1985 s law promulgated replaced by the rules on administration of foreign and joint venture financial institutions in shanghai of 1990
Banking reforms in the transitional economy of china
... they get involved in the restructuring of the state-owned enterprises 31 Table 1.8: Summary of closure of financial institutions in China Closed institutions Closing date Face value on closing ... protects the lawful interests of the key players in the banking industry, namely, the commercial banks, the depositors and other customers, the Law of the People s Bank of China” was issued to “confirm” ... RMB270 billion special treasury bonds by the Ministry of Finance It also coordinated some restructuring, merger deals and closing down of some of the banks and non-bank financial institutions that...
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VIETNAM’S EXCHANGE RATE POLICY AND IMPLICATIONS FOR ITS FOREIGN EXCHANGE MARKET, 1986-2009 doc
... transactions Local transactions only Indonesia Both cross-border and local transactions Local transactions only Malaysia Both cross-border and local transactions Local transactions only Philippines Both ... network of associates, to 45 bank forex dealers in HCMC and Hanoi The questionnaire contains 28 questions (the instrument is available from the authors upon request) Responses from 39 dealers, each ... bank in designing and offering option contracts to customers as a response to the strong appreciations of the euro against the US dollar at the time, which were generating exchange rate risk for...
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Capital account liberalization and choice of exchange rate regimes the case of china
... times of that in 1978 The government increased its expenditure mainly for two uses One of the uses was subsidizing - 13 - the loss making SOEs, especially those state owned banks and other financial ... it is mainly because of its huge revenue, not low expenses All the above analysis on fiscal problems brings us some conclusions and policy suggestions for China China s fiscal position has been ... equities (B-share stocks in SHSE and SZSE were open to foreign investors and overseas Chinese only before February 19, 2001; and there are also some companies listed on stock exchanges in Hong Kong,...
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Revision of Nominal Effective Exchange Rate (NEER) and Real Effective Exchange Rate (REER) Indices.doc
... cent in 1991-92 to 6.1 per cent in 2004-05 The increase in India s trade with China has been more pronounced in the last four years The inclusion of China and Hong Kong SAR reflects an increasing ... being Asian - the Chinese yuan and the Hong Kong Dollar The rapid growth in India s foreign trade with China and Hong Kong in the recent years has been the underlying factor for including these ... keeping in view the rapid change in the destinations of India s foreign trade in contrast to the fixed weights used hitherto for constructing REER/NEER series Table gives the normalized weights...
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Unit 9 exchange rate key
... purely speculative Enormous amounts of money move round the world, chasing high interest rates or capital gains, as investors- including rich individuals, companies and pension funds- seek to ... to rust and is corrosion-resistant Because of gold s versatility, it can be used in many applications One of its primary uses is as jewelry and adornment In Mesopotamia (now Iraq) gold cups and ... maximize the value of their assets In London alone, in the late 199 0s, over $300 billion worth of currency was traded on an average day- the equivalent of about 30 %of the value of the goods Britain...
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Tài liệu Exchange rate exposure doc
... is covered in Section and Section describes our dataset The benchmark exposure results and the robustness of these results are discussed in Section The second-stage results on the links between ... also interested in whether the same set of firms is exposed across subsamples and in the stability of the direction of exposure Part A of Table reports the subsample exposure results for the USD ... second source, The Directory of Multinationals (1998), includes the 500 largest firms with consolidated sales in excess of $US billion and overseas sales in excess of $US 500 million in 1996...
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Tài liệu Doubler for Extending Reach of Two-Pair Fixed Rate HDSL docx
... Minneapolis, Minnesota USA 55440-1101 Specifications published here are current as of the date of publication of this document Because we are continuously improving our products, ADC reserves ... Inc views its patent portfolio as an important corporate asset and vigorously enforces its patents Products or features contained herein may be covered by one or more U .S or foreign patents 100189PR ... reserves the right to change specifications without prior notice At any time, you may verify product specifications by contacting our headquarters office in Minneapolis ADC Telecommunications, Inc...
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Tài liệu The importance of interest rates for forecasting the exchange rate doc
... rate specifications The rest of this paper is organised as follows In Section we discuss the hypothesis of PPP and how possible sources of deviations from PPP can be linked to the UIP condition Section ... Identification, Estimation and Testing in Panel Data Models with Attrition: The Role of the Missing at Random Assumption 306 B Bye and T Åvitsland (2001): The welfare effects of housing taxation in a distorted ... a survey) On the other hand, Johansen and Juselius (1992) have suggested that one possible reason why so many researches have failed to find evidence in support of these parity conditions is the...
