International Economics Commons^™

The Effect Of Bank Competition On Bank Stability In Thailand, Kamolwan Yamploy

Chulalongkorn University Theses and Dissertations (Chula ETD)

This research studies the impact of competition on bank stabilities, which are capital adequacy, non-performing loans ratio, interest income risk, and non-interest income risk. Lerner index is used to proxy degree of non-structural bank competition. We use data on 11 Thai commercial banks from the year 2010 to 2018 and employ Panel Least Square regression. Our results show that banks with higher market power tend to have lower risk lending behaviors. As a result, this allows them to have lower level of capital and higher level of risk in non-interest income activities. On the other hand, higher concentration ratio 5, …

Determinants Of Cross-Border Mergers And Acquisitions Of Firms In Thailand, Pongpak Weerakiet

Chulalongkorn University Theses and Dissertations (Chula ETD)

In this paper, we evaluate the effects of firm-level and country-level variables on the firms' probability of having cross-border M&A deals and the size of the deals. Our sample consists of 87 firms from SET100 Index (firms from financial industry are excluded), and the data between 2009 to 2018 is used in this paper. The results indicate that the increase in ownership advantages of the firms, namely, size and profitability raise the chance of the firms having cross-border M&A deals and the size of the deals. For country-level variables, the results agree with the gravity model that an increase in …

The Impact Of Internet Finance On The Profitability Of Commercial Banks In China, Yuting Song

Chulalongkorn University Theses and Dissertations (Chula ETD)

Several studies analyzed the impact of internet finance on the profitability of Chinese commercial banks. This paper adds to the literature by focusing on two types of internet finance, internal internet finance (online banking) and external internet finance (third-party-payment (TPP) and peer-to-peer lending (P2P) platforms), and their relationship with bank performance. Two datasets that cover the years 2011 to 2018 are used for the regression analyses, a balanced panel dataset of 10 banks to analyze the impact of internal and external internet finance on bank performance and an unbalanced panel dataset of a larger sample of 43 banks to further …

Microfinance In Latin America: Poverty Alleviation And The Impact Of Institutional Mimicry, Lindsay Jouben

Graduate Theses, Dissertations, and Problem Reports (ETD)

Microfinance has become a program of choice in the international development community. The World Bank has promoted microfinance programs under the idea that poverty alleviation can be accomplished by mainly providing credit. [1] As such, these policies are often replicated throughout the developing world. This replication is done through international organizations adopting a standard of best practices for the microfinance field. Best practices consist of a complex set of standard by which all banks must adhere if they receive funding from the World Bank or International Monetary Fund. These best practices, following neoliberal economics, lay out how microfinance should operate …

Trade Creation Dan Trade Diversion Indonesia Dengan Aanzfta Pada Komoditas Garam, Dwi Tjahya Nugraha, Tony Irawan, Dedi Budiman Hakim

Jurnal Ekonomi dan Pembangunan Indonesia

ASEAN-Australia-New Zealand Free Trade Area (AANZFTA) is a free trade area formed in 2009. One of its implementations is the reduction of import duties on salt commodities in 2011. Its implementations has an impact on trade creation (TC) members and trade diversion (TD) on salt commodities product. The objective of this study is to analyze the occurrence TC and TD on salt commodity. Import demand elasticity and substitution elasticity approach for TC and TD estimation models was developed by the World Bank. The result is no all AANZFTA’s members get profit in the form of TC but just TD with …

Travel To Cuba: A Case Study Of Media Branding In A Politicized Context, Yaneisis Infante

Student Theses and Dissertations

The purpose of this research is to detail a case study of U.S. tourism to Cuba in a politicized context; specifically, to compare and contrast the Obama and Trump administrations. This study seeks to examine how the Cuban “brand” and the island’s overall tourism strategy is formulated, circulated, shaped and reshaped by various actors and the public in the changing context of the newly antagonistic bilateral U.S.-Cuba political relationship. The research questions explore issues of how diplomatic relations impact Cuban tourism and advertising messaging. This paper also discusses the changes in the U.S. news media coverage of Cuba as a …

A Data Analysis Of The World Happiness Index And Its Relation To The North-South Divide, Charles Alba

Undergraduate Economic Review

In this document, we perform a detailed data analysis on the World Happiness Report with its relation to the socio-economic North-South Divide. In order to do so, we perform some extensive data cleaning and analysis before querying on the World Happiness Report. Our results based on Hypothesis Testing determines the happiness of the Global North is greater than that of the Global South. Furthermore, our queries show that the mean happiness score for the Global North significantly outweighing that of the South. Likewise, the 10 'Happiest' nations all belong to the Global North whereas the 10 'least happy' nations belong …

