WorldCat Identities

Powell, Andrew (Andrew Philip)

Overview
Works: 51 works in 149 publications in 2 languages and 945 library holdings
Genres: Case studies 
Roles: Author, Editor, Instrumentalist, Composer
Publication Timeline
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Most widely held works by Andrew Powell
A capital accord for emerging economies? by Andrew Powell( )

9 editions published between 2001 and 2013 in English and Undetermined and held by 126 WorldCat member libraries worldwide

The Basel 1988 Capital Accord is arguably the most successful of all recent financial "standards." Although it was designed for internationally active banks in G10 countries, more than 100 countries claim to adhere to it, and many apply the Accord to all banks. Significant changes to this Accord are currently under discussion. The author reviews the current proposals (published in January 2001) from the standpoint of an emerging market. He then addresses how implementation in G10 countries will affect the cost of capital to emerging economies. The new proposals make considerable advances in linking risk and regulatory capital for internationally active banks, especially for their corporate loan book. But the corporate-calibrated internal ratings-based (IRB) approach leads to significant changes in capital requirements and spreads for banks that lend to emerging countries. The author proposes that for sovereign lending, banks should develop internal ratings according to an S&P or Moody's scale, and capital charges be levied at the corresponding weights given by the standardized approach. The author argues that the more detailed and specific the proposals are for G10 internationally active banks, the less relevant the proposals will be for non-G10 countries that wish to implement the new Accord for all banks. Indeed, many emerging countries will implement the 'standardized' approach, in which case, given the limited universe of rated risks, little will change. Alternatively, emerging countries will attempt to implement an IRB approach, but with significant problems implementing and calibrating the parameters-or inappropriate use of G10 calibrations. At the same time, banks in emerging economies remain the most important vehicle for financial intermediation and the appropriate regulation of bank capital one of the most important issues for financial sectors. The author suggests that additional alternatives should be included or, failing that, the time may have come specifically for an Accord for emerging economies
Can emerging market bank regulators establish credible discipline? : the case of Argentina by Charles W Calomiris( Book )

18 editions published between 1996 and 2000 in English and Spanish and held by 123 WorldCat member libraries worldwide

In the early 1990s, after decades of high inflation and financial repression, Argentina embarked on a course of macroeconomic and bank regulatory reform. Bank regulatory policy promoted privatization, financial liberalization, and free entry, limited safety net support, and established a novel mix of regulatory and market discipline to ensure stable growth of the banking system during the liberalization process. Argentina suffered some fallout from the Mexican tequila crisis of 1995, but its response to that crisis (allowing weak banks to close) and the redoubling of regulatory efforts to promote market discipline after the crisis made Argentina's banking system quite resilient during the Asian, Russian, and Brazilian crises. Argentina's bank regulatory system now is widely regarded as one of the two or three most successful among emerging market economies. This paper traces the evolution of the regulatory policy changes of the 1990s and shows that the reliance on market discipline has played an important role in prudential regulation by encouraging proper risk management by banks. There is substantial heterogeneity among banks in the interest rates they pay for debt and the rate of growth of their deposits, and that heterogeneity is traceable to fundamental attributes of banks that affect the riskiness of deposits (i.e. asset risk and leverage). Moreover, market perceptions of default risk are mean-reverting, indicating that market discipline encourages banks to respond to increases in default risk by limiting asset risk or lowering leverage
Volatility and financial intermediation by Joshua Aizenman( Book )

12 editions published in 1997 in English and held by 111 WorldCat member libraries worldwide

Following the Tequila period, its after-effects in Latin America and recent events in South East Asia, the effect of volatility on emerging market economies has become an important topic of research with the domestic financial intermediation process being advanced as one of the most important transmission mechanisms. At the same time there has been continued interest in issues related to imperfect information and rationing in credit markets. In this paper, we consider an economy where risk neutral banks provide intermediation services and risk neutral producers demand credit to finance their working capital needs. Our model blends costly state verification with imperfect enforcement power and, in this context of costly financial intermediation, we show that a weak legal system combined with high information verification costs leads to large, first-order effects of volatility on production, employment and welfare. A calibration illustrates that the semi-elasticity of welfare with respect to volatility is less than -1 for reasonable parameter values (i.e., a one percent increase in the coefficient of variation of productivity shocks would reduce welfare by more than one percent). We suggest that legal and information problems in the credit market may then be at the heart of the reason why volatility has profound effects on emerging market economies
The economics of natural resources in Latin America : taxation and regulation of the extractive industries by Osmel Manzano( )

7 editions published between 2017 and 2018 in English and held by 104 WorldCat member libraries worldwide

