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Why the Feldstein-Horioka "puzzle" remains unsolved
Felipe, Jesus; Fullwiler, Scott; Yusoph, Al-Habbyel - 2022
investment rate on the domestic saving rate, the estimated coefficient is significantly larger than what would be expected in a … world characterized by high capital mobility) should have never been labeled as such. First, we show that the investment and … saving series typically used in empirical exercises to test the Feldstein-Horioka thesis are not appropriate for testing …
Persistent link: https://www.econbiz.de/10014322570
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Controlling capital? Legal restrictions and the asset composition of international financial flows
Binici, Mahir; Hutchison, Michael; Schindler, Martin - 2009
Legal restrictions on international capital movements are imposed in many countries in an attempt to (partially) insulate their economies from abroad and pursue some degree of domestic policy independence. But is the imposition of capital controls effective in achieving these goals? We...
Persistent link: https://www.econbiz.de/10010287761
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Capital flows and economic growth in the era of financial integration and crisis: 1990 - 2010
Aizenman, Joshua; Jinjarak, Yothin; Park, Donghyun - 2011
, portfolio investment, equity investment, and shortterm debt. We follow about 100 countries during 1990-2010 when emerging …
Persistent link: https://www.econbiz.de/10010288124
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From the great moderation to the global crisis: Exchange market pressure in the 2000s
Aizenman, Joshua; Lee, Jaewoo; Sushko, Vladyslav - 2010
This paper investigates the factors explaining exchange market pressures (EMP) and the hoarding and use of international reserves (IR) by emerging markets during the 2000s, as the Great Moderation turned to the 2008-9 global crisis and great recession. According to our results, both financial...
Persistent link: https://www.econbiz.de/10010333066
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Capital flows to Emerging Markets: Liberalization, Overshooting, and Volatility
Bacchetta, Philippe; van Wincoop, Eric - 1998
The paper analyses the impact of financial liberalization and reform in emerging markets on the dynamics of capital flows to these markets, using a simple model of international investors' behaviour. We first show that the gradual nature of liberalization, combined with the cost of absorbing...
Persistent link: https://www.econbiz.de/10011430001
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From the great moderation to the global crisis: Exchange market pressure in the 2000s
Aizenman, Joshua; Lee, Jaewoo; Sushko, Vladyslav - 2010
This paper investigates the factors explaining exchange market pressures (EMP) and the hoarding and use of international reserves (IR) by emerging markets during the 2000s, as the Great Moderation turned to the 2008-9 global crisis and great recession. According to our results, both financial...
Persistent link: https://www.econbiz.de/10010287754
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International gross capital flows: A new measure and application to a global panel
Janus, Thorsten; Riera-Crichton, Daniel - 2009
This paper presents a new measure of international gross capital flows and applies it to a global panel from 1970 to 2004. We explain why paying attention to the gross flows underlying net capital flows may be important and how our gross flow measure differs from the standard measure in the...
Persistent link: https://www.econbiz.de/10010287756
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Is the Feldstein-Horioka Puzzle Really a Puzzle?
Levy, Daniel - 2003
-run investment-saving correlation follows directly from the economy’s dynamic budget constraint and this does not depend on the … annual and quarterly post-war U.S. data, I find that investment and saving are cointegrated in levels as well as in rates … degree of international capital mobility. Therefore, unless the budget constraint is violated, the time series of investment …
Persistent link: https://www.econbiz.de/10013204732
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Tracking foreign capital: The effect of capital inflows on bank lending in the UK
Kneer, Christiane; Raabe, Alexander - 2019
This paper examines how UK banks channel capital inflows to the individual sectors of the domestic economy and to overseas residents. Information on the source country of foreign capital deposited with UK banks allows us to construct a novel Bartik instrument for capital inflows. Our results...
Persistent link: https://www.econbiz.de/10012040362
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Capital inflows, sustained investment surges, and the role of external economies of scale in a developing economy
Razmi, Arslan - 2019
equilibria, and different kinds of capital flows may push investment in one direction or the other for sustained periods of time. …
Persistent link: https://www.econbiz.de/10012388907