... they get involved inthe restructuring ofthe state-owned enterprises 31 Table 1.8: Summary of closure offinancialinstitutionsin China Closed institutions Closing date Face value on closing ... protects the lawful interests ofthe key players inthe banking industry, namely, the commercial banks, the depositors and other customers, theLawofthe People s Bank of China” was issued to “confirm” ... RMB270 billion special treasury bonds bythe Ministry of Finance It also coordinated some restructuring, merger deals and closing down of some ofthe banks and non-bank financialinstitutions that...
... transactions Local transactions only Indonesia Both cross-border and local transactions Local transactions only Malaysia Both cross-border and local transactions Local transactions only Philippines Both ... network of associates, to 45 bank forex dealers in HCMC and Hanoi The questionnaire contains 28 questions (the instrument is available from the authors upon request) Responses from 39 dealers, each ... bank in designing and offering option contracts to customers as a response to the strong appreciations ofthe euro against the US dollar at the time, which were generating exchange rate risk for...
... times of that in 1978 The government increased its expenditure mainly for two uses One ofthe uses was subsidizing - 13 - the loss making SOEs, especially those state owned banks and other financial ... it is mainly because of its huge revenue, not low expenses All the above analysis on fiscal problems brings us some conclusions and policy suggestions for China China s fiscal position has been ... equities (B-share stocks in SHSE and SZSE were open to foreign investors and overseas Chinese only before February 19, 2001; and there are also some companies listed on stock exchanges in Hong Kong,...
... cent in 1991-92 to 6.1 per cent in 2004-05 The increase in India s trade with China has been more pronounced inthe last four years The inclusion of China and Hong Kong SAR reflects an increasing ... being Asian - the Chinese yuan andthe Hong Kong Dollar The rapid growth in India sforeign trade with China and Hong Kong inthe recent years has been the underlying factor for including these ... keeping in view the rapid change inthe destinations of India sforeign trade in contrast to the fixed weights used hitherto for constructing REER/NEER series Table gives the normalized weights...
... purely speculative Enormous amounts of money move round the world, chasing high interest rates or capital gains, as investors- including rich individuals, companies and pension funds- seek to ... to rust and is corrosion-resistant Because of gold s versatility, it can be used in many applications One of its primary uses is as jewelry and adornment In Mesopotamia (now Iraq) gold cups and ... maximize the value of their assets In London alone, inthe late 199 0s, over $300 billion worth of currency was traded on an average day- the equivalent of about 30 %of the value ofthe goods Britain...
... is covered in Section and Section describes our dataset The benchmark exposure results andthe robustness of these results are discussed in Section The second-stage results onthe links between ... also interested in whether the same set of firms is exposed across subsamples andinthe stability ofthe direction of exposure Part A of Table reports the subsample exposure results for the USD ... second source, The Directory of Multinationals (1998), includes the 500 largest firms with consolidated sales in excess of $US billion and overseas sales in excess of $US 500 million in 1996...
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... rate specifications The rest of this paper is organised as follows In Section we discuss the hypothesis of PPP and how possible sources of deviations from PPP can be linked to the UIP condition Section ... Identification, Estimation and Testing in Panel Data Models with Attrition: The Role ofthe Missing at Random Assumption 306 B Bye and T Åvitsland (2001): The welfare effects of housing taxation in a distorted ... a survey) Onthe other hand, Johansen and Juselius (1992) have suggested that one possible reason why so many researches have failed to find evidence in support of these parity conditions is the...
... draws of impulse response functions and variance decompositions can be obtained by transforming the θ draws accordingly Inthe subsequent empirical analysis we are interest in examining the hypothesis ... by sample size While the estimates will be dominated to some extent bythe prior in small samples, the posterior summarizes the information contained inthe data in a consistent fashion, whose ... periods for the individual countries are as reported above Our list of instruments includes lagged values ofthe variables inthe regression equation We performed estimation by using two measures of...
