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  • 1
    Online Resource
    Online Resource
    Are Capital Flows Fickle? Increasingly? And Does the Answer Still Depend on Type? (2017)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (29 p)
    Series Statement: World Bank E-Library Archive
    Parallel Title: Erscheint auch als Eichengreen, Barry Are Capital Flows Fickle? Increasingly? And Does the Answer Still Depend on Type?
    Abstract: According to conventional wisdom, capital flows are fickle. Focusing on emerging markets, this paper asks whether this conventional wisdom still holds in the contemporary world. The results show that, despite recent structural and regulatory changes, much of it survives. FDI inflows are more stable than non-FDI inflows. Within non-FDI inflows, portfolio debt and bank-intermediated flows remain the most volatile. While FDI inflows are driven mainly by pull factors, portfolio debt and equity are driven mainly by push factors; and bank-intermediated flows are driven by a combination of push and pull factors. But capital outflows from emerging markets behave differently. FDI outflows from emerging markets have grown and become significantly more volatile. There is similarly an increase in the volatility of bank-intermediated capital outflows from emerging markets. The findings underscore that outflows from emerging markets, both FDI and bank-related flows, have come to play a growing role and warrant greater attention from analysts and policy makers
    DOI: 10.1596/1813-9450-7972
    URL: Volltext  (Deutschlandweit zugänglich)
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    MPI Ethno. Forsch.
  • 2
    Online Resource
    Online Resource
    Capital flow measures : structural or cyclical policy tools? (2018)
    Washington, D.C. : World Bank Group, Development Economics Vice Presidency, Strategy and Operations Team
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 34 Seiten) , Illustrationen
    Series Statement: Policy research working paper 8418
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Gupta, Poonam Capital Flow Measures: Structural Or Cyclical Policy Tools?
    Keywords: Kapitalverkehrskontrolle ; Geldpolitik ; Schwellenländer ; Graue Literatur
    Abstract: This paper analyzes the use of capital flow measures in emerging markets. Drawing on a specially compiled new database of capital flow measures, it establishes that policy makers in emerging market economies do not use capital flow measures as an active tool at business cycle frequency. While there is a general trend toward the liberalization of capital accounts, the use of capital flow measures as a countercyclical policy tool is rather sporadic. Instead, countries show a distinct preference for using monetary policy, exchange rate adjustments, macro prudential measures, and adjustments in external reserves to modulate the impacts of domestic business cycles, international liquidity cycles, and shocks to capital flows. Regulation of different kinds of capital flows-resident and nonresident flows; inflows and outflows; and foreign direct investment, portfolio, and banking sector flows-is changed infrequently and is acyclical to domestic business and external liquidity cycles
    DOI: 10.1596/1813-9450-8418
    URL: Volltext  (Deutschlandweit zugänglich)
    URL: Deutschlandweit zugänglich
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    MPI Ethno. Forsch.
  • 3
    Online Resource
    Online Resource
    Interest rate caps : the theory and the practice (2018)
    Washington, D.C. : World Bank Group, Finance, Competitiveness and Innovation Global Practice
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 42 Seiten) , Illustrationen
    Series Statement: Policy research working paper 8398
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Ferrari, Aurora Interest Rate Caps: The Theory and The Practice
    Keywords: KMU ; Zinspolitik ; Unternehmensfinanzierung ; Kredit ; Finanzielle Inklusion ; Mikrofinanzierung ; Kenia ; Kambodscha ; Indien ; CFA-Franc-Zone ; Großbritannien ; Graue Literatur
    Abstract: Ceilings on lending rates remain a widely used policy tool that is intended to lower the overall cost of credit or protect consumers from exorbitant rates. Interest rate caps come in many forms and scopes and, according to their rationale, ceilings can affect a small segment or the overall market. Over the past years, many countries have introduced new or tightened existing restrictions, while only a few have removed or eased them. This paper takes stock of recent developments in interest rates caps globally and classifies them according to a novel taxonomy. The paper also presents six case studies of different types of interest rate caps. The case studies indicate that while some forms of interest rate caps can indeed reduce lending rates and help to limit predatory practices by formal lenders, interest rate caps often have substantial unintended side-effects. These side-effects include increases in non-interest fees and commissions, reduced price transparency, lower credit supply and loan approval rates for small and risky borrowers, lower number of institutions and reduced branch density, as well as adverse impacts on bank profitability. Given these potential negative consequences of interest rate caps, the paper discusses alternatives to reduce the cost of credit
    DOI: 10.1596/1813-9450-8398
    URL: Volltext  (Deutschlandweit zugänglich)
    URL: Deutschlandweit zugänglich
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    Online Resource
    MPI Ethno. Forsch.
  • 4
    Online Resource
    Online Resource
    Interest rate repression : a new database (2020)
    [Washington, DC, USA] : World Bank Group, Finance, Competitiveness and Innovation Global Practice
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 25 Seiten) , Illustrationen
    Series Statement: Policy research working paper 9457
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Calice, Pietro Interest Rate Repression: A New Database
    Keywords: Graue Literatur
    Abstract: Financial repression resurfaced in the wake of the global financial crisis and might become a common feature in the post Covid-19 world. To advance knowledge and inform policy advice, this paper presents a new database on interest rate controls, a popular form of financial repression, based on a survey of 108 countries, representing 88 percent of global gross domestic product. The data cover such aspects of interest rate controls as types of controls, legal basis, intended objectives, methodologies, and enforcement rules. In an attempt to provide a meaningful characterization of the data, the paper also provides a preliminarily estimate of the degree of bindingness of the interest rate control regime in a country and presents simple correlations with other financial repression policies
    DOI: 10.1596/1813-9450-9457
    URL: lizenzpflichtig
    URL: Deutschlandweit zugänglich
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    Online Resource
    MPI Ethno. Forsch.
