RaboResearch - Economic Research

Country Report

Country Report Dominican Republic

Despite the Dominican Republic’s good economic performance in recent years, it has not been able to improve its weak external position. The latter is reflected by a low level of FX-reserves, a current account deficit and a large external debt stock.

Country Report

Country Report Honduras

Although former president Lobo has taken some positive steps to improve the political landscape, Honduras still faces multiple challenges, among others: reducing its large current account deficit and improving its institutional framework.

Country Report

Country Report Vietnam

Since 2012, Vietnam is slowly building up a track record of economic stability. Meanwhile, the government continues to work on needed reforms, but has not taken away the risks. External liquidity is very weak, but no longer critical.

Country Report

Country Report South Korea

Economic growth has accelerated last year, and is expected to rise to 3.4% this year. In the face of tapering, South Korea is confronted with an uncertain external environment. However, so far the impact has been limited.

Dutch Housing Market Quarterly Dutch version

Stabilisation of the housing market continues

The Dutch housing market stabilised in the last six months of 2013. Sales increased and the price of existing owner-occupied houses remained unchanged. In 2014 we expect a modest increase in sales and a stabilisation of house prices.

Country Report

Country Report Azerbaijan

While the financing deal with Russia alleviates Ukraine’s external financing pressures, the deal is not without risk. The anti-government protests have increased pressure on President Yanukovych’s hold on power. Meanwhile, the domestic currency remains under pressure.

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De magie van vertrouwen (Dutch)

De Nederlandse woningmarkt kende in 2013 opnieuw een moeilijk jaar. Maar in de tweede helft van dat jaar ontwikkelden het aantal verkopen en de prijs van bestaande woningen zich positiever dan wij hadden verwacht.

Country Report

Country Report Ukraine

While the financing deal with Russia alleviates Ukraine’s external financing pressures, the deal is not without risk. The anti-government protests have increased pressure on President Yanukovych’s hold on power. Meanwhile, the domestic currency remains under pressure.

Country Report

Country Report Brazil

Brazil’s current account deficit has increased strongly in 2013, but the large foreign exchange reserves continue to mitigate balance of payments risks. Meanwhile, the central bank has continued its aggressive tightening cycle.

Special

Verhoging van eigen vermogen bij banken (Dutch)

Soms wordt de indruk gewekt dat banken liever doorbankieren ‘op drijfzand’ in plaats van hun balans te versterken. Een geleidelijke verhoging van de kapitalisatie van de banken, waarbij gebruik wordt gemaakt van zowel de leverage-ratio als de BIS-ratio’s, lijkt de beste weg te zijn.

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Waarom (nog steeds) niets zeker is (Dutch)

De financiële markten zijn afgelopen weken weer opgeschrikt door de ‘sell-off’ in opkomende economieën. Voor mij het zoveelste bewijs dat nog niets zeker is in de wereldeconomie. En al helemaal niet als het gaat om groei en inflatie in de eurozone.

Country Report

Country Report Kazakhstan

Kazakhstan had a less fortunate economic year in 2013, as weak exports led to a twin deficit and economic growth, though picking up, was driven by unsustainable consumer borrowing.