Land property rights and rural enterprise growth: Evidence from land titling reform in China
In: Journal of development economics, Band 157, S. 102853
ISSN: 0304-3878
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In: Journal of development economics, Band 157, S. 102853
ISSN: 0304-3878
In: Journal of development economics, Band 157, S. 1-16
ISSN: 0304-3878
World Affairs Online
In: Journal of Development Economics, Forthcoming
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In: Forthcoming, Management Science
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Working paper
In: International journal of forecasting, Band 33, Heft 3, S. 729-742
ISSN: 0169-2070
In: IMF Working Paper No. 15/255
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The global financial crisis has underscored the need to pay attention to contingent government liabilities that could arise from bank failures for sovereign risk management. This paper proposes a simple method to construct a contingent liability index (CLI) for a banking sector that takes into account the size and concentration of the banking system, market expectations of bank defaults, and perceptions of government support to each bank. This method allows us to track potential government liabilities related to bank failures for 32 advanced and emerging economies on a monthly basis from 2006 to 2013. Furthermore, we find that the CLI is a significant determinant of sovereign CDS spreads. Our results suggest that a 1 percentage point increase in the CLI is associated with an increase in sovereign CDS spreads by 24 basis points for advanced economies and 75 basis points for emerging markets on average.
BASE
The global financial crisis has underscored the need to pay attention to contingent government liabilities that could arise from bank failures for sovereign risk management. This paper proposes a simple method to construct a contingent liability index (CLI) for a banking sector that takes into account the size and concentration of the banking system, market expectations of bank defaults, and perceptions of government support to each bank. This method allows us to track potential government liabilities related to bank failures for 32 advanced and emerging economies on a monthly basis from 2006 to 2013. Furthermore, we find that the CLI is a significant determinant of sovereign CDS spreads. Our results suggest that a 1 percentage point increase in the CLI is associated with an increase in sovereign CDS spreads by 24 basis points for advanced economies and 75 basis points for emerging markets on average.
BASE
In: Journal of economic dynamics & control, Band 47, S. 263-281
ISSN: 0165-1889
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Working paper
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In: International journal of forecasting, Band 36, Heft 4, S. 1454-1475
ISSN: 0169-2070
In: Macquarie Business School Research Paper No. February 2020
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Working paper
In: Journal of Banking and Finance, Forthcoming
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Working paper
In: JCOMM-D-22-00004
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