Publications → Financial Markets → Banking Sector
- 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.
- Towards Measurement of Political Pressure on Central Banks in the Emerging Market Economies: The Case of the Central Bank of Egypt
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January 18, 2008 17:47
This paper assesses whether the legal independence granted to the Central Bank of Egypt (CBE) under the latest legislation is factual. I followed Fry’s methodology, which assumes that the level of independence of the central bank is determined by fiscal attributes.
- Regulation of Bank Capital and Behavior of Banks: Assessing the US and the EU-15 Region Banks in the 2000-2005 Period
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January 18, 2008 17:37
The purpose of this paper is to assess and compare how American and European banks adjust their level of capital and portfolio risk under capital regulation, whether and how they react to constraints placed by the regulators. In order to do this, we estimate a modified version of the simultaneous equations model developed by Shrieves and Dahl.
- Foreign Banks, Foreign Lending and Cross-Border Contagion: Evidence from the BIS Data
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January 18, 2008 17:24
The article discusses the role of foreign banks and foreign lending in the CEE countries from the financial stability perspective using the data on international banking business.
- Reaching out : access to and use of banking services across countries
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November 23, 2007 13:16
The authors (1) present new indicators of banking sector penetration across 99 countries based on a survey of bank regulatory authorities, (2) show that these indicators predict household and firm use of banking services, (3) explore the association between the outreach indicators and measures of financial, institutional, and infrastructure development across countries, and (4) relate these banking outreach indicators to measures of firms' financing constraints.
- Financial performance and outreach : a global analysis of leading microbanks
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November 23, 2007 13:15
Microfinance contracts have proven able to secure high rates of loan repayment in the face of limited liability and information asymmetries, but high repayment rates have not translated easily into profits for most microbanks. Profitability, though, is at the heart of the promise that microfinance can deliver poverty reduction while not relying on ongoing subsidy. The authors examine why this promise remains unmet for most institutions.
- Deposit insurance and banking reform in Russia
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November 23, 2007 13:14
The objective of this paper is not to review the pros and cons of deposit insurance systems, but to focus, rather narrowly, on the recent adoption of a deposit insurance system (DIS) in Russia, the rationale offered, and the potential impact it might have on the stability and development of the Russian banking system.
- Foreign bank participation and crises in developing countries
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November 23, 2007 13:10
This paper describes the recent trends in foreign bank ownership in developing countries, summarizes the existing evidence on the causes and implications of foreign bank presence, and reexamines the link between banking crises and foreign bank participation.
- Building sound banking in transition countries
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November 23, 2007 13:08
This working paper collects the contributions made by invited participants (listed above) to a seminar organised by the EBRD's Office of the Chief Economist during the Bank's Annual Meeting held in London on 11-12 April 1995.
- Optimal design of bank bailouts: the case of transition economies
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November 23, 2007 13:03
In most recent banking crises bank regulators have been caught off their guard and have been forced to respond to the crisis in a hurry without the support of an institutional or legal framework designed to deal with bank failures. This is in sharp contrast with the non-financial sector, where a detailed and elaborate bankruptcy law governs the process of liquidation or reorganisation of financially distressed firms. In this paper we address the question of how to design a bankruptcy institution for banks that would serve a similar purpose as existing bankruptcy laws for non-financial firms.
- Banking reform and development in transition economies
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May 16, 2007 14:41
This paper examines the impact of banking and enterprise reforms and other factors on banking development in transition economies at both the aggregate level and that of individual banks. A unique contribution of the paper is the analysis of a new panel data set of 515 banks in 16 transition economies for the years 1994-99. The analyses show that progress in banking reform is the sine qua non of banking development.
- What should the multilateral development banks do?
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May 16, 2007 14:41
This paper assesses the role of multilateral development banks (MDBs) in fostering development or transition through the institutional mechanisms that the MDBs possess for the selection, monitoring and enforcement of loans and other financing agreements and through the use of subsidies that they receive from their shareholders and other sources. We conclude that a useful direction for MDB reform is to exploit more effectively the potential complementarities between the public and private sector financing operations.
