International Commodity Prices and Domestic Bank Lending in Developing Countries

Bank Lending and Property Prices: Some International Evidence*

Over the last two decades, bank lending has been closely correlated with property prices in both industrialised and developing countries. From previous empirical studies it is not clear whether these cycles were driven by property prices or lending. In this study I analyse the direction of causality between bank lending and property prices in 16 industrialised countries over the last two decade...

Bank lending to developing countries and possible solutions to international debt problems

The Changing Relationship Between Commodity Prices and Equity Prices in Commodity Exporting Countries

The paper explores the linkage between equity and commodity markets, focusing in particular on its evolution over time. It documents that a country’s equity market value has significant out-of-sample predictive ability for the future global commodity price index for several primary commodity-exporting countries. The out-of-sample predictive ability of the equity market appears around 2000s. The...

Liquidation, Asset Prices and the Recycling Channel of Bank Lending

This paper investigates the e¤ects on the asset market of bank actions in dealing with their non-performing loans. It is demonstrated that liquidation of bad loans may not be as detrimental to asset prices as commonly argued, because funds recouped from liquidation can be recycled into new loans which support the asset market. While capital regulation protects the health of banks, it may limit ...

Transmission of International Prices of Corn to Iranian Domestic Markets

Market volatility remains one of the most important research fields in agricultural economics.Interestingly, price transmission mechanism seems to be symmetric in sectors that are likely to be of high political power.This paper analyzes the price transmission effects from international markets to domestic markets for corn in Iran. For this purpose, we estimate the elasticity of substitution bet...