People’s Bank of China and the Global Financial Crisis: Policy Responses and Beyond

2016 ◽  
pp. 183-213
Author(s):  
Miao Han
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Bank Of China ◽  
Policy Responses ◽  
The Global Financial Crisis

HOW CBN CONFRONTED THE MELTDOWN: THE GLOBAL FINANCIAL CRISIS AND THE CENTRAL BANK OF NIGERIA’S RESPONSE

2017 ◽  
Vol 62 (01) ◽  
pp. 147-161
Author(s):  
EMRE OZSOZ ◽  
MUSTAPHA AKINKUNMI ◽  
ISMAIL CAGRI AY ◽  
ADEMOLA BAMIDELE
Keyword(s):  
Monetary Policy ◽  
Financial Crisis ◽  
Central Bank ◽  
Global Financial Crisis ◽  
Large Population ◽  
Reserve Requirement ◽  
Policy Responses ◽  
Positive Growth ◽  
Discount Window ◽  
The Global Financial Crisis

This paper provides an analysis of policy responses to the Global Financial Crisis by the Central Bank of Nigeria (CBN). Given its unique position as a major commodity exporter with a large population, Nigerian authorities utilized a mixture of policies including reductions in the monetary policy rate and capital reserve requirement, lending through the expanded discount window, money market interbank transactions guaranty and limitations on deposit money banks’ (DMBs) foreign exchange net open positions. CBN also rolled over margin loans that were extended to equity investors. As a result the country weathered the financial crisis with limited damage and recorded positive growth rates between 2008 and 2010.

scholarly journals A Decade After the Global Financial Crisis: Lessons and Policy for International Stability

2020 ◽  
Vol 11 (2) ◽  
pp. 416
Author(s):  
Anjali Karol
Keyword(s):  
Financial Crisis ◽  
Economic Integration ◽  
Global Financial Crisis ◽  
Financial Security ◽  
Policy Responses ◽  
The Great Depression ◽  
International Stability ◽  
The Global Financial Crisis ◽  
The Impact ◽  
Global Financial System

The Global Financial Crisis of 2007-09 has been the most severe global shock after the Great Depression of the 1930s. A crisis of this order has changed the outlook on international socio-economic integration and concerns on financial security and global polity. As we are a decade after the crisis, it is instinctively imperative to relook and analyse the lessons learnt and the policy responses that helped ease the crisis. This paper is an attempt in that direction. Research over the years suggests that global financial system has evolved into a more innocuous network at limited unintended costs. Globally policy regulations have tightened to lessen the impact of future crises and today most countries have some form of macro-prudential surveillance.

Evaluating Good and Bad News During Pre and Post Financial Meltdown: Nigerian Stock Market Evidence

2019 ◽  
Vol 64 (3) ◽  
pp. 1-22
Author(s):  
Kamaldeen Ibraheem Nageri
Keyword(s):  
Financial Crisis ◽  
Stock Market ◽  
Global Financial Crisis ◽  
Bad News ◽  
Good News ◽  
Share Price ◽  
Policy Responses ◽  
Negative News ◽  
On Line ◽  
The Global Financial Crisis

Abstract The Nigerian stock market, prior to the 2007-09 global financial crisis witnessed growth but the market encountered sharp reversal from 2007 due to the global financial crisis. This study evaluates good and bad news on the Nigerian stock market with regards to the policy responses as a result of the meltdown. The study used the TGARCH, EGARCH and PGARCH models under three error distributional assumptions for data covering January 2010 to December 2016 using the All Share Index to generate the return series. Findings shows that good news impact return more than negative news of the same magnitude before the meltdown while bad news insignificantly impact return more than positive news after the meltdown. The study concludes that there is information asymmetry in the Nigerian stock market. Thus, it is recommended that on-line real time access to share price movement for investors should be introduced to improve liquidity level and enhance free flow of relevant securities information.

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