Iikka Korhonen

Bank of Finland - Institute for Economies in Transition (BOFIT)

Head of BOFIT

P.O.Box 160

Helsinki 00101

Finland

  • Bank of Finland - Institute for Economies in Transition (BOFIT)

SCHOLARLY PAPERS

38

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73

Scholarly Papers (38)

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1.

The Impact of the Global Financial Crisis on Business Cycles in Asian Emerging Economies

CESifo Working Paper Series No. 2710, BOFIT Discussion Paper No. 11/2009
Number of pages: 29 Posted: 22 Jul 2009
Jarko Fidrmuc and Iikka Korhonen
Zeppelin University Friedrichshafen and Bank of Finland - Institute for Economies in Transition (BOFIT)
Downloads 752 (56,843)
Citation 5

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financial crisis, business cycles, decoupling, trade, dynamic correlation

2.

Does Diversification Increase or Decrease Bank Risk and Performance? Evidence on Diversification and the Risk-Return Tradeoff in Banking

BOFIT Discussion Paper No. 9/2010
Number of pages: 56 Posted: 02 Aug 2010
Allen N. Berger, Iftekhar Hasan, Iikka Korhonen and Mingming Zhou
University of South Carolina - Darla Moore School of Business, Fordham University, Bank of Finland - Institute for Economies in Transition (BOFIT) and University of Colorado, Colorado Springs - College of Business
Downloads 590 (77,673)
Citation 9

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banks, diversification, focus, Russia, foreign ownership, scope economies

3.

The Transition of China to Sustainable Growth – Implications for the Global Economy and the Euro Area

ECB Occasional Paper No. 206
Number of pages: 66 Posted: 31 Jan 2018
Alistair Dieppe, Robert Gilhooly, Jenny Han, Iikka Korhonen and David Lodge
European Central Bank (ECB), Bank of England, Bank of England, Bank of Finland - Institute for Economies in Transition (BOFIT) and European Central Bank (ECB)
Downloads 484 (99,485)
Citation 2

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economic growth, rebalancing, China, imbalances, spillovers

4.

Like China, the Chinese Banking Sector is in a Class of Its Own

BOFIT Discussion Paper No. 32/2011
Number of pages: 37 Posted: 16 Dec 2011 Last Revised: 17 Jun 2014
Zuzana Fungáčová and Iikka Korhonen
Bank of Finland - Institute for Economies in Transition (BOFIT) and Bank of Finland - Institute for Economies in Transition (BOFIT)
Downloads 330 (153,301)
Citation 1

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China, banking sector, state banks

5.

Causes of Corruption in Russia: A Disaggregated Analysis

Journal of Economics and Finance, No. August, 2014, BOFIT Discussion Paper No. 31/2011
Number of pages: 28 Posted: 16 Dec 2011 Last Revised: 12 Feb 2016
Veronika Belousova, Rajeev K. Goel and Iikka Korhonen
affiliation not provided to SSRN, Illinois State University - Department of Economics and Bank of Finland - Institute for Economies in Transition (BOFIT)
Downloads 310 (163,815)
Citation 2

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corruption perceptions, corruption incidence, Russia, government, competition

6.

Equilibrium Exchange Rates in Oil-Dependent Countries

BOFIT Discussion Paper No. 8/2007
Number of pages: 23 Posted: 19 Jul 2007
Iikka Korhonen and Tuuli Juurikkala
Bank of Finland - Institute for Economies in Transition (BOFIT) and Bank of Finland
Downloads 288 (177,085)
Citation 13

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equilibrium exchange rate, pooled mean group estimator, resource dependency

7.

Does Democracy Cure a Resource Curse?

Downloads 287 (177,759)

Does Democracy Cure a Resource Curse?

BOFIT Discussion Paper No. 18/2004
Number of pages: 38 Posted: 19 Sep 2007
Iikka Korhonen
Bank of Finland - Institute for Economies in Transition (BOFIT)
Downloads 173 (286,717)
Citation 7

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economic growth, resource curse, cross-country regression, development, governance, institutions

Does Democracy Cure a Resource Curse?

BOFIT Discussion Paper No. 18/2004
Number of pages: 38 Posted: 10 Jun 2016 Last Revised: 18 Nov 2021
Iikka Korhonen
Bank of Finland - Institute for Economies in Transition (BOFIT)
Downloads 114 (400,573)

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8.

The Geographic Distribution of International Currencies and RMB Internationalization

BOFIT Discussion Paper No. 20/2015
Number of pages: 33 Posted: 18 Mar 2016 Last Revised: 18 Nov 2021
Iikka Korhonen, Junjie Guo and Fangge Liu
Bank of Finland - Institute for Economies in Transition (BOFIT), Renmin University of China and Renmin University of China
Downloads 284 (179,658)
Citation 1

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currency internationalization, distribution of currencies, gravity model

9.

