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2. Determinants of banking system fragility: A regional perspective

Author

Degryse, Hans, Ather Elahi, Muhammad, and Penas, María Fabiana

Subjects
banking system stability, cross-regional contagion, financial integration
Abstract

Banking systems are fragile not only within one country but also within and across regions. We study the role of regional banking system characteristics for regional banking system fragility. We find that regional banking system fragility reduces when banks in the region jointly hold more liquid assets, are better capitalized, and when regional banking systems are more competitive. For Asia and Latin-America, a greater presence of foreign banks also reduces regional banking fragility. We further investigate the possibility of contagion within and across regions. Within region banking contagion is important in all regions but it is substantially lower in the developed regions compared to emerging market regions. For cross-regional contagion, we find that the contagion effects of Europe and the US on Asia and Latin America are significantly higher compared to the effect of Asia and Latin America among themselves. Finally, the impact of cross-regional contagion is attenuated when the host region has a more liquid and more capitalized banking sector. ispartof: FBE Research Report AFI_1263 pages:1-49 status: published

Published
2012

4. WHAT LIES AT THE CORE OF CORE INFLATION? AN EMPIRICAL ANALYSIS TO IDENTIFY THE DETERMINANTS OF CORE INFLATION IN PAKISTAN.

Author

Ghulam Ali, Mehwish, Ather Elahi, Muhammad, and Masood Ahmed, Qazi

Subjects
PURCHASING power, INCOME inequality, CENTRAL banking industry, PRICE inflation, COMMERCIAL loans, GROSS domestic product, ECONOMIC history
Abstract

Core inflation leads to erosion of purchasing power and distorts income distribution in favour of the rich and the creditors. Further, it aggravates poverty due to its regressive effect. By targeting core inflation, the Central Bank attempts to reduce poverty and improve income distribution. The Central Bank does and should target core inflation for the aforementioned objectives, hence it becomes necessary to identify if factors apart from monetary policy affect core inflation. This paper aims to identify the determinants of core inflation in Pakistan. This study is motivated by the lack of work done in identifying the determinants of core inflation in Pakistan. Using OLS analysis, we find that adaptive expectations, loans to private sector, real GDP growth rate and exchange rate all impact core inflation. Adaptive expectations are the largest contributor to core inflation. [ABSTRACT FROM AUTHOR]

Published
2015
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