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Does country transparency affect international portfolio investment? We examine this and related questions using some … new measures of transparency and a unique micro dataset on international portfolio holdings. We distinguish between … government and corporate transparency. There is clear evidence that international funds invest systematically less in less …
Persistent link: https://www.econbiz.de/10012469449
While the 2008-2009 financial crisis originated in the United States, we witnessed steep declines in output, consumption and investment of similar magnitudes around the globe. This raises two questions. First, given the observed strong home bias in goods and financial markets, what can account...
Persistent link: https://www.econbiz.de/10012459599
Latin American economies are exposed to substantial external vulnerability. Domestic imbalances and terms of trade shocks are often exacerbated by sudden stops of capital inflow. In this paper we explore ways of overcoming external vulnerability, drawing lessons from a detailed comparison of the...
Persistent link: https://www.econbiz.de/10012468174
In this paper, we show that cross-border portfolio flows around the peak of the European Crisis induced households to rebalance their portfolios toward housing. Estimating difference-in-differences regressions around Draghi's "Whatever It Take" speech in July 2012 with household data from the...
Persistent link: https://www.econbiz.de/10014512064
Persistent link: https://www.econbiz.de/10003937515
-capita income are associated with shorter-term maturities of external debt. The level of international trade does not seem to have …
Persistent link: https://www.econbiz.de/10012471420
We propose a theory of endogenous composition of capital flows that highlights two asymmetries between international …
Persistent link: https://www.econbiz.de/10012481712
, regional and domestic variables. What used to be large global "waves" in international capital flows have more recently become …
Persistent link: https://www.econbiz.de/10012482032
recovery. External vulnerabilities were important in both phases, and higher international reserves did not insulate countries …
Persistent link: https://www.econbiz.de/10012462052
international reserves (IR) by emerging markets during the 2000s, as the Great Moderation turned to the 2008-9 global crisis and …
Persistent link: https://www.econbiz.de/10012462210