Similarity of Supply and Demand Shocks Between the Euro Area and the CEECs

BOFIT Discussion Paper No. 14/2001
Number of pages: 46 Posted: 19 Feb 2003
Iikka Korhonen and Jarko Fidrmuc
Bank of Finland - Institute for Economies in Transition (BOFIT) and Zeppelin University Friedrichshafen
Downloads 277 (184,315)
Citation 10

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optimum currency area, EMU, EU enlargement, structural VAR

10.

The Rise of China and Its Implications for Emerging Markets - Evidence from a GVAR Model

Pacific Economic Review, 19: 1 (2014), pp. 61–89 as The rise of China and its implications for the global economy: Evidence from a global vector autoregressive model, BOFIT Discussion Paper No. 20/2012
Number of pages: 39 Posted: 24 Sep 2012 Last Revised: 12 May 2015
Martin Feldkircher and Iikka Korhonen
Vienna School of International Studies and Bank of Finland - Institute for Economies in Transition (BOFIT)
Downloads 221 (229,953)
Citation 7

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China, macroeconomic shocks, foreign shock, GVAR, great recession

11.

China in the World Economy: Dynamic Correlation Analysis of Business Cycles

BOFIT Discussion Paper No. 7/2008
Number of pages: 24 Posted: 17 Jun 2008
Jarko Fidrmuc, Iikka Korhonen and Ivana Bátorová
Zeppelin University Friedrichshafen, Bank of Finland - Institute for Economies in Transition (BOFIT) and affiliation not provided to SSRN
Downloads 210 (241,060)
Citation 5

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business cycles, synchronization, trade, FDI, dynamic correlation

12.

Trade Linkages and Macroeconomic Effects of the Price of Oil

BOFIT Discussion Paper No. 16/2008
Number of pages: 40 Posted: 20 Nov 2008
Iikka Korhonen and Svetlana Ledyaeva
Bank of Finland - Institute for Economies in Transition (BOFIT) and University of Joensuu - Department of Economics and Business
Downloads 207 (244,335)
Citation 8

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oil, macroeconomic fluctuations, trade linkages, Russia

13.

Real Exchange Rate, Output and Oil: Case of Four Large Energy Producers

BOFIT Discussion Paper No. 6/2009
Number of pages: 36 Posted: 01 Jul 2009
Iikka Korhonen and Aaron N. Mehrotra
Bank of Finland - Institute for Economies in Transition (BOFIT) and Bank for International Settlements (BIS)
Downloads 203 (248,755)
Citation 11

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structural VAR model, oil price, Iran, Kazakhstan, Russia, Venezuela

14.

What Determines Stock Market Behavior in Russia and Other Emerging Countries?

Downloads 187 (267,939)

What Determines Stock Market Behavior in Russia and Other Emerging Countries?

BOFIT Discussion Paper No. 4/2013
Number of pages: 27 Posted: 18 Mar 2016 Last Revised: 18 Nov 2021
Iikka Korhonen and Anatoly Peresetsky
Bank of Finland - Institute for Economies in Transition (BOFIT) and National Research University Higher School of Economics (Moscow)
Downloads 94 (459,216)

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What Determines Stock Market Behavior in Russia and Other Emerging Countries?

BOFIT Discussion Paper No. 4/2013
Number of pages: 27 Posted: 20 Mar 2013 Last Revised: 31 Jan 2014
Iikka Korhonen and Anatoly Peresetsky
Bank of Finland - Institute for Economies in Transition (BOFIT) and National Research University Higher School of Economics (Moscow)
Downloads 93 (462,544)

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Russian stock market, oil, financial market integration, stock market returns, news, emerging markets, transition economies

15.

