Liquidity Provision In Transition Economy

Author : Anonim
Publisher : Unknown
Page : 66 pages
File Size : 54,5 Mb
Release : 2004
Category : Electronic
ISBN : 9516869289

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Liquidity Provision in Transition Economy by Anonim Pdf

Author : Nina Budina,Harry Garretsen,Eelke de Jong
Publisher : World Bank Publications
Page : 30 pages
File Size : 44,5 Mb
Release : 2000
Category : Banks and Banking Reform
ISBN : 8210379456XXX

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Liquidity Constraints and Investment in Transition Economies by Nina Budina,Harry Garretsen,Eelke de Jong Pdf

"In Bulgaria and other transition economies, liquidity constraints and hence access to external funds must be seen in the context of soft budget constraints and the financial system's failure to enforce the efficient allocation of funds. Liquidity constraints in Bulgaria may be seen as a sign of financial weakness"--Cover.

Author : Eelke de Jong
Publisher : Unknown
Page : 28 pages
File Size : 52,8 Mb
Release : 2016
Category : Electronic
ISBN : OCLC:1290705068

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Liquidity Constraints and Investment in Transition Economies by Eelke de Jong Pdf

In Bulgaria and other transition economies, liquidity constraints and hence access to external funds must be seen in the context of soft budget constraints and the financial system's failure to enforce the efficient allocation of funds. Liquidity constraints in Bulgaria may be seen as a sign of financial weakness. Budina, Garretsen, and de Jong use firm level data on Bulgaria to investigate the impact of liquidity constraints on firms' investment performance.Internal funds are an important determinant of investment in most industrial economies. The authors use a simple accelerator model of investment to test whether liquidity constraints are relevant in Bulgaria's case. Their estimates are based on data for 1993-95, before Bulgaria's financial crisis of 1996-97. It turns out that Bulgarian firms are liquidity-constrained and that firms' size and financial structure help to distinguish between firms that are more and less liquidity-constrained.In the authors' view, liquidity constraints in transition economies should be interpreted in different ways than those in industrial economies. In Bulgaria, liquidity constraints and hence access to external funds should be seen in the context of soft budget constraints and the financial system's failure to enforce the efficient allocation of funds. The relationship between liquidity constraints and firm characteristics may actually be the opposite of what is normally the case in industrial countries. In Bulgaria, lack of liquidity constraints may be a sign of financial weakness.This paper - a product of Macroeconomics and Growth, Development Research Group - is part of a larger effort in the group to study transition economies.

Author : Anna Meyendorff,Anjan V. Thakor
Publisher : MIT Press
Page : 340 pages
File Size : 51,5 Mb
Release : 2002
Category : Business & Economics
ISBN : 0262133911

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Designing Financial Systems in Transition Economies by Anna Meyendorff,Anjan V. Thakor Pdf

This collection examines the design of financial systems for central and eastern European countries engaged in the transition to market-based economies. It highlights the need for better approaches to measuring performance and providing incentives in banking and for financial mechanisms to encourage private-sector growth. Written by leading European and North American scholars, the essays apply modern finance theory and empirical data to the development of new financial sectors.

Author : Thierry Foucault,Ohad Kadan,Eugene Kandel
Publisher : Unknown
Page : 76 pages
File Size : 50,8 Mb
Release : 2001
Category : Liquidity (Economics)
ISBN : UVA:X006132549

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Limit Order Book as a Market for Liquidity by Thierry Foucault,Ohad Kadan,Eugene Kandel Pdf

Author : Bengt Holmstrom,Jean Tirole
Publisher : MIT Press
Page : 263 pages
File Size : 51,7 Mb
Release : 2013-01-11
Category : Business & Economics
ISBN : 9780262518536

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Inside and Outside Liquidity by Bengt Holmstrom,Jean Tirole Pdf

