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We examine the empirical role of different explanations for the lack of flows of capital from rich to poor countries the "Lucas Paradox." The theoretical explanations include differences in fundamentals across countries and capital market imperfections. We show that during 1970-2000 low...
Persistent link: https://www.econbiz.de/10012466770
We construct measures of net private and public capital flows for a large cross-section of developing countries considering both creditor and debtor side of the international debt transactions. Using these measures, we demonstrate that sovereign-to-sovereign transactions account for upstream...
Persistent link: https://www.econbiz.de/10012461262
markets, this result is robust to the inclusion of the world beta and the degree of international spanning of the domestic …
Persistent link: https://www.econbiz.de/10012474361
The recent financial crisis has shown how interconnected the financial world has become. Shocks in one location or … asset class can have a sizable impact on the stability of institutions and markets around the world. But systemic risk …
Persistent link: https://www.econbiz.de/10012460129
between integration and synchronization depends on the type of shocks hitting the world economy, and that shocks to global …
Persistent link: https://www.econbiz.de/10012460452