Climate change and environmental risks are increasingly recognized as a concern for financial authorities, yet empirical evidence of the damage for bank balance sheets is relatively scant. This paper provides...
La présente note évalue la dynamique de la concurrence et les obstacles potentiels dans le secteur financier de l'UEMOA afin de fournir des recommandations de politique réalisables. Cette analyse a été...
Local currency bond markets provide a stable source of funding for emerging market sovereigns. A better understanding of the determinants of yields in this market can help improve sovereign debt management...
This report provides an assessment of economic and financial stability issues for some of the Pacific Islands (PICs). The report includes a summary of the PICs’ policy responses to the pandemic economic...
Since the Global Financial Crisis, Indonesia has experienced persistently higher yields on its domestic local currency government debt relative to peer countries with similar relevant characteristics...
The expansionary fiscal contraction (EFC) hypothesis states that fiscal austerity can increase output or consumption when a country is under heavy debt burdens because it sends positive signal about the...
Capital controls, policy measures used by governments to regulate cross-country financial flows, have become standard policy options in many emerging market economies. This paper will focus on what capital...
This paper conducts a simple stress test to gauge the ability of listed nonfinancial corporates to withstand shocks to earnings and receivables. It targets two basic accounting ratios that capture a firm’s...
This paper examines the macro-financial implications of the COVID-19 pandemic. The pandemic represents a massive macro-economic demand and supply shock with significant adverse ramifications for global...