The Future Development Of Reits In China, Jia Sun

Dissertations and Theses Collection (Open Access)

Real Estate Investment Trust (REIT) is a type of trust fund or corporation that pools the funds of a large number of investors by issuing a certificate of income and invest the raised funds in real estate projects that are managed by a specialized investment institution. The real estate investment risk is moderate, and the rent is stable, but the capital threshold is high, and it is difficult for small and medium investors to enter the market. The invention of REITs aims to solve this problem, through the collection of funds, so that small and medium investors can enter the …

The Bluebox Practicum: Integrating Technology, Culture, And Academic Service-Learning, Charles Braymen, Dustin Ormond

Jesuit Higher Education: A Journal

Advancing education in marginalized communities has been more difficult compared to more privileged communities due to the lack of infrastructure, which in part results in an absence of educational materials. The BlueBox Project was created to minimize this divide by bringing a wealth of information to these communities. Using a small digital computer, faculty, staff, and students across many disciplines built the BlueBox, a stand-alone digital library which hosts an array of books, articles, educational games, and videos to inspire learning in a variety of subjects including science, technology, math, music, and literature. The BlueBox is powered by solar energy, …

Morocco’S Makhzen And The Challenge Of National Development, Zakaria Fatih

Journal of Global Initiatives: Policy, Pedagogy, Perspective

This article explores the question of national development in Morocco considering the institution of the makhzen. It asserts that to adequately assess Morocco’s national development as a post-colonial country, it is necessary to rely on an economic model based in politics rather than in theories exclusively informed by classical and neoclassical economics. Among the key economists called upon to investigate the validity of politics in discussions of national development and income inequality are the following: Simon Kuznets, Thomas Piketty, W. A. Lewis, and the duo Daron Acemoglu and James A. Robinson, all of whom continue a long tradition of economic …

European Banking Union D: Cross-Border Resolution—Dexia Group, Rosalind Z. Wiggins, Natalia Tente, Andrew Metrick

Journal of Financial Crises

In September 2008, Dexia Group, SA, the world’s largest provider of public finance, experienced a sudden liquidity crisis. In response, the governments of Belgium, France, and Luxembourg provided the company a capital infusion and credit support. In February 2010, the company adopted a European Union (EU)-approved restructuring plan that required it to scale back its businesses and cease proprietary trading. In June 2011, Dexia withdrew from the government-sponsored credit support program before its expiration date, and in July, the company announced that it had passed an EU stress test. However, just three months later, Dexia wrote down its substantial position …

European Banking Union C: Cross-Border Resolution–Fortis Group, Rosalind Z. Wiggins, Natalia Tente, Andrew Metrick

Journal of Financial Crises

In August 2007, Fortis Group, Belgium’s largest bank, acquired the Dutch operations of ABN AMRO, becoming the fifth largest bank in Europe. Despite its size and its significant operations in the Benelux countries, Fortis struggled to integrate ABN AMRO. Fortis’s situation worsened with the crash of the US subprime market, which impacted its subprime mortgage portfolio. By July 2008, Fortis’s CEO had stepped down, its stock had lost 70% of its value, and it was on the verge of collapse due to a severe liquidity crisis. The governments of Belgium, Luxembourg, and the Netherlands quickly came together and agreed to …

European Banking Union B: The Single Resolution Mechanism, Rosalind Z. Wiggins, Michael Wedow, Andrew Metrick

Journal of Financial Crises

The options available to European governments to respond to a multinational bank in financial trouble have been severely limited since each country has its own unique laws and authority applicable to banks operating within its borders. The Bank Recovery & Resolution Directive (BRRD), which was adopted in 2013 and scheduled to go into effect January 2015, harmonizes rules across EU countries for how to restructure and resolve failing banks. However, the directive would maintain the existing system of individual national resolution authorities and resolution funds. To better secure the Eurozone banks and to compliment the Single Supervisory Mechanism, which was …

European Banking Union A: The Single Supervisory Mechanism, Rosalind Z. Wiggins, Michael Wedow, Andrew Metrick

