Financial Stability: an Emerging Markets Perspective

نویسنده

  • José De Gregorio
چکیده

It is a pleasure to participate in this meeting and to speak about the lessons for monetary policy the current crisis is teaching us. The big difference between the current crisis with previous ones in emerging economies is that this time “it was not our fault.” The evidence on the performance of emerging countries facing an unprecedented global downturn shows that some lessons have been properly learned.

برای دانلود رایگان متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

ثبت نام

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

COMMENTARY Monetary Policy and Financial Stability: An Emerging Markets Perspective

The world has endured a deep financial crisis and a great recession. Emerging markets are performing much better than they have in the past, especially in Latin America. The huge difference between the recent crisis and previous ones in emerging economies is that this time ‘it was not our fault’. The evidence from the emerging countries facing this unprecedented global downturn indicates that p...

متن کامل

The Influence of Agency Costs on Dividend Policy in an Emerging Market: Evidence from the Tehran Stock Exchange

Dividend policy has long been an issue of interest in the financial literature. To date, a number of studies published on agency costs and dividend policy but most of them are on developed markets, It is well known that the emerging markets are quite different from developed markets in all respects. So, the existing published evidence is of limited relevance in identifying the influence of agen...

متن کامل

Determinants of Bonanza Episodes and Related Effects on Financial Crises in Emerging Market Countries

Although capital inflows affect positively economies in long-run, it is possible to generate somehow destructive effects if there is no any control on financial markets. This study tries to explore main determinants of large capital inflows episodes to emerging markets. It is also investigated whether the large capital inflows episodes lead to financial crises in forms of sudden stop phenomenon...

متن کامل

Financial stability implications of local currency bond markets: an overview of the risks

Latin American countries have made considerable progress in developing their local currency bond markets. With more sizeable local bond markets come improved efficiency of financial intermediation, diversification of intermediation, reduction in the concentration of risks in the banking sector and financing of fiscal deficits in a non-inflationary manner. In addition, the more developed local c...

متن کامل

Investigation of the market efficiency of emerging stock markets in the East-European region

The presence of stock market efficiency is a distinctive characteristic of the effectively functioning market economy. Investigation of the market efficiency of seven emerging East-European stock exchanges is carried out as their major stock indices (BELEX15, BET, CROBEX, ISE100, PFTS, RTSI, SOFIX) are studied in respect of long-range dependence (LRD), persistency, and forecasting possibili...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

عنوان ژورنال:

دوره   شماره 

صفحات  -

تاریخ انتشار 2009