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How Should We Bank With Foreigners? An Empirical Assessment of Lending Behaviour of International Banks to Six East Asian Countries
Pontines, Victor; Siregar, Reza - Crawford School of Public Policy, Australian National … - 2012
The possible crucial role of international bank lending in the transmission of adverse economic disturbance from advanced economies to emerging economies in the recent global financial crisis has once again placed this type of capital flows into sharper scrutiny both in academic and policy...
Persistent link: https://www.econbiz.de/10011201588
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Differential Impacts of Foreign Capital and Remittance Inflows on Domestic Savings in the Developing Countries: A Dynamic Heterogeneous Panel Analysis
Hossain, Delwar - Crawford School of Public Policy, Australian National … - 2014
The study examines the role of foreign capital and remittance inflows in the domestic savings of 63 developing countries for 1971-2010, paying attention to likely differential effects of FDI, portfolio investment, foreign aid and remittance. The conventional homogeneous panel estimates suggest...
Persistent link: https://www.econbiz.de/10010762633
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Economic Vulnerability and Poverty in Tajikistan
Jha, Raghbendra; Dang, Tu; Tashrifov, Yusuf - Crawford School of Public Policy, Australian National … - 2008
We examine the profile of poverty and vulnerability in Tajikistan using household level panel data for 2004 and 2005. The drop in poverty was largely due to increase in remittances from workers working overseas. People are more likely to be poor if they live in a) rural areas, b) large...
Persistent link: https://www.econbiz.de/10005106859
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The determinants of the volatility of returns on cross-border asset holdings
Balli, Faruk; Basher, Syed Abul; Rana, Faisal - Crawford School of Public Policy, Australian National … - 2014
number of findings regarding the determinants of the volatility of returns on cross-border asset holdings (i.e., equity and … volatility, whereas more financial integration and a greater share held in Organization for Economic Cooperation and Development … countries and by the household sector cause a reduction in the return volatility. Larger asset holdings by offshore financial …
Persistent link: https://www.econbiz.de/10010860345
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Financial Contagion and the Real Economy
Baur, Dirk G. - Crawford School of Public Policy, Australian National … - 2010
The global financial crisis of 2008 was a crisis affecting both the financial sector and the “real economy”. This paper analyzes the transmission of unexpected shocks from the financial sector in the US to other countries and sectors. We test the hypothesis that the financial crisis spread...
Persistent link: https://www.econbiz.de/10010860358
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AN UNOBSERVED COMPONENTS COMMON CYCLE FOR AUSTRALIA? IMPLICATIONS FOR A COMMON CURRENCY
Hall, Viv; McDermott, John - Crawford School of Public Policy, Australian National … - 2008
An important requirement, prior to countries’ adopting a common currency or maintaining an independent monetary policy, is establishing the extent to which they share a common economic cycle and how susceptible they are to region-specific shocks. For example, Kouparitsas (2001) has examined...
Persistent link: https://www.econbiz.de/10010860359
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AN AUSTRALASIAN CURRENCY, NEW ZEALAND ADOPTING THE US DOLLAR, OR AN INDEPENDENT MONETARY POLICY?
Hall, Viv B. - Crawford School of Public Policy, Australian National … - 2005
Arguments for and against abandoning independent national currencies and monetary policies have varied considerably over time and by country. For New Zealand, it can be argued that a key driving force behind recent debates has been the conduct of monetary policy and the need for improved overall...
Persistent link: https://www.econbiz.de/10010904335
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Exchange Rates Dynamics with Long-Run Risk and Recursive Preferences
Kollmann, Robert - Crawford School of Public Policy, Australian National … - 2014
, then long-run risk generates insufficient exchange rate volatility. A long-run risk model with recursive-preferences can … generate realistic exchange rate volatility, if all agents efficiently share their consumption risk by trading in complete … volatility. …
Persistent link: https://www.econbiz.de/10010942940
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Mercantilism and China’s hunger for international reserves
Schroder, Marcel - Crawford School of Public Policy, Australian National … - 2015
This paper is motivated by the popular view that the surge in China’s foreign exchange reserves is due to a distortionary exchange rate policy aimed at keeping the real exchange rate undervalued to support export-led growth. It undertakes an in-depth empirical investigation to quantify how...
Persistent link: https://www.econbiz.de/10011252688
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Valuation effects, risk sharing, and consumption smoothing
Schroder, Marcel - Crawford School of Public Policy, Australian National … - 2015
In theory, valuation effects (changes in net external assets of a country arising from movements in exchange rates or asset returns) are an important channel of international risk sharing as they facilitate external adjustment. However, the effects can also be economically destabilizing in the...
Persistent link: https://www.econbiz.de/10011252694