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Articles 1 - 9 of 9
Full-Text Articles in Social and Behavioral Sciences
Financial Crisis, Inclusion And Economic Development In The Us And Oic Countries, Shadiya T. Hossain
Financial Crisis, Inclusion And Economic Development In The Us And Oic Countries, Shadiya T. Hossain
University of New Orleans Theses and Dissertations
The following dissertation contains two distinct empirical essays which contribute to the overall field of Financial Economics. Chapter 1, entitled “Financial Inclusion and Economic Development in OIC Member Countries,” examines whether the presence of Islamic finance promotes development and alleviates poverty. To do so, we estimate the influence of financial inclusion variables on development and poverty variables for OIC countries. Using data from the World Bank, we use dynamic panel analysis using methodology similar to Beck et al (2000) to study the effects of financial inclusion on economic development and use simple cross-sectional analysis similar to Beck et al (2004) …
The Bonus-Driven “Rainmaker” Financial Firm: How These Firms Enrich Top Employees, Erode Shareholder Value And Create Systemic Financial Instability, Economic Crises And Rising Inequality, James Crofty
PERI Working Papers
We recently experienced a global financial crisis so severe that only massive rescue operations by governments around the world prevented a total financial market meltdown and perhaps another global Great Depression. One precondition for the crisis was the perverse, bonus-driven compensation structure employed in important financial institutions such as investment banks. This structure provided the rational incentive for key decision makers in these firms (who I call “rainmakers”) to take the excessive risk and employ the excessive leverage that helped create the bubble and made the crisis so severe. This paper presents and evaluates extensive data on compensation practices in …
The Transatlantic Oarsmen Cooperative: Doubling Down On A Transatlantic Financial Regulatory Regime, Joselyn Muhleisen
The Transatlantic Oarsmen Cooperative: Doubling Down On A Transatlantic Financial Regulatory Regime, Joselyn Muhleisen
Dissertations, Theses, and Capstone Projects
This project argues that, in the wake of the 2007-09 financial crisis, the United States (US) and European Union (EU) are doubling down on finance-led domestic growth strategies and that this is their goal in constructing a transatlantic financial regulatory regime. The regime’s goal privileges the input of industry actors over other civil society actors. The construction of this regime is in response to pressure from emerging markets and to service domestic industry actors after the financial crisis. The regime is intended to allow the US and EU to maintain their dominance within the international financial regulatory regime and continue …
Financial Soundness Indicators And Macroeconomic Variables: An Empirical Investigation Of The Dynamic Linkages, Baba N. Yaaba
Financial Soundness Indicators And Macroeconomic Variables: An Empirical Investigation Of The Dynamic Linkages, Baba N. Yaaba
Bullion
The Financial soundness indicators compiled for Nigeria within the context of IMFs Financial Sector Assessment Programme has been proven to be capable of pre-empting financial crisis. Analysts, however, considered it imperative to further explore the characteristics of the indicators, particularly their relationship with other macroeconomic variables to enhance the understanding of its dynamics so as to improve on its usefulness. This study, as a maiden attempt, applies Autoregressive Distributed Lag (ARDL) approach to investigate the dynamic linkages between the indicators and selected macroeconomic variables covering the period 2007 Q1 to 2015 Q4. The results indicate that macroeconomic events dictate the …
Moral Hazard And Mispriced Systemic Risk In The Lead-Up To The 2007 Subprime Mortgage Crisis In The United States, Georgi Rusinov
Moral Hazard And Mispriced Systemic Risk In The Lead-Up To The 2007 Subprime Mortgage Crisis In The United States, Georgi Rusinov
Undergraduate Economic Review
The 2007 subprime crisis was caused by high demand for subprime mortgage products underpinned by the unrealistic assumption that property prices would keep rising indefinitely. The subprime mortgage market worked as expected as long as prices were rising and demand for property was high. When these two conditions were violated and the housing bubble collapsed, the system became dysfunctional, many subprime borrowers defaulted, and mortgage-backed securities lost much of their value. Prevention could have been achieved through regulatory measures to shift the risk back from taxpayers and investors to loan originators. Fair distribution of risk should be the main objective …
Commercial Bank Small Business Lending Pre And Post Crisis, Kevin T. Jacques, Richard Moylan, Peter J. Nigro
Commercial Bank Small Business Lending Pre And Post Crisis, Kevin T. Jacques, Richard Moylan, Peter J. Nigro
The Journal of Entrepreneurial Finance
We analyze small business lending at U.S. commercial banks, how it has changed over time and how it differs by bank size. Specifically, we examine the impact of government policy intervention on small business lending in the aftermath of the financial crisis. We find several important results. First, we find that the Troubled-Asset Relief Program’s (TARP) $200 billion Capital Purchase Program (CPP) had little impact on the banks that received capital injections’ small business lending. Second, the Small Business Loan Fund (SBLF) lending program appears to have been a success as banks participating in the loan fund increased their lending …
Winning Banking Strategies To Identify Efficiency Changes During A Financial Crisis, Adeeb Seman Hattar
Winning Banking Strategies To Identify Efficiency Changes During A Financial Crisis, Adeeb Seman Hattar
Walden Dissertations and Doctoral Studies
Between 2007 and 2009, taxpayers paid $700 billion to bail out failing U.S. banks. The purpose of this single case study was to explore strategies that leaders of a successful U.S. bank used to identify efficiency changes occurring during the financial crisis. The target population of this study included 6 bank leaders located in San Bernardino, California, who occupied a managerial role in a successful U.S. bank during a financial crisis, had experience with the efficiency changes that occurred during a financial crisis, and developed and implemented strategies to identify efficiency changes that took place during a financial crisis. The …
Three Essays On The Global Financial Crisis And Fiscal Policy, Kyonghoon Kim
Three Essays On The Global Financial Crisis And Fiscal Policy, Kyonghoon Kim
Legacy Theses & Dissertations (2009 - 2024)
In the first chapter, I show that external openness factors and valuation effects are significant to explain the diverse impact of the Global Financial Crisis across countries. Unlike previous crises in the late 20th century, most developing country groups performed better than advanced countries during the GFC. I find that countries with higher trade and financial openness are more seriously damaged from the external shock during the GFC. Moreover, significant differences in the composition of countries’ external portfolio contribute to the variety of the crisis impact. Emerging countries which have short position in equity and long position in bond are …
Macroprudential Regulation Of Mortgage Lending, Steven L. Schwarcz
Macroprudential Regulation Of Mortgage Lending, Steven L. Schwarcz
Faculty Scholarship
Much regulatory effort has been devoted to improving mortgage lending, the principal source of housing finance. To date, that effort has primarily been microprudential—intended to correct market failures in order to increase economic efficiency. In contrast, and while there is some overlap, this article focuses on a more “macroprudential” regulation of mortgage lending—intended to reduce systemic risk. Although largely underdeveloped in the literature, the macroprudential regulation of mortgage lending would have two goals: an ex ante goal of preventing systemic shocks in housing finance and the housing sector, and an ex post goal of ensuring that housing finance, the housing …