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FDI and Productivity Covergence in Central and Eastern Europe : An Industry-Level Investigation
Bijsterbosch, Martin - 2009
This paper presents empirical evidence of the effect of FDI inflows on productivity convergence in central and eastern Europe, using industry-level data. Four conclusions stand out. First, there is a strong convergence effect in productivity, both at the country and at the industry level....
Persistent link: https://www.econbiz.de/10012765711
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The impact of the euro on financial markets
Cappiello, Lorenzo; Hördahl, Peter; Kadareja, Arjan; … - 2006
We assess whether the euro had an impact first on the degree of integration of European financial markets, and, second, on the euro area term structure. We propose two methodologies to measure integration: one relies on time-varying GARCH correlations, and the other one on a regression...
Persistent link: https://www.econbiz.de/10011604644
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Sovereign credit ratings, market volatility, and financial gains
Afonso, António; Gomes, Pedro; Taamouti, Abderrahim - 2014
filtered using EGARCH specifications. The estimation results show that upgrades do not have significant effects on volatility …, but downgrades increase stock and bond market volatility. Contagion is present, with sovereign rating announcements … (increase) in volatility in other countries. The empirical results show also a financial gain and risk (value-at-risk) reduction …
Persistent link: https://www.econbiz.de/10011605699
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Sovereign Credit Ratings, Market Volatility, and Financial Gains
Afonso, António - 2014
filtered using EGARCH specifications. The estimation results show that upgrades do not have significant effects on volatility …, but downgrades increase stock and bond market volatility. Contagion is present, with sovereign rating announcements … (increase) in volatility in other countries. The empirical results show also a financial gain and risk (value-at-risk) reduction …
Persistent link: https://www.econbiz.de/10013057674
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Balance of payment crises in emerging markets: how early were the “early” warning signals?
Bussière, Matthieu - 2007
Although many papers have already proposed empirical models of currency crises, the timing of such crises has received relatively little attention so far. Most papers use indeed a static specification and impose the same lag structure across all explanatory variables. This, by construction,...
Persistent link: https://www.econbiz.de/10011604759
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Channels of international risk-sharing: capital gains versus income flows
Bracke, Thierry; Schmitz, Martin - 2008
Global financial integration unlocks a huge potential for international risk sharing. We examine the degree to which international equity holdings act as a risk sharing device in industrial and emerging economies. We split equity returns into investment income (dividend distribution) and capital...
Persistent link: https://www.econbiz.de/10011604984
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Financial exposure and bank mergers: Micro and macro evidence from the EU
Lebastard, Laura - 2022
This paper studies for the first time the links between interbank liability and equity markets (financial exposure), and mergers and acquisitions (M&As) in the European banking sector, both at the micro and macro level. Using a binary logit model, the paper first examines - at the micro level -...
Persistent link: https://www.econbiz.de/10014278552
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America First? A US-centric view of global capital flows
McQuade, Peter; Schmitz, Martin - 2019
Both academic researchers and policymakers posit a unique role for the US in the inter-national financial system. This paper investigates the characteristics and determinants of US cross-border financial flows and examines how these contrast with those of the rest of the world. We analyse the...
Persistent link: https://www.econbiz.de/10012142082
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America First? A US-centric View of Global Capital Flows
McQuade, Peter - 2019
Both academic researchers and policymakers posit a unique role for the US in the inter-national financial system. This paper investigates the characteristics and determinants of US cross-border financial flows and examines how these contrast with those of the rest of the world. We analyse the...
Persistent link: https://www.econbiz.de/10012892830
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Channels of International Risk-Sharing : Capital Gains versus Income Flows
Bracke, Thierry - 2008
Global financial integration unlocks a huge potential for international risk sharing. We examine the degree to which international equity holdings act as a risk sharing device in industrial and emerging economies. We split equity returns into investment income (dividend distribution) and capital...
Persistent link: https://www.econbiz.de/10012770435