Narrow search
Showing 1 - 10 of 1,226
Cover Image
The European Union, the Euro, and Equity Market Integration
Bekaert, Geert - 2010
At a time of historic challenges to the viability of the Eurozone, we assess the contribution of the EU and the Euro to … between member countries whether or not members have also adopted the Euro. The Euro adoption as well as the anticipation of … the Euro adoption has minimal effects on market integration …
Persistent link: https://www.econbiz.de/10013135396
Cover Image
Financial Integration, Entrepreneurial Risk and Global Imbalances
Angeletos, George-Marios - 2014
How does financial integration impact capital accumulation, current-account dynamics, and cross-country inequality? We investigate this question within a two-country, general-equilibrium, incomplete-markets model that focuses on the importance of idiosyncratic entrepreneurial risk-- a risk that...
Persistent link: https://www.econbiz.de/10013068649
Cover Image
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/10013160341
Cover Image
Financial Integration, Financial Deepness and Global Imbalances
Mendoza, Enrique G. - 2007
Large and persistent global financial imbalances need not be the harbinger of a world financial crash. Instead, we show that these imbalances can be the outcome of financial integration when countries differ in financial markets deepness. In particular, countries with more advanced financial...
Persistent link: https://www.econbiz.de/10012777647
Cover Image
Financial Integration and Liquidity Crises
Castiglionesi, Fabio - 2017
The paper analyzes the effects of financial integration on the stability of the banking system. Financial integration allows banks in different regions to smooth local liquidity shocks by borrowing and lending on a world interbank market. We show under which conditions financial integration...
Persistent link: https://www.econbiz.de/10012957374
Cover Image
Sterilization, Monetary Policy, and Global Financial Integration
Aizenman, Joshua - 2010
This paper investigates the changing pattern and efficacy of sterilization within emerging market countries as they liberalize markets and integrate with the world economy. We estimate the marginal propensity to sterilize foreign asset accumulation associated with net balance of payments...
Persistent link: https://www.econbiz.de/10012759432
Cover Image
Risk and Global Economic Architecture : Why Full Financial Integration May Be Undesirable
Stiglitz, Joseph E. - 2010
This paper provides a general framework for analyzing the optimal degree and form of financial integration. Full integration is not in general optimal: faced with a choice between two polar regimes, full integration or autarky, autarky may be superior. The intuition is simple: if underlying...
Persistent link: https://www.econbiz.de/10013148101
Cover Image
Globalization and Capital Markets
Obstfeld, Maurice; Taylor, Alan M. - 2021
The ebb and flow of international capital since the nineteenth century illustrates recurring difficulties, as well as the alternative perspectives from which policymakers have tried to confront them. This paper is devoted to documenting these vicissitudes quantitatively and explaining them....
Persistent link: https://www.econbiz.de/10013243924
Cover Image
The Portuguese Slump and Crash and the Euro Crisis
Reis, Ricardo - 2013
Between 2000 and 2012, the Portuguese economy grew less than the United States during the Great Depression and less than Japan during its lost decade. This paper asks why this happened, with a particular focus on the slump between 2000 and 2007. It describes the main facts of Portugal's recent...
Persistent link: https://www.econbiz.de/10013077964
Cover Image
Risk Sharing Through Capital Gains
Balli, Faruk - 2011
countries. Risk sharing from factor income flows is higher for Euro zone countries, at 14 percent, reflecting increased … international asset and liability holdings in the Euro area …
Persistent link: https://www.econbiz.de/10013118134