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Over the last two decades, the unprecedented increase in non-bank financial intermediation, particularly open-end mutual funds and ETFs, accounts for nearly half of the external financing flows to emerging markets exceeding cross-border lending by global banks. Evidence suggests that investment...
Persistent link: https://www.econbiz.de/10014250161
This paper defines risk-on risk-off (RORO), an elusive terminology in pervasive use, as the variation in global investor risk aversion. Our high-frequency RORO index captures time-varying investor risk appetite across multiple dimensions: advanced economy credit risk, equity market volatility,...
Persistent link: https://www.econbiz.de/10014437038
tuberculosis drug samples that claim to be made in India and were sold in Africa, India, and five mid-income non-African countries …-existent, under-developed or emerging regulatory oversight, notably Africa. This paper assesses the quality of 1470 antibiotic and … distribution of these substandard products is not random: they are more likely to be found as unregistered products in Africa than …
Persistent link: https://www.econbiz.de/10012458199
We investigate the determinants of emerging markets performance during five U.S. Federal Reserve monetary tightening and easing cycles during 2004-2023. We study how macroeconomic and institutional conditions of an Emerging Market (EM) at the beginning of a cycle explain EM resilience during...
Persistent link: https://www.econbiz.de/10014528343
We construct a dynamic general equilibrium model of foreign direct investment (FDI) and foreign technology adoption, incorporating adoption barriers, international technology spillover, and relative price advantages. A higher FDI conversion efficacy, a lower adoption barrier, or a stronger...
Persistent link: https://www.econbiz.de/10014250176
experience. In contrast to the East Asian experience, none of the recent growth accelerations in Latin America, Africa, or South … rapid within-sector labor productivity growth (Latin America) or growth-increasing structural change (Africa), but rarely … explain this anomaly by arguing that the forces that promoted structural change in Africa originated on the demand side …
Persistent link: https://www.econbiz.de/10012455549
. India has the largest proportion of missing adult women who are without a husband, followed by the countries in East Africa …
Persistent link: https://www.econbiz.de/10012457157
We provide an analysis of real economic growth prospects in emerging markets after financial liberalizations. In contrast with previous research, we identify the financial liberalization dates and examine the influence of liberalizations while controlling for a number of other macroeconomic and...
Persistent link: https://www.econbiz.de/10012470987
This paper employs a novel multi-country dataset of corporate defaults to develop a model of distress risk specific to emerging markets. The data suggest that global financial variables such as US interest rates and shifts in global liquidity and risk aversion have significant predictive power...
Persistent link: https://www.econbiz.de/10012481796
What is the impact of internationalization (firms raising capital and trading in international markets) on the liquidity of the remaining firms in domestic markets? To address this question, we assemble a panel database of nearly 2,900 firms from 45 emerging economies over the period 1989-2000,...
Persistent link: https://www.econbiz.de/10012466777