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International Finance x Financial Regulation x clear all

Are All the Sacred Cows Dead? Implications of the Financial Crisis for Macro- and Financial Policies

Aslı Demirgüç-Kunt and Luis Servén.

in The World Bank Research Observer

February 2010; p ublished online February 2010 .

Journal Article. Subjects: Economics; Monetary Policy, Central Banking, and the Supply of Money and Credit; International Finance; Financial Regulation; Banking; Corporate Governance. 14710 words.

The recent global financial crisis has shaken the confidence of industrial and developing countries alike in the very blueprint of the financial and macropolicies that underlie the Western...

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Capital-Market Effects of Securities Regulation: Prior Conditions, Implementation, and Enforcement

Hans B. Christensen, Luzi Hail and Christian Leuz.

in The Review of Financial Studies

November 2016; p ublished online July 2016 .

Journal Article. Subjects: International Finance; International Financial Markets; Financial Regulation; Corporate Governance; Law and Economics; Accounting. 20691 words.

We examine the capital-market effects of changes in securities regulation in the European Union aimed at reducing market abuse and increasing transparency. To estimate causal effects for...

The Conditional Effects of Market Power on Bank Risk—Cross-Country Evidence

Jens Forssbæck and Choudhry Tanveer Shehzad.

in Review of Finance

August 2015; p ublished online October 2014 .

Journal Article. Subjects: Financial Regulation; Banking; International Finance; Market Structure and Pricing. 13603 words.

We investigate the relationship between market power and risk for a large panel of banks worldwide. Loan and deposit market power are measured separately at bank-year level, and the risk...

Credit Constraints, Heterogeneous Firms, and International Trade

Kalina Manova.

in The Review of Economic Studies

April 2013; p ublished online November 2012 .

Journal Article. Subjects: International Trade; Financial Regulation; Financial Institutions and Services; Corporate Governance; International Finance. 16775 words.

Financial market imperfections severely restrict international trade flows because exporters require external capital. This article identifies and quantifies the three mechanisms through...

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Deadly Embrace: Sovereign and Financial Balance Sheets Doom Loops

Emmanuel Farhi and Jean Tirole.

in The Review of Economic Studies

July 2018; p ublished online October 2017 .

Journal Article. Subjects: International Finance; Financial Regulation; National Budget, Deficit, and Debt. 22902 words.

Abstract

The recent unravelling of the Eurozone’s financial integration raised concerns about feedback loops between sovereign and banking insolvency. This...

Domestic Bond Market Development: The Arirang Bond Experience in Korea

Jonathan A. Batten and Peter G. Szilagyi.

in The World Bank Research Observer

January 2007; p ublished online September 2007 .

Journal Article. Subjects: Financial Regulation; International Finance. 11651 words.

This study contrasts the development of the Republic of Korea's market for won-denominated foreign bonds (Arirang) with similar markets in the Asia-Pacific region. It discusses the...

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Europe after the crisis: less or more role for nation states in money and finance?

André Sapir.

in Oxford Review of Economic Policy

December 2011; p ublished online December 2011 .

Journal Article. Subjects: Financial Regulation; International Finance. 6317 words.

With the completion of the single European market and the full liberalization of capital markets two separate trilemmas emerged in the early 1990s: a monetary trilemma between free capital...

Financial Development: Maturing and Emerging Policy Issues

Augusto de la Torre, Juan Carlos Gozzi and Sergio L. Schmukler.

in The World Bank Research Observer

January 2007; p ublished online May 2007 .

Journal Article. Subjects: Financial Institutions and Services; Financial Regulation; International Financial Markets; International Finance. 12629 words.

In recent decades, financial development policies in emerging market economies have been shaped by a fundamental shift toward market-based financial systems and the lessons from financial...

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How Law Affects Lending

Rainer Haselmann, Katharina Pistor and Vikrant Vig.

in The Review of Financial Studies

February 2010; p ublished online September 2009 .

Journal Article. Subjects: International Finance; Banking; Financial Regulation; Bankruptcy; Law and Economics. 13695 words.

The paper investigates the effect of legal change on the lending behavior of banks in twelve transition economies. First, we find that banks increase the supply of credit subsequent to...

Learning from History: Volatility and Financial Crises

Jon Danielsson, Marcela Valenzuela and Ilknur Zer.

in The Review of Financial Studies

July 2018; p ublished online April 2018 .

Journal Article. Subjects: International Finance; Macroeconomic Aspects of International Trade and Finance; Economics; Financial Regulation; Macroeconomics and Monetary Economics; Growth and Fluctuations. 15176 words.

Abstract

We study the effects of stock market volatility on risk-taking and financial crises by constructing a cross-country database spanning up to 211 years...

A Measure of Pure Home Bias

Ian A Cooper, Piet Sercu and Rosanne Vanpée.

in Review of Finance

July 2018; p ublished online March 2017 .

Journal Article. Subjects: International Financial Markets; Financial Regulation; Corporate Governance; Corporate Regulation; International Finance. 17031 words.

Abstract

The literature on international equity holdings distinguishes between home bias (overweighting of home stocks) and foreign bias (relative...

On the Growth Effect of Stock Market Liberalizations

Nandini Gupta and Kathy Yuan.

in The Review of Financial Studies

November 2009; p ublished online February 2009 .

Journal Article. Subjects: Prices, Business Fluctuations, and Cycles; International Finance; Macroeconomic Aspects of International Trade and Finance; International Financial Markets; Financial Regulation. 15689 words.

We investigate the effect of a stock market liberalization on industry growth in emerging markets. Consistent with the view that liberalization reduces financing constraints, we find that...

Running for the Exit? International Bank Lending During a Financial Crisis

Ralph De Haas and Neeltje Van Horen.

in The Review of Financial Studies

January 2013; p ublished online November 2012 .

Journal Article. Subjects: International Finance; Macroeconomic Aspects of International Trade and Finance; International Relations and International Political Economy; International Financial Markets; Financial Regulation. 19381 words.

We use loan-level data to examine how large international banks reduced their cross-border lending after the collapse of Lehman Brothers. Country, firm, and bank fixed effects allow us to...

Too Many to Fail? Evidence of Regulatory Forbearance When the Banking Sector Is Weak

Craig O. Brown and I. Serdar Dinç.

in The Review of Financial Studies

April 2011; p ublished online April 2011 .

Journal Article. Subjects: Monetary Policy, Central Banking, and the Supply of Money and Credit; International Finance; Banking; Financial Regulation. 14035 words.

This article studies bank failures in twenty-one emerging market countries in the 1990s. By using a competing risk hazard model for bank survival, we show that a government is less likely...

What Segments Equity Markets?

Geert Bekaert, Campbell R. Harvey, Christian T. Lundblad and Stephan Siegel.

in The Review of Financial Studies

December 2011; p ublished online October 2011 .

Journal Article. Subjects: International Finance; International Financial Markets; Financial Regulation. 21362 words.

We propose a new, valuation-based measure of world equity market segmentation. While we observe decreased levels of segmentation in many countries, the level of segmentation remains...