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IMF Programs and Financial Flows to Offshore Centers
Aiyar, Shekhar S.; Patnam, Manasa - 2022
This paper examines whether IMF lending is associated with increases in outflows to offshore financial centers (OFCs), known for bank secrecy and asset protection, relative to other international destinations. Using quarterly data from the BIS on bilateral bank deposits, we are unable to detect...
Persistent link: https://www.econbiz.de/10013300841
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Dirty Dance : Tourism and Environment
Cevik, Serhan - 2022
Tourism was one of the fastest-growing sectors before the COVID-19 pandemic, accounting for about 10 percent of global GDP. But it has also created a number of challenges including environmental degradation, especially in small island countries where the carbon footprint of tourism constitute...
Persistent link: https://www.econbiz.de/10014076818
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Global Value Chains and Productivity : Micro Evidence from Estonia
Banh, Hang - 2020
The COVID-19 pandemic has led to an unprecedented collapse in global economic activity and trade. The crisis has also highlighted the role played by global value chains (GVC), with countries facing shortages of components vital to everything from health systems to everyday household goods....
Persistent link: https://www.econbiz.de/10012827584
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Fear of Service Outsourcing : Is it Justified?
Amiti, Mary - 2011
The recent media and political attention on service outsourcing from developed to developing countries gives the … impression that outsourcing is exploding. As a result, workers in industrial countries are anxious about job losses. This paper … aims to establish what are the hypes and what are the facts. The results show that although service outsourcing has been …
Persistent link: https://www.econbiz.de/10012757114
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Production Offshoring and Investment by Japanese Firms
Kang, Joong Shik - 2015
operating mainly in domestic markets. On the back of a trend increase in production offshoring, investment by large companies …
Persistent link: https://www.econbiz.de/10013015601
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Offshore Currency Markets : Non-Deliverable Forwards (NDFs) in Asia
Schmittmann, Jochen; Teng, Chua Han - 2021
Non-deliverable forward (NDF) markets in many Asian emerging market currencies are large, rapidly growing, and often exceed onshore markets in transaction volume. NDFs tend to price significant depreciation during market stress episodes including COVID-19. Spillovers from NDFs to onshore markets...
Persistent link: https://www.econbiz.de/10013315112
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Technological Changes, Offshoring, and the Labor Share
Lian, Weicheng - 2019
Existing studies on the downward trend in the labor share of income mostly focus on changeswithin individual countries. I document, however, that half of the global decline in the laborshare of income can be traced to the relocation of activities between countries. I develop atwo-country model...
Persistent link: https://www.econbiz.de/10012864118
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Welfare vs. Income Convergence and Environmental Externalities
Bannister, Geoffrey J. - 2018
We present estimates of welfare by country for 2007 and 2014 using the methodology of Jones and Klenow (2016) which incorporates consumption, leisure, mortality and in equality, and we extend the methodology to include environmental externalities. During the period of the global financial crisis...
Persistent link: https://www.econbiz.de/10012929937
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What Caused the Global Financial Crisis? Evidence on the Drivers of Financial Imbalances 1999-2007
Nier, Erlend W. - 2011
This paper investigates empirically the drivers of financial imbalances ahead of the global financial crisis. Three factors may have contributed to the build-up of financial imbalances: (i) rising global imbalances (capital flows), (ii) monetary policy that might have been too loose, (iii)...
Persistent link: https://www.econbiz.de/10013131803
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Foreign Banks : Trends, Impact and Financial Stability
Claessens, Stijn - 2012
This paper introduces a comprehensive database on bank ownership for 137 countries over 1995-2009, and reviews foreign bank behavior and impact. It documents substantial increases in foreign bank presence, with many more home and host countries. Current market shares of foreign banks average 20...
Persistent link: https://www.econbiz.de/10013116464