The Implications of Globalisation for the ECB Monetary Policy Strategy

ECB Occasional Paper No. 2021263
Number of pages: 93 Posted: 23 Sep 2021 Last Revised: 18 Nov 2021
David Lodge, Mary Everett, Olivier De Bandt, Georgios Georgiadis, Michele Ca’ Zorzi, Povilas Lastauskas, Juan Carluccio, Susana Parrága, Pietro Cova, Maria Grazia Attinasi, Mirco Balatti Mozzanica, Celestino Giron, Biswajit Banerjee, Vanessa Gunnella, Ursel Baumann, Yannick Hemmerlé, Jean Charles Bricongne, Axel Jochem, Francesco Chiacchio, Kristiina Karjanlahti, Ivan Kataryniuk, Davide Del Giudice, Iikka Korhonen, Clara De Luigi, Markus Kühnlenz, Dimitra Dimitropoulou, Vincent Labhard, Virginia Di Nino, Helena Le Mezo, Ettore Dorrucci, Eric Eichler, Nilsson Mattias, Martin Feldkircher, Chiara Osbat, Thomas Reininger, Sebastian Stumpner, Sebastian Stumpner, Ilona Van Schaik, Martin Schmitz, Helmut Wacket, Roberta Serafini, Tina Zumer and Daniele Siena
European Central Bank (ECB), Central Bank of Ireland, Banque de France, European Central Bank (ECB), European Central Bank (ECB), Center for Excellence in Finance and Economic Research, Banque de France, Banco de España, Bank of Italy, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), Národná banka Slovenska, European Central Bank (ECB), European Central Bank (ECB), De Nederlandsche Bank, Banque de France, Deutsche Bundesbank, European Central Bank (ECB), Bank of Finland, Banco de España, European Central Bank (ECB), Bank of Finland - Institute for Economies in Transition (BOFIT), Oesterreichische Nationalbank (OeNB), Deutsche Bundesbank, Bank of Greece, European Central Bank (ECB) - Directorate General Economics, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), Vienna School of International Studies, European Central Bank (ECB), Österreichische Nationalbank, Banque de FranceUniversity of Montreal - Department of Economics, De Nederlandsche Bank, European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB), European Central Bank (ECB) and Banque de France
Downloads 176 (282,537)

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Globalisation, inflation, monetary policy strategy, productivity, r*

16.

China and Central and Eastern European Countries: Regional Networks, Global Supply Chain or International Competitors?

BOFIT Discussion Paper No. 9/2008
Number of pages: 41 Posted: 18 Jun 2008
K. C. Fung, Iikka Korhonen, Rick Ke Li and Francis Ng
University of California at Santa Cruz, Bank of Finland - Institute for Economies in Transition (BOFIT), University of California, Santa Cruz and World Bank - Development Research Group (DECRG)
Downloads 175 (283,923)
Citation 1

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Foreign Direct Investment (FDI), Regional Networks, Global Supply Chain, China's FDI, Central and Eastern European Countries' FDI

17.

Business Cycle Synchronisation in a Currency Union: Taking Stock of the Evidence

Bank of Finland Research Discussion Paper No. 28/2017
Number of pages: 62 Posted: 20 Sep 2017 Last Revised: 18 Nov 2021
Nauro F. Campos, Jarko Fidrmuc and Iikka Korhonen
University College London, Zeppelin University Friedrichshafen and Bank of Finland - Institute for Economies in Transition (BOFIT)
Downloads 172 (288,194)
Citation 7

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business cycles synchronisation, optimum currency areas, EMU, euro, meta-analysis

18.

A Note on Exchange Rate Pass-through in CIS Countries

BOFIT Discussion Paper No. 2/2005
Number of pages: 28 Posted: 25 Jul 2007
Iikka Korhonen and Paul Wachtel
Bank of Finland - Institute for Economies in Transition (BOFIT) and New York University - Stern School of Business
Downloads 165 (298,534)
Citation 10

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exchange rate pass-through, inflation, exchange rate regime, transition countries

19.

Currency Boards in the Baltic Countries: What Have We Learned?

BOFIT Discussion Paper No. 6/1999
Number of pages: 43 Posted: 25 Sep 2007
Iikka Korhonen
Bank of Finland - Institute for Economies in Transition (BOFIT)
Downloads 146 (330,522)

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exchange rate, currency board, Baltic countries

20.

Observations on Disinflation in Transition Economies

BOFIT Discussion Paper No. 5/2004
Number of pages: 55 Posted: 13 May 2004
Paul Wachtel and Iikka Korhonen
New York University - Stern School of Business and Bank of Finland - Institute for Economies in Transition (BOFIT)
Downloads 138 (345,606)
Citation 4

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Transition, inflation, exchange rate regime, Poland, Romania, Estonia, Russia

21.

China and the World Economy: Wavelet Spectrum Analysis of Business Cycles

Applied Economics Letters, Vol. 21, No. 18, 2014, p. 1309-1313 , BOFIT Discussion Paper No. 5/2014
Number of pages: 22 Posted: 01 Feb 2014 Last Revised: 06 Mar 2015
Jitka Poměnková, Jarko Fidrmuc and Iikka Korhonen
Brno University of Technology, Zeppelin University Friedrichshafen and Bank of Finland - Institute for Economies in Transition (BOFIT)
Downloads 133 (355,572)
Citation 3

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globalization, business cycles, synchronization, trade, wavelet analysis

22.

