Crisis, Risk and Stability in Financial Markets (Palgrave by Juan Fernández de Guevara Radoselovics, José Pastor

By Juan Fernández de Guevara Radoselovics, José Pastor Monsálvez

This ebook offers an in-depth appreciation of key themes regarding the behaviour of economic associations within the hindrance and stresses components of significant learn curiosity. It covers a range of papers specialising starting from the research of financial institution and inventory marketplace functionality within the difficulty, to different parts reminiscent of microinsurance and social lending.

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Additional info for Crisis, Risk and Stability in Financial Markets (Palgrave Macmillan Studies in Banking and Financial Institutions)

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To take this possibility into account, in this chapter we introduce an GARCH-type model, originally developed by Bollerslev (1986), that permits the returns on assets to follow a generalized autoregressive conditional heteroscedastic process. 2) Since εt is assumed to be normal, the ROA is normally distributed conditional to the variance, which in turn depends on the information up to the previous period. Although roat is modelled as being serially uncorrelated, its square can be expressed as an autoregressive process (specifically an ARMA (p, q)).

6). 5. This is particularly clear in 2008. Even though the average EU bank almost managed to keep interest margins unchanged (in some regions these margins were even widened), the leverage spreads of the average bank in all regions decreased substantially. For the average bank on the EU level as well as in two regions the leverage spread was in fact eroded after consideration to loan loss provisions. In one region, the leverage spread of the average bank was eroded even before these provisions.

I. 1998. Financial sector development and economic growth: the South–Asian experience. Journal of Asian Economics. 9, 503–17. Al-Tamimi, H. A. , Al-Awad and M. Charif, H. A. 2001. Finance and growth: evidence from some Arab countries. Journal of Transnational Management Development. 72, 3–18. Al-Yousif, Y. K. 2002. Financial development and economic growth: another look at the evidence from developing countries. Review of Financial Economics. 11, 131–50. Arestis, P. and Demetriades, P. 1997. Financial development and economic growth, assessing the evidence.

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