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Does Openness to International Financial Flows Contribute to Productivity Growth?
Kose, M. Ayhan; Prasad, Eswar S.; Terrones, Marco E. - 2021
Economic theory has identified a number of channels through which openness to international financial flows could raise productivity growth. However, while there is a vast empirical literature analyzing the impact of financial openness on output growth, far less attention has been paid to its...
Persistent link: https://www.econbiz.de/10013325040
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Global Macro-Financial Cycles and Spillovers
Ha, Jongrim - 2020
We develop a new dynamic factor model that allows us to jointly characterize global macroeconomic and financial cycles and the spillovers between them. The model decomposes macroeconomic cycles into the part driven by global and country-specific macro factors and the part driven by spillovers...
Persistent link: https://www.econbiz.de/10012840446
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Demography, Capital Flows and Unemployment
Marchiori, Luca - 2011
This paper contributes to the already vast literature on demography-induced international capital flows by examining the role of labor market imperfections and institutions. We setup a two-country overlapping generations model with search unemployment, which we calibrate on EU15 and US data....
Persistent link: https://www.econbiz.de/10013118521
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Migration, International Trade and Capital Formation : Cause or Effect?
Felbermayr, Gabriel J. - 2012
In this paper, we provide an overview of the relationship between international migration and international trade as well as capital movements. After taking a brief historical perspective, we first investigate migration flows between two countries in a static, neoclassical context. We allow for...
Persistent link: https://www.econbiz.de/10013098128
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The (Hidden) Financial Flows of Terrorist and Organized Crime Organizations : A Literature Review and Some Preliminary Empirical Results
Schneider, Friedrich - 2010
The financial means of international terror and organized crime organizations are analysed. First, some short remarks about the organization of international terror organizations are made. Second and in a much more detailed way a literature review is provided about the financing of terrorist and...
Persistent link: https://www.econbiz.de/10013145188
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Capital Account Policies, IMF Programs and Growth in Developing Regions
Bicaba, Zorobabel - 2015
This paper develops an adaptive learning model under uncertainty that examines evolution of capital account polices over time and across developing regions. In the framework, countries' past experiences and IMF programs influence policymakers' beliefs about the impact of capital account...
Persistent link: https://www.econbiz.de/10013029623
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Financial Crises and Liberalization : Progress or Reversals?
Saka, Orkun - 2019
Financial crisis can trigger policy reversals, i.e. they can lead to a process of re- regulation of financial markets. Using a recent comprehensive dataset on financial liberalization across 94 countries for the period between 1973 and 2015, we formally test the validity of this prediction for...
Persistent link: https://www.econbiz.de/10012868012
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Role Reversal in Global Finance
Prasad, Eswar S. - 2011
I document that emerging markets have cast off their "original sin" – their external liabilities are no longer dominated by foreign-currency debt and have instead shifted sharply towards direct investment and portfolio equity. Their external assets are increasingly concentrated in foreign...
Persistent link: https://www.econbiz.de/10013119287
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Thresholds in the Process of International Financial Integration
Kose, M. Ayhan - 2009
The financial crisis has re-ignited the fierce debate about the merits of financial globalization and its implications for growth, especially for developing countries. The empirical literature has not been able to conclusively establish the presumed growth benefits of financial integration....
Persistent link: https://www.econbiz.de/10013160313
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Help in a Foreign Land : Internationalized Banks and Firms' Export
Brancati, Emanuele - 2022
’s domestic bank by an internationalized banking group. Our results show that, after the acquisition, firms have a significantly … higher probability of starting export in countries where the consolidated bank has a foreign branch, which proxies for the … mainly reduce firms’ fixed entry costs in a foreign market. The analysis also shows that other channels, such as bank credit …
Persistent link: https://www.econbiz.de/10013403718