Meta-Analysis of the Business Cycle Correlation between the Euro Area and the Ceecs

CESifo Working Paper Series No. 1693
Number of pages: 32 Posted: 05 Apr 2006
Jarko Fidrmuc and Iikka Korhonen
Zeppelin University Friedrichshafen and Bank of Finland - Institute for Economies in Transition (BOFIT)
Downloads 130 (361,755)
Citation 6

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monetary union, optimum currency area, business cycles, meta analysis

23.

A Meta-Analysis of Business Cycle Correlation between the Euro Area and CEECs: What Do We Know - and Who Cares?

BOFIT Discussion Paper No. 20/2004
Number of pages: 36 Posted: 19 Sep 2007
Jarko Fidrmuc and Iikka Korhonen
Zeppelin University Friedrichshafen and Bank of Finland - Institute for Economies in Transition (BOFIT)
Downloads 115 (396,012)
Citation 18

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monetary union, optimum currency area, business cycles, meta-analysis

24.

Renminbi Misaligned - Results from Meta-Regressions

BOFIT Discussion Paper No. 13/2009
Number of pages: 27 Posted: 11 Sep 2009
Iikka Korhonen and Maria Ritola
Bank of Finland - Institute for Economies in Transition (BOFIT) and Bank of Finland
Downloads 107 (417,174)
Citation 2

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equilibrium exchange rate, exchange rate misalignment, meta-analysis, China

25.

The Euro Goes East Implications of the 2000-2002 Economic Slowdown for Synchronisation of Business Cycles between the Euro Area and CEECs

Downloads 98 (443,465)
Citation 6

The Euro Goes East Implications of the 2000-2002 Economic Slowdown for Synchronisation of Business Cycles between the Euro Area and CEECs

BOFIT Discussion Paper No. 6/2003
Number of pages: 24 Posted: 19 Sep 2007
Jarko Fidrmuc and Iikka Korhonen
Zeppelin University Friedrichshafen and Bank of Finland - Institute for Economies in Transition (BOFIT)
Downloads 86 (486,285)
Citation 11

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optimum currency area, EU enlargement, structural VAR

The Euro Goes East: Implications of the 2000-2002 Economic Slowdown for Synchronisation of Business Cycles between the Euro Area and Ceecs

BOFIT Discussion Paper No. 6/2003
Number of pages: 24 Posted: 14 Feb 2017 Last Revised: 18 Nov 2021
Jarko Fidrmuc and Iikka Korhonen
Zeppelin University Friedrichshafen and Bank of Finland - Institute for Economies in Transition (BOFIT)
Downloads 12 (963,864)

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26.

Equilibrium Exchange Rates in Transition Countries: Evidence from Dynamic Heterogeneous Panel Models

BOFIT Discussion Paper No. 15/2002
Number of pages: 33 Posted: 20 Sep 2007
Byung-Yeon Kim and Iikka Korhonen
Sogang University - Department of Economics and Bank of Finland - Institute for Economies in Transition (BOFIT)
Downloads 94 (455,618)
Citation 17

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exchange rates, transition economies, dynamic heterogeneous panel estimations

27.

Composition of Exports and Cross-Country Corruption

BOFIT Discussion Paper No. 5/2009
Number of pages: 28 Posted: 03 Jul 2009
Rajeev K. Goel and Iikka Korhonen
Illinois State University - Department of Economics and Bank of Finland - Institute for Economies in Transition (BOFIT)
Downloads 89 (471,620)
Citation 1

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corruption, exports, resource curse, government

28.

A Monetary Policy Rule for Russia, or is it Rules?

BOFIT Discussion Paper No. 2/2016
Number of pages: 26 Posted: 17 Feb 2016
Iikka Korhonen and Riikka Nuutilainen
Bank of Finland - Institute for Economies in Transition (BOFIT) and Bank of Finland - Institute for Economies in Transition (BOFIT)
Downloads 85 (485,306)

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E31, E43, E52, P33, monetary policy rule, Taylor rule, McCallum rule, Russia, inflation

29.

Monetary Policy Transmission with Two Exchange Rates and a Single Currency: The Chinese Experience

BOFIT Discussion Paper No. 14/2017
Number of pages: 32 Posted: 24 Oct 2017 Last Revised: 18 Nov 2021
Qing He, Iikka Korhonen and Zongxin Qian
Renmin University of China, Bank of Finland - Institute for Economies in Transition (BOFIT) and Renmin University of China - School of Finance
Downloads 74 (526,144)

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CNY, CNH, monetary policy, capital controls, China

30.