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Do Central Banks Respond to Exchange Rate Movements? A Structural Investigation¤ potx
... draws of impulse response functions and variance decompositions can be obtained by transforming the θ draws accordingly In the subsequent empirical analysis we are interest in examining the hypothesis ... by sample size While the estimates will be dominated to some extent by the prior in small samples, the posterior summarizes the information contained in the data in a consistent fashion, whose ... periods for the individual countries are as reported above Our list of instruments includes lagged values of the variables in the regression equation We performed estimation by using two measures of...
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THE ECONOMICS OF THE EXCHANGE RATE
... cho kết khả quan s dụng đánh giá mẫu (in- samples test), lại Trang The Economics of Exchange Rate – Mark P Taylor cho kết ý nghĩa thống kê đánh giá mẫu (out -of- samples test) so s nh với mô hình ... hối tuân theo lý thuyết cân lãi suất có phòng ngừa (covered interest rate parity) lý thuyết cân s c mua (purchasing power parity) Lý thuyết cân lãi suất có phòng ngừa cho chênh lệch lãi suất hai ... (efficient market hypothesis) thị trường ngoại hối đưa s điều kiện cân khác bên cạnh điều kiện cân (cân lãi suất không phòng ngừauncovered interest rate parity); phần hai trình bày s lý thuyết kiểm...
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Báo cáo khoa học: Modeling of ATP–ADP steady-state exchange rate mediated by the adenine nucleotide translocase in isolated mitochondria potx
... Here, To and Do are the concentrations of free ATP and ADP outside of mitochondria Values of dissociation constants are listed in Table The second is the binding dissociation of protons to from ... concentrations of intramitochondrial nucleotides on the basis of DWm value and values of extramitochondrial ADP and ATP makes it possible to use the model as a toolkit for the study of responses of the ... represent the full system describing the phosphorylation of mitochondria The following ion balances have been taken into account in the model The rst is the binding dissociation of magnesium ions...
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The sensitivity of bank stock returns to market, interest and exchange rate risks docx
... results on the sensitivity of bank stocks to risk factors are discussed in section Section examines the pricing of risk factors Section contains a brief conclusion The multifactor index model 2.1 The ... as follows: Section presents the multifactor model and discusses several issues associated with its use The micro international banking model is presented in section and the empirical results ... interest rate sensitivity of common stocks of financial institutions to the maturity composition of the firm s assets and liabilities Solnik (1974) raised the issue of exchange rate risk in an equilibrium...
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WORKING PAPER NO. 218 THE ZERO-INTEREST-RATE BOUND AND THE ROLE OF THE EXCHANGE RATE FOR MONETARY POLICY IN JAPAN potx
... this depreciation the recessionary and deflationary impact of the shocks to the economy is dampened substantially The depth of the recession and deflation is similar to the first simulation shown in ... expanding the supply of the monetary base and bringing down the short-term rate of interest Since prices of goods and services adjust more slowly than those on financial instruments, such a money injection ... depreciation of the domestic currency In this context, we also investigate the international consequences of these proposals Our findings indicate that the zero bound induces noticeable losses in terms of...
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Derivative Exposure and the Interest Rate and Exchange Rate Risks of U.S. Banks ppt
... provides a description of firm-specific balance sheet and derivative exposure variables used in the second-step cross-sectional estimation The cross-sectional estimation is based on equations (4) and ... missing balance sheet variables are dropped from estimation in the second step This reduces the sample size in the second step to 50 banks The cross sectional estimation is based on bank-specific ... exposures, on interest rate and exchange rate risks while recognizing the jointly determined nature of these risks The results of this study provide the first formal estimates of the joint...
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The Exchange Rate Exposure of U.S. and Japanese Banking Institutions potx
... offices c The sum of foreign investment assets and foreign commercial loans less interest and non-interest bearing deposits d The cumulative translation effects of exchange rates on assets and ... explanation for this finding arguably stems from the activities taken on by those banking institutions As shown in Table 3, these are the banking institutions that seem to have the largest short positions ... summarizes the results of the estimation The table provides statistics that describe median estimates and the standard deviation of the estimates, some aspects of its range, and the number of firms...
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Thuyết trình Exchange Rate pass-through and monetary policy in Croatia
... làm s tảng cho việc lựa chọn s giá đưa vào phân tích nghiên cứu Tổng quan nghiên cứu trước McCarthy, 2000, “Pass-Through of Exchange Rates and Import Prices to Domestic Inflation in Some Industrialized ... hoàn toàn đến giá nhập Tổng quan nghiên cứu trước Gosh and Wolf, 2001, “Imperfect Exchange Rate PassThrough: Strategic Pricing and Menu Costs” Nghiên cứu hiệu ứng truyền dẫn ngắn hạn không hoàn ... đồng Mark Đức Ngay sau ổn định đạt năm 1994, s ch tiền tệ trì theo hướng trọng đến tỷ giá hối đoái Nỗi lo s thả Khi so s nh Croatia với kinh tế chuyển đổi khác với chỉnh s a tỷ giá hối đoái...
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