Publication:
Dealing with the Challenges of Macro Financial Linkages in Emerging Markets

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dc.contributor.authorGhosh, Swati R.
dc.contributor.authorCanuto, Otaviano
dc.contributor.editorCanuto, Otaviano
dc.contributor.editorGhosh, Swati R.
dc.date.accessioned2013-10-25T21:16:53Z
dc.date.available2013-10-25T21:16:53Z
dc.date.issued2013-10-11
dc.description.abstractThe 2008 financial crisis has highlighted the challenges associated with global financial integration and emphasized the importance of macro financial linkages. In the financial sector, attention is being directed toward macro prudential regulations that are geared toward the stability of the financial system as a whole. The Third Basel Accord (Basel III) aims to dampen the pro-cyclicality of the financial sector and to reduce cross sectional systemic risks partly by introducing measures to address liquidity and issues of banks being too big to fail. In the macro arena, the facts that price stability was not sufficient to guarantee macroeconomic stability and that financial imbalances developed despite low inflation and small output gaps have highlighted the need for additional tools (macro prudential policies) to complement monetary policy in countercyclical management. Emerging markets face different conditions and have key structural features that can have a bearing on the relevance and efficacy of the measures. The chapters in this volume discuss the challenges of dealing with macro financial linkages and explore the policy toolkit available for dealing with systemic risks with particular reference to emerging markets. This report is organized as follows: chapter one is adapting macro prudential approaches to emerging and developing economies; chapter two is adapting micro prudential regulation for emerging markets; chapter three presents capital flow volatility and systemic risk in emerging markets: the policy toolkit; chapter four presents monetary policy and macro prudential regulation: whither emerging markets; chapter five deals with macro prudential policies to mitigate financial vulnerabilities in emerging markets; chapter six presents sailing through the global financial storm; and chapter seven presents operation of macro prudential policy measures.en
dc.identifier.doi10.1596/978-1-4648-0002-3
dc.identifier.isbn978-1-4648-0002-3
dc.identifier.other10.1596/978-1-4648-0002-3
dc.identifier.urihttps://hdl.handle.net/10986/16202
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.relation.ispartofseriesWorld Bank Study;
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectaffiliate
dc.subjectarbitrage
dc.subjectAsset Class
dc.subjectasset classes
dc.subjectasset holdings
dc.subjectAsset Price
dc.subjectasset prices
dc.subjectasset sales
dc.subjectasset value
dc.subjectasset-backed securities
dc.subjectbad debt
dc.subjectBalance Sheet
dc.subjectbalance sheets
dc.subjectbank assets
dc.subjectbank balance sheets
dc.subjectBank Branches
dc.subjectBank Equity
dc.subjectBank for International Settlements
dc.subjectbank holding
dc.subjectbank holding companies
dc.subjectBank Indonesia
dc.subjectBank Lending
dc.subjectBank Loans
dc.subjectBank of England
dc.subjectBank of Japan
dc.subjectBank of Korea
dc.subjectbank portfolios
dc.subjectbanking assets
dc.subjectbanking regulation
dc.subjectBanking Sector
dc.subjectbanking supervision
dc.subjectbanking system
dc.subjectbanking systems
dc.subjectBankruptcy
dc.subjectBanks
dc.subjectbasis points
dc.subjectbond
dc.subjectbond credit rating
dc.subjectboom-bust cycles
dc.subjectBorrower
dc.subjectbusiness cycle
dc.subjectBusiness Cycles
dc.subjectCapital Adequacy
dc.subjectCapital Flow
dc.subjectCapital Flows
dc.subjectcapital gains
dc.subjectCapital Inflow
dc.subjectCapital Inflows
dc.subjectCapital Markets
dc.subjectcapital requirement
dc.subjectCapital Requirements
dc.subjectCDs
dc.subjectCentral Banking
dc.subjectcentral banks
dc.subjectcertificates of deposit
dc.subjectcollateral
dc.subjectCommercial Banks
dc.subjectcommercial paper
dc.subjectConsumer Loans
dc.subjectCorporate Debt
dc.subjectCorporate Governance
dc.subjectCountry Risk
dc.subjectCredit Default
dc.subjectCredit Default Swap
dc.subjectcredit growth
dc.subjectCredit Market
dc.subjectcredit unions
dc.subjectcreditor
dc.subjectcreditors
dc.subjectCurrency
dc.subjectCurrency Crisis
dc.subjectDebentures
dc.subjectDebt
dc.subjectdebt management
dc.subjectdebt obligation
dc.subjectdebt overhang
dc.subjectdebt restructuring
dc.subjectDebts
dc.subjectDeposit
dc.subjectdepositors
dc.subjectDeposits
dc.subjectDerivatives
dc.subjectdeveloping countries
dc.subjectDevelopment Bank
