In late 2008, economies worldwide underwent close to complete economic paralysis in what has now been established as the worst financial crisis since the Great Depression. In response, economic research focused on understanding how a well-developed financial market such as the U…
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The phenomenal financial expansion of the last decades has been characterised by an exacerbation of systemic instability and an increase in the frequency of financial crises, culminating in the recent meltdown in the US financial sector. The literature on financial crises has de…
This study is an empirical investigation of the transmission of monetary policy in a small open economy with fixed exchange rates. A tow-country structural macroeconomic model has been developed to describe the small economy that explicitly incorporates an interest rate differen…
The 1997-98 Asia financial crisis provides a natural experiment to examine how firms adapt their strategic choices to the changing business environment. In this study, I investigate the evolution of the board and asset structure of the 83 surviving commercial banks in Hong Kong,…
The purpose of this dissertation is to provide insight into an individual family's fertility response to a short term financial shock. As economies develop, the number of children born in a household decreases at both the inter and intra-country level. This paper examines a hous…
The Mexican crisis that took place in 1994 was followed by nearly a decade of frequent and severe financial crises in the emerging economies. These crises episodes that were characterized by dramatic reversals in capital flows and large losses in output are atypical to the more …
The East Asian financial crisis in 1997–1998 had forced the Indonesian banking authority to take actions to mitigate the banking crisis and execute a banking restructuring program. In this dissertation, I discuss issues surrounding the crisis and restructuring events. Chapter 1 …
The main purpose of this dissertation is to identify the prominent channels through which financial decisions are transmitted to real economic activities with three different empirical studies. The first essay examines investment behavior and the effects of financing constraints…