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Statistics |
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| Total Unique Visitors: 632 |
| Visitors Out: 275 |
| Total Visitors Out: 275 |
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| Useful Resources |
| 2008-07-22 08:32:47 |
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| Competitive Markets |
| 2008-07-22 08:31:59 |
Markets take many forms. Sometimes markets are highly organized, such as the markets for many agricultural commodities. In these markets, buyers and sellers meet at a specific time and place, where an auctioneer helps set prices and arrange sales.
More often, markets are less organized. For example, consider the market for ice cream in a particular [...]...
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| The Global Financial Center’s Index |
| 2008-07-22 08:08:47 |
The Global Financial Centres Index (GFCI) was first published in March 2007 to produce an indicative rating of the competitiveness of each major financial centre in the world. The FCI enables financial centres to be ranked against each other and identifies the changing priorities and concerns of finance professionals. This report, the second in the [...]...
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| Asset & Liability Management |
| 2008-07-20 10:08:19 |
Asset/Liability management is a vital part of Enterprise Risk Management for financial Institutions.
Asset/Liability Management (ALM) is basically a hedging response to the risk in financial intermediation. As a discipline, it has been around since the early 1970s. At the beginning it started out in the from of a simple gap model which analyzes risk [...]...
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| Phenomenon of Tax Evasion |
| 2008-07-13 08:57:20 |
Tax evasion is the general term for the attempts by individuals, firms and other entities to evade the payment of taxes by illegal means. Tax evasion usually entails taxpayers deliberately understating the true state of their affairs to the tax authorities to reduce their tax liability, and includes, in particular, dishonest tax reporting.
Contrary to tax [...]...
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| Problems of Taxation |
| 2008-07-13 08:53:19 |
Tax evasion is an illegal practice of avoiding taxes that to some extent characterizes the taxpayers of all countries, despite their historical, social or economic differences. The degree of evasion is considerably high at countries in transition. The governments of these countries have been carrying out simultaneous reforms of legal and economic institutions to eliminate [...]...
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| Capital Account Liberalization, Currency Float, and Twin Crises |
| 2008-07-13 04:26:33 |
After the collapse of the Bretton Woods system in early 1970s, a new breed of financial crisis emerged. Three quarters of the IMF’s member countries suffered some form of banking crisis between 1980 and 1996, and their study did not include the subsequent Asian financial crisis in 1997. In many of these crises, banking panics [...]...
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| Financial Markets |
| 2008-07-08 11:51:19 |
As firms grow, their need for capital can expand dramatically. At some point, the firm may find that “cutting out the middle-man” and raising funds directly from investors is advantageous. At this point, it is ready to sell new financial assets, such as shares of stock, to the public. The first time the firm sells [...]...
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| Financial Crises |
| 2008-06-21 12:18:25 |
Financial crises often accompany the development of a financial system. Conventional wisdom says that financial crises are bad. Often they are very bad, as they disrupt production and lower social welfare as in the Great Depression in the US. Hoggarth et al. (2002) carefully measure the costs of a wide range of recent financial crises [...]...
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| The cash-flow problem |
| 2008-06-20 14:54:11 |
After the mass privatization process ended IPFs had to survive with the acquired portfolio. Several trends were obvious in both countries. First of all, the number of IPFs decreased significantly. In Russia from the 650 licensed IPFs only 350 were active in 1995, according to a governmental estimate. There were 67 mergers among IPFs and [...]...
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| Government ownership |
| 2008-06-20 11:30:17 |
Many countries in the world neglected one of the important aspects of financial sector - the government ownership of banks. The attitude toward government ownership of banks was different across time. In 1960s and 1970s government ownership of banks was strongly supported by economists. But recent economic views support benefits of private ownership of banks. [...]...
