Commodity Price Shocks and Financial Sector Fragility - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Commodity Price Shocks and Financial Sector Fragility write by Mr.Tidiane Kinda. This book was released on 2016-02-01. Commodity Price Shocks and Financial Sector Fragility available in PDF, EPUB and Kindle. This paper investigates the impact of commodity price shocks on financial sector fragility. Using a large sample of 71 commodity exporters among emerging and developing economies, it shows that negative shocks to commodity prices tend to weaken the financial sector, with larger shocks having more pronounced impacts. More specifically, negative commodity price shocks are associated with higher non-performing loans, bank costs and banking crises, while they reduce bank profits, liquidity, and provisions to nonperforming loans. These adverse effects tend to occur in countries with poor quality of governance, weak fiscal space, as well as those that do not have a sovereign wealth fund, do not implement macro-prudential policies and do not have a diversified export base. These findings are robust to a battery of robustness checks.
The Economics and Finance of Commodity Price Shocks
The Economics and Finance of Commodity Price Shocks - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Economics and Finance of Commodity Price Shocks write by Mikidadu Mohammed. This book was released on 2021-11-25. The Economics and Finance of Commodity Price Shocks available in PDF, EPUB and Kindle. The behaviour of commodity prices never ceases to marvel economists, financial analysts, industry experts, and policymakers. Unexpected swings in commodity prices used to occur infrequently but have now become a permanent feature of global commodity markets. This book is about modelling commodity price shocks. It is intended to provide insights into the theoretical, conceptual, and empirical modelling of the underlying causes of global commodity price shocks. Three main objectives motivated the writing of this book. First, to provide a variety of modelling frameworks for documenting the frequency and intensity of commodity price shocks. Second, to evaluate existing approaches used for forecasting large movements in future commodity prices. Third, to cover a wide range and aspects of global commodities including currencies, rare–hard–lustrous transition metals, agricultural commodities, energy, and health pandemics. Some attempts have already been made towards modelling commodity price shocks. However, most tend to narrowly focus on a subset of commodity markets, i.e., agricultural commodities market and/or the energy market. In this book, the author moves the needle forward by operationalizing different models, which allow researchers to identify the underlying causes and effects of commodity price shocks. Readers also learn about different commodity price forecasting models. The author presents the topics to readers assuming less prior or specialist knowledge. Thus, the book is accessible to industry analysts, researchers, undergraduate and graduate students in economics and financial economics, academic and professional economists, investors, and financial professionals working in different sectors of the commodity markets. Another advantage of the book’s approach is that readers are not only exposed to several innovative modelling techniques to add to their modelling toolbox but are also exposed to diverse empirical applications of the techniques presented.
Essays on the Effects of International Commodity Prices Shocks
Essays on the Effects of International Commodity Prices Shocks - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Essays on the Effects of International Commodity Prices Shocks write by Mauricio Stern. This book was released on 2023. Essays on the Effects of International Commodity Prices Shocks available in PDF, EPUB and Kindle. Many emerging economies depend on commodities whose prices are volatile. High prices for these commodities naturally help those sectors related to the production of the commodities, but the economic benefits for other sectors are ambiguous. These effects can be different according to the characteristics of the sector, leading to a positive or negative sectoral effect depending on several features. Also, commodity price shocks may affect spending differently according to the characteristics of the population. A feature prevalent in many emerging economies is a low degree of banking penetration, which can affect the magnitude of commodity shocks, because banking services are related to how people save and borrow, affecting their ability to smooth spending when they face income shocks. This dissertation studies the effects of commodity price shocks in exporting economies, analyzing the overall and sectoral effects, as well as the regional effects according to access to banking services among inhabitants. The first chapter analyzes the effect of commodity price fluctuations on both overall and sectoral outcomes in a commodity-exporting economy. Using Chilean and international copper market data, I find positive copper price changes stemming from copper-specific demand shocks generate a broad GDP expansion with no visible decline in the exports of any sector, including manufacturing. These results provide evidence against the Dutch disease hypothesis involving the crowding out effect of commodity price increases on the manufacturing sector. The second chapter studies how features of a commodity-exporting economy such as the degree of substitution between domestic and foreign goods, the income effect on labor supply, and trade policy related to tariffs on imports shape overall and sectoral effects of commodity price shocks. For that, I estimate key structural parameters of a small open economy business-cycle model with 6 sectors by matching my empirical impulse responses and find that a low degree of substitution between domestic and foreign goods explains the positive sectoral effect of a commodity price shock. Then, I evaluate how tariffs on imports shape the effect of commodity price shocks and find low tariffs make the small open economy less sensitive to commodity price shocks when the elasticity of substitution between domestic goods and imports is small. The third chapter studies the relationship between access to banking services and the magnitude of external shocks. Using quarterly data of the number of checking and savings bank accounts per person as an indicator of access to banking services, I analyze the effects of commodity price changes conditional on the number of bank accounts per person across Mexican states. I find decreases in commodity prices generate a bigger contraction in total production in states with low numbers of bank accounts per person. A rise in commodity prices generates a bigger expansion of the number of formal workers as well as a wider contraction in the number of informal workers in regions with a low number of bank accounts per person
Commodity Price Shocks and International Finance
Commodity Price Shocks and International Finance - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Commodity Price Shocks and International Finance write by Pang-hua Kevin Chang. This book was released on 1988. Commodity Price Shocks and International Finance available in PDF, EPUB and Kindle.
Resource Constraints and Global Growth
Resource Constraints and Global Growth - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Resource Constraints and Global Growth write by Efundem Agboraw. This book was released on 2017-10-03. Resource Constraints and Global Growth available in PDF, EPUB and Kindle. With substantial risks arising from resource constraints on global growth, serious questions are being posed about how a scarcity of finite resources may impact global social and political fragility. The research which forms the core of this book focuses on how this scarcity will impact the financial sector, especially through insurance, pension and banking activities. The UK finance sector, which is considered to be amongst the most globalised, is placed under the microscope, and its approaches to food and oil are particularly noteworthy. Interviews with senior financial experts are analysed alongside more traditional quantitative economic analysis to explore potential future impacts, the scope of natural resource constraints and their impact on the economy.
