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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 …

Persistent link: https://www.econbiz.de/10012463732

Crises and Sudden Stops : Evidence from International Bond and Syndicated-Loan Markets

Kaminsky, Graciela L. - 2008

The crises in Mexico, Thailand, and Russia in the 1990s spread quite rapidly to countries as far apart as South Africa and Pakistan. In the aftermath of these crises, many emerging economies lost access to international capital markets. Using data on international primary issuance, this paper...

Persistent link: https://www.econbiz.de/10012464398

Precautionary Demand for Foreign Assets in Sudden Stop Economies : An Assessment of the New Merchantilism

Durdu, Ceyhun Bora - 2007

Financial globalization was off to a rocky start in emerging economies hit by Sudden Stops since the mid 1990s. Foreign … saving affects foreign assets via three mechanisms: business cycle volatility, financial globalization, and Sudden Stop risk … Irving Fisher's debt-deflation mechanism. Our results show that financial globalization and Sudden Stop risk are plausible …

Persistent link: https://www.econbiz.de/10012465531

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 … perspective on the macroeconomic effects of financial globalization, both in terms of growth and volatility. Overall, our critical … benefit from financial globalization, but with many nuances. On the other hand, there is little systematic evidence to support …

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

Financial Globalization, Governance, and the Evolution of the Home Bias

Kho, Bong-Chan - 2006

Despite the disappearance of formal barriers to international investment across countries, we find that the average home bias of U.S. investors towards the 46 countries with the largest equity markets did not fall from 1994 to 2004 when countries are equally weighted but fell when countries are...

Persistent link: https://www.econbiz.de/10012466276

Monetary Policy in a Changing International Environment : The Role of Global Capital Flows

Feldstein, Martin - 2005

More recently, Alan Greenspan and John Helliwell have shown that the link between domestic saving and domestic investment became substantially weaker after the mid-1990s. The research reported in the current paper suggests that this is true of the smaller OECD countries but not of the larger...

Persistent link: https://www.econbiz.de/10012466816

Internationalization and the Evolution of Corporate Valuation

Levine, Ross - 2005

By documenting the evolution of Tobin's "q" before, during, and after firms internationalize, this paper provides evidence on the bonding, segmentation, and market timing theories of internationalization. Using new data on 9,096 firms across 74 countries over the period 1989-2000, we find that...

Persistent link: https://www.econbiz.de/10012467664

Migration, Spillovers,and Trade Diversion : The Impact of Internationalization on Stock Market Liquidity

Levine, Ross - 2003

What is the impact of firms that cross-list, issue depositary receipts, or raise capital in international stock markets on the liquidity of remaining firms in domestic markets? Using a panel of over 3,200 firms from 55 countries during 1989-2000, we find that internationalization reduces the...

Persistent link: https://www.econbiz.de/10012469086

Financial Globalization and Real Regionalization

Heathcote, Jonathan - 2002

countries rose from 4 to 23 percent of the U.S. capital stock (financial globalization). We document that the correlation of … real shocks between the U.S. and the rest of the world has declined. We then present a model in which international …

Persistent link: https://www.econbiz.de/10012469415

Globalization and Capital Markets

Obstfeld, Maurice - 2002

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/10012469869