Mohamed Belkhir's Books

Bank Capital and the Cost of Equity

By: Mohamed Belkhir,Mr.Sami Ben Naceur,Mr.Ralph Chami,Anis Semet

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Bank Capital and the Cost of Equity

By: Mohamed Belkhir,Mr.Sami Ben Naceur,Mr.Ralph Chami,Anis Semet

Using a sample of publicly listed banks from 62 countries over the 1991-2017 period, we investigate the impact of capital on banks’ cost of equity. Consistent with the theoretical prediction that more equity in the capital mix leads to a fall in firms’ costs of equity, we find that better capitalized banks enjoy lower equity costs. Our baseline estimations indicate that a 1 percentage point increase in a bank’s equity-to-assets ratio lowers its cost of equity by about 18 basis points. Our results also suggest that the form of capital that investors value the most is sheer equity capital; other forms of capital, such as Tier 2 regulatory capital, are less (or not at all) valued by investors. Additionally, our main finding that capital has a negative effect on banks’ cost of equity holds in both developed and developing countries. The results of this paper provide the missing evidence in the debate on the effects of higher capital requirements on banks’ funding costs.

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International Monetary Fund

Published Date

ISBN 10

1513519808

ISBN 13

9781513519807

Macroprudential Policy and Bank Systemic Risk: Does Inflation Targeting Matter?

By: Mohamed Belkhir,Sami Ben Naceur,Bertrand Candelon,Woon Gyu Choi,Farah Mugrabi

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Macroprudential Policy and Bank Systemic Risk: Does Inflation Targeting Matter?

By: Mohamed Belkhir,Sami Ben Naceur,Bertrand Candelon,Woon Gyu Choi,Farah Mugrabi

This paper investigates macroprudential policy effects on bank systemic risk and the role of inflation targeting in such effects. Using bank-level data for 45 countries comprising various monetary and exchange rate regimes, our regime-dependent dynamic panel regression results point to complementarities between monetary and macroprudential policies. We find that the tightening of most macroprudential tools—including DSTI and LTV limits, and capital requirements—reduces bank systemic risk further under inflation targeting. Our findings lend credence to the view that inflation targeting strengthens macroprudential policy roles in mitigating financial stability risks.

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International Monetary Fund

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ISBN 13

9798400245008

Macroprudential Policies, Economic Growth, and Banking Crises

By: Mohamed Belkhir,Mr.Sami Ben Naceur,Bertrand Candelon,Jean-Charles Wijnandts

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Macroprudential Policies, Economic Growth, and Banking Crises

By: Mohamed Belkhir,Mr.Sami Ben Naceur,Bertrand Candelon,Jean-Charles Wijnandts

Using a sample that covers more than 100 countries over the 2000-2017 period, we assess the impact of macroprudential policies on financial stability. In particular, we examine whether the activation of macroprudential policies is conducive to a lower incidence of systemic banking crises. Our empirical setup is designed to account for the potential direct and indirect effects that macroprudential policies can have on banking crises. We find that while macro-prudential policies exert a direct stabilizing effect, they also have an indirect destabilizing effect, which works through the depressing of economic growth. A Generalized Impulse Response Function analysis of a dynamic system composed of the probability of a banking crisis and economic growth reveals, however, that macroprudential policies have a positive net effect on financial stability (lower likelihood of systemic banking crises).

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International Monetary Fund

Published Date

ISBN 10

1513536982

ISBN 13

9781513536989

Corporate Vulnerabilities in the Middle East, North Africa, and Pakistan in the Wake of COVID-19 Pandemic

By: Nordine Abidi,Mohamed Belkhir

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Corporate Vulnerabilities in the Middle East, North Africa, and Pakistan in the Wake of COVID-19 Pandemic

By: Nordine Abidi,Mohamed Belkhir

This paper analyzes corporate vulnerabilities in the Middle East, North Africa and Pakistan (MENAP hereafter) in the wake of the COVID-19 pandemic shock. Using a sample of nearly 700 firms from eleven countries in MENAP, we assess the non-financial corporate (NFC) sector’s liquidity and solvency risk and viability over the medium term under different stress test scenarios. Our findings suggest that the health crisis has exacerbated vulnerabilities in the corporate sector, though the effects are heterogenous across the region. Small firms, which entered the pandemic in a more vulnerable position, would remain under high liquidity stress over the medium term, putting a substantial share of these firms’ debt at risk of default. Similarly, liquidity needs of firms in contact-intensive sectors have also worsened and would remain elevated in 2022-23. We also show that an adverse scenario of subdued growth and premature withdrawal of policy support would impair the capacity to service interest expenses, especially among small firms, resulting in higher insolvency risk. Overall, our results indicate that some segments of the MENAP corporate sector could remain reliant on policy support during the recovery phase and that structural reforms are critical to save distressed but viable firms from bankruptcy and ensure an efficient liquidation of “zombie” firms.

