1,988 research outputs found
Review of Peter J. Montiel 'Macroeconomics in Emerging Markets'
Review of Peter J. Montiel 'Macroeconomics in Emerging Markets'Book review, macroeconomics, emerging markets
Tracking of secondary and temporary objects in structural concrete work
Previous research has shown that âScan-vs-BIM â object recognition systems, that fuse 3D point clouds from Terrestrial Laser Scanning (TLS) or digital photogrammetry with 4D project BIM, provide valuable information for tracking structural works. However, until now, the potential of these systems has been demonstrated for tracking progress of permanent structures only; no work has been reported yet on tracking secondary or temporary structures. For structural concrete work, temporary structures include formwork, scaffolding and shoring, while secondary components include rebar. Together, they constitute most of the earned value in concrete work. The impact of tracking such elements would thus be added veracity and detail to earned value calculations, and subsequently better project control and performance. This paper presents three different techniques for recognizing concrete construction secondary and temporary objects in TLS point clouds. Two of the techniques are tested using real-life data collected from a reinforced concrete building construction site. The preliminary experimental results show that it is feasible to recognize secondary and temporary objects in TLS point clouds with good accuracy; but it is envisaged that superior results could be achieved by using additional cues such colour and 3D edge information
Foreign banks and foreign currency lending in emerging Europe
Based on survey data from 193 banks in 20 countries we provide the first bank-level analysis of the relationship between bank ownership, bank funding and foreign currency (FX) lending across emerging Europe. Our results contradict the widespread view that foreign banks have been driving FX lending to retail clients as a result of easier access to foreign wholesale funding. Our cross-sectional analysis shows that foreign banks do lend more in FX to corporate clients but not to households. Moreover, we find no evidence that wholesale funding had a strong causal effect on FX lending for either foreign or domestic banks. Panel estimations show that the foreign acquisition of a domestic bank does lead to faster growth in FX lending to households. However, this is driven by faster growth in household lending in general not by a shift towards FX lending.Foreign banks; FX lending; financial integration; Emerging Europe
Foreign banks in transition countries. To whom do they lend and how are they financed?
We use focused interviews with managers of foreign parent banks and their affiliates in Central Europe and the Baltic States to analyse the small-business lending and internal capital markets of multinational financial institutions. Our approach allows us to complement the standard empirical literature, which has difficulty in analysing important issues such as lending technologies and capital allocation. We find that the acquisition of local banks by foreign banks has not led to a persistent bias in these banksâ credit supply towards large multinational corporations. Instead, increased competition and the improvement of subsidiariesâ lending technologies have led foreign banks to gradually expand into the SME and retail markets. Second, it is demonstrated that local bank affiliates are strongly influenced by the capital allocation and credit steering mechanisms of the parent bank.foreign banks, transition economies, small-business lending, internal capital markets
Foreign Banks in Transition Economies: Small Business Lending and Internal Capital Markets
On the basis of focused interviews with managers of foreign parent banks and their affiliates in Central Europe and the Baltics, we analyse foreign banksâ small business lending and internal capital markets. This allows us to complement the standard empirical literature, which has difficulty in measuring important variables such as lending technologies and capital allocation systems. We find that the acquisition of local banks by foreign banks has not led to a persistent bias in these banksâ credit supply towards large multinational corporations. Instead, increased competition and the improvement of subsidiariesâ lending technologies have led foreign banks to gradually expand into the SME and retail markets. Second, we show that local bank affiliates are strongly influenced by the capital allocation and credit steering mechanisms of the parent bank. The credit growth of subsidiaries therefore potentially depends on the financial health of the foreign based parent bank.foreign banks, transition economies, small business lending, internal capital markets
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