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This paper examines the impact of international financial integration on macroeconomic volatility in a large group of industrial and developing economies over the period 1960-99. We report two major results: First, while the volatility of output growth has, on average, declined in the 1990s...
Persistent link: https://www.econbiz.de/10013212317
The US economy is often referred to as the “banker to the world,” due to its unique role in supplying global reserve …
Persistent link: https://www.econbiz.de/10013306735
We explore the global footprint of Chinese banks and compare it with that of other bank nationalities. Chinese banks … banks, and Chinese banks in particular, grant a substantial share of their cross-border loans from affiliates located abroad … Chinese banks, however, distance deters lending to EMDEs less than for peer EMDE banks. We show that for all banks combined …
Persistent link: https://www.econbiz.de/10013252034
This study quantifies the importance of a Global Financial Cycle (GFCy) for capital flows. We use capital flow data dis-aggregated by direction and type between 1990Q1 and 2015Q5 for 85 countries, and conventional techniques, models and metrics. Since the GFCy is an unobservable concept, we use...
Persistent link: https://www.econbiz.de/10012927465
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
This paper presents estimates of the carbon emissions of FDI from capital formation funded by FDI and the production of foreign-controlled firms. The carbon intensity of capital formation financed by FDI has trended down, driven by reductions in the carbon intensity of electricity generation....
Persistent link: https://www.econbiz.de/10014083503
This study examines the determinants of entry into by foreign firms, using information on 515 Chinese industries at the … entry matters more than access to the rest of China, which is consistent with market fragmentation due to underdeveloped …
Persistent link: https://www.econbiz.de/10013318068
. Moreover, China’s rising overseas investment can be linked to the rebalancing of Chinese economy, and LAC stands to benefit … from its complementarity vis-à-vis China in sectors where the rising Chinese overseas investment can be met with LAC’s own …Over the last decade China’s investment in Latin America and the Caribbean (LAC) has increased substantially in volume …
Persistent link: https://www.econbiz.de/10013305601
Holding foreign assets reduces the volatility of a country's income by allowing countries to share risk. Yet, financial integration is limited in Asia. This paper estimates how much Australia and other countries in the Asia-Pacific region would gain from greater financial integration. The...
Persistent link: https://www.econbiz.de/10012777956
front than Latin America and other parts of the world. The contrast with Latin America is largely explained by stronger …
Persistent link: https://www.econbiz.de/10012778205