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International Financial Integration through Equity Markets : Which Firms from Which Countries Go Global?

Claessens, Stijn; Schmukler, Sergio L. - 2012

equity, and cross-listing in major world stock markets. Using a large sample of 39,517 firms from 111 countries covering the …

Persistent link: https://www.econbiz.de/10012552596

Internationalization and the Evolution of Corporate Valuation

Gozzi, Juan Carlos; Levine, Ross; Schmukler, Sergio L. - 2012

By documenting the evolution of Tobin's q before, during, and after firms internationalize, the authors provide evidence on the bonding, segmentation, and market timing theories of internationalization. Using new data on 9,096 firms across 74 countries over the period 1989-2000, they find that...

Persistent link: https://www.econbiz.de/10012553757

The International Financial Integration of China and India

Lane, Philip R.; Schmukler, Sergio L. - 2012

Three main features characterize the international financial integration of China and India. First, while only having a small global share of privately-held external assets and liabilities (with the exception of China's foreign direct investment liabilities), these countries are large holders of...

Persistent link: https://www.econbiz.de/10012552582

Lessons of the crisis for emerging markets

Eichengreen, Barry - 2009

regulation. By contrast, the implications for other dimensions of globalization and for the structure of the international …

Persistent link: https://www.econbiz.de/10003927990

Crises, capital controls, and financial integration

Levy Yeyati, Eduardo; Schmukler, Sergio L.; Horen, … - 2008

This paper analyzes the effects of capital controls and crises on financial integration, using stocks from emerging economies that trade in both domestic and international markets. The cross-market premium (the ratio between the domestic and the international market price of cross-listed stocks)...

Persistent link: https://www.econbiz.de/10003855387

Exchange rates and global rebalancing

Eichengreen, Barry; Rua, Gisela - 2011

This paper considers the general equilibrium relationship between exchange rates and global imbalances. It emphasizes that the exchange rate is not a primitive but an equilibrium price determined by the policy mix. It uses extensions of the two-country Obstfeld-Rogoff model to analyze the...

Persistent link: https://www.econbiz.de/10008937609

Crises, Capital Controls, and Financial Integration

Yeyati, Eduardo Levy; Schmukler, Sergio L.; Van Horen, … - 2012

This paper analyzes the effects of capital controls and crises on international financial integration, using data on stocks from emerging economies that trade in domestic and international markets. The cross-market premium (the ratio between the domestic and international market price of...

Persistent link: https://www.econbiz.de/10012552205

Financial Globalization in Emerging Countries : Diversification vs. Offshoring

Ceballos, Francisco; Didier, Tatiana; Schmukler, Sergio L. - 2012

transactions take place. The authors find that globalization via the diversification channel expanded throughout the world during …Financial globalization has gathered attention since the early 1990s because of its macro-financial implications and … growing importance. But financial globalization has taken shape via different forms over time. This paper examines two …

Persistent link: https://www.econbiz.de/10012554536

Explaining the Migration of Stocks from Exchanges in Emerging Economies to International Centers

Claessens, Stijn; Klingebiel, Daniela; Schmukler, Sergio L. - 2013

The authors study the determinants of the growing migration of stock market activity to international financial centers. They use a sample of 77 countries and document that higher economic growth and more macroeconomic stability help stock market development. Countries with higher income per...

Persistent link: https://www.econbiz.de/10012559577

Why trade finance gaps persist : does it matter for trade and development?

Auboin, Marc; DiCaprio, Alisa - 2017

Trade finance shortfalls now appear regularly. Does this matter for trade expansion and economic development in developing countries? Global trade finance has resumed following the 2009 global financial crisis. However, the pattern of recovery has been uneven across countries and categories of...

Persistent link: https://www.econbiz.de/10011631528