You may have to Search all our reviewed books and magazines, click the sign up button below to create a free account.
This paper examines the extent to which a dynamic international general equilibrium model can account for observed movements in real interest rates and interest rate differentials. Using data for Group of Seven, the study finds that measured real interest rates are countercyclical in a single country and that the contemporaneous cross-correlations between international real interest differentials and output growth spreads are negative. Predictions of the baseline model are, however, inconsistent with the data. Extending the benchmark model to include habit persistence in consumption improves the match between theory and data.
Contributed papers presented at various national level workshops and seminars.
Includes contributed articles on the role and activities of the Committee for Resisting Killers & Collaborators of Bangladesh Liberation War of 1971, in the political events of Bangladesh after 1991.
Directory with reference to Bangladesh.
With reference to Bangladesh.
Papers presented at Annual National Convention of Women for Women held at Dhaka on November 19-20, 1999.
Over the past two decades, there has been a clear trend toward integrating the regulation and supervision of banks, nonbank financial institutions, and securities markets. This paper reviews the international experience with integrated supervision. We survey the theoretical arguments for and against the integrated supervisory model, and use data on compliance with international standards to assess the validity of some of these arguments. We find that (i) full integration is associated with higher quality of supervision in insurance and securities and greater consistency of supervision across sectors, after controlling for the level of development; and (ii) fully integrated supervision is not associated with a significant reduction in supervisory staff.
Caprio and Honohan question the widespread belief that market discipline on banks cannot be effective in less developed financial environments. There is no systematic tendency for low-income countries to lack the prerequisites for market discipline. Offsetting factors to the weaker market and formal information infrastructures are (1) the less complex character of banking business in low-income countries; (2) the growing internationalization of these markets through the presence of foreign banks, and through international trading of the debt and equity of locally-controlled nongovernment banks; and (3) the smaller size of the business and financial community. However, continuing dominance by...