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Fickle Investors : An Impediment to Growth?

Scott, A.; Uhlig, H.F.H.V.S. - Tilburg University, Center for Economic Research - 1998

investment flows. We do not make any empirical attempt to establish the existence or gauge the importance of the adverse effects … of volatile investment flows nor do we make any implicit claims regarding the role of such flows in recent exchange rate … investment funds traces out a meanvariance tradeoff for the growth rate of the economy. In particular, the volatility of these …

Persistent link: https://www.econbiz.de/10011091428

Common Stochastic Trends in the Current Account

Kumah, F.Y. - Tilburg University, Center for Economic Research - 1996

fluctuations in investment and the current account.The theoretical framework utilized provides long run restrictions relevant for …) in explaining fluctuations in the current account though very significant in explaining investment fluctuations. …

Persistent link: https://www.econbiz.de/10011091084

Capital Controls, Two-tiered Exchange Rate Systems and the Exchange Rate Policy : The South African Experience

Schaling, E. - Tilburg University, Center for Economic Research - 2005

South Africa's 40 years of experience with capital controls on residents and non-residents (1961-2001) reads like a collection of examples of perverse unanticipated effects of legislation and regulation.We show that the presence of capital controls on residents and non-residents, enabled the...

Persistent link: https://www.econbiz.de/10011091128

The fundamental determinants of financial integration in the European Union

Eijffinger, Sylvester; Lemmen, J.J.G. - Tilburg University, Center for Economic Research - 1995

This paper focuses on the fundamental determinants of the degree of financial integration in the European Union over the period 1973-1993. Using closed interest differentials to measure the intensity of capital controls and applying a panel data approach, we find realized inflation rates,...

Persistent link: https://www.econbiz.de/10011091160

Fiscal Policies and Endogenous Growth in Integrated Capital Markets

Lejour, A.M.; Verbon, H.A.A. - Tilburg University, Center for Economic Research - 1996

capital mobility.Public investment and a public consumption good are financed by a source-based capital-income tax. By … comparing the cases in which countries do and do not coordinate their fiscal policies, it follows that spending on investment ….Coordination of only investment policy decreases the inefficiency of that policy, but it increases the inefficiency of noncoordinated …

Persistent link: https://www.econbiz.de/10011092601

Beggar Thy Thrifty Neighbour : The International Spillover Effects of Pensions Under Population Ageing

Meijdam, Lex; Adema, Y.; Verbon, H.A.A. - Tilburg University, Center for Economic Research - 2006

This paper explores the international spillover effects of ageing through capital markets when countries have different pension systems.We use a two-country twoperiod overlapping-generations model, where the two countries only differ in their pension schemes.Two forms of population ageing are...

Persistent link: https://www.econbiz.de/10011092620

The FDI-Growth Nexus in Latin America : The Role of Source Countries and Local Conditions

Prufer, Patricia; Tondl, G. - Tilburg University, Center for Economic Research - 2008

Foreign Direct Investment (FDI) has surged in Latin America (LA) since the mid 1990s. European and North American FDI …

Persistent link: https://www.econbiz.de/10011092658

Common Factors in International Bond Returns

Driessen, Joost; Melenberg, Bertrand; Nijman, Theo - Tilburg University, Center for Economic Research - 2000

In this paper we estimate and interpret the factors that jointly determine bond returns of different maturities in the US, Germany and Japan.We analyze both currency-hedged and unhedged bond returns.For currency-hedged bond returns, we find that five factors explain 96.5% of the variation of...

Persistent link: https://www.econbiz.de/10011092795

Relational Contracting Under the Threat of Expropriation – Experimental Evidence

Brown, M.; Serra Garcia, M. - Tilburg University, Center for Economic Research - 2010

We examine how relational contracting in credit and investment relationships is affected by the potential expropriation … as to foreign direct investment in countries with weak investor protection. …

Persistent link: https://www.econbiz.de/10011091706

Why is capital so immobile internationally? : Possible explanations and implications for capital income taxation

Bovenberg, A.L.Bovenberg; Gordon, R.H. - Tilburg University, Center for Economic Research - 1994

Persistent link: https://www.econbiz.de/10011092517