Journal of Central Banking Theory and Practice最新文献_第8页

Liquidity Dynamics of Banks in Emerging Market Economies 新兴市场经济体银行的流动性动态

IF 1.4

Journal of Central Banking Theory and Practice Pub Date : 2022-01-01 DOI: 10.2478/jcbtp-2022-0008

T. Mashamba

引用次数: 5

Ready or not? Constructing the Monetary Union Readiness Index 准备好了吗?构建货币联盟准备指数

IF 1.4

Journal of Central Banking Theory and Practice Pub Date : 2022-01-01 DOI: 10.2478/jcbtp-2022-0002

Szilárd Erhart

引用次数: 0

How Does International Financial Integration Really Affect Post-Transition Countries' Growth? Empirical evidence from the CEE-10 countries 国际金融一体化如何真正影响转型后国家的增长？来自中东欧10国的经验证据

IF 1.4

Journal of Central Banking Theory and Practice Pub Date : 2021-09-01 DOI: 10.2478/jcbtp-2021-0027

M. Ganić, M. Hrnjic

{"title":"How Does International Financial Integration Really Affect Post-Transition Countries' Growth? Empirical evidence from the CEE-10 countries","authors":"M. Ganić, M. Hrnjic","doi":"10.2478/jcbtp-2021-0027","DOIUrl":"https://doi.org/10.2478/jcbtp-2021-0027","url":null,"abstract":"Abstract This paper seeks to empirically explore how an international financial integration influences a country’s GDP growth. The long run relationship is tested by PMG estimator for the sample of ten EU countries from Central, Eastern and Southeastern Europe (CEE-10 countries) between 1995 and 2017. Prior to the conducting of dynamic panel analysis based on PMG estimators, several panel unit root tests were conducted, as well as panel co integration tests. The findings offer mixed impact financial integration on growth. Among the measures of financial integration, growth of the CEE-10 countries is mostly driven in the long run by FDI inflows as well as remittances and financial openness. On the contrary, the study suggests a reversal relationship between growth and financial integration measured by Gross Foreign Assets and Liabilities in percentages of GDP. It might be explained with a fact that CEE-10 countries have not yet reached a certain level of financial development in order to benefit from financial integration. The study concludes that international financial integration does not per se enhance economic growth and country’s growth in the CEE-10 countries can be reached at a higher level of financial integration, further increase their financial openness and financial development.","PeriodicalId":44101,"journal":{"name":"Journal of Central Banking Theory and Practice","volume":null,"pages":null},"PeriodicalIF":1.4,"publicationDate":"2021-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42813414","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

Prospects of Artificial Intelligence and Machine Learning Application in Banking Risk Management 人工智能和机器学习在银行风险管理中的应用前景

IF 1.4

Journal of Central Banking Theory and Practice Pub Date : 2021-09-01 DOI: 10.2478/jcbtp-2021-0023

N. Milojević, S. Redzepagić

{"title":"Prospects of Artificial Intelligence and Machine Learning Application in Banking Risk Management","authors":"N. Milojević, S. Redzepagić","doi":"10.2478/jcbtp-2021-0023","DOIUrl":"https://doi.org/10.2478/jcbtp-2021-0023","url":null,"abstract":"Abstract Artificial intelligence and machine learning have increasing influence on the financial sector, but also on economy as a whole. The impact of artificial intelligence and machine learning on banking risk management has become particularly interesting after the global financial crisis. The research focus is on artificial intelligence and machine learning potential for further banking risk management improvement. The paper seeks to explore the possibility for successful implementation yet taking into account challenges and problems which might occur as well as potential solutions. Artificial intelligence and machine learning have potential to support the mitigation measures for the contemporary global economic and financial challenges, including those caused by the COVID-19 crisis. The main focus in this paper is on credit risk management, but also on analysing artificial intelligence and machine learning application in other risk management areas. It is concluded that a measured and well-prepared further application of artificial intelligence, machine learning, deep learning and big data analytics can have further positive impact, especially on the following risk management areas: credit, market, liquidity, operational risk, and other related areas.","PeriodicalId":44101,"journal":{"name":"Journal of Central Banking Theory and Practice","volume":null,"pages":null},"PeriodicalIF":1.4,"publicationDate":"2021-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43154231","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 13

Great Power, Great Responsibility: Addressing the Underestimated Issue of Central Bank’s Social Responsibility 大国担当：解决低估的央行社会责任问题

IF 1.4

Journal of Central Banking Theory and Practice Pub Date : 2021-09-01 DOI: 10.2478/jcbtp-2021-0022

G. Vallet

引用次数: 7

The impact of a political shock on foreign exchange markets in a small and open economy: A dynamic modelling approach 政治冲击对小型开放经济体外汇市场的影响：动态建模方法

