Similar Search Results

Commodity Price Volatility and World Market Integration since 1700

Jacks, David S. - 2009

of life deep into the 18th century. Does world market integration breed more or less commodity price volatility? The … been associated with much greater commodity price volatility, while world market integration associated with peace and pro … never been constant. Globalization increased poor country specialization in commodities when the world went open after the …

Persistent link: https://www.econbiz.de/10012463899

Regional Contagion and the Globalization of Securities Markets

Calvo, Guillermo A. - 1999

This paper argues that the globalization of securities markets may promote contagion among investors by weakening incentives for gathering costly country-specific information and by strengthening incentives for imitating arbitrary market portfolios. In the presence of short-selling constraints,...

Persistent link: https://www.econbiz.de/10012471634

Global Macro-Financial Cycles and Spillovers

Ha, Jongrim - 2020

We develop a new dynamic factor model that allows us to jointly characterize global macroeconomic and financial cycles and the spillovers between them. The model decomposes macroeconomic cycles into the part driven by global and country-specific macro factors and the part driven by spillovers...

Persistent link: https://www.econbiz.de/10012479322

The Spread of Deposit Insurance and the Global Rise in Bank Asset Risk since the 1970s

Calomiris, Charles W. - 2018

We construct a new measure of the changing generosity of deposit insurance for many countries, empirically model the international influences on the adoption and generosity of deposit insurance, and show that the expansion of deposit insurance generosity increased asset risk in banking systems....

Persistent link: https://www.econbiz.de/10012480591

Financial Globalization, Financial Crises and Contagion

Mendoza, Enrique G. - 2009

financial institutions and asset markets. Using an open-economy model where financial intermediaries play a central role, we …

Persistent link: https://www.econbiz.de/10012463217

Thresholds in the Process of International Financial Integration

Kose, M. Ayhan - 2009

, however, is that there seem to be certain "threshold" levels of financial and institutional development that an economy needs …

Persistent link: https://www.econbiz.de/10012463732

Global Imbalances and Financial Fragility

Caballero, Ricardo J. - 2009

behind this crisis is the large demand for riskless assets from the rest of the world. In this paper we present a model to …

Persistent link: https://www.econbiz.de/10012463959

Global Business Cycles : Convergence or Decoupling?

Kose, M. Ayhan - 2008

This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups -- industrial countries, emerging markets, and other developing economies. Using a dynamic factor model, we then decompose...

Persistent link: https://www.econbiz.de/10012464278

Global Trade and the Maritime Transport Revolution

Jacks, David S. - 2008

What is the role of transport improvements in globalization? We argue that the nineteenth century is the ideal testing ground for this question: freight rates fell on average by 50% while global trade increased 400% from 1870 to 1913. We estimate the first indices of bilateral freight rates for...

Persistent link: https://www.econbiz.de/10012464507

Precautionary Demand for Foreign Assets in Sudden Stop Economies : An Assessment of the New Merchantilism

Durdu, Ceyhun Bora - 2007

Financial globalization was off to a rocky start in emerging economies hit by Sudden Stops since the mid 1990s. Foreign reserves grew very rapidly during this period, and hence it is often argued that we live in the era of a New Merchantilism in which large stocks of reserves are a war-chest for...

Persistent link: https://www.econbiz.de/10012465531