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Persistent link: https://www.econbiz.de/10009424398
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This paper assesses whether cross-border M and A decisions exhibit network effects. We estimate exponential random graph models (ERGM) and temporal exponential random graph models (TERGM) to evaluate the determinants of cross-country M and A investments at the sectoral level. The results show...
Persistent link: https://www.econbiz.de/10012154966
This paper proposes a model of contagious currency crises: crises transmit across countries by raising the risk premium on government bonds. Three types of equilibria can occur: a “no-collapse” equilibrium (crises never transmit from abroad); a “collapse” equilibrium (crises are...
Persistent link: https://www.econbiz.de/10014400297
-not (necessarily) as a source of development finance). The case for such taxes is strong: the tax burden on international aviation is …
Persistent link: https://www.econbiz.de/10014400375
The paper surveys the characteristics of explicit systems of deposit insurance in 68 countries. It compares these actual practices with a set of best practices that has been adopted by IMF staff for their advice to member countries. These best practices seek to establish a system of deposit...
Persistent link: https://www.econbiz.de/10014400419
The paper''s central theme is that where a financial crisis emerges, regional supervisors should have systems in place to effectively respond to their country-specific crises and-in the case of foreign operations and financial conglomerates-to collaborate comprehensively with other supervisory...
Persistent link: https://www.econbiz.de/10014400736
This paper considers how an international lender of last resort (LOLR) can prevent self-fulfilling banking and currency … crises in emerging economies. We compare two different arrangements: one in which the international LOLR injects liquidity … into international financial markets, and one in which its resources are used to back domestic banking safety nets. Both …
Persistent link: https://www.econbiz.de/10014403614
We analyze capital flows to emerging markets in a framework that incorporates two quantitative measures of financial integration, the intensity of capital controls and the extent of cross border listings, while controlling for traditional global (push) and country specific (pull) factors. Two...
Persistent link: https://www.econbiz.de/10014403972
(motivated by the opportunity to pay no tax at all on transactions with international aspects). Assessment of the severity of the …
Persistent link: https://www.econbiz.de/10014401622