... cho kết khả quan s dụng đánh giá mẫu (in- samples test), lại Trang The Economics of Exchange Rate – Mark P Taylor cho kết ý nghĩa thống kê đánh giá mẫu (out -of- samples test) so s nh với mô hình ... hối tuân theo lý thuyết cân lãi suất có phòng ngừa (covered interest rate parity) lý thuyết cân s c mua (purchasing power parity) Lý thuyết cân lãi suất có phòng ngừa cho chênh lệch lãi suất hai ... (efficient market hypothesis) thị trường ngoại hối đưa s điều kiện cân khác bên cạnh điều kiện cân (cân lãi suất không phòng ngừauncovered interest rate parity); phần hai trình bày s lý thuyết kiểm...
... Here, To and Do are the concentrations of free ATP and ADP outside of mitochondria Values of dissociation constants are listed in Table The second is the binding dissociation of protons to from ... concentrations of intramitochondrial nucleotides onthe basis of DWm value and values of extramitochondrial ADP and ATP makes it possible to use the model as a toolkit for the study of responses ofthe ... represent the full system describing the phosphorylation of mitochondria The following ion balances have been taken into account inthe model The rst is the binding dissociation of magnesium ions...
... results onthe sensitivity of bank stocks to risk factors are discussed in section Section examines the pricing of risk factors Section contains a brief conclusion The multifactor index model 2.1 The ... as follows: Section presents the multifactor model and discusses several issues associated with its use The micro international banking model is presented in section andthe empirical results ... interest rate sensitivity of common stocks offinancialinstitutions to the maturity composition ofthe firm s assets and liabilities Solnik (1974) raised the issue of exchange rate risk in an equilibrium...
... this depreciation the recessionary and deflationary impact ofthe shocks to the economy is dampened substantially The depth ofthe recession and deflation is similar to the first simulation shown in ... expanding the supply ofthe monetary base and bringing down the short-term rate of interest Since prices of goods and services adjust more slowly than those on financial instruments, such a money injection ... depreciation ofthe domestic currency In this context, we also investigate the international consequences of these proposals Our findings indicate that the zero bound induces noticeable losses in terms of...
... provides a description of firm-specific balance sheet and derivative exposure variables used inthe second-step cross-sectional estimation The cross-sectional estimation is based on equations (4) and ... missing balance sheet variables are dropped from estimation inthe second step This reduces the sample size inthe second step to 50 banks The cross sectional estimation is based on bank-specific ... exposures, on interest rate and exchange rate risks while recognizing the jointly determined nature of these risks The results of this study provide the first formal estimates ofthe joint...
... offices c The sum offoreign investment assets andforeign commercial loans less interest and non-interest bearing deposits d The cumulative translation effects of exchange rates on assets and ... explanation for this finding arguably stems from the activities taken onby those banking institutions As shown in Table 3, these are the banking institutions that seem to have the largest short positions ... summarizes the results ofthe estimation The table provides statistics that describe median estimates andthe standard deviation ofthe estimates, some aspects of its range, andthe number of firms...
... làm s tảng cho việc lựa chọn s giá đưa vào phân tích nghiên cứu Tổng quan nghiên cứu trước McCarthy, 2000, “Pass-Through of Exchange Rates and Import Prices to Domestic Inflation in Some Industrialized ... hoàn toàn đến giá nhập Tổng quan nghiên cứu trước Gosh and Wolf, 2001, “Imperfect Exchange Rate PassThrough: Strategic Pricing and Menu Costs” Nghiên cứu hiệu ứng truyền dẫn ngắn hạn không hoàn ... đồng Mark Đức Ngay sau ổn định đạt năm 1994, s ch tiền tệ trì theo hướng trọng đến tỷ giá hối đoái Nỗi lo s thả Khi so s nh Croatia với kinh tế chuyển đổi khác với chỉnh s a tỷ giá hối đoái...