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What Segments Equity Markets?

Bekaert, Geert - 2009

We propose a new, valuation-based measure of world equity market segmentation. While we observe decreased levels of …

Persistent link: https://www.econbiz.de/10012463845

Market Integration and Contagion

Bekaert, Geert - 2003

to providing new insights on contagion during crisis periods, we document patterns through time in world and regional …

Persistent link: https://www.econbiz.de/10012469193

Does Financial Liberalization Spur Growth?

Bekaert, Geert - 2001

We show that equity market liberalizations, on average, lead to a one percent increase in annual real economic growth over a five-year period. The liberalization effect is not spuriously accounted for by macro-economic reforms and does not reflect a business cycle effect. Although financial...

Persistent link: https://www.econbiz.de/10012470479

Dating the Integration of World Equity Markets

Bekaert, Geert - 1998

Measuring the integration of world capital markets is notoriously difficult. For example, regulatory changes which … equity market becomes financially integrated with world capital markets. We find endogenous break dates that are very … markets are on average larger and more liquid than before; returns are more volatile and more highly correlated with the world …

Persistent link: https://www.econbiz.de/10012472089

Time-Varying World Market Integration

Bekaert, Geert - 1994

-switching model, allows us to describe expected returns in countries that are segmented from world capital markets in one part of the …

Persistent link: https://www.econbiz.de/10012474072

The Global Rise of Corporate Saving

Chen, Peter - 2017

The sectoral composition of global saving changed dramatically during the last three decades. Whereas in the early 1980s most of global investment was funded by household saving, nowadays nearly two-thirds of global investment is funded by corporate saving. This shift in the sectoral composition...

Persistent link: https://www.econbiz.de/10012455548

On the Global Financial Market Integration “Swoosh” and the Trilemma

Bekaert, Geert - 2017

We propose a simple measure of de facto financial market integration based on a factor model of monthly equity returns, which can be computed back to the first era of financial globalization for 17 countries. Global financial market integration follows a "swoosh" shape - i.e. high pre-1913,...

Persistent link: https://www.econbiz.de/10012455557

Flights to Safety

Baele, Lieven - 2013

Despite a large and growing theoretical literature on flights to safety, there does not appear to exist an empirical characterization of flight-to-safety (FTS) episodes. Using only data on bond and stock returns, we identify and characterize flight to safety episodes for 23 countries. On...

Persistent link: https://www.econbiz.de/10012459566

Global Crises and Equity Market Contagion

Bekaert, Geert - 2011

Using the 2007-09 financial crisis as a laboratory, we analyze the transmission of crises to country-industry equity portfolios in 55 countries. We use a factor model to predict crisis returns, defining unexplained increases in factor loadings and residual correlations as indicative of...

Persistent link: https://www.econbiz.de/10012461537

Corporate Debt Structure with Home and International Currency Bias

Maggiori, Matteo; Neiman, Brent; Schreger, Jesse - National Bureau of Economic Research - 2023

We explore the consequences of global capital market segmentation by currency for the optimal currency composition of borrowing by firms. Global bond portfolios are driven by the currency of denomination of assets as investors prefer to lend in their home currency or the international currency,...

Persistent link: https://www.econbiz.de/10014437022