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| Stock Exchanges and Market Inefficiencies in China |
| 2008-06-19 09:35:36 |
Since the inception of China’s domestic stock exchanges, the SHSE and SZSE, in 1990, they have been growing very fast. At the end of 2005, HKSE was ranked 8th among the largest stock exchanges in the world, with the total capitalization reaching roughly half of GDP. Despite the fast growth of the markets, however, their [...]...
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| Banking Auditing |
| 2008-06-17 13:04:39 |
From the perspective of the regulatory institutions market discipline can exist only under the supervision of efficient regulatory bodies. One of the changes that occurred in the institutional environment of the financial system was the separation of the supervision and regulatory functions of the Central Bank of Argentina by re-creating the Superintendency as a [...]...
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| Brief Overview of China’s Financial System |
| 2008-06-17 09:20:43 |
Prior to 1949, the financial system of China was very well developed. The earliest form of capitalism can be seen at the times of the late Ming Dynasty (17th century), when commerce was initiated in the Zhejiang-Jiangsu area and further developed during the Qing Dynasty (17th century to early 20th century). Late Qing China had [...]...
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| Privatization of Public Banks |
| 2008-06-16 13:00:40 |
Market discipline is enhanced by its institutions both the regulatory ones and the direct financial institutions. To be able to create an effective market-based regulatory system, Argentina started to make changes in the ownership structure of the financial institutions. Because of the administrative organization of the country at the end of 1980’s, every province had [...]...
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| Regulations on Domestic and Foreign Bank Entry |
| 2008-06-16 11:26:39 |
Another issue, which is paid much attention, is regulation on bank entry. There are two opposing views about the regulation on bank entry in economic theory.
The supporters of regulation on bank entry stress the following arguments:
1. Effective regulation allows only healthy banks to enter the banking market and thus increase stability.
2. In reality [...]...
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| Bond Market in China |
| 2008-06-16 09:41:01 |
The China’s bond market did not grow as fast as the stock market, but from 1998 to 2003 it had an annual growth rate of 11.7% in terms of newly issued bonds, while total outstanding bonds reached RMB 1,933.61 billion (or US$233 billion). The second largest component of the bond market is called “policy financial [...]...
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| Financial Regulation in Argentina |
| 2008-06-15 12:56:44 |
At the end of 1980’s, the banking system in Argentina was regulated by the 1977’ Banking Law. Argentina confronted with the highest levels of devaluation of currency (~60000%) and inflation (~50000%) in history. The financial system was virtually destroyed, and immediate changes were needed. In order to stop the hyperinflation and to reestablish the macroeconomic [...]...
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| Regulation on Bank Activities and Mixing Banking and Commerce |
| 2008-06-15 11:22:51 |
Almost in all countries in the world there has been a discussion about whether to allow banks to engage ‘non-traditional’ activities, such as securities underwriting, insurance underwriting and real estate investment, and mixing banking and commerce, that banks own and control non-financial firms, or non-financial firms own and control banks.
In economic theory there are [...]...
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| Impact of Basel II Accord on banking system and bank behavior |
| 2008-06-14 11:20:26 |
There are two major impacts of Basel II on banking system:
q The standardized approach often yields much lower regulatory capital levels than the internal model approach, precisely the opposite of what was intended. This may destroy the incentives for banks to migrate toward the IRB approach. It remains an open question just how different the [...]...
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| Operational risk |
| 2008-06-13 11:17:20 |
Operational risk is defined as “the risk of direct or indirect loss resulting from inediquate or failed internal processes, people and systems or from external events” (Basel Committee on Banking Supervision(2001), § 547). Both the unbundling of the minimum capital requirement into risk sensitive measures of credit and market risk, and the importance of operational [...]...
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| The Size and Efficiency of Chinese Banks and Financial Markets |
| 2008-06-13 09:30:48 |
China’s banking system is very important in terms of size relative to its stock markets, with its ratio of total bank credit to GDP (1.11) higher than even the German-origin countries (with a weighted average of 0.99). However, when we consider bank credit issued (or loans made) to the Hybrid Sector only, China’s ratio drops [...]...
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