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G28

Financial Institutions and Services: Government Policy and Regulation

Do Capital Requirements Affect Cost of Intermediation? Evidence from a Panel of South African Banks

Andrew Maredza
Since the 2007 sub-prime financial crisis, world bank capital ratios have increased. In this paper, we investigate the impact of increased bank capital requirements introduced under the Basel Accord framework on the costs of intermediation. We attempt to answer this central question by running...
Aug 2015
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Monetary policy and commodity terms of trade shocks in emerging market economies

Seedwell Hove, Albert Touna Mama and Fulbert Tchana Tchana
Commodity terms of trade shocks have continued to drive macroeconomic ‡uctuations in most emerging market economies. The volatility and persistence of these shocks have posed great challenges for monetary policy. This study employs a New Keynesian Dynamic Stochastic General Equilibrium (DSGE) model...
Aug 2012
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Terms of Trade Shocks and Inflation Targeting in Emerging Market Economies

Seedwell Hove, Albert Touna Mama and Fulbert Tchana Tchana
Emerging market economies (EMEs) have persistently experienced different waves of commodity terms of trade disturbances, generating macroeconomic instabilities. The adoption of in‡flation targeting (IT) by many emerging market economies has raised the questions about its relative suitability in...
Mar 2012
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Do Monetary, Fiscal and Financial Institutions Really Matter for Inflation Targeting in Emerging Market Economies?

Seedwell Hove, Albert Touna Mama and Fulbert Tchana Tchana
Most emerging market economies (EMEs) which have implemented inflation targeting (IT) have continued to experience large, frequent and sometimes persistent inflation target misses. At the same time these countries had reformed their institutional structures when implementing IT. In this paper we...
Sep 2011
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Bank concentration and the interest rate pass-through in Sub-Saharan African countries

T. Mangwengwende, Z. Chinzara, and H. Nel
This study investigates the link between bank concentration and interest rate pass-through (IRPT) in four sub-Saharan countries. It also analyses whether there is asymmetry in IRPT and whether such asymmetry is related to changes in bank concentration. By applying a number of econometric methods...
Aug 2011
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Business Cycle and Bank Capital Regulation: Basel II Procyclicality

Guangling (Dave) Liu and Nkhahle E. Seeiso
This paper studies the impacts of bank capital regulation on business cycle fluctuations. To do so, we adopt the Bernanke et al. (1999) "financial accelerator" model (BGG), to which we augment a banking sector to study the procyclical nature of Basel II claimed in the literature. We first study the...
Jun 2011
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