increasing downside risks to future growth. The appropriate timing for deployment of macroprudential tools should be country-specific, depending on the pace of recovery, vulnerabilities, and policy tools available. Chapter 3 turns to the impact of the COVID-19 crisis on the commercial real estate sector. While there is little evidence of large price misalignments at the onset of the pandemic, signs of overvaluation have now emerged in some economies. Misalignments in commercial real estate prices, especially if they interact with other vulnerabilities, increase downside risks to future growth due to the possibility of sharp price corrections.

Nigeria

International Monetary Fund. African Dept.
Nigeria Book PDF

Author : International Monetary Fund. African Dept.
Publisher : International Monetary Fund
Page : 132 pages
File Size : 51,7 Mb
Release : 2013-05-28
Category : Business & Economics
ISBN : 9781484304440

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Nigeria by International Monetary Fund. African Dept. Pdf

This Financial Sector Stability Assessment on Nigeria discusses the macroeconomic performance and structure of the financial system. Although Nigerian economy experienced both domestic and external shocks in recent years, the economy continued to grow rapidly, achieving more than 7 percent growth each year since 2009. The performance of financial institutions has begun to improve, though some of the emergency anti-crisis measures continue to be in place. However, the regulatory and supervisory framework has gaps and weaknesses. In sum, the Nigerian economy has emerged from the banking crisis, and has the potential to enjoy an extended period of strong economic growth.

Creating a Safer Financial System

José Vinãls,Ceyla Pazarbasioglu,Jay Surti,Aditya Narain,Mrs.Michaela Erbenova,Mr.Julian T. S. Chow
Creating a Safer Financial System Book PDF

Author : José Vinãls,Ceyla Pazarbasioglu,Jay Surti,Aditya Narain,Mrs.Michaela Erbenova,Mr.Julian T. S. Chow
Publisher : International Monetary Fund
Page : 27 pages
File Size : 45,5 Mb
Release : 2013-05-14
Category : Business & Economics
ISBN : 9781484340943

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Creating a Safer Financial System by José Vinãls,Ceyla Pazarbasioglu,Jay Surti,Aditya Narain,Mrs.Michaela Erbenova,Mr.Julian T. S. Chow Pdf

The U.S., the U.K., and more recently, the E.U., have proposed policy measures directly targeting complexity and business structures of banks. Unlike other, price-based reforms (e.g., Basel 3 and G-SIFI surcharges), these proposals have been developed unilaterally with material differences in scope, design and implementation schedules. This may exacerbate cross-border regulatory arbitrage and put a further burden on consolidated supervision and cross-border resolution. This paper provides an analysis of the potential implications of implementing different structural policy measures. It proposes a pragmatic and coordinated approach to development of these policies to reduce risk of regulatory arbitrage and minimize unintended consequences. In doing so, it also aims to identify a set of common policy measures that countries could adopt to re-scope bank business models and corporate structures.

Financial Stability, Economic Growth, and the Role of Law

Douglas W. Arner
Financial Stability Economic Growth and the Role of Law Book PDF

Author : Douglas W. Arner
Publisher : Cambridge University Press
Page : 331 pages
File Size : 42,8 Mb
Release : 2007-06-04
Category : Law
ISBN : 9781139464543

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Financial Stability, Economic Growth, and the Role of Law by Douglas W. Arner Pdf

Financial crises have become an all too common occurrence over the past twenty years, largely as a result of changes in finance brought about by increasing internationalization and integration. As domestic financial systems and economies have become more interlinked, weaknesses can significantly impact not only individual economies but also markets, financial intermediaries, and economies around the world. This volume addresses the twin objectives of financial development in the context of financial stability and the role of law in supporting both. Financial stability (frequently seen as the avoidance of financial crisis) has become an objective of both the international financial architecture and individual economies and central banks. At the same time, financial development is now seen to play an important role in economic growth. In both financial stability and financial development, law and related institutions have a central role.

Commonwealth Caribbean Corporate Governance

Suzanne Ffolkes-Goldson
Commonwealth Caribbean Corporate Governance Book PDF

Author : Suzanne Ffolkes-Goldson
Publisher : Routledge
Page : 236 pages
File Size : 54,7 Mb
Release : 2015-10-05
Category : Law
ISBN : 9781317638025

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Commonwealth Caribbean Corporate Governance by Suzanne Ffolkes-Goldson Pdf

Corporate governance initiatives have been developing at a rapid pace in the Commonwealth Caribbean through legislation, case law and codes. Commonwealth Caribbean Corporate Governance offers an overview of current practice and legal developments in corporate governance, highlighting the interpretation of the legislation through case law and the codes of corporate governance which have now been implemented. It also considers the challenges which emerging markets face in an attempt to adopt the corporate governance initiatives of developed markets. This text explores the emergence and development of corporate governance in the region from a range of angles, including the protection and empowerment of shareholders, the impact on government agencies, and the role and responsibilities of directors and officers in companies and in government agencies. Written by a panel of academics, legal practitioners and experts working in business, this book will be an invaluable resource for judges, lawyers, corporate executives and students of business, corporate law and corporate management.

India's Economy

Raj Kapila,Uma Kapila
India s Economy Book PDF

Author : Raj Kapila,Uma Kapila
Publisher : Academic Foundation
Page : 406 pages
File Size : 54,8 Mb
Release : 2006
Category : Business & Economics
ISBN : 8171885810

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India's Economy by Raj Kapila,Uma Kapila Pdf

Featuring 20 articles from leading economic development experts, this collection provides rare insight into the challenges facing India following the country's entry into the world economy. From growth, poverty, and reform to globalization and sectoral developments, the essays address potential problems but coalesce to form an optimistic picture of India's future. A potential root of the nation's current problems--tardy or incomplete policy implementation--is also discussed.

Financial Sector Assessment

World Bank,International Monetary Fund
Financial Sector Assessment Book PDF

Author : World Bank,International Monetary Fund
Publisher : World Bank Publications
Page : 494 pages
File Size : 50,8 Mb
Release : 2005-09-29
Category : Business & Economics
ISBN : 0821364324

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Financial Sector Assessment by World Bank,International Monetary Fund Pdf

The experience of many countries around the world clearly shows that while financial sector development can spur economic growth, financial fragility and instability can seriously harm growth. Following the financial crises of the late 1990s, there has been increasing interest in the systematic assessment of the strengths and weaknesses of financial systems, with the ultimate goal of formulating appropriate policies to foster financial stability, and stimulate financial sector development. Consequently, there has been an increased demand from financial sector authorities in many countries, as well as from the Bank and International Monetary Fund (IMF) staff for information on key issues, and sound practices in the assessment of financial systems, and in the design of policy responses. This Handbook of Financial Sector Assessment is a response to this demand. The Handbook presents an overall analytical framework for assessing financial system stability and developmental needs, providing broad guidance on approaches, methodologies, and techniques of assessing financial systems. Although the Handbook draws substantially on Bank and IMF experience with the financial sector assessment programs (FSAPs), and from the broader policy and operational work in both institutions, it is designed for generic use in financial sector assessments, whether conducted by country authorities themselves, or by Bank and IMF teams. It is, therefore, hoped the Handbook will serve as an authoritative source on the objectives, analytical framework, and methodologies of financial sector assessments, as well as a comprehensive reference book for training on the techniques of such assessments.