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Choosing the Currency Structure of Foreign-currency Debt: a Review of Policy Approaches
Melecky, Martin - Volkswirtschaftliche Fakultät, … - 2010
Starting from the constraints and incentives that cause countries to issue debt in foreign currency, this paper provides an overview of policy approaches for choosing the optimal currency structure of sovereign foreign-currency debt. The objective of sovereign debt managers generally includes...
Persistent link: https://www.econbiz.de/10008529277
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Financial liberalization, disaggregated capital flows and banking crisis: Evidence from developing countries
BOUKEF JLASSI, NABILA; HAMDI, HELMI - Volkswirtschaftliche Fakultät, … - 2013
The aim of this paper is to examine whether or not financial liberalization has triggered banking crises in developing countries. We focus in particular on the role of capital inflows as their volatilities threat economic stability. In the empirical model, based on Panel Logit estimation, we use...
Persistent link: https://www.econbiz.de/10011109586
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Finance and Inequality: How Does Globalization Change Their Relationship?
Kunieda, Takuma; Okada, Keisuke; Shibata, Akihisa - Volkswirtschaftliche Fakultät, … - 2011
This research demonstrates that international financial integration changes the way in which financial development affects inequality within a country. Specifically, both the cross-country analysis and the dynamic panel data analysis using data collected from more than 100 countries provide...
Persistent link: https://www.econbiz.de/10009386709
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Financial Openness and Financial Development: An Analysis Using Indices
Ozkok, Zeynep - Volkswirtschaftliche Fakultät, … - 2010
This paper examines the link between financial openness and financial development through panel data analysis on … advanced and emerging market countries. Using indices, financial openness together with institutional and educational variables … different indexing strategies serve in finding better measures for financial openness and financial development in comparison to …
Persistent link: https://www.econbiz.de/10011107291
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The Political Economy of Trade-Financial Liberalization and Financial Underdevelopment: A perspective from China
Morgan, Horatio M. - Volkswirtschaftliche Fakultät, … - 2013
salient feature of even leading emerging or transition economies. In principle, openness to both international trade and …
Persistent link: https://www.econbiz.de/10011108105
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Financial Harmonization and Financial Development: An Application of Europe’s Financial Services Action Plan
Ozkok, Zeynep - Volkswirtschaftliche Fakultät, … - 2013
The Financial Services Action Plan (FSAP) of the European Commission intends to create an open, secure, integrated financial market across EU member countries. Although recent research has shown a positive impact of the FSAP directives on cross-border lending and industrial growth, the effect on...
Persistent link: https://www.econbiz.de/10011108860
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Capital flows and real exchange rate: does financial development matter?
Heng, Dyna - Volkswirtschaftliche Fakultät, … - 2011
Volatile capital flows complicate emerging market economies’ macroeconomic management. This paper demonstrates that financial development helps reduce the impact of non-FDI inflows on real exchange rate appreciation. Using dynamic panel techniques and data from 78 developing economies for the...
Persistent link: https://www.econbiz.de/10011258023
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Does financial development reduce the motivation to hoard foreign reserves?
Heng, Dyna - Volkswirtschaftliche Fakultät, … - 2011
Managing capital flows and liquidity demand have been central issues for emerging market countries. This paper analyzes the effects of financial development and capital flows on foreign reserve accumulation in East Asian economies. Using annual data from 12 Asian economies between 1980 and 2009,...
Persistent link: https://www.econbiz.de/10011258242
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FDI, local Financial Markets, Employment and poverty alleviation
Abdelaal Mahmoud, Ashraf - Volkswirtschaftliche Fakultät, … - 2010
This paper examines the indirect linkages among foreign direct investment (henceforth, FDI) and poverty reduction, where so far there are few studies attempted to analyze empirically these linkages. Yet I have a question: do we believe that FDI inflows are able to contribute to higher growth and...
Persistent link: https://www.econbiz.de/10009004816
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FDI, local Financial Markets, employment and poverty alleviation
Abdel Aal Mahmoud, Ashraf - Volkswirtschaftliche Fakultät, … - 2010
This paper examines the precise links between foreign direct investment (henceforth, FDI) and poverty alleviation, where so far there are few studies attempted to analyze empirically this relationship. The FDI inflows vary across international borders, therefore FDI reduces poverty only under...
Persistent link: https://www.econbiz.de/10008557261