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What is Real and What is Not in the Global FDI Network?
Damgaard, Jannick - 2020
Macro statistics on foreign direct investment (FDI) are blurred by offshore centers withenormous inward and outward investment positions. This paper uses several new datasources, both macro and micro, to estimate the global FDI network while disentangling realinvestment and phantom investment...
Persistent link: https://www.econbiz.de/10012843512
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Globalization and the New Normal
Candelon, Bertrand - 2018
to be determined by globalization. Relying on a non-linear dynamic panelrepresentation, it reconciles the earlier results … in the literature regarding the two oppositenarratives of the effects of globalization on output growth. Countries … growth following a financial crisis. The benefits, as well asvulnerabilities, accrue earlier in the globalization process for …
Persistent link: https://www.econbiz.de/10012918567
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Can Countries Manage Their Financial Conditions Amid Globalization?
Arregui, Nicolas - 2018
This paper examines the evolving importance of common global components underlying domestic financial conditions. It develops financial conditions indices (FCIs) that make it possible to compare a large set of advanced and emerging market economies. It finds that a common component, 'global...
Persistent link: https://www.econbiz.de/10012927458
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The Global FDI Network : Searching for Ultimate Investors
Damgaard, Jannick - 2018
This paper addresses three types of geographical decoupling in foreign direct investment (FDI), i.e., challenges when using traditional FDI data as a proxy for real economic integration between economies: (i) large bilateral asymmetries between inward and outward FDI, (ii) the role of special...
Persistent link: https://www.econbiz.de/10012929953
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The Systemic Impact of Debt Default in a Multilayered Global Network Model
Porter, Nathan; Tovar, Camilo E.; Treviño, Juan; … - 2022
The world has become more interconnected over the past few decades. Against this backdrop, economic and financial contagion following adverse shocks can have a severe impact on the global economy. How systemic can the effects of contagion be? What specific transmission channels are involved?...
Persistent link: https://www.econbiz.de/10013491953
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Anticipating Credit Events Using Credit Default Swaps, with an Application to Sovereign Debt Crises
Chan-Lau, Jorge A. - 2006
In reduced-form pricing models, it is usual to assume a fixed recovery rate to obtain the probability of default from credit default swap prices. An alternative credit risk measure is proposed here: the maximum recovery rate compatible with observed prices. The analysis of the recent debt crisis...
Persistent link: https://www.econbiz.de/10012735561
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Defining Financial Stability
Schinasi, Garry J. - 2006
The main objective of this paper is to propose a definition of financial stability that has some practical and operational relevance. Financial stability is defined in terms of its ability to facilitate and enhance economic processes, manage risks, and absorb shocks. Moreover, financial...
Persistent link: https://www.econbiz.de/10012783097
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Exploring the Dynamics of Global Liquidity
Chen, Sally - 2012
This paper explores the concept of global liquidity, its measurement and macro-financial importance. We construct two sets of indicators for global liquidity: a quantity series distinguishing between core and noncore liabilities of financial intermediatires and a corresponding price series....
Persistent link: https://www.econbiz.de/10013098562
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The Endogenous Skill Bias of Technical Change and Inequality in Developing Countries
Behar, Alberto - 2013
This paper draws on existing empirical literature and an original theoretical model to argue that globalization and …
Persistent link: https://www.econbiz.de/10013085139
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Regionalization vs. Globalization
Hirata, Hideaki - 2013
declined over the same period. In short, the recent era of globalization has witnessed the emergence of regional business …
Persistent link: https://www.econbiz.de/10013086323