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Freeze! : financial sanctions and bank responses
Efing, Matthias; Goldbach, Stefan; Nitsch, Volker - 2018
We study the effects of financial sanctions on cross-border credit supply. Using a differences-in-differences approach to analyze eleven sanctions episodes between 2002 and 2015, we find that banks located in Germany reduce their positions in countries with sanctioned entities by 38%. The...
Persistent link: https://www.econbiz.de/10011952047
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Global banking, trade, and the international transmission of the great recession
Born, Alexandra; Enders, Zeno - 2018
large parts of the world. In this paper we explore the financial and the trade channel in a unified framework and quantify …, resulting in larger cumulated output losses and a prolonged crisis particularly in the UK. Stricter enforcement of bank capital …
Persistent link: https://www.econbiz.de/10011800166
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Alternative measures for the global financial cycle : do they make a difference?
Tian, Xin; Jacobs, Jan; Haan, Jakob de - 2022
We construct several measures for the global financial cycle using dynamic factor models and data for 25 advanced and emerging countries over 1980-2019. Our results suggest that global cycles in asset prices and capital flows are highly similar and synchronized, especially during crisis...
Persistent link: https://www.econbiz.de/10013186798
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Stigma? What Stigma? : a contribution to the debate on the effectiveness of IMF lending
Scheubel, Beatrice; Tafuro, Andrea; Vonessen, Benjamin - 2018
There is a perception that IMF programmes are not catalytic and instead associated with large capital outflows, higher refinancing costs for sovereigns and adverse movements in stock markets. This has led to concerns that an expectation of adverse effects of IMF programmes may deter countries...
Persistent link: https://www.econbiz.de/10011846238
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International Financial Crises
Dornbusch, Rudiger; Fischer, Stanley - 2003
Our friend and colleague Rüdiger Dornbusch passed away before he was able tocomplete his book based on the Munich Lectures in Economics that he gave inNovember 17, 1998, at the Center for Economic Studies of Ludwig-Maximilians-Universität.The lectures contain a fascinating overview of the...
Persistent link: https://www.econbiz.de/10011507825
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What do we know about the global financial safety net? : a new comprehensive data set
Scheubel, Beatrice; Stracca, Livio - 2016
provide a comprehensive database covering four elements of the GFSN (foreign exchange reserves, IMF financing, central bank …
Persistent link: https://www.econbiz.de/10011565481
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Investors' trading behaviour and stock market volatility during crisis periods : a dual long-memory model for the Korean stock exchange
Caporale, Guglielmo Maria; Karanasos, Menelaos; Yfanti, … - 2019
This study examines the impact of investors' buy and sell trades on Korean stock market volatility across two crisis events, the Asian crisis of 1997 and the 2008 global financial crash. We investigate the trading behaviour of domestic vs. foreign and institutional vs. individual investors. Our...
Persistent link: https://www.econbiz.de/10012138660
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Cross-border banking in regulated markets : is financial integration desirable?
Haufler, Andreas; Wooton, Ian - 2016
untraded consumer goods in an uncertain productive environment, borrowing funds from a bank in either the home or the foreign … of bank failure is partly borne by taxpayers in the bank's home countries. Moreover, each bank chooses the share of its … lending allocated between domestic and foreign firms, but the bank's overall loan volume is fixed by a capital requirement set …
Persistent link: https://www.econbiz.de/10011554376
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International portfolio flows and exchange rate volatility for emerging markets
Caporale, Guglielmo Maria; Ali, Faek Menla; Spagnolo, Fabio - 2015
This paper investigates the effects of equity and bond portfolio in.ows on exchange rate volatility, using monthly bilateral data for the US vis-a-vis eight Asian developing and emerging countries (India, Indonesia, South Korea, Pakistan, Hong Kong, Thailand, the Philippines, and Taiwan) over...
Persistent link: https://www.econbiz.de/10011387464
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Cross-border portfolio flows and news media coverage
Caporale, Guglielmo Maria; Ali, Faek Menla; Spagnolo, Fabio - 2020
This paper investigates the dynamic linkages between portfolio flows and various news indices (based on both "positive" and "negative" news headlines collected from Bloomberg), whilst also controlling for a comprehensive set of push and pull factors. The monthly panel examined comprises 49...
Persistent link: https://www.econbiz.de/10012171852