- Bank performance in transition economies
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May 15, 2007 09:54
This paper examines the performance of 515 banks in 16 transition economies for the years 1994-99 based on their public financial accounts. We first examine lending behaviour and probability distribution of bank profitability to determine whether these banks exhibit behaviour and performance associated with excessive risk-taking. While we do not find evidence of excessive risk-taking on average where there is significant progress in banking and related enterprise reforms, there may be a minority of poorly capitalised banks that do take excessive risks, particularly where progress in reform is less advanced.
- The 2002 Business Environment and Enterprise Performance Survey: Results from a survey of 6,100 firms
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May 15, 2007 09:54
This paper provides an overview and discusses key findings of the 2002 Business Environment and Enterprise Performance Survey (BEEPS), implemented jointly by the EBRD and the World Bank. (The first round of the BEEPS was implemented in 1999.) Four important conclusions arise from the analysis. First, qualitative measures of the business environment in the BEEPS appear to provide reasonably accurate measures, both across various business environment dimensions and countries and over time. These qualitative measures are compared with both objective statistical measures, where possible, and quantitative business environment measures from the BEEPS. Second, qualitative measures of the business environment show that in virtually all transition economies the business environment has improved significantly between 1999 and 2002. Third, the analysis of quantitative measures of the business environment shows a strong association between business obstacles, added costs and constraints on business, such as corruption, private security protection or reliance on internal sources of finance. However, evidence suggests that the nature of corruption in tax administration, which tends to be centralised, is less costly to firms than is corruption in business regulation, which is decentralised. Fourth, the analysis of firm investment and growth shows that the quality of the business environment in 1999 (based on qualitative measures) is significantly and positively associated with investment by firms in the period 1999 to 2001. It also shows that state capture significantly boosts the investment and real revenue growth rates of firms that engage in this activity, but holds back the growth performance of other firms
- Cost efficiency of banks in transition: Evidence from 289 banks in 15 post-communist countries
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May 15, 2007 09:54
To understand the transformation of banking in the post-communist transition, this paper examines the cost efficiency of 289 banks in 15 east European countries. The findings showed that banking systems in which foreign-owned banks have a larger share of total assets record lower costs and that the association between a country’s progress in banking reform and cost efficiency is non-linear. Early stages of reform are associated with cost reductions, while costs tend to rise at more advanced stages. Private banks are more efficient than state-owned banks, but there are differences among private banks. Privatised banks with majority foreign ownership are the most efficient and those with domestic ownership are the least.
- Business environment and enterprise behaviour in East Germany compared to West Germany and central Europe
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May 15, 2007 09:54
This paper examines the institutional differences between the former East and West Germany and four central European transition countries (the Czech Republic, Hungary, Poland and the Slovak Republic). Using enterprise survey data, the paper shows that the quality of institutions in the former East Germany still differs from that in former West Germany. It also finds that enterprises in the transition countries have compensated for institutional deficiencies by focusing on innovation and investment in human capital.
- Building sound banking in transition countries
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May 15, 2007 09:54
This working paper collects the contributions made by invited participants (listed above) to a seminar organised by the EBRD's Office of the Chief Economist during the Bank's Annual Meeting held in London on 11-12 April 1995.
- Central Asia: governments, banks gradually open up to Islamic banking
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May 15, 2007 09:54
The article is a comparative analysis of the activities of the Islamic Development Bank (IDB) in the region, to which all Central Asia countries are member by now. The IDB’s largest Central Asian stakeholder is Kazakhstan and Uzbekistan is the smallest.
- The Pros and Cons of Banking Socialism
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May 15, 2007 09:54
This paper seeks an explanation why the benevolent government privatizes enterprises, but also keeps control of banks (banking socialism).
- Regulated Supervision in Czech Transition
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May 15, 2007 09:54
This paper attempts to abstract and evaluate the main decision steps of the Czech national bank during transition.
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