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Developing India's offshore local currency bond market : lessons from emerging countries
Kohli, Renu; Sahoo, Pravakar; Shuheb Khan, M. - 2017
After the 2008 financial crisis, macroeconomic positions and growth prospects weakened in the advanced economies; emerging market economies (EMEs) improved however. Offshore, local-currency bonds of EMEs became popular as result, with many EMEs exploiting the opportunity. India also launched its...
Persistent link: https://www.econbiz.de/10011708308
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Institutional investors and home bias in Europ's capital markets union
Darvas, Zsolt M.; Schoenmaker, Dirk - 2017
Integrated capital markets facilitate risk sharing across countries. Lower home bias in financial investments is an … indicator of risk sharing. We highlight that existing indicators of equity home bias in the literature suffer from incomplete … coverage because they consider only listed equities. We also consider unlisted equites and show that equity home bias is much …
Persistent link: https://www.econbiz.de/10011613999
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FDI spillover effects on innovation activities of knowledge-using and knowledge-creating firms : evidence from an emerging economy
Vujanović, Nina; Hoshi, Iraj; Hisarciklilar, Mehtap; … - 2022
The beneficial effects of innovation for firms' performance and competitiveness are well documented, but it has been suggested in recent years that innovation regimes differ between advanced and emerging economies. While advanced economies rely on knowledge generation, their emerging...
Persistent link: https://www.econbiz.de/10013162218
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Global economic divergence and portfolio capital flows to emerging markets
Mandalinci, Zeyyad; Mumtaz, Haroon - 2015
This paper studies the role of global and regional variations in economic activity and policy in developed world in driving portfolio capital flows (PCF) to emerging markets (EMs) in a Factor Augmented Vector Autoregressive (FAVAR) framework. Results suggest that PCFs to EMs depend mainly on...
Persistent link: https://www.econbiz.de/10011372822
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Preventing sudden stops in net capital flows
Cavallo, Eduardo A.; Izquierdo, Alejandro; León, John Jairo - 2020
Sudden stops in net capital flows can be prevented if domestic investors either repatriate foreign-held assets or roll over their local asset holdings when foreign investors stop lending or sell off their local asset holdings. This paper presents evidence showing that domestic factors such as...
Persistent link: https://www.econbiz.de/10012267599
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Domestic antidotes to sudden stops
Cavallo, Eduardo A.; Izquierdo, Alejandro; León-Díaz, … - 2017
Sudden Stops in net capital flows can be prevented when the actions of domestic investors offset a reduction in foreign lending. This paper presents evidence that while sudden stops in gross inflows—i.e., a tightening of the external borrowing constraint—are associated with global conditions...
Persistent link: https://www.econbiz.de/10011784126
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On corporate borrowing, credit spreads and economic activity in emerging economies : an empirical investigation
Caballero, Julián; Fernández, Andrés; Park, Jongho - 2016
This paper studies the influence of external financial factors on economic activity in emerging economies (EMEs) motivated by a considerable increase in foreign financing by the corporate sector in EMEs since the early 2000s, mainly in the form of bond issuance. A quarterly external financial...
Persistent link: https://www.econbiz.de/10011519092
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Sudden stops, sovereign risk, and fiscal rules
Gómez González, José Eduardo; Valencia, Oscar M.; … - 2021
This paper studies the effect of implementing fiscal rules