Download or read book Depositor Behavior and Market Discipline in Colombia written by Mr.Adolfo Barajas and published by INTERNATIONAL MONETARY FUND. This book was released on 2000-12-01 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines how depositors choose among different banks and over time in Colombia, focusing on whether they discipline bank behavior. By controlling for a more comprehensive set of risk/return factors, the study improves upon conventional market discipline tests. Panel data estimations for 1985-99 show that depositors prefer banks with stronger fundamentals, and that banks tend to improve their fundamentals after being “punished” by depositors. Banks with stronger fundamentals benefit from lower interest costs and higher lending rates. Market (or “regulatory”) discipline therefore appears to exist in Colombia, perhaps thanks to certain key design features of the deposit insurance scheme.
Download or read book Depositor Behavior and Market Discipline in Colombia written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The International Monetary Fund (IMF) presents the full text of the December 2000 paper entitled "Depositor Behavior and Market Discipline in Colombia," written by Adolfo Barajas and Roberto Steiner. The text is available in PDF format and the paper is part of the IMF's Working Paper series. This paper examines how depositors choose among different banks and over time in Colombia, focusing on whether they discipline bank behavior.
Download or read book Depositor Behavior and Market Discipline in Colombia written by Adolfo Barajas E. and published by . This book was released on 2001 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Depositor Behavior and Market Discipline in Colombia written by Adolfo Barajas and published by . This book was released on 2000 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines how depositors choose among different banks and over time in Colombia, focusing on whether they discipline bank behavior. By controlling for a more comprehensive set of risk/return factors, the study improves upon conventional market discipline tests. Panel data estimations for 1985-99 show that depositors prefer banks with stronger fundamentals, and that banks tend to improve their fundamentals after being "punished" by depositors. Banks with stronger fundamentals benefit from lower interest costs and higher lending rates. Market (or "regulatory") discipline therefore appears to exist in Colombia, perhaps thanks to certain key design features of the deposit insurance scheme
Download or read book Depositor Behavior and Marked Discipline in Colombia written by Fundación para la Promoción de la Investigación y la Tecnología and published by . This book was released on 2000 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Market Discipline Under Systemic Risk written by Eduardo Levy Yeyati and published by World Bank Publications. This book was released on 2004 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Levy-Yeyati, Martinez Peria, and Schmukler show that systemic risk exerts a significant impact on the behavior of depositors, sometimes overshadowing their responses to standard bank fundamentals. Systemic risk can affect market discipline both regardless of and through bank fundamentals. First, worsening systemic conditions can directly threaten the value of deposits by way of dual agency problems. Second, to the extent that banks are exposed to systemic risk, systemic shocks lead to a future deterioration of fundamentals not captured by their current values. Using data from the recent banking crises in Argentina and Uruguay, the authors show that market discipline is indeed quite robust once systemic risk is factored in. As systemic risk increases, the informational content of past fundamentals declines. These episodes also show how few systemic shocks can trigger a run irrespective of ex-ante fundamentals. Overall, the evidence suggests that in emerging economies, the notion of market discipline needs to account for systemic risk. This paper--a product of the Finance Team, Development Research Group--is part of a larger effort in the group to study market discipline"--World Bank web site.
Download or read book Market Discipline Across Countries and Industries written by C. E. V. Borio and published by MIT Press. This book was released on 2004 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading academics and policymakers address the theory of market discipline and consider evidence across different industries and countries. The effectiveness of market discipline -- the strong built-in incentives that encourage banks and financial systems to operate soundly and efficiently -- commands much attention today, particularly in light of recent accounting scandals. As government discipline, in the form of regulation, seems to grows less effective as the banking industry and financial markets grow more complex, the role of market discipline becomes increasingly important. In this collection, which grew out of a conference cosponsored by the Federal Reserve Bank of Chicago and the Bank for International Settlements in Basel, Switzerland, a diverse group of academics and policymakers address different aspects of the ability of market discipline to affect corporate behavior and performance. A major purpose of the book is to develop evidence on how market discipline operates across non-government regulated industries and in different countries, how successful it has been, and how it may transfer to a regulated industry. The chapters examine such topics as the theory of market discipline, evidence of market discipline in banking and other industries, evidence of market discipline for countries, the current state of corporate governance, and the interaction of market discipline and public policy.
Download or read book Deposit Insurance and Depositor Behavior Evidence from Colombia written by Nicolás de Roux and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Panel Data Econometrics written by Mike Tsionas and published by Academic Press. This book was released on 2019-06-20 with total page 1011 pages. Available in PDF, EPUB and Kindle. Book excerpt: Panel Data Econometrics: Empirical Applications introduces econometric modelling. Written by experts from diverse disciplines, the volume uses longitudinal datasets to illuminate applications for a variety of fields, such as banking, financial markets, tourism and transportation, auctions, and experimental economics. Contributors emphasize techniques and applications, and they accompany their explanations with case studies, empirical exercises and supplementary code in R. They also address panel data analysis in the context of productivity and efficiency analysis, where some of the most interesting applications and advancements have recently been made. Provides a vast array of empirical applications useful to practitioners from different application environments Accompanied by extensive case studies and empirical exercises Includes empirical chapters accompanied by supplementary code in R, helping researchers replicate findings Represents an accessible resource for diverse industries, including health, transportation, tourism, economic growth, and banking, where researchers are not always econometrics experts
Download or read book Potential of market discipline in Pakistan written by Mirza, Nawazish and published by Intl Food Policy Res Inst. This book was released on 2016-04-15 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this research is to ascertain whether Pakistan’s financial system is conducive to market discipline. We measure the potential of depositors to induce market discipline in the commercial banking sector. A comprehensive survey of over six thousand respondents was used to gauge their propensity to discipline bank management in response to deteriorating financial conditions. Our results portray that depositors are likely to withdraw funds in response to a reduction in profitability, an increase in non-performing loans, and a reduction in total assets. We identify that banks with better service quality are less sensitive to deposit withdrawals in the event of a reduction in their financial performance. Among other findings, the presence of contractual guarantees by the government desensitizes depositors to market information, making them less likely to be involved in imposing market discipline.
