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Business and Economics > Investments: Stocks

You are looking at 1 - 2 of 2 items for :

  • Type: Journal Issue x
  • Governmental Loans, Loan Guarantees, Credits, and Grants x
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Cover IMF Working Papers
Government Intervention and Bank Market Power: Lessons from the Global Financial Crisis for the COVID-19 Crisis
Ms. Deniz O Igan
,
Mr. Maria Soledad Martinez Peria
,
Mr. Nicola Pierri
, and
Mr. Andrea F Presbitero
The COVID-19 pandemic could result in large government interventions in the banking industry. To shed light on the possible consequences on market power, we rely on the experience of the global financial crisis and exploit granular data on government interventions in more than 800 banks across 27 countries between 2007 and 2017. For identification, we use a multivariate matching method. We find that intervened banks experience a significant decline in market power with respect to matched non-intervened banks. This effect is more pronounced for larger and longer interventions and is driven by a rise in costs—mostly because of higher loan impairment charges—which is not followed by a similar increase in prices.
Keywords:
Banks; Government intervention; Market power; Lerner index; WP; intervened bank; bank market power; TARP-recipient bank; intervention characteristic; A. measuring market power; Bank resolution; Loans; Global financial crisis of 2008-2009; Nonperforming loans; Global
Cover IMF Working Papers
Indonesia's Public Wealth: A Balance Sheet Approach to Fiscal Policy Analysis
Ms. Majdeline El Rayess
,
Avril Halstead
,
Jason Harris
,
Mr. John Ralyea
, and
Alexander F. Tieman
Public sector balance sheets (PSBS) provide a framework for comprehensive and deep analysis of fiscal risks and policies. To illustrate these benefits, this paper shows how PSBS analysis can be applied to assess risks to Indonesia’s public sector stemming from its public corporations. The paper also shows that the government’s plans to finance a ramp-up in public investment with additional tax revenue increases both economic growth and public wealth.
Keywords:
WP; asset; GDP; real GDP; investment; balance sheet; Public Sector Balance Sheet; Intertemporal Fiscal Balances; Public Investment; Indonesia.; asset revaluation; return on equity; public sector; baseline GDP; nonfinancial public corporation asset; cash flow; asset instrument; current ratio; Business enterprises; Financial statements; Public sector; Public investment spending; Stocks