Two leading economists develop a theory explaining the demand for and supply of liquid assets. Why do financial institutions, industrial companies, and households hold low-yielding money balances, Treasury bills, and other liquid assets? When and to what extent can the state and international financial markets make up for a shortage of liquid assets, allowing agents to save and share risk more effectively? These questions are at the center of all financial crises, including the current global one. In Inside and Outside Liquidity, leading economists Bengt Holmström and Jean Tirole offer an original, unified perspective on these questions. In a slight, but important, departure from the standard theory of finance, they show how imperfect pledgeability of corporate income leads to a demand for as well as a shortage of liquidity with interesting implications for the pricing of assets, investment decisions, and liquidity management. The government has an active role to play in improving risk-sharing between consumers with limited commitment power and firms dealing with the high costs of potential liquidity shortages. In this perspective, private risk-sharing is always imperfect and may lead to financial crises that can be alleviated through government interventions.

Author : Jens Hölscher,Horst Tomann
Publisher : Springer
Page : 589 pages
File Size : 47,8 Mb
Release : 2015-10-21
Category : Business & Economics
ISBN : 9781137371386

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Palgrave Dictionary of Emerging Markets and Transition Economics by Jens Hölscher,Horst Tomann Pdf

The period of transition from socialism to capitalism in parts of Europe and Asia over the past 25 years has attracted considerable interest in academia and beyond. From the Editors of Palgrave's iconic series 'Studies in Economic Transition' comes the Palgrave Dictionary of Emerging Markets and Transition Economics. This dictionary addresses the needs of students, lecturers and the interested general public to quickly find definitions and explanations of topics, institutions, personalities and processes in this historical phase of changing societies, which as such is not concluded. Today newly emerging market economies try to learn from the experiences of transition economies. Those who love The New Palgrave Dictionary of Economics will enjoy the format of this Dictionary, which uses an encyclopaedia-based approach, where articles not only define the terms but provide an overview of the evolution of the term or theory and also touch on the current debates.

Author : Giovanni Capannelli,Jayant Menon
Publisher : Asian Development Bank
Page : 439 pages
File Size : 54,5 Mb
Release : 2009-12-01
Category : Business & Economics
ISBN : 9789292547509

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Dealing with Multiple Currencies in Transitional Economies by Giovanni Capannelli,Jayant Menon Pdf

This study, conducted by a team of economists from the Asian Development Bank, academics, and personnel from Cambodia, the Lao People's Democratic Republic, and Viet Nam (the CLV countries) finance ministries and central banks, explores the issues of multiple currencies and regional monetary cooperation among the economies of the Association of Southeast Asian Nations (ASEAN) in the context of increasing regional economic interdependence. It reviews the main issues related to the monetary and exchange rate policy decisions taken by CLV national authorities, and discusses the options and opportunities available for enhancing monetary and financial stability in the ASEAN region.

Author : Thorsten Beck,Barbara Casu
Publisher : Springer
Page : 678 pages
File Size : 46,7 Mb
Release : 2017-01-12
Category : Business & Economics
ISBN : 9781137521446

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The Palgrave Handbook of European Banking by Thorsten Beck,Barbara Casu Pdf

This handbook presents a timely collection of original studies on relevant themes, policies and developments in European banking. The contributors analyse how the crisis years have had a long lasting impact on the structure of European banking and explore the regulatory architecture that has started to take form in their wake. Academic experts and senior policy makers have contributed to this volume, which is organized in five main parts. The first part presents an overview of European banking through the crisis and beyond. The second part analyses performance and innovation in EU banking markets. The third part discusses the key regulatory changes aimed at fostering financial stability. Part four looks at the relevance of cross-border banking and part five presents a detailed analysis of the main EU banking markets. This is a highly informative and carefully presented handbook, which provides thought-provoking insights into the past, present and future landscapes of European banking. It will appeal to a wide readership, from scholars and students, through to researchers, practitioners and policy-makers.