The taxation of non-renewable resources in Latin America : introduction and overview -- The effects of commodity taxation on sector performance -- Towards efficient taxation of minerals : the case of copper in Chile -- Two sectors, two approaches : resource taxation in Peru -- Not all fields are created equal : the challenge of oil taxation in Venezuela -- Regulation and state intervention in non-renewable natural resources : the cases of the oil and gas sectors in Argentina -- Oil sector performance and institutions in Latin America -- Transparency matters -- Index
Banking on foreigners : the behavior of international bank lending to Latin America, 1985-2000 by Maria Soledad Martinez Peria( )

8 editions published in 2002 in English and Undetermined and held by 69 WorldCat member libraries worldwide

Rising international bank financing to developing countries has fueled a debate on the behavior of these claims. The authors analyze claims from seven home (lender) countries on ten host (borrower) countries in Latin America. They find that banks transmit shocks from their home countries and changes in their claims on other countries spill over to individual hosts. However, lending has become less "indiscriminate" and more responsive to host conditions over time. Responsiveness to the latter becomes less "pro-cyclical" as exposure increases. Finally, foreign bank lending reacts more to positive than to negative host shocks and is not significantly curtailed during crises. This paper--a product of Finance, Development Research Group--is part of a larger effort in the group to study foreign bank lending
Bank capital and loan loss reserves under Basel II : implications for emerging countries by Giovanni Majnoni( )

6 editions published in 2004 in English and held by 68 WorldCat member libraries worldwide

"Majnoni, Miller, and Powell propose an integrated approach to minimum bank capital and loan loss reserves regulation. They break new ground in two main areas. First, the authors provide an explicit measurement of the credit loss distribution for a sample of emerging countries providing a benchmark for discussing the appropriate calibration of new regulatory capital and loan loss provision requirements for non-G10 countries. Second, on normative grounds, they propose a simplified version of the "internal rating based" (IRB) approach as a transition tool that, while retaining a risk-based definition of solvency ratios, implies reduced supervisory monitoring costs and could therefore be of interest to emerging countries where supervisory resources are particularly scarce. This paper--a product of the Finance Cluster Sector Unit, Latin America and the Caribbean Region--is part of a larger effort in the region to analyze the effects of bank capital regulation"--World Bank web site
Prudential responses to de facto dollarization by Alain Ize( )

2 editions published in 2004 in English and held by 59 WorldCat member libraries worldwide

We develop a theoretical framework that encompasses four distinct motives for dollarization and discuss appropriate policy responses to help contain dollarization and its attendant risks. "Moral hazard" dollarization provides a clear case for prudential policy activism. However, prudential reform will have only a limited impact on dollarization when the main culprits are fear of floating and lack of monetary credibility. In such cases, a concerted and comprehensive reform agenda, including market-oriented and institutional reforms, would be needed to shift the balance of risks in favor of the domestic currency. While quantitative limits on dollarization could also be used to speed up de-dollarization, risks could be high
Bank capital and loan loss reserves under Basel II implications for emerging countries by Giovanni Majnoni( )

3 editions published between 2004 and 2013 in English and Undetermined and held by 58 WorldCat member libraries worldwide

"Majnoni, Miller, and Powell propose an integrated approach to minimum bank capital and loan loss reserves regulation. They break new ground in two main areas. First, the authors provide an explicit measurement of the credit loss distribution for a sample of emerging countries providing a benchmark for discussing the appropriate calibration of new regulatory capital and loan loss provision requirements for non-G10 countries. Second, on normative grounds, they propose a simplified version of the "internal rating based" (IRB) approach as a transition tool that, while retaining a risk-based definition of solvency ratios, implies reduced supervisory monitoring costs and could therefore be of interest to emerging countries where supervisory resources are particularly scarce. This paper--a product of the Finance Cluster Sector Unit, Latin America and the Caribbean Region--is part of a larger effort in the region to analyze the effects of bank capital regulation"--World Bank web site
Banking on foreigners the behavior of international bank lending to Latin America, 1985-2000 by Andrew Powell( )

2 editions published in 2002 in Undetermined and English and held by 55 WorldCat member libraries worldwide

Cartels, contracts and centralization: the transition to futures trading for primary commodities by Jonathan Haskel( Book )

10 editions published between 1994 and 1995 in English and Undetermined and held by 27 WorldCat member libraries worldwide

Commodity-indexed debt in international lending by Timothy Besley( Book )

2 editions published in 1989 in English and held by 21 WorldCat member libraries worldwide

Initially commodity -contingent debt contracts appear to work best when a group of creditors have control over the total amount lent, rather than when a single lender acts in isolation. Should a multinational institution take the lead in developing a market for them?
Securitization and commodity contingency in international lending by Ronald W Anderson( Book )

