Search results for "G01"
showing 10 items of 12 documents
Two Great Banking Crises and Their Economic Impact Compared: Spain 1976/1977 and 2008
2017
The 1976/1977 crisis was the most severe in Spanish history, but the losses associated with the 2008 crisis are huge. This paper compares these two great banking crises and identifies the main parallels and differences between them. Is the current crisis as severe as that of 1976? What is the impact on the banking and financial sectors? We show that the 1976 crisis is being surpassed by the 2008 crisis in terms of the decline in GDP, industrial production and unemployment, and that these two events have had at least a similar impact in terms of output gap and output loss. Finally, the financial impact measured by different financial indicators confirms the greater severity of the 2008 crisi…
Financial crises in Spain: lessons from the last 150 years
2012
Financial crises are not unique to current financial systems. Are crises alike? Have they become more frequent, longer lasting and more severe since the 20th century? What does history tell us? The objective of this paper is to study the financial crises that have occurred in Spain over the last 150 years. We consider different types of crises (banking, currency and stock market crises), together with all their possible combinations, estimate their frequency by period and measure their length and depth. The main conclusion we obtain is that Spanish crises have been more frequent than in the rest of the world and have been more severe and more complex since 1973, as the 2007 crisis is confir…
Financial stress and sovereign debt composition
2015
"Published online: 19 Oct 2015"
Innovative methods on managing of resources in banks, caused by the influences of the current crisis on the working process of these institutions
2012
Current actions in the economic circles were significantly caused by the work of the banks, but they also affect significantly the work of the banks. Therefore, the focus of this paper is on perception the novelties which should be applied in the approach of the work of the bank institutions, with a main goal to show the changes in the methods of the organization’s work (financial). The working methods are comparative analysis and perception of the statistic results. The conclusion shows that the securitization, defending some positions which are considered as classic in the economy, hedging should be continuously and actively managed, and never should surface passiveness and leaving things…
CASE STUDY REGARDING THE FINANCIAL PERFORMANCE BASED ON RATES OF RETURN, FOR COMPANIES LISTED ON BUCHAREST STOCK EXCHANGE, ACTING IN MINING AND QUARR…
2013
Analysing the relationships between elements of an enterprise's financial statements, especially between elements from the balance sheet and those from the profit and loss account, the rates of return adds greater utility to the consumers of financial information, offering the possibility to make comparisons over time and space as well as to make reference to internal and external rates. Considering the companies listed on Bucharest Stock Exchange among the best performing, due to the high requirements imposed by a stock market, in this paper has been analyzed the way the financial crisis affected the financial performance in Mining and Quarrying Domain.
Financialisation, regional economic development and the coronavirus crisis: a time for spatial monetary policy?
2021
Abstract This paper argues that ‘spatial monetary policy’ may be needed to achieve more territorially balanced economic development. Central banks have been key in fostering financialised economies while also preventing their collapse in times of crisis—a role further strengthened by the coronavirus pandemic. Central banks have thus become the most powerful economic policy-making institutions, just when spatial disparities are likely to deepen. In the context of crisis-ridden financialised capitalism, regional development policies should consider the spatial implications of central bank interventions and recognise monetary policy as a key element of spatial policy. Simultaneously, monetary …
MARKET CORRELATION, MARKET RETURNS AND PORTFOLIO IMPLICATION
2012
In this paper we examine the market correlation and market returns from Romanian perspective. Market returns are higher in emerging markets than developed market returns, but form portfolio perspective it`s also important to evaluate how much correlations are changing in emerging markets. Our results are important in allocation of financial instruments in institutional portfolio management.
The Intraday Interest Rate: What's that?
2015
We study the intraday interest rate in a CCP-based GC pooling repo market and its key determinants. Since collateral used in this market is identical to collateral eligible for the daylight overdraft facility of the Eurosystem, any intraday rate in this market cannot be a result of collateral constraints keeping banks from using the overdraft for arbitrage. Nevertheless, we find that in the crisis period a statistically and economically significant intraday spread (up to 60 basis points) prevailed that was only somewhat mitigated by the ECB's unconventional monetary policy measures. Our results show that this spread was mainly determined by the market liquidity of the repo market, suggestin…
Financial Fragmentation and Economic Growth in Europe
2015
Using industry data from Eurostat and applying the Rajan-Zingales methodology, we investigate the real growth effects of banking sector integration in the European Union. Our sample stretches from 2000 until 2012 and includes the phase of rapid financial integration before the global financial crisis as well as the following phase of financial fragmentation and bank deleveraging. We find evidence that banking sector integration had a more than four times stronger growth effect during the crisis than in normal times. Growth effects are also stronger in times of domestic bank deleveraging. We conclude that concerns of European policy makers about fragmentation in the European banking sector a…
THE STABILITY, RISK AND PERFORMANCE OF COOPERATIVE BANKS
2013
In a market economy, tradition, stability and performance of cooperative banks, namely science and art of leadership, management, organization and their administration become major facets in promoting and improving cooperative banks, at the microeconomic level, to which we provide a coherent set of concepts, principles, methods and management techniques, their knowledge contributing to the viability and practical implementation, modernization and development of cooperative banks to increase their profitability and competitiveness in heightened risk conditions on local, national and even global markets. In the context of major changes in Romanian society, the action of the forces inside the …