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Economic theory predicts that the integration of financial markets lowers the volatility of consumption. In this paper, we study long-term trends in the consumption volatility of the G7 countries. Using different measures of financial openness, we find some evidence that greater financial...
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relations between six important world markets - U.S., U.K., Germany, Japan, China and India from January 2000 until December … maxima at times of global world events (2001: 9/11-attacks, 2003: Iraq war, SARS, etc). The Japanese market switches … provides a way to quantify the evolvement of interdependencies in the global market, to evaluate a world financial network and …
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multilateral institutions like the IMF and World Bank are senior creditors. …
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Germany is world champion in exporting capital ("Exportweltmeister"). No other country invests larger amounts of …
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Governments often issue bonds in foreign jurisdictions, which can provide additional legal protection vis-à-vis domestic bonds. This paper studies the effect of this jurisdiction choice on bond prices. We test whether foreign-law bonds trade at a premium compared to domestic-law bonds. We use...
Persistent link: https://www.econbiz.de/10011880111
Information costs and regulatory barriers are the main distinguishing features of international financial markets as compared to national financial markets. This paper presents a simple model of the impact of these factors on banks' cross-border activities and provides empirical evidence. Our...
Persistent link: https://www.econbiz.de/10011473701
There is a startling gap between, allegedly, globalization-induced changes in international competition for foreign … its relevance well before globalization became a hotly debated issue. …
Persistent link: https://www.econbiz.de/10011490677