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Does Openness to International Financial Flows Raise Productivity Growth?

Prasad, Eswar - 2008

This paper provides a comprehensive analysis of the relationship between financial openness and total factor productivity (TFP) growth using an extensive dataset that includes various measures of productivity and financial openness for a large sample of countries. We find that de jure capital...

Persistent link: https://www.econbiz.de/10012677369

Do Some Forms of Financial Flows Help Protect from Sudden Stops?.

Levchenko, Andrei A - 2006

Intro -- Contents -- I. INTRODUCTION -- II. BEHAVIOR OF DIFFERENT TYPES OF FINANCIAL FLOWS -- III. BEHAVIOR DURING SUDDEN STOPS IN FINANCIAL FLOWS -- IV. CONCLUSIONS AND POSSIBLE EXTENSIONS -- REFERENCES.

Persistent link: https://www.econbiz.de/10012691174

International Currency Portfolios

Kumhof, Michael - 2009

This paper develops a theory of international currency portfolios that holds in general equilibrium, and that is therefore not subject to the criticisms directed at the portfolio balance literature of the 1980s. It shows that, under plausible assumptions about fiscal policy, the relationship...

Persistent link: https://www.econbiz.de/10012677715

The Composition Matters; Capital Inflows and Liquidity Crunch During a Global Economic Crisis

Tong, Hui; Wei, Shang-Jin - International Monetary Fund (IMF) - 2009

We study whether capital flows affect the degree of credit crunch faced by a country's manufacturing firms during the 2007-09 crisis. Examining 3823 firms in 24 emerging countries, we find that the decline in stock prices was more severe for firms that are intrinsically more dependent on...

Persistent link: https://www.econbiz.de/10008528680

The spillover effects of a downturn in China’s real estate investment

Ahuja, Ashvin; Myrvoda, Alla - 2012

estate investment in China though a low-probability event would be sizable, with large spillovers to a number of China …Real estate investment accounts for a quarter of total fixed asset investment (FAI) in China. The real estate sector … and the rest of the G20 economies, we find that a 1-percent decline in China's real estate investment would shave about 0 …

Persistent link: https://www.econbiz.de/10009679024

D Spillovers and Institutions.

Coe, David T. - 2008

Intro -- Contents -- I. INTRODUCTION -- II. DATA -- III. ECONOMETRIC PRELIMINARIES -- IV. "INTERNATIONAL R&D SPILLOVERS …" REVISITED -- V. INSTITUTIONS AND INTERNATIONAL R&D SPILLOVERS -- VI. CONCLUSIONS -- APPENDIX A: ALTERNATIVE SPECIFICATION …

Persistent link: https://www.econbiz.de/10012682177

The Transmission of Financial Stress From Advanced to Emerging Economies

Danninger, Stephan; Tytell, Irina; Balakrishnan, Ravi; … - International Monetary Fund (IMF) - 2009

This paper studies how financial stress is transmitted from advanced to emerging economies, using a new financial stress index for emerging economies. An episode of financial stress is defined as a period when the financial system's ability to intermediate may be impaired. Previous financial...

Persistent link: https://www.econbiz.de/10008528685

Spillovers from United States Monetary Policy on Emerging Markets: Different This Time?

Chen, Jiaqian; Griffoli, Tommaso Mancini; Sahay, Ratna - International Monetary Fund (IMF) - 2014

debated in global and national policy circles. When the U.S. resorted to unconventional monetary policy, spillovers on asset …-term bond yields. Instead, we find that larger spillovers stem more from structural factors, such as the use of new instruments …

Persistent link: https://www.econbiz.de/10011123869

Monetary Policy Coordination and the Role of Central Banks

Mohan, Rakesh; Kapur, Muneesh - International Monetary Fund (IMF) - 2014

acknowledge and appreciate the spillovers resulting from such UMPs. Central banks of the AEs, who have set up standing mutual swap …

Persistent link: https://www.econbiz.de/10010790334

India's Financial Globalisation

Patnaik, Ila; Shah, Ajay - International Monetary Fund (IMF) - 2011

India embarked on reintegration with the world economy in the early 1990s. At first, a certain limited opening took place emphasising equity flows by certain kinds of foreign investors. This opening has had myriad interesting implications in terms of both microeconomics and macroeconomics. A...

Persistent link: https://www.econbiz.de/10008839328