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Author: Itthipong Mahathanaseth Publisher: ISBN: Category : Languages : en Pages : 150
Book Description
This dissertation consists of three essays. The first essay examines the cost efficiency and production technology in the banking sector of Thailand using a stochastic frontier approach. The empirical results indicate that banks with lower Non-performing-loanto-total-loan ratio, higher equity-to-total-asset ratio, higher liquid-asset-to-total-asset ratio, and more branches are likely to be more efficient. The second essay investigates the degree of competition in the banking industry using the new empirical industrial organization approach. The empirical results indicate that, despite the Thailand government's efforts to increase competition in the banking industry by relaxing restrictions on entry to the market after the financial crisis, the oligopolistic degree of the biggest four banks has intensified. The third essay links the results of the first and second essays, cost efficiency and competition in the banking sector, to the transmission mechanism of monetary policy in Thailand using Vector Autoregression approach. The empirical results indicate that an unexpected tightening monetary policy shock leads to higher financial costs in the banking industry, forcing banks to compete more fiercely and operate more efficiently, significantly helping strengthen the transmission of monetary policy. Hence, the policy implication is that Thai government should exert more effort to enhance efficiency and competition in the banking sector.
Author: Itthipong Mahathanaseth Publisher: ISBN: Category : Languages : en Pages : 150
Book Description
This dissertation consists of three essays. The first essay examines the cost efficiency and production technology in the banking sector of Thailand using a stochastic frontier approach. The empirical results indicate that banks with lower Non-performing-loanto-total-loan ratio, higher equity-to-total-asset ratio, higher liquid-asset-to-total-asset ratio, and more branches are likely to be more efficient. The second essay investigates the degree of competition in the banking industry using the new empirical industrial organization approach. The empirical results indicate that, despite the Thailand government's efforts to increase competition in the banking industry by relaxing restrictions on entry to the market after the financial crisis, the oligopolistic degree of the biggest four banks has intensified. The third essay links the results of the first and second essays, cost efficiency and competition in the banking sector, to the transmission mechanism of monetary policy in Thailand using Vector Autoregression approach. The empirical results indicate that an unexpected tightening monetary policy shock leads to higher financial costs in the banking industry, forcing banks to compete more fiercely and operate more efficiently, significantly helping strengthen the transmission of monetary policy. Hence, the policy implication is that Thai government should exert more effort to enhance efficiency and competition in the banking sector.
Author: Jong Hun Kim Publisher: ISBN: Category : Corporations Languages : en Pages : 136
Book Description
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 among Korean manufacturing firms before and after the 1997 financial crisis using a firm-level panel data. The results indicate that investment depends on both sales and the level of cash balances. Firms' financing constraints, as measured by their cash balances, turn out to be binding in financially "weaker" groups such as younger firms and those with lower dividend payouts. The second essay identifies the role of non-monetary factors using a methodology similar to Bernanke's (1983) study of the Great Depression in the United States. We find that increases in the spread between market interest rates and government bond yields, which is a measure of the cost of credit intermediation, whether caused by shifts in business risk or lowered expectations for the Korean economy among international investors, explain the decline in output more fully than frameworks relying only on a fall in the real stock of money. The results, obtained from structural regression equations, unrestricted vector autoregressive systems, and the accompanying dynamic forecasts, suggest that the causes of the crisis lie in factors far deeper than shifts in precautionary and speculative demands for the won. We also find that the credit crunch following the crisis affected light industry more emphatically than heavy industry. The third essay examines the impact of financial factors on economic growth in several East Asian countries using macroeconomic panel data and various estimation techniques. The dynamic panel vector autoregressive analysis shows that growth in these countries was to some extent "finance-led." We do not find that the relationship between finance and growth differs between the four countries that experienced crises (Indonesia, Korea, Malaysia and Thailand) and the other countries that did not. The results suggest that we may not be able to blame the financial sector solely as the main trigger of the economic crisis. While these essays focus on the 1997 East Asian crisis, and may give more attention on the Korean episode, we believe that they shed light on financial and economic developments more generally since the crisis could happen to any country, especially when they are on a path to having more developed and internationally open economies.
Author: Robert M. Townsend Publisher: MIT Press ISBN: 0262314169 Category : Business & Economics Languages : en Pages : 163
Book Description
Lessons learned in the process of designing and implementing one of the longest-running panel data surveys in development economics. Running since 1997 and continuing today, the Townsend Thai Project has tracked millions of observations about the economic activities of households and institutions in rural and urban Thailand. The project represents one of the most extensive datasets in the developing world. Chronicles from the Field offers an account of the design and implementation of this unique panel data survey. It tells the story not only of the origins and operations of the project but also of the challenges and rewards that come from a search to understand the process of a country's economic development. The book explains the technical details of data collection and survey instruments but emphasizes the human side of the project, describing the culture shock felt by city-dwelling survey enumerators in rural villages, the “surprising, eye-opening, and inspiring” responses to survey questions, and the never-ending resourcefulness of the survey team. The text is supplemented by an epilogue on research findings and policy recommendations and an appendix that contains a list and abstracts of published and working papers, organized by topic, using data from the project. Social and economic policies are too often skewed by political considerations. The Townsend Thai Project offers another basis for policy: accurate measurement based on thoroughly collected data. From this, a clear template emerges for understanding poverty and alleviating it.
Author: Prathīp Sonthisuwan Publisher: ISBN: Category : Finance Languages : en Pages : 342
Book Description
Monograph of essays compiled in honour of khunying suparb yossundara, on the economy, trade and economic development in Thailand - covers banks, monetary policy, money supply, inflation, price policy, rice exports, national planning, regional planning, urban development, import substitution and industrial development, income distribution, etc., and includes a biographical note on the eminent Thai economist. Map, references and statistical tables. Biography yossundara sk. Festschrift yossundara sk.
Author: Itthipong Mahathanaseth
Author: Itthipong Mahathanaseth
Author: Sahminan
Author: Sungkyu Kwak
Author: Junghee Park
Author: Mohamed Hassan
Author: Ling Huang
Author: Jong Hun Kim
Author: Robert M. Townsend
Author: Qi Li
Author: Prathīp Sonthisuwan