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Capital Account Liberalization, Financial Depth and Economic Growth

Klein, Michael W. - 1999

We show a statistically significant and economically relevant effect of open capital accounts on financial deepness and economic growth in a cross-section of countries over the period 1986 to 1995. Countries with open capital accounts over some or all of this period had a significantly greater...

Persistent link: https://www.econbiz.de/10012471401

Does Openness to International Financial Flows Raise Productivity Growth?

Kose, M. Ayhan - 2008

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/10012464090

Global Business Cycles : Convergence or Decoupling?

Kose, M. Ayhan - 2008

This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups -- industrial countries, emerging markets, and other developing economies. Using a dynamic factor model, we then decompose...

Persistent link: https://www.econbiz.de/10012464278

Financial Globalization : A Reappraisal

Kose, M. Ayhan - 2006

The literature on the benefits and costs of financial globalization for developing countries has exploded in recent years, but along many disparate channels with a variety of apparently conflicting results. We attempt to provide a unified conceptual framework for organizing this vast and growing...

Persistent link: https://www.econbiz.de/10012466181

Capital Account Openness and the Varieties of Growth Experience

Klein, Michael W. - 2003

The effects of capital account openness on economic growth may vary across countries. Some countries may not have in place the constellation of institutions required to fully benefit from open capital accounts. Other countries may realize only small marginal improvements in the wake of capital...

Persistent link: https://www.econbiz.de/10012469202

World Shocks, World Prices, and Business Cycles : An Empirical Investigation

Fernández, Andrés - 2016

intratemporal relative price such as the terms of trade and possibly an intertemporal price such as the world interest rate. This … paper presents an empirical framework in which multiple commodity prices and the world interest rate transmit world … disturbances. Estimates on a panel of 138 countries over the period 1960-2015 indicate that world shocks explain on average 33 …

Persistent link: https://www.econbiz.de/10012455847

Global Cycles : Capital Flows, Commodities, and Sovereign Defaults, 1815-2015

Reinhart, Carmen M. - 2016

Capital flow and commodity cycles have long been connected with economic crises. Sparse historical data, however, has made it difficult to connect their timing. We date turning points in global capital flows and commodity prices across two centuries and provide estimates from alternative data...

Persistent link: https://www.econbiz.de/10012456715

Capital Control Measures : A New Dataset

Fernández, Andrés - 2015

We present and describe a new dataset of capital control restrictions on both inflows and outflows of ten categories of assets for 100 countries over the period 1995 to 2013. Building on the data first presented in Martin Schindler (2009), and other datasets based on the analysis of the IMF's...

Persistent link: https://www.econbiz.de/10012457696

Political Booms, Financial Crises

Herrera, Helios - 2014

We show that political booms, measured by the rise in governments' popularity, predict financial crises above and beyond other better-known early warning indicators, such as credit booms. This predictive power, however, only holds in emerging economies. We show that governments in emerging...

Persistent link: https://www.econbiz.de/10012458321