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Financial Globalization and the Governance of Domestic Financial Intermediaries
Tressel, Thierry - 2007
We model an economy in which domestic banks and firms face incentive constraints, as in Holmstrom and Tirole (1997). Firms borrow from banks and uninformed investors, and can collude with banks to reduce the intensity of monitoring. We study the general equilibrium effects of capital flows...
Persistent link: https://www.econbiz.de/10014400135
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A Global Perspectiveon External Positions
Milesi-Ferretti, Gian-Maria - 2005
This paper highlights the increased dispersion in net external positions in recent years, particularly among industrial countries. It provides a simple accounting framework that disentangles the factors driving the accumulation of external assets and liabilities (such as trade imbalances,...
Persistent link: https://www.econbiz.de/10014404202
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Foreign investors under stress : evidence from India
Patnaik, Ila; Shah, Ajay; Singh, Nirvikar - 2013
Persistent link: https://www.econbiz.de/10009756797
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Foreign Investors Under Stress : Evidence from India
Patnaik, Ila - 2013
Emerging market policy makers have been concerned about the financial stability implications of financial globalization … focused on tail events, which yields evidence on these questions. The results, for India, do not suggest that financial … globalization has induced instability on the equity market …
Persistent link: https://www.econbiz.de/10014395180
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Challenges to Monetary Policy From Financial Globalization : The Case of India
Prasad, A. - 2008
The question of how India should adapt monetary policy to ongoing financial globalization has gained prominence with … countries that have adapted to financial globalization, drawing lessons for India. While we find no strong relationship between … the recent surge in capital inflows. This paper documents the degree to which India has become financially globalized …
Persistent link: https://www.econbiz.de/10014401391
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NAFTA to USMCA : what is gained?
Burfisher, Mary E.; Lambert, Frederic; Matheson, Troy - 2019
The United States - Mexico - Canada Agreement (USMCA) was signed on November 30, 2018 and aims to replace and modernize the North-American Free Trade Agreement (NAFTA). This paper uses a global, multisector, computable-general-equilibrium model to provide an analytical assessment of five key...
Persistent link: https://www.econbiz.de/10012009997
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Bilateral Financial Linkages and Global Imbalances : A Viewon the Eve of the Financial Crisis
Milesi-Ferretti, Gian-Maria - 2010
We present a novel and comprehensive dataset of bilateral gross and net external positions in various financial instruments for the main advanced and emerging economies and regions, designed to improve our understanding of cross-border financial linkages. The data show no strong correspondence...
Persistent link: https://www.econbiz.de/10014402655
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International Financial Integration, Sovereignty, and Constraintson Macroeconomic Policies
Kletzer, Kenneth - 2006
This paper considers the consequences of international financial market integration for national fiscal and monetary policies that derive from the absence of an international sovereign authority to define and enforce contractual obligations across borders. The sovereign immunity of national...
Persistent link: https://www.econbiz.de/10014401979
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Apocalypse then : The Evolution of the North Atlantic Economy and the Global Crisis
Bui, Trung - 2011
The financial crisis, originated from the collapse of US housing markets in 2008, reverberates around the world. Its destructive force was felt nowhere more keenly than Western Europe. Indeed, it continues to mire in financial volatility as the debt problem contagiously spreads around the...
Persistent link: https://www.econbiz.de/10014398383
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Regional Trade Integration and WTO Accession : Which is the Right Sequencing? An Application to the Cis
Tumbarello, Patrizia - 2005
This paper analyzes the appropriate sequencing between accession to the World Trade Organization (WTO) and the implementation of the Eurasian Economic Community (EAEC) customs union and whether the latter facilitates or delays WTO accession for some member countries of the Commonwealth of...
Persistent link: https://www.econbiz.de/10014400926