کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
968278 931484 2006 15 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Financial sector reforms and stochastic policy simulations: A flow of funds model for India
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Financial sector reforms and stochastic policy simulations: A flow of funds model for India
چکیده انگلیسی
We apply stochastic simulation methods to a system-wide flow of funds model for India for 1951-1994. We address two issues; first, the impact of financial reforms on interest rates and loanable funds, and second, the robustness of policy where there is uncertainty about the true model. We find considerable variation in policy risk depending on the policy instrument and the policy regime. Interest rate risks are greater in the controlled regime; quantity risks are greater in the decontrolled regime. Outcomes also depend on controls on intermediaries: more heavily controlled banks respond differently from other less heavily controlled financial intermediaries.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Policy Modeling - Volume 28, Issue 3, April 2006, Pages 319-333
نویسندگان
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