Download or read book Economia Fall 2004 Journal of the Latin American and Caribbean Economic Association written by Andres Velasco and published by Brookings Institution Press. This book was released on 2005-01-01 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: This semiannual journal from the Latin American and Caribbean Economic Association (LACEA) provides a forum for influential economists and policymakers to share high-quality research directly applied to policy issues within and among those countries.Contents Include: The Impact of the Basel Accord on Bank Credit Growth: A Cross-Country Study Ralph Chami and Adolfo Barajas (IMF) and Thomas Cosimano (University of Notre DameDistributional Effects of Crises: The Financial Channel Marina Halac and Sergio L. Schmukler (World Bank)Growth and Adjustment in East Asia and Latin America José De Gregorio (Banco Central de Chile) and Jong-Wha Lee (Korea University) Labor Market Adjustment in Chile Kevin Cowan, Alejandro Micco, and Carmen Pages (IADB)A Menu of Minimum Wage Variables for Evaluating Wage and Employment Effects: Evidence from Brazil Sara Lemos (University of Leicester)
Download or read book Forecasting Financial Markets in India written by Rudra Prakash Pradhan and published by Allied Publishers. This book was released on 2009 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: Papers presented at the Forecasting Financial Markets in India, held at Kharagpur during 29-31 December 2008.
Download or read book Market Discipline and Conflicts of Interest Between Banks and Pension Funds written by Mr.Adolfo Barajas and published by International Monetary Fund. This book was released on 2011-12-01 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the behavior of private pension funds as large depositors in a banking system. Using panel data analysis, we examine whether, and if so how, pension funds influence market discipline in Argentina in the period 1998-2001. We find evidence that pension funds exert market discipline and this discipline gets stronger as the share of pension fund deposits in a bank rises. However, conflicts of interest undermine the disciplining role of pension funds. Specifically, pension funds allocate deposits to banks with weak fundamentals that own pension fund management companies. We conclude that forbidding banks' ownership of companies involved in pension fund management can enhance market discipline.
Download or read book Can the Unsophisticated Market Provide Discipline written by Gerard Caprio and published by . This book was released on 2004 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Countries should build on this potential for market discipline by limiting the role of explicit deposit guarantees, reducing state ownership of banks where it is prevalent, and not putting all their eggs in the supervisory basket. Greater disclosure, for example, of how risk taking is rewarded and how rating agencies earn their fees would support the development of better market monitoring. Enhancing market discipline (pillar three) is much more likely to be of use in most developing countries than addressing the refinements of the risk-weighting system of Basel II's first pillar"--Abstract.
Download or read book Cryptoassets written by Chris Brummer and published by Oxford University Press. This book was released on 2019-09-12 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cryptoassets represent one of the most high profile financial products in the world, and fastest growing financial products in history. From Bitcoin, Etherium and Ripple's XRP-so called "utility tokens" used to access financial services-to initial coin offerings that in 2017 rivalled venture capital in money raised for startups, with an estimated $5.6 billion (USD) raised worldwide across 435 ICOs. All the while, technologists have hailed the underlying blockchain technology for these assets as potentially game changing applications for financial payments and record-keeping. At the same time, cryptoassets have produced considerable controversy. Many have turned out to be lacklustre investments for investors. Others, especially ICOs, have also attracted noticeable fraud, failing firms, and alarming lapses in information-sharing with investors. Consequently, many commentators around the world have pressed that ICO tokens be considered securities, and that concomitant registration and disclosure requirements attach to their sales to the public. This volume assembles an impressive group of scholars, businesspersons and regulators to collectively write on cryptoassets. This volume represents perspectives from across the regulatory ecosystem, and includes technologists, venture capitalists, scholars, and practitioners in securities law and central banking.
Download or read book Casting Light on Central Bank Digital Currencies written by Mr.Tommaso Mancini Griffoli and published by International Monetary Fund. This book was released on 2018-11-12 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: Digitalization is reshaping economic activity, shrinking the role of cash, and spurring new digital forms of money. Central banks have been pondering wheter and how to adapt. One possibility is central bank digital currency (CBDC)-- a widely accessible digital form of fiat money that could be legal tender. This discussion note proposes a conceptual framework to assess the case for CBDC adoption from the perspective of users and central banks. It discusses possible CBDC designs, and explores potential benefits and costs, with a focus on the impact on monetary policy, financial stability, and integrity. This note also surveys research and pilot studies on CBDC by central banks around the world.
Download or read book IMF Research Bulletin written by and published by . This book was released on 2000 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt:
