Showing 1 - 10 of 964
The energy transition requires substantial amounts of metals such as copper, nickel, cobalt and lithium. Are these …
Persistent link: https://www.econbiz.de/10013306742
Motivated by the tension first revealed during the global financial crisis between thedomestic and international financial stability obligations of central bank reserve managers,this paper offers some reflections along four main lines. First, the paper highlights howofficial reserve management...
Persistent link: https://www.econbiz.de/10012924272
We examine the composition and drivers of cross-border bank lending between 1995 and 2012, distinguishing between syndicated and non-syndicated loans. We show that on-balance sheet syndicated loan exposures account for almost one third of total cross-border loan exposures during this period....
Persistent link: https://www.econbiz.de/10013021784
This paper investigates the impact of infectious diseases on the evolution of sovereign credit default swap (CDS) spreads for a panel of 77 advanced and developing countries. Using annual data over the 2004-2020 period, we find that infectious-disease outbreaks have no discernible effect on CDS...
Persistent link: https://www.econbiz.de/10013250064
The global financial system has shown remarkable resilience during the COVID-19 pandemic, despite a sharp decline in economic activity and the initial financial market upheaval in March 2020. This paper takes stock of the factors that contributed to this resilience, focusing on the role of...
Persistent link: https://www.econbiz.de/10014258592
After moving slowly downward for the better part of four decades, central bank gold holdings have risen since the … Global Financial Crisis. We identify 14 “active diversifiers,” defined as countries that purchased gold and raised its share … diversifiers into gold are exclusively emerging markets. We document two sets of factors contributing to this trend. First, gold …
Persistent link: https://www.econbiz.de/10014257753
This paper (i) provides evidence on the procyclical investment behavior of major institutional investors during the global financial crisis; (ii) identifies the main factors that could account for such behavior; (iii) discusses the implications of procyclical behavior; and (iv) proposes a...
Persistent link: https://www.econbiz.de/10013074694
Stock markets play a key role in corporate financing in Asia. However, despite their increasing importance in terms of size and cross-border investment activity, the region's markets are reputed to be more “idiosyncratic” and less reliant on economic and corporate fundamentals in their...
Persistent link: https://www.econbiz.de/10013056805
Experience from the global financial crisis suggests that countries' borrowing costs are not solely determined by macro and fiscal fundamentals. Factors such as ownership structures of government securities, among others, also play a significant role. This paper investigates the effect of...
Persistent link: https://www.econbiz.de/10013060546
This paper provides an overview of sovereign debt portfolio risks and discusses various liability management operations (LMOs) and instruments used by public debt managers to mitigate these risks. Debt management strategies analyzed in the context of helping reach debt portfolio targets and...
Persistent link: https://www.econbiz.de/10012918566