Author : Y. Kalyuzhnova,M. Taylor
Publisher : Springer
Page : 256 pages
File Size : 45,7 Mb
Release : 2001-07-19
Category : Business & Economics
ISBN : 9781403905390

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Transitional Economies by Y. Kalyuzhnova,M. Taylor Pdf

The integration of the countries of Central and Eastern Europe and the Commonwealth of Independent States international financial system was arguably one of the most profound changes experienced by the world economy in the 1990s. This book examines these countries in reforming their financial systems in the first decade of transition. Through case studies as well as more thematic approaches contributors deal with crucial elements of building a market-based financial system, the transformation of the banking sector, and non-bank reform and regulation of financial markets. They emphasise the importance of institution-building to the process of financial sector transformation and highlight the lessons to be learned from transitional financial experiences.

Author : Michael J. Lea,Bertrand Renaud
Publisher : World Bank Publications
Page : 68 pages
File Size : 45,6 Mb
Release : 1995
Category : Electronic
ISBN : 8210379456XXX

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Contractual savings for housing : how suitable are they for transitional economies? by Michael J. Lea,Bertrand Renaud Pdf

Author : Saumitra Bhaduri,Ekta Selarka
Publisher : Cambridge University Press
Page : 253 pages
File Size : 46,6 Mb
Release : 2022-10-31
Category : Business & Economics
ISBN : 9781009225465

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Maladies of the Indian Banking Sector by Saumitra Bhaduri,Ekta Selarka Pdf

"The global financial crisis of 2007-09 highlighted the importance of capital structure for the economy as a whole and for individual firms as well. The ensuing credit and profitability crunch due to the contraction of the global economy made it vitally imperative to understand how the capital structure choices of the firms are affected and what impact these choices have on the functioning of the markets. Since, like in most emerging countries, the capital structure of Indian firms is dominated by bank borrowing, it has become important to understand the role of bank borrowing in a larger context. Maladies of the Indian Banking Sector provides an in-depth analysis of bank credit allocation to non-financial companies in the Indian corporate sector over a long period of 28 years. The authors also conduct a micro-level analysis in the backdrop of recent banking scams in the country which exposed the fragility and quality of the banks' governance in reducing misappropriation of bank credit. The book brings a broader perspective to assess whether weak banks are rolling over their loans to less-deserving firms and tending to avoid declaring them as non-performing assets (NPAs). It contributes to understanding the nature of the maladies beyond the conventional approach of studying the trends in NPAs and provides a deeper insight into the structural challenges that determine the allocation of bank credit in the economy and of capital formation at large"--

Author : Gerald P. Dwyer
Publisher : Edward Elgar Publishing
Page : 248 pages
File Size : 46,5 Mb
Release : 2002-01-01
Category : Business & Economics
ISBN : 1781957142

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Monetary Policy and Taiwan's Economy by Gerald P. Dwyer Pdf

Monetary Policy and Taiwan's Economy questions whether the Asian crisis could have been avoided through the application of recommendations highlighted by the contributors. The conclusion reached is that in an abstract world, perhaps; but in the world in which we live; no. It is argued that the proposals made could certainly contribute to improved policy, albeit effecting marginal improvements rather than ground breaking changes. The contributors demonstrate that proficient monetary policy and banking regulation can be achieved through sound economic analysis that takes into account: * monetary aggregates in monetary policy * the role of exchange rate policies in the Asian crisis * the relationship between the exchange rate, capital flows and central bank intervention * similarities between the restructuring of banking systems in Asia and in Eastern Europe following the fall of communism.

Author : OECD
Publisher : OECD Publishing
Page : 288 pages
File Size : 47,5 Mb
Release : 2000-02-11
Category : Electronic
ISBN : 9789264180642

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Financing Newly Emerging Private Enterprises in Transition Economies by OECD Pdf

This conference proceedings contains studies on schemes for financing new enterprises in transition economies, including credit guarantees, leasing, venture capital and capital market operations, as well as public schemes.

Author : Anonim
Publisher : Unknown
Page : 246 pages
File Size : 51,5 Mb
Release : 1996
Category : Central and Eastern European Interparliamentary Seminar
ISBN : PSU:000025917925

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Parliamentary Responsibility for Economic Transition in Central and Eastern Europe by Anonim Pdf