5 editions published in 1989 in English and held by 12 WorldCat member libraries worldwide

Securitization of LDC debt would significantly aid the international debt problem by increasing liquidity and expanding the range of investors. Securitization is problematic, however, in large part due to sovereign risks involved. At present sovereign risks, commodity price risks and currency risks remain unbundled in general obligation loan contracts. Using a game theoretic model we illustrate the need to separate sovereign risks from other risks and associate the sovereign default with a third party guarantee, whose fair-value premium can be calculated. We argue that issuing commodity price contingent assets may provide the best means of securitizing LDC obligations
Capital requirements for Latin American banks in relation to their market risks : the relevance fo the Basle 1996 Amendment to Latin America by Andrew Powell( Book )

4 editions published in 1997 in English and held by 11 WorldCat member libraries worldwide

Banks' market or "trading" risks have increased noticeably over the past years, largely as a result of the growth of liquid assets on banks' balance sheets and the increase in banks' off-balance sheet activities. Well-publicized bank failures and significant capital losses have focussed further attention on these developments. In January 1996, the Basle Committee recommended the imposition of capital charges related to banks' trading risks, and the European Community's Capital Adequacy Directive (CAD) came into force on January 1st, adopting, in part, the Basle Amendment. The G10 countries are committed to full implementation of these recommendations by the end of 1997. This paper reviews the main features of the Basle Amendment, which allows banks a choice between a "standardized methodology" and the use of their own internal models, subject to the authorization of the relevant supervisor and a set of parameter values. The relevance of this regulation for Latin America is analysed in the light of the region`s characteristics. We suggest that these characteristics increase rather than diminish the importance of the implementation of market risk capital requirements in Latin America
On restructuring, regulation, and competition in utility industries : experience in the United Kingdom and implications for Latin America by Andrew Powell( Book )

3 editions published in 1996 in English and held by 9 WorldCat member libraries worldwide

Facing oil uncertainty in Venezuela : an optimal spending rule with liquidity constraints and adjustment costs by Ricardo Hausmann( Book )

2 editions published in 1992 in English and held by 9 WorldCat member libraries worldwide

Electricity contracting : pool prices and contracts for differences by Andrew Powell( Book )

2 editions published in 1991 in English and held by 8 WorldCat member libraries worldwide

The world of forking paths : Latin America and the Caribbean facing global economic risks( )

3 editions published in 2012 in English and held by 7 WorldCat member libraries worldwide

"To capture how alternative paths for the main participants in the world economy impact Latin America and the Caribbean, this report describes the maze of connections between the Region and the rest of the world, and provides an analysis of the most relevant topics within this labyrinth of connections. Our aim is to consider how Latin America and the Caribbean may fare under different paths taken by the world economy. On the whole, we are optimistic about the Region's prospects. And while we hope for the best, the Region should plan for the worst. In the pages that follow, the Region's resilience and potential reaction to possible shocks is assessed; on this basis, recommendations are proposed."--Page vii
The second wave of global liquidity : why are firms acting like financial intermediaries? by Julián Caballero( Book )

3 editions published in 2015 in English and held by 6 WorldCat member libraries worldwide

Recent work suggests that non-financial firms have acted like financial intermediaries particularly in emerging economies. We corroborate these findings but then ask why? Our results indicate evidence for carry-trade activities but focused in countries with higher levels of capital controls, particular controls on inflows. We find little evidence for such activities given other potential motives. We posit that this phenomenon is due more to the reaction to low global interest rates and strong capital inflows than to incomplete markets or the retreat of global banks due to impaired balance-sheets or tighter regulations
The evaluation of commodity options and the management of commodity related risks for developing countries by Andrew Powell( )

5 editions published between 1989 and 1990 in English and held by 6 WorldCat member libraries worldwide

Commodity and developing country terms of trade, what does the long run show? by Andrew Powell( Book )

2 editions published in 1989 in English and held by 6 WorldCat member libraries worldwide

 
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Alternative Names
Andrew Powell

Andy Powell anglický kytarista a skladatel

Andy Powell britischer Rockmusiker

Andy Powell Brits singer-songwriter

Andy Powell chitarrista e cantante britannico

Andy Powell musicien britannique

Andy Powell músico británico

Andy Powell (muzyk)

Powell, Andrew Philip

Powell Andy 1950-....

Энди Пауэлл

أندي باول موسيقي بريطاني

اندی پاول خواننده-ترانه‌سرا و گیتاریست بریتانیایی

Languages
English (102)

Spanish (1)