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International Monetary Fund

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ISBN 13

9798400204982

Fishes in Lagoons and Estuaries in the Mediterranean 3A

Migratory Fish

By: Mohamed Hichem Kara,Jean-Pierre Quignard

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Fishes in Lagoons and Estuaries in the Mediterranean 3A

Migratory Fish

By: Mohamed Hichem Kara,Jean-Pierre Quignard

Based on the most recent scientific data, and without neglecting historical publications, Fishes in Lagoons and Estuaries in the Mediterranean 3 comprehensively details Mediterranean lagoonal–marine migratory fish. It provides information regarding their systematics, eobiology, ethology, genetics and their exploitation. After a general categorization of the species represented, this volume, third in a set of books on Mediterranean ichthyofauna, offers a synthesis of the knowledge acquired from 1890 to the present day for each of the 21 species most frequently found in Mediterranean lagoons and estuaries. These species are detailed across the two parts of volume 3. The scientific data presented in this book concern the species’ lagoon life as much as their marine life, and are therefore of particular interest for both the management of fish stocks and for the conservation of species. Designed to give rapid and comprehensive access to the body of knowledge on Mediterranean lagoonal and estuarine migratory fishes, this volume is for anyone involved in the use, management or protection of natural environments and their populations, including ecobiologists, geographers, engineers, teachers, students and researchers.

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250

Publisher

John Wiley & Sons

Published Date

ISBN 10

1119597382

ISBN 13

9781119597384

Sustainable Utilization of Carbon Dioxide in Waste Management

Moving Toward Reducing Environmental Impact

By: Abdel-Mohsen O. Mohamed,Maisa El-Gamal,Suhaib Hameedi

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Sustainable Utilization of Carbon Dioxide in Waste Management

Moving Toward Reducing Environmental Impact

By: Abdel-Mohsen O. Mohamed,Maisa El-Gamal,Suhaib Hameedi

Sustainable Utilization of Carbon Dioxide in Waste Management addresses all aspects of sustainable use of carbon dioxide in waste management processes and provides best practices and process improvements for carbon sequestration in the management of a variety of waste types, including carbide lime waste, construction waste, and reject brine effluents, amongst others. The book also provides underlying research on the environmental impacts of these wastes and the need for carbon capture to emphasize the importance and need for improvements of these processes. Overall, this information will be key to determining lifecycle benefits of CO2 for each newly improved waste process. This is an important source of information for environmental and sustainability scientists and engineers, as well as academics and researchers in the field who should be trying to achieve increased carbon capture in any form of waste process to reduce environmental impact. - Introduces the basic principles of carbon sequestration by alkaline solid waste (cement kiln dust, steel slag, fly ash, and carbide lime wastes), detailing the lack of current sustainability - Provides a comprehensive resource on carbon sequestration in a variety of waste processes and practical guidance on applying them to these processes - Details the need for carbon capture in these processes and the environmental impacts of not doing so - Outlines the methods for determining lifecycle benefits of CO2 for each newly developed product

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Page Count

608

Publisher

Elsevier

Published Date

ISBN 10

012823606X

ISBN 13

9780128236062

Corporate Vulnerabilities in the Middle East, North Africa, and Pakistan in the Wake of COVID-19 Pandemic

By: Nordine Abidi,Mohamed Belkhir

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Corporate Vulnerabilities in the Middle East, North Africa, and Pakistan in the Wake of COVID-19 Pandemic

By: Nordine Abidi,Mohamed Belkhir

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Publisher

International Monetary Fund

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ISBN 13

9798400204982

Book's by Mohamed Belkhir

Bank Capital and the Cost of Equity

Bank Capital and the Cost of Equity

Macroprudential Policy and Bank Systemic Risk: Does Inflation Targeting Matter?

Macroprudential Policy and Bank Systemic Risk: Does Inflation Targeting Matter?

Macroprudential Policies, Economic Growth, and Banking Crises

Macroprudential Policies, Economic Growth, and Banking Crises

Corporate Vulnerabilities in the Middle East, North Africa, and Pakistan in the Wake of COVID-19 Pandemic

Corporate Vulnerabilities in the Middle East, North Africa, and Pakistan in the Wake of COVID-19 Pandemic

Fishes in Lagoons and Estuaries in the Mediterranean 3A

Fishes in Lagoons and Estuaries in the Mediterranean 3A

Sustainable Utilization of Carbon Dioxide in Waste Management

Sustainable Utilization of Carbon Dioxide in Waste Management

Corporate Vulnerabilities in the Middle East, North Africa, and Pakistan in the Wake of COVID-19 Pandemic

Corporate Vulnerabilities in the Middle East, North Africa, and Pakistan in the Wake of COVID-19 Pandemic

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