...The sample was drawn from public and private sector banks located across the states in Northern...
By providing guidance about future economic developments, central banks can affect private sector expectations and decisions. This can improve welfare by reducing private sector forecast errors, but it can also magnify the impact of noise in central bank forecasts. I employ a model of heterogeneous information to compare outcomes under opaque and transparent monetary policies. While better central bank information is always welfare improving, more central bank information may not be.
Just over a decade after Russia's forced devaluation of the ruble and default on its debt -- which followed a commodity price collapse in the wake of the Asian crisis -- the country appears to be following a scarily similar trajectory. Russia is now financially more robust than in 1998, and its political leadership is undoubtedly stronger. But the parallels between the two crises are profoundly unsettling. Certainly, the global tightening of credit has exacerbated Russia's problems; the difficulty of refinancing the almost $500 billion of outstanding borrowing by private sector corporates and banks could yet break the country. The risks for Russia in 2009 are great. One can only hope that the fall in the oil price will be used as an opportunity by the government to put its economy -- an...
Efforts to recapitalize banks in the current crisis have been, to date, focused on government assistance under the Troubled Asset Relief Program (TARP), rather than private investment, and on bank holding companies, rather than banks. We describe three alternative or complementary approaches designed to lower the cost of bank recapitalizations by drawing in funds from the private sector and focusing on banks: rights offerings, debt restructurings, and FDIC-assisted bridge banks. Each approach was used in dealing with problem banks in the 1990s; each can be pursued without additional legislation; and each is worth considering now. We also propose two legal changes that would assist bank recapitalization: (1) the Federal Reserve should further modestly relax its rules under the Bank Holdi...
Bangladesh is a Southeast Asian developing country that has been experiencing a constant GDP growth of over 5% for the last decade. This growing trend in the economy can largely be attributed to the massive growth in the private sector, among whose banking industry has been the largest. With the mushrooming growth for the last 15 years, the banking industry has turned out to be one of the most competitive service industries in Bangladesh today. In order to attract the target customers and compete successfully, it is imperative that banks are aware of the factors customers consider important in selecting a bank. This study was carried out with the goal of evaluating the general pattern of preference for different kinds of banks by different types of customers and to identify the relative...
This paper contributes to literature by extending the analysis on efficiency assessment of commercial banks across Pakistan for the years from 2001 to 2006 by using Data Envelopment Analysis (DEA). The average efficiency scores of banks across Pakistan appear to be low. Foreign banks tend to perform better than those of the local banks in Pakistan, both private and public. However, private local banks perform better than those of their counterparts in the public sector. Furthermore, findings of the research support the global advantage hypothesis where foreign banks appear to be overcoming the cross-border disadvantages. This might be surfacing out of their superior investment strategies, advanced management techniques, and better-quality services to their clients. On the contrary, Paki...
The financial crisis has mutated into a fiscal crisis of governments, and the perpetrators of the economic crisis are back calling the tune. "A year ago, capitalism was wobbling," says John Monks, general secretary of the European Trade Union Confederation. "It was saved by the taxpayer, saved by the public realm, saved by welfare spending and tax cuts. Banks were saved in particular, and now the private sector is headed back to business as usual. In the present circumstance, it's almost, 'Let's get down to cutting back the role of the state and restore primacy of the market in as many places as we can.' At the moment, fear - used to bolster neoliberal political ideology - is driving conservatives' demand for government austerity programs and deficit reduction, as well as general cutb...
Boosting Scientific Study in the Islamic World In its April 17 issue, the British science journal Nature urged financial commitment from Islamic nations to boost science in the Muslim world. "The OIC is right to engage the private sector and development banks in efforts to reform science and technology, but public institutions must also play their part," Nature concluded.
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