IF 1.4

Journal of Central Banking Theory and Practice Pub Date : 2021-09-01 DOI: 10.2478/jcbtp-2021-0028

I. Onour, B. Sergi

{"title":"The impact of a political shock on foreign exchange markets in a small and open economy: A dynamic modelling approach","authors":"I. Onour, B. Sergi","doi":"10.2478/jcbtp-2021-0028","DOIUrl":"https://doi.org/10.2478/jcbtp-2021-0028","url":null,"abstract":"Abstract This paper aims to analyse the dynamics of foreign exchange markets in a country facing political uncertainty that prompt capital outflow from the country1. The economic environment under investigation is characterized by dual foreign exchange markets: a formal or official market for foreign exchange with insufficient and volatile foreign exchange flows, and a strong and thriving informal market, with a higher exchange rate2. The findings in the paper indicate a necessary condition for stabilization of the exchange rate system and that is that the return on investment should exceed the depreciation rate of domestic currency in the formal foreign exchange market. This condition implies that the return on investment should at least compensate investors for the opportunity cost of holding domestic money in their private portfolio wealth. Our findings also indicate that stability of the foreign exchange rates is more difficult to achieve under insufficient official reserves as the recovery process from a shock becomes more costly in terms of time period needed for the adjustment process to complete. The dynamic path of the foreign exchange premium shows that under massive capital outflow caused by economic sanctions, the informal market exchange rate overshoots the equilibrium stationary exchange rate, and the size of such overshooting depends on the size of available foreign exchange reserves held by the central bank.","PeriodicalId":44101,"journal":{"name":"Journal of Central Banking Theory and Practice","volume":null,"pages":null},"PeriodicalIF":1.4,"publicationDate":"2021-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43716874","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

Output Losses from Currency Crises and the Role of Central Bank 货币危机造成的产出损失与中央银行的作用

IF 1.4

Journal of Central Banking Theory and Practice Pub Date : 2021-09-01 DOI: 10.2478/jcbtp-2021-0025

M. Yazdani, M. Nikzad

{"title":"Output Losses from Currency Crises and the Role of Central Bank","authors":"M. Yazdani, M. Nikzad","doi":"10.2478/jcbtp-2021-0025","DOIUrl":"https://doi.org/10.2478/jcbtp-2021-0025","url":null,"abstract":"Abstract Generally, one of the important issues related to currency crises is the output losses caused by these phenomena. In this study, determinants of output losses and particularly the role of the central bank will be evaluated during currency crises. Moreover, the paper tries to investigate the roles of macroeconomic variables and also monetary, fiscal and exchange rate policies on the output losses during currency crises. In this regard, an econometric model with panel data has been used for emerging market countries during 1980-2016. The results show that currency crises accruing have a positive and significant effect on output losses. While the successful defence of central bank has had the negative effects on the output losses, but it is positive for the unsuccessful defence and the non-intervention or immediate depreciation. However, the role of the macroeconomic condition is important where total foreign reserves can be considered as a buffer against the output losses, while inflation and deviation of the real exchange rate from its trend have had positive effects on the output losses. Finally, the output losses can be reduced by an active monetary, fiscal and exchange rate policies.","PeriodicalId":44101,"journal":{"name":"Journal of Central Banking Theory and Practice","volume":null,"pages":null},"PeriodicalIF":1.4,"publicationDate":"2021-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49503732","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 4

Non-Performing Loan Determinants and Impact of COVID-19: Case of Bosnia and Herzegovina 不良贷款决定因素和2019冠状病毒病的影响:波斯尼亚和黑塞哥维那的案例

IF 1.4

Journal of Central Banking Theory and Practice Pub Date : 2021-09-01 DOI: 10.2478/jcbtp-2021-0021

Amila Žunić, Kemal Kozaric, Emina Žunić Dželihodžić

引用次数: 17

The Evaluation of Block Chain Technology within the Scope of Ripple and Banking Activities 区块链技术在瑞波币和银行活动范围内的评估

IF 1.4

Journal of Central Banking Theory and Practice Pub Date : 2021-09-01 DOI: 10.2478/jcbtp-2021-0029

Erdogan Kaygin, Yunus Zengi̇n, Ethem Topcuoglu, Serdal Ozkes

引用次数: 4

Nominal, Structural and Real Convergence of the EU Candidate Countries’ Economies 欧盟候选国经济的名义、结构和实际趋同

IF 1.4

Journal of Central Banking Theory and Practice Pub Date : 2021-09-01 DOI: 10.2478/jcbtp-2021-0024

Daniela Bobeva

引用次数: 0