dc.subjectdomestic credit
dc.subjectDomestic Currency
dc.subjectdomestic interest rate
dc.subjectEconomics
dc.subjectemerging economies
dc.subjectEmerging Market
dc.subjectemerging market economies
dc.subjectEmerging Markets
dc.subjectemployment
dc.subjectEquilibrium models
dc.subjectEquity Financing
dc.subjectequity funds
dc.subjectEscrow
dc.subjectEuropean Central Bank
dc.subjectExchange Commission
dc.subjectExchange Rate
dc.subjectexternalities
dc.subjectfinancial assets
dc.subjectFinancial Capital
dc.subjectFinancial Crises
dc.subjectFinancial Crisis
dc.subjectFinancial Development
dc.subjectFinancial Distress
dc.subjectfinancial flows
dc.subjectFinancial Instability
dc.subjectFinancial Institution
dc.subjectfinancial institutions
dc.subjectFinancial Integration
dc.subjectfinancial market
dc.subjectfinancial markets
dc.subjectFinancial Regulation
dc.subjectFinancial Services
dc.subjectfinancial stability
dc.subjectfinancial stress
dc.subjectFinancial Studies
dc.subjectFinancial System
dc.subjectfinancial systems
dc.subjectFiscal Policy
dc.subjectForeign Assets
dc.subjectForeign Bank
dc.subjectForeign Banks
dc.subjectforeign currency
dc.subjectForeign Debt
dc.subjectforeign direct investment
dc.subjectForeign Exchange
dc.subjectForeign Exchange Transactions
dc.subjectForeign Inflows
dc.subjectglobal economy
dc.subjectGlobal Finance
dc.subjectgross domestic product
dc.subjecthedge funds
dc.subjectholding
dc.subjecthome equity
dc.subjecthousehold wealth
dc.subjectHousing
dc.subjectHousing Prices
dc.subjectincome growth
dc.subjectInflation
dc.subjectinformation disclosure
dc.subjectinsurance
dc.subjectinterbank markets
dc.subjectInterest Rates
dc.subjectInternational Bank
dc.subjectInternational Finance
dc.subjectInternational Financial Contagion
dc.subjectinternational markets
dc.subjectinvestment banks
dc.subjectinvestment vehicles
dc.subjectinvestor bases
dc.subjectinvestor confidence
dc.subjectline of credit
dc.subjectLiquidity
dc.subjectLiquidity Ratio
dc.subjectloan
dc.subjectLoanable Funds
dc.subjectlocal lenders
dc.subjectmacroeconomic fluctuation
dc.subjectMacroeconomic Policies
dc.subjectmacroeconomic policy
dc.subjectmacroeconomic stability
dc.subjectmacroeconomics
dc.subjectMarket discipline
dc.subjectmarket failures
dc.subjectmarket prices
dc.subjectmaturities
dc.subjectMaturity
dc.subjectMaturity Date
dc.subjectmaturity transformation
dc.subjectMonetary Fund
dc.subjectmonetary policies
dc.subjectMonetary Policy
dc.subjectmoney market
dc.subjectmoney-market
dc.subjectMortgage
dc.subjectMortgage Finance
dc.subjectMortgage Loans
dc.subjectmortgage-backed security
dc.subjectNational Security
dc.subjectnegative shock
dc.subjectnonbank financial institutions
dc.subjectnonperforming loan
dc.subjectNPL
dc.subjectOutput Losses
dc.subjectpayment system
dc.subjectpenalties
dc.subjectPolicy Responses
dc.subjectPortfolio
dc.subjectportfolio choice
dc.subjectPortfolio Management
dc.subjectpresent value
dc.subjectPrice Changes
dc.subjectprice stability
dc.subjectPrivate Capital
dc.subjectPrivate Capital Inflow
dc.subjectPrivate Capital Inflows
dc.subjectPrivate Equity
dc.subjectprobability of default
dc.subjectprofitability
dc.subjectPrudential Regulation
dc.subjectPrudential Regulations
dc.subjectreal sector
dc.subjectregulatory forbearance
dc.subjectReserve
dc.subjectreserve requirements
dc.subjectreturn
dc.subjectreturn on equity
dc.subjectrisk taking
dc.subjectsavings
dc.subjectsavings banks
dc.subjectSecurities
dc.subjectsovereign ratings
dc.subjectsubnational finance
dc.subjectsubsidiaries
dc.subjectsubsidiary
dc.subjectsurcharges
dc.subjectSystemic Risk
dc.subjectTax
dc.subjecttime deposits
dc.subjecttransparency
dc.subjectType of Investor
dc.subjectvalue of assets
dc.subjectwithdrawal
dc.subjectwithdrawal of funds
dc.titleDealing with the Challenges of Macro Financial Linkages in Emerging Marketsen
dspace.entity.typePublication
okr.date.disclosure2013-10-11
okr.doctypePublications & Research::Publication
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.identifier.doi10.1596/978-1-4648-0002-3
okr.identifier.report81844
okr.language.supporteden
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicFinance and Financial Sector Development::Banks & Banking Reform
okr.topicFinance and Financial Sector Development::Currencies and Exchange Rates
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicPrivate Sector Development::Emerging Markets
okr.unitOff of Sr VP Dev Econ/Chief Econ (DECVP)
relation.isAuthorOfPublication9f42d4a7-f5f2-50a9-bba7-b0fa16636471
relation.isAuthorOfPublication.latestForDiscovery9f42d4a7-f5f2-50a9-bba7-b0fa16636471
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