Understanding banks in emerging markets

5 - 6 September 2013, EBRD, London

The conference aims to bring together leading researchers to discuss recent developments in empirical banking research. Attention will be given in particular to: 1. The econometric analysis of increasingly rich micro-level data that are available ‘off-the-shelve’; 2. The econometric analysis of tailor-made data from large-scale surveys of banks and their clients; 3. The use of randomized controlled trials and framed field experiments with banks. Key-note speakers: Atif Mian and Antoinette Schoar. If you would like to submit a paper (full papers accepted only) please send an email to dehaasr@ebrd.com. In the subject header please add “Submission CEPR-EBRD-EBC-RoF Conference” and nothing else. Authors will be notified about the acceptance of papers and the conference programme by 1 June 2013.

Organizer(s):
Ralph De Haas; Thorsten Beck; Steven Ongena
Type:
Conference
Location:
EBRD, London
Attendance:
Open attendance
Contact:
dehaasr@ebrd.com
Institution:
European Bank for Reconstruction and Development (EBRD) and Tilburg University
More information:
http://www.ebrd.com/pages/news/events/understanding-banks.shtml

Disclaimer: Vox is not responsible for the accuracy of this information.

Topic(s):
Development, Financial markets, International finance
Tags:
banking, emerging markets

Graduation from monetary policy procyclicality

Carlos A. Vegh , Guillermo Vuletin, 22 August 2012

How do emerging markets move from procyclical fiscal and monetary policies to countercyclical ones? This column argues that a key ingredient is stronger institutions.

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Start and stop, procyclical macroeconomic policies have been a chronic policy problem for emerging markets. Expansionary in good times and contractionary in bad times, booms become unmanageable credit expansions and ever-rising asset prices and busts turn into major recessions.

Topics: Development, Macroeconomic policy, Monetary policy
Tags: countercyclical policy, emerging markets

Related

Financial crises in emerging markets: The impact of private sector risk

Betty C. Daniel, 1 July 2012

What causes financial crises in emerging markets? This column looks at the effect of risky investments in South Korea on the Asian financial crisis of the late 1990s.

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What causes financial crises? The causes of the global crisis of 2008-2009 have been widely analysed (see for example Eichengreen 2008), just as the Asian crisis was in the 1990s. As economists, we want to attribute crises to something like fraud, greed, cronyism, or misbehaviour of some kind. We want to think that if we can control misbehaviour, we can eliminate crises.

Topics: Development, Financial markets, Global crisis
Tags: Asian crisis, emerging markets, private sector, South Korea

A new measure of the global middle class

Shimelse Ali, Uri Dadush, 2 June 2012

According to the broadest measure, anyone who is not poor is part of the middle class – that could mean that anyone living on more than $2 a day. This column suggests a more sensible measure: anyone who owns a car. Based on this measure, the global middle class looks quite different.

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The swelling middle class in emerging economies is transforming the economic balance of power across the globe. Measuring it, however, is no easy task.

Topics: Development, Poverty and income inequality
Tags: development, emerging markets, Global middle class, middle class

Myths about trade, jobs, and competitiveness

Charles Roxburgh, Richard Dobbs, Jan Mischke, 31 May 2012

Are emerging markets a threat to jobs and competitiveness for the industrialised countries? This column argues that such concerns are often based on myths. Armed with the facts, policymakers in mature economies should focus on the opportunities emerging markets present rather than viewing them as a threat.

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This is not a happy time for mature economies. They are facing:

Topics: Development, International trade
Tags: competitiveness, emerging markets, globalisation, jobs, protectionism

On Inflation Targeting and Forex Intervention: Are Two Targets Better Than One?

Jonathan D Ostry, Atish R Ghosh, Marcos Chamon, 27 May 2012

Before the global crisis, central banks could reply ‘inflation targeting’ to virtually any question about their policymaking and the ‘Great Moderation’ seemed to back them up. The crisis has put a stop to this smugness. Central banks are now engaged in emergency evasive manoeuvres and are scrambling for new intellectual anchors. This column argues that emerging market central banks should target price stability while being mindful of disequilibrium exchange rate movements.

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The global financial crisis has reminded emerging market economies, if they needed reminding, that capital flows can be highly volatile and that crises need not be home grown. Emerging markets have been affected in a variety of ways, not least by the sharp ups and downs in exchange rates that volatile capital flows engender.

Topics: Monetary policy
Tags: emerging markets, exchange-rate policy, monetary policy

Interest groups and government capabilities matter for financial development

Eduardo Cavallo, Carlos Scartascini, 12 May 2012

For some commentators, the recent financial crises are a sign that financial development has gone too far. Yet there are still countries where such concerns are the stuff of dreams. This column focuses on why the level of financial development in poor countries remains so low and what policymakers can do about it.

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The debate on the benefits and limits of financial development has come to the fore with the global financial crisis. The fact that the epicentre of the global financial crisis was in countries with developed credit markets has led some commentators to argue that financial development may have gone too far.

Topics: Development, International finance, Politics and economics
Tags: developing countries, emerging markets, financial development, institutions

Divergence of fortunes in recoveries

Prakash Loungani, M Ayhan Kose, Marco E Terrones, 24 April 2012

How different is the current recovery from past ones? How do prospects differ between advanced and emerging economies? This column argues that the ongoing recovery in advanced economies has so far paralleled the weak and protracted recovery following the 1991 global recession to a surprising degree, partly because of challenges in Europe. In contrast, the recovery in emerging market economies has been unusually strong.

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The last global recession was the deepest of the four recessions the world has experienced since World War II. Each recession led to fears of economic apocalypse but the global economy recovered in a year or two. Because of the depth of the last recession, some analysts worried that the world would relive the Great Depression of the 1930s.

Topics: Global economy
Tags: emerging markets, eurozone, recovery

The financial trilemma in China and a comparative analysis with India

Rajeswari Sengupta, Joshua Aizenman, 15 November 2011

Emerging markets face what some economists are calling a trilemma. They cannot simultaneously target exchange-rate stability, conduct an independent monetary policy, and have full financial integration. So what to do? This column looks at how Asia’s giants are responding – and in different ways.

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Policymakers dealing with the Great Recession of 2008–09 are confronted with what we call the ‘financial trilemma’.

Topics: Development, International finance, International trade
Tags: China, emerging markets, exchange-rate policy, financial trilemma, India

The changing role of emerging-market banks

Neeltje van Horen, 25 October 2011

The global financial crisis has hurt banks in both advanced and emerging economies, but this column says the turmoil has favored the emerging-market entities in relative terms. It predicts a growing role for emerging-market banks in the global financial system, particularly in their own regions.

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The global financial crisis has had a major impact on banks worldwide. While some banks are faced with major restructurings (either voluntary or imposed by governments), (almost) all banks will have to make adjustments in order to comply with Basel III and other, country-specific regulatory measures.

Topics: International finance
Tags: banking, emerging markets, global financial system, regionalism

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