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The impact of sovereign wealth funds on global financial markets

Beck, Roland; Fidora, Michael - 2008

This paper analyses the impact of sovereign wealth funds (SWFs) on global financial markets. It presents back-of-the-envelope calculations which simulate the potential impact of a transfer of traditional foreign exchange reserves to SWFs on global capital flows. If SWFs behave as CAPM-type...

Persistent link: https://www.econbiz.de/10011606243

Where does price discovery occur in FX markets?

D'Souza, Chris - 2007

Trades in foreign exchange markets are initiated around the world and around the clock. This study illustrates that trades are more informative when initiated in a local country or in major foreign exchange centers like London and New York. Evidence suggests that informational asymmetries based...

Persistent link: https://www.econbiz.de/10010279938

Testing for financial contagion with applications to the Canadian banking system

Li, Fuchun - 2009

The author proposes a new test for financial contagion based on a non-parametric measure of the cross … good power to detect financial contagion, and that Forbes and Rigobon's test (2002) is conservative, suggesting that their … test tends not to find evidence of contagion when it does exist. The author's new test is applied to investigate contagion …

Persistent link: https://www.econbiz.de/10010279944

Corporate ‘excesses’ and financial market dynamics

Maddaloni, Angela; Pain, Darren - 2004

The recent corporate failures in the US and in Europe have considerably damaged investors’ confidence in the functioning of financial markets and the ability of the regulatory framework to safeguard their interest and prevent fraud. These episodes demonstrate that market failures exist, which...

Persistent link: https://www.econbiz.de/10011606169