Journal of Financial Crises

At the peak of the Global Financial Crisis in fall 2008, each of the 27 member states in the European Union (EU) set many of its own banking rules and had its own bank regulators and supervisors. The crisis made the shortcomings of this decentralized approach obvious, and since its formation in January 2011, the European Banking Authority (EBA) has been developing a “Single Rulebook” that will harmonize banking rules across the EU countries. In June 2012, European leaders went even further, committing to a banking union that would better coordinate supervision of banks in the then 18-country Eurozone. A …

European Central Bank Tools And Policy Actions B: Asset Purchase Programs, Chase P. Ross, Rosalind Z. Wiggins, Andrew Metrick

Journal of Financial Crises

Beginning in August 2007, the European Central Bank (ECB) used standard and non-standard monetary policies as the global financial markets progressed from initial turmoil to a widespread sovereign debt crisis. This case describes the key features of the ECB’s asset purchase programs throughout the Global Financial Crisis and subsequent European sovereign debt crisis. These programs include the Covered Bond Purchase Programs (CBPP1, CBPP2, CBPP3), Securities Markets Program (SMP), Outright Monetary Transactions (OMT), Asset-backed Securities Purchase Program (ABSPP) and the Public Sector Purchase Program (PSPP).

In combating the crises, the ECB designed various innovative programs which it successively employed as the …

European Central Bank Tools And Policy Actions A: Open Market Operations, Collateral Expansion And Standing Facilities, Chase P. Ross, Rosalind Z. Wiggins, Andrew Metrick

Journal of Financial Crises

Beginning in August 2007, the European Central Bank (ECB) responded to market turmoil with a variety of standard and non-standard monetary policy tools. This case discusses the operational framework of the ECB’s open market operation tools and standing facilities before and during the financial crisis. Specifically, this case describes the ECB’s use of its main refinancing and longer-term refinancing operations, the expansion of collateral eligible for use in Eurosystem credit operations, and the ECB’s standing facilities, including its marginal lending and deposit facilities.

Ireland And Iceland In Crisis C: Iceland’S Landsbanki Icesave, Arwin G. Zeissler, Thomas Piontek, Andrew Metrick

Journal of Financial Crises

At year-end 2005, almost all of the total assets of Iceland’s banking system were concentrated in just three banks (Glitnir, Kaupthing, and Landsbanki). These banks were criticized by certain financial analysts in early 2006 for being overly dependent on wholesale funding, much of it short-term, that could easily disappear if creditors’ confidence in these banks faltered for any reason. Landsbanki, followed later by Kaupthing and then Glitnir, responded to this criticism and replaced part of their wholesale funding by using online accounts to gather deposits from individuals across Europe. In Landsbanki’s case, these new deposits were marketed under the name …

Ireland And Iceland In Crisis A: Increasing Risk In Ireland, Arwin G. Zeissler, Karen Braun-Munzinger, Andrew Metrick

Journal of Financial Crises

Ireland went from being the poorest member of the European Economic Community in 1973 to enjoying the second highest per-capita income among European countries by 2007. Healthy growth in the 1990s eventually gave way to a concentrated boom in property-related lending in the 2000s. The growth in the aggregate loan balances of Ireland’s six major banks greatly exceeded the growth in gross domestic product (GDP); as a result, bank loan balances grew from 1.1 times GDP in 2000 to over 2.0 times GDP by 2007. Given the small size of the domestic retail depositor base, the Irish banks increasingly funded …

Innovation, Growth, And Dynamic Gains From Trade, Wen-Tai Hsu, Raymond G. Riezman, Ping Wang

Research Collection School Of Economics

How large are the welfare gains from trade? Would such gains be significantly amplified in the long run when productivity is endogenously enhanced? To address these questions, we focus on the dynamic effect of trade, in particular, how trade affects the incentives for technological advancement. We construct an innovation-based endogenous growth model of North-South trade. There are two types of innovation: one by the North to upgrade the general purpose technology (GPT) and another by all countries to advance entrepreneurial knowledge for developing differentiated products. We find sizable welfare gains from trade, about 5.3% when compared to autarky. The gains …

The Shifting Dynamics Of International Reserve Currencies, Robert J. Righi

Undergraduate Economic Review

With the recognition by the IMF of the Chinese renminbi as an international reserve currency in 2015, it is important to understand the modern influence of reserve currencies. We use currency exchange rate data and apply modified workhorse regression models to assign each country’s gross domestic product at purchasing power parity to a reserve currency bloc in order to obtain a global sphere of influence for each reserve currency. We find that the United States retains its dominance but faces challenges from the renminbi and the euro in recent years as the international monetary system becomes tri-polar.