  • 5
    Online Resource
    Online Resource
    Should Emerging Markets Worry about U.S. Monetary Policy Announcements? (2017)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (39 p)
    Series Statement: World Bank E-Library Archive
    Parallel Title: Erscheint auch als Gupta, Poonam Should Emerging Markets Worry about U.S. Monetary Policy Announcements?
    Abstract: This paper analyzes the spillover effects of U.S. monetary policy announcements on emerging market economies since end-2008, the period coinciding with the use of unconventional policy measures. Monetary policy surprises are measured by changes in two-year Treasury yields in short windows of time around the Federal Reserve Board's policy announcements. The analysis finds that U.S. monetary policy surprises have a significant impact on emerging economies' exchange rates, equity prices, and bond yields. The impact is larger for surprise tightening of policy than for surprise easing. The impact is disproportionately larger for large surprises, implying that emerging markets are relatively insulated from anticipated policy announcements. The spillover effects of policy announcements of other advanced economies, such as the euro area, Japan, and United Kingdom, are found to be much weaker than those of the United States
    DOI: 10.1596/1813-9450-8100
    URL: Volltext  (Deutschlandweit zugänglich)
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    MPI Ethno. Forsch.
  • 6
    Online Resource
    Online Resource
    Recent trends in bank privatization (2020)
    [Washington, DC, USA] : World Bank Group, Finance, Competitiveness and Innovation Global Practice
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 35 Seiten) , Illustrationen
    Series Statement: Policy research working paper 9318
    Series Statement: World Bank E-Library Archive
    Series Statement: Policy research working paper
    Parallel Title: Erscheint auch als Bertay, Ata Can Recent Trends in Bank Privatization
    Keywords: Graue Literatur
    Abstract: This paper revisits trends in bank privatization and analyzes their economic impact over the past 25 years. Building on a novel data set of privatization events for 70 developed and developing countries, it shows that bank privatization became more frequent since the Global Financial Crisis, especially in emerging markets such as China and India, but also smaller in that the fraction of a bank's ownership relinquished during privatization events declined. The majority of privatizations happened via public sales in domestic capital markets. The banks that were chosen to be privatized tended to underperform their peers and had weaker asset quality pre-privatization, but the empirical evidence on banks' post-privatization performance is mixed. The paper finds that privatized banks turn toward more traditional banking models and increase credit extension with no apparent negative distributional implications. However, the analysis does not reveal significant differences in bank profitability post-privatization, although differences exist between developed and developing countries. Notably, banks that have been recapitalized prior to privatization perform significantly better afterward privatization
    DOI: 10.1596/1813-9450-9318
    URL: lizenzpflichtig
    URL: Deutschlandweit zugänglich
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    MPI Ethno. Forsch.
  • 7
    Online Resource
    Online Resource
    Interest Rate Repression Around the World (2020)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: World Bank E-Library Archive
    Series Statement: Other papers
    Abstract: Financial repression resurfaced in the wake of the global financial crisis and may become a common feature in the post Coronavirus 2019 (COVID-19) world. To advance knowledge and inform policy advice, this paper presents a new database on interest rate controls, a popular form of financial repression, based on a survey with 108 countries representing 88 percent of global gross domestic product (GDP). The data cover such aspects of interest rate controls as types of controls, legal basis, intended objectives, methodologies, and enforcement rules. In an attempt to provide a meaningful characterization of the data, this paper also provides a preliminarily estimate of the degree of bindingness of the interest rate control regime in a country and presents simple correlations with other financial repression policies. The paper finally discusses general principles of an interest rate management policy that can minimize adverse side effects of binding controls while laying down the basis for a smooth transition or return to market determined interest rates
    DOI: 10.1596/34672
    URL: Deutschlandweit zugänglich
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    MPI Ethno. Forsch.
  • 8
    Online Resource
    Online Resource
    Private and Financial Sector Resilience in the Caribbean : 360 Degree Resilience Background Paper (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other papers
    Keywords: Agriculture ; Climate Change Impacts ; E-Finance and E-Security ; Environment ; Finance and Financial Sector Development ; Financial Crisis Management and Restructuring ; Hazard Risk Management ; Insurance ; Insurance and Risk Mitigation ; Natural Disasters ; Urban Development
    Abstract: The private sector in the Caribbean is crucial for economic growth and job creation and economic resilience is thus heavily determined by the shock absorbing capacity of individual firms and households. As the definition of the private sector is generally broad and includes economic agents of various size operating across different sectors, the assessment conducted in this chapter is multifaceted and considers different elements that determine vulnerabilities and resilience to exogenous shocks. The focus of the analysis is on the private sector's vulnerability to tropical storms, the type of disaster most prevalent in the region, but the discussion of risks and vulnerabilities is also more broadly applied to other types of shocks, such as the COVID-19 pandemic
    DOI: 10.1596/36419
    URL: Deutschlandweit zugänglich
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    MPI Ethno. Forsch.
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