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. The paper provides an overview of the new globalization trends in the world and in Israel, with emphasis on the role of …Post WWII globalization forces are facing headwinds in the form of global crises-the “The Great Recession” and the “The … Pandemic Recession”. Israel’s trade and financial globalization, however, is steadily rising. The pandemic-induced slump in …
Persistent link: https://www.econbiz.de/10013250932
This paper documents a set of new stylized facts about leverage and financial fragility for emerging market firms following the Global Financial Crisis (GFC). Corporate debt vulnerability indicators during the Asian Financial Crisis (AFC) attributed to corporate financial roots provide a...
Persistent link: https://www.econbiz.de/10012956372
The paper argues that global financial factors played an important role in the capital-inflow episode in Emerging Market economies (EMs), during the early part of the 1990s, and clearly in the Sudden Stop (of capital inflows) crises that took place after the 1998 Russian crisis. Moreover, the...
Persistent link: https://www.econbiz.de/10013313675
Persistent link: https://www.econbiz.de/10014320179
We ask how export demand shocks associated with the Asian financial crisis affected Chinese exporters. We construct firm-specific exchange rate shocks based on the pre-crisis destinations of firms' exports. Because the shocks were unanticipated and large, they are a plausible instrument for...
Persistent link: https://www.econbiz.de/10012758022
exporters including Malaysia. On the import side, the falls in world oil prices impact sharply on import values. We also compare …
Persistent link: https://www.econbiz.de/10013141843
convergence of the three policy goals in East Asia toward a “middle ground” pre-dates the convergence of these indices in other … known as the most distinct characteristic of Asian EMEs. Financial globalization seems to have made asset prices and …. One big dollar-zone economy that has been increasing its presence in Asia is China. However, China has been recently …
Persistent link: https://www.econbiz.de/10012991684
We investigate the relationship between economic growth and lagged international capital flows, disaggregated into FDI, portfolio investment, equity investment, and short-term debt. We follow about 100 countries during 1990-2010 when emerging markets became more integrated into the international...
Persistent link: https://www.econbiz.de/10013119605
shifts. By shocks we mean sudden jolts to the world economy in the form of financial crises and deep recessions, or wars and …
Persistent link: https://www.econbiz.de/10013092123
originate elsewhere in the world. It explains that trade can transmit crises internationally via three distinct, and possible …
Persistent link: https://www.econbiz.de/10013313643