Similar Search Results

Financial Integration, Growth, and Volatility

Epaulard, Anne; Pommeret, Aude - International Monetary Fund (IMF) - 2005

The aim of this paper is to evaluate the welfare gains from financial integration for developing and emerging market economies. To do so, we build a stochastic endogenous growth model for a small open economy that can (i) borrow from the rest of the world, (ii) invest in foreign assets, and...

Persistent link: https://www.econbiz.de/10005248157

Multinational Affiliates and Local Financial Markets

Sayek, Selin; Lehmann, Alexander; Kang, Hyoung Goo - International Monetary Fund (IMF) - 2004

We use data on the sources of debt finance of U.S. majority-owned foreign affiliates in 53 countries over the period 1983 to 2001 to examine the role of financial market development, and exposure to host country-specific risk on the financing choices of these affiliates. We find that total...

Persistent link: https://www.econbiz.de/10005263683

The Chinese Approach to Capital Inflows; Patterns and Possible Explanations

Wei, Shang-Jin; Prasad, Eswar - International Monetary Fund (IMF) - 2005

In this paper, we adopt a cross-country perspective to examine the evolution of capital flows into China, both in terms … of volumes and composition. China's inflows have generally been dominated by foreign direct investment (FDI), a pattern … globalization. We provide a detailed documentation of the evolution of China's capital controls, a proximate determinant of the …

Persistent link: https://www.econbiz.de/10005263846

Testing Real Interest Parity in Emerging Markets

Banerjee, Abhisek; Singh, Manmohan - International Monetary Fund (IMF) - 2006

The paper finds significant deviations between short-term emerging market real interest rates and world real interest rates primarily due to the inflationary expectations of the local investor base. We test for long-run real interest convergence in emerging markets using a time varying panel...

Persistent link: https://www.econbiz.de/10005263976

Use of Participatory Notes in Indian Equity Markets and Recent Regulatory Changes

Singh, Manmohan - International Monetary Fund (IMF) - 2007

This paper focuses on the use of participatory notes (PNs) by foreign investors, as a conduit for portfolio flows into Indian equity markets for more than a decade. The broadening of India's foreign investor base, in recent years, has a bias towards hedge funds/unregistered foreign investors who...

Persistent link: https://www.econbiz.de/10005264002

Debt Dynamics and Global Imbalances; Some Conventional Views Reconsidered

Meredith, Guy - International Monetary Fund (IMF) - 2007

We use a general-equilibrium model to explain the rise in global trade and payments imbalances since the mid-1990s, and then to construct adjustment paths to a steady state. Assuming that the shocks giving rise to the imbalances do not suddenly reverse, simulated movements in the U.S. trade...

Persistent link: https://www.econbiz.de/10005264044

Foreign Banks; Trends, Impact and Financial Stability

Horen, Neeltje van; Claessens, Stijn - International Monetary Fund (IMF) - 2012

This paper introduces a comprehensive database on bank ownership for 137 countries over 1995-2009, and reviews foreign bank behavior and impact. It documents substantial increases in foreign bank presence, with many more home and host countries. Current market shares of foreign banks average 20...

Persistent link: https://www.econbiz.de/10009650620

Financial Integration and Rebalancing in Asia

Unteroberdoerster, Olaf; Pongsaparn, Runchana - International Monetary Fund (IMF) - 2011

The paper shows that Asia's degree of financial integration, both with the world and within the region remains low by various measures. The paper also provides empirical evidence that greater financial integration can support economic rebalancing in statistically meaningful ways. The implication...

Persistent link: https://www.econbiz.de/10009369446

FDI from BRICs to LICs; Emerging Growth Driver?

Mlachila, Montfort; Takebe, Misa - International Monetary Fund (IMF) - 2011

FDI-flows from Brazil, Russia, India and China (BRICs). The paper finds that official data sources undoubtedly …

Persistent link: https://www.econbiz.de/10009203549

Financing Infrastructure in India; Macroeconomic Lessons and Emerging Market Case Studies

Walsh, James P; Yu, Jiangyan; Park, Chanho - International Monetary Fund (IMF) - 2011

Driving infrastructure development, notably mobilizing financial resources for infrastructure projects, has been challenging in many countries. This study includes two parts: an empirical analysis of macroeconomic risks associated with infrastructure booms, and a case study of four emerging...

Persistent link: https://www.econbiz.de/10009203552