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Digital Transformation of Capital Market Infrastructure
[Цифровая Трансформация Инфраструктуры Рынка Капитала]

Author

Listed:
  • Mikhail E. MAMONOV, Anna A. PESTOVA, Vera PANKOVA, Renat Akhmetov

    (The Russian Presidential Academy of National Economy and Public Administration)

Abstract

This paper provides a joint analysis of business and credit cycles with a focus on unobservable factors affecting both cycles, at the cross-country level. Using quarterly data for 19 developed countries and Russia for the period from 1994 to 2018, we build a system of two dynamic probit models, which includes a cross-correlation between the errors of the equations governing the probability of a recession and the probability of credit crisis.

Suggested Citation

  • Mikhail E. MAMONOV, Anna A. PESTOVA, Vera PANKOVA, Renat Akhmetov, 2020. "Digital Transformation of Capital Market Infrastructure [Цифровая Трансформация Инфраструктуры Рынка Капитала]," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 5, pages 130-159, November.
    • Handle: RePEc:rnp:ecopol:s2056
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    References listed on IDEAS

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