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Globally, financial institutions have increased their holdings of domestic sovereign debt, tightening the linkage between the health of the financial system and the level of sovereign debt, or the "financial sector-sovereign nexus," during the ongoing COVID-19 pandemic. In South Africa, the...
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The macroeconomic policy response in India after the North Atlantic financial crisis (NAFC) was rapid. The overshooting …
Persistent link: https://www.econbiz.de/10014411209
Cross-border capital flows are important for South Africa. They fund the nation's relatively large external financing needs and have important financial stability implications evidenced by the large capital outflows and asset price selloffs during the COVID-19 pandemic. This paper adds to the...
Persistent link: https://www.econbiz.de/10012796323
Abstract In this paper we ask whether countries can influence their exposure to changes in global financial conditions. Specifically, we show that even though we can model cross-country capital flows via a global factor that closely tracks changes in global financial conditions, there is a large...
Persistent link: https://www.econbiz.de/10012518283
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The North Atlantic financial crisis of 2008-2009 has spurred renewed interest in reforming the international monetary system, which has been malfunctioning in many aspects. Large and volatile capital flows have promoted greater volatility in financial markets, leading to recurrent financial...
Persistent link: https://www.econbiz.de/10014394532
The question of how India should adapt monetary policy to ongoing financial globalization has gained prominence with … the recent surge in capital inflows. This paper documents the degree to which India has become financially globalized … openness, India''s domestic monetary conditions are highly influenced by global factors. We then review the experiences of …
Persistent link: https://www.econbiz.de/10014401391
BRICs development financing flows have increased significantly and are expected to become more prominent in the post-crisis era. We investigate the potential implications on the country-allocation of loan commitments and the degree of concessionality using a panel vector autoregression model and...
Persistent link: https://www.econbiz.de/10014397783