Communities → Financial Markets
- History of formation and development of national tax system in Tajikistan
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November 19, 2008 10:58
Current work is aimed at discovering common and unique features in the formation of national tax system and revealing specific characters in its functioning on various phases of historical development of the Tajik society. (Available only in Russian).
- Tax and budget regulation in Tajik economy
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November 19, 2008 10:48
Current research work is aimed at substantiation of measures in the increasing the effectiveness of the tax and budget regulation in the economy of Tajikistan. (Available only in Russian).
- Behavioral Foundations of Microcredit: Experimental and Survey Evidence From Rural India
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November 10, 2008 13:19
This paper draws a link between self-control problems and the contractual mechanisms of microcredit. А series of “lab experiments in the field” which were designed to elicit measures of time discounting on a sample of 573 individuals in rural Karnataka, India were used.
- Modelling Bank Loan LGD of Corporate and SME Segments A Case Study
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November 10, 2008 13:13
The aim of this paper is to propose a methodology to estimate loss given default (LGD) and apply it to a set of micro-data of loans to SME and corporations of an anonymous commercial bank from Central Europe.
- Implied Market Loss Given Default: structural-model approach
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November 10, 2008 13:04
This paper focuses on the key credit risk parameter–Loss Given Default (LGD). General properties and determinants with respect to seniority of debt, characteristics of debtors or macroeconomic conditions are described.
- Price Setting and Market Structure: An Empirical Analysis of Micro Data
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November 10, 2008 12:44
This paper analyzes the experience of an emerging economy, Slovakia, using a large micro-level dataset that accounts for a substantial part of the consumer price index (about 5 million observations). It is found that market structure is an important determinant of pricing behavior.
- The Prediction of Corporate Bankruptcy and Czech Economy’s Financial Stability through Logit Analysis
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November 10, 2008 11:35
This article presents a financial scoring model estimated on Czech corporate accounting data. Seven financial indicators capable of explaining business failure at a 1-year prediction horizon are identified.
- Value-at-Risk on Central and Eastern European Stock Markets: An Empirical Investigation Using GARCH Models
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November 10, 2008 11:08
Current research work is based on daily return data from the four major Central and Eastern European stock markets including fourteen highly liquid stocks. The results show that, in both in- sample and out-of-sample value-at-risk estimations, the models based on asymmetric distribution of the error term tend to perform better or at least as well as the models based on symmetric distribution.
- Operational Risk Management and Implications for Bank’s Economic Capital – A Case Study
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November 7, 2008 14:06
This paper reviews the actual operational data of an anonymous Central European Bank, using two approaches described in the literature: the loss distribution approach and the extreme value theory (“EVT”).
- The Strategic Euro Laggards
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November 7, 2008 13:37
This paper is about how a government applying for a club membership may strategically delay entry to cope with the hold-up problem introduced by anticipatory investments of the private sector.
- Which Government Interventions Are Good in Alleviating Credit Market Failures?
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November 7, 2008 11:36
The topic of this paper is the public provision of subsidies and guarantees in the credit market characterized by an information asymmetry and a market power of a lender.
- Volatility extraction using the Kalman filter
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November 7, 2008 11:11
This paper focuses on the extraction of volatility of financial returns. The volatility process is modeled as a superposition of two autoregressive processes which represent the more persistent factor and the quickly mean-reverting factor.
- Microfinance in Uzbekistan: Current State and Future Prospects
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October 8, 2008 13:45
Current research work explores international experience with microfinance and the current state of microfinancing in Uzbekistan. The paper concludes with a list of recommendation to the government of Uzbekistan in elaborating a comprehensive microfinance support program.
- Price Convergence in the Enlarged Internal Market
- June 19, 2008 17:56
- Stress testing of the Czech banking sector
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June 18, 2008 15:50
This article presents the results of stress tests of the Czech banking sector conducted using models of credit risk and credit growth broken down by sector.
- Determinants of corporate financing decisions: a survey evidence from Czech firms
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June 18, 2008 15:46
This paper investigates the empirical evidence on determinants of financing decisions on the pool of respondents among financial managers of Czech firms.
- Financial crisis in Moldova: causes and consequences
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March 3, 2008 14:32
The introduction of Moldovan leu has been accompanied by a monetary stabilisation policy that proved to be one of the most successful among FSU countries until 1998. The leu showed a remarkable stability and the rate of inflation was brought down to around 10% in 1997...
- Assessment of the effects of the changes in the property transfer tax
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March 3, 2008 13:57
The Law on Property Taxes has been substantially amended in June 2007. These amendments have not only introduced some specific new articles of interest for the citizens and businesses, but have also introduced changes which will have a strong impact to revenues, and more generally financial position of local municipalities.
- Tax collecting campaign
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March 3, 2008 13:54
Observations on the Governments advertising campaign to increase the collection of tax revenue. The article raises questions about the state’s role in funding of roads, sport and culture.
- Reform of taxation system
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March 3, 2008 13:39
This detailed paper is the result of extensive research by the authors, and cooperation with colleagues at the conference on taxation reform held in late 2003 under the auspices of the Centre for Liberal Democratic Studies.