Extracting Global Stochastic Trend from Non-Synchronous Data

BOFIT Discussion Paper No. 15/2013
Number of pages: 22 Posted: 06 Jul 2013
Iikka Korhonen and Anatoly Peresetsky
Bank of Finland - Institute for Economies in Transition (BOFIT) and National Research University Higher School of Economics (Moscow)
Downloads 70 (542,527)
Citation 2

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emerging stock markets, transition economies, financial market integration, stock market returns, global stochastic trend, state space model, Kalman filter, non-synchronous data

31.

China and Central and Eastern European Countries: Regional Networks, Global Supply Chain, or International Competitors?

World Bank Policy Research Working Paper No. 4689
Number of pages: 45 Posted: 20 Apr 2016
K. C. Fung, Iikka Korhonen, Rick Ke Li and Francis Ng
University of California, Santa Cruz - Department of Economics, Bank of Finland - Institute for Economies in Transition (BOFIT), University of California, Santa Cruz and World Bank - Development Research Group (DECRG)
Downloads 67 (555,497)

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Debt Markets, Foreign Direct Investment, Emerging Markets, Economic Theory & Research, Investment and Investment Climate

32.

Some Empirical Tests on the Integration of Economic Activity between the Euro Area and the Accession Countries

BOFIT Discussion Paper No. 9/2001
Number of pages: 32 Posted: 21 Sep 2007
Iikka Korhonen
Bank of Finland - Institute for Economies in Transition (BOFIT)
Downloads 59 (591,988)
Citation 11

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optimal currency area, monetary union, EU enlargement

33.

Meta-Analysis of Chinese Business Cycle Correlation

BOFIT Discussion Paper No. 6/2015
Number of pages: 35 Posted: 16 May 2016 Last Revised: 18 Nov 2021
Jarko Fidrmuc and Iikka Korhonen
Zeppelin University Friedrichshafen and Bank of Finland - Institute for Economies in Transition (BOFIT)
Downloads 57 (601,905)

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business cycle synchronization, meta-analysis, China

34.

China and Central & Eastern European Countries: Regional Networks, Global Supply Chain or International Competitors?

Journal of Economic Integration, Vol. 24, No. 3, pp. 476-504, September 2009
Number of pages: 30 Posted: 06 Jul 2011
Francis Ng, K. C. Fung, Iikka Korhonen and Rick Ke Li
World Bank - Development Research Group (DECRG), University of California at Santa Cruz, Bank of Finland - Institute for Economies in Transition (BOFIT) and University of California, Santa Cruz
Downloads 46 (661,741)

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foreign direct investment, FDI, regional networks, global supply

35.

Corruption Perceptions Versus Corruption Incidence: Competition for Rents Across Russian Regions

Journal of Economics and Finance, Vol. 40, No. 1, pp. 172-187, 2016
Posted: 29 Mar 2016 Last Revised: 19 Apr 2016
Veronika Belousova, Rajeev K. Goel and Iikka Korhonen
National Research University Higher School of Economics (Moscow), Illinois State University - Department of Economics and Bank of Finland - Institute for Economies in Transition (BOFIT)

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36.

Crescita economica nei paesi BRIC e confronti con il resto del mondo (Economic Growth in BRIC Countries and Comparisons with Rest of the World)

Economia Internazionale/International Economics, vol. 65, no. 3, pp. 447-471, 2011
Posted: 27 Sep 2014 Last Revised: 19 Apr 2016
Rajeev K. Goel and Iikka Korhonen
Illinois State University - Department of Economics and Bank of Finland - Institute for Economies in Transition (BOFIT)

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Economic growth; BRIC countries; Exports; Institutions; Corruption ; World

37.

Exports and Cross-National Corruption: A Disaggregated Examination

Economic Systems, Vol. 35, No. 1, pp. 109-124, 2011
Posted: 01 Aug 2011 Last Revised: 19 Apr 2016
Rajeev K. Goel and Iikka Korhonen
Illinois State University - Department of Economics and Bank of Finland - Institute for Economies in Transition (BOFIT)

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Corruption, Exports, Resource curse, Government, Quantile regression

38.

Money Demand in Post-Crisis Russia: De-Dollarisation and Re-Monetisation

BOFIT Discussion Paper No. 14/2007
Posted: 04 Sep 2007 Last Revised: 22 Oct 2007
Iikka Korhonen and Aaron N. Mehrotra
Bank of Finland - Institute for Economies in Transition (BOFIT) and Bank for International Settlements (BIS)

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money demand, vector error correction models, dollarisation, Russia