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Article

Pierre‐Richard Agénor

Develops and tests a monetary model of the parallel market forforeign exchange which incorporates forward‐looking expectations andcurrency substitution features…

Abstract

Develops and tests a monetary model of the parallel market for foreign exchange which incorporates forward‐looking expectations and currency substitution features. Econometric results using quarterly data for a group of 12 developing countries show that changes in official exchange rates and monetary disequilibria are the major determinants of the behaviour of parallel exchange rates. Changes in expected rates of return on domestic and foreign currency play a significant role only in middle‐income economies.

Details

Journal of Economic Studies, vol. 18 no. 4
Type: Research Article
ISSN: 0144-3585

Keywords

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Book part

Pierre-Richard Agénor and Luiz A. Pereira da Silva

Purpose – To discuss, from the perspective of developing countries, recent proposals for reforming international standards for bank capital requirements.

Abstract

Purpose – To discuss, from the perspective of developing countries, recent proposals for reforming international standards for bank capital requirements.

Methodology/approach – After evaluating, from the viewpoint of developing countries, the effectiveness of capital requirements reforms and progress in implementing existing regulatory accords, the chapter discusses the procyclical effects of Basel regimes, and suggests a reform proposal.

Findings – Minimum bank capital requirements proposals in developing countries should be complemented by the adoption of an incremental, size-based leverage ratio.

Originality/value of chapter – This chapter contributes to enlarge the academic and policy debate related to bank capital regulation, with a particular focus on the situation of developing countries.

Details

International Banking in the New Era: Post-Crisis Challenges and Opportunities
Type: Book
ISBN: 978-1-84950-913-8

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Abstract

Details

International Banking in the New Era: Post-Crisis Challenges and Opportunities
Type: Book
ISBN: 978-1-84950-913-8

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Book part

Suk-Joong Kim and Michael D. McKenzie

International banking refers to the activities of providing financial services (banking) to clients (both institutional and individual) located in many different…

Abstract

International banking refers to the activities of providing financial services (banking) to clients (both institutional and individual) located in many different countries. This encompasses a wide range of activities, including transactions with foreigners and domestic residents relating to deposits and lending in domestic and foreign currencies, facilitating foreign currency transactions and foreign exchange risk hedging, participating in international loan syndications, and facilitating international trade finance for clients.

Details

International Banking in the New Era: Post-Crisis Challenges and Opportunities
Type: Book
ISBN: 978-1-84950-913-8

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Article

M. Kabir Hassan

Summarizes the net capital flows from industrial to developing/transitional countries 1970‐1996 and recent changes in their equity and bond markets; and identifies the…

Abstract

Summarizes the net capital flows from industrial to developing/transitional countries 1970‐1996 and recent changes in their equity and bond markets; and identifies the factors affecting these portfolio flows and risk/return behaviour in OIC stock markets. Uses monthly stock return data from ten OIC countries to demonstrate that despite their volatility they might offer opportunities for portfolio diversification; and uses cointegration methods to investigate the dynamic relationships between them. Discusses the causes of the Asian currency crisis and its impact on these stock marekts; and considers what trade and development policies OIC countries should adopt to improve their economies.

Details

Managerial Finance, vol. 29 no. 2/3
Type: Research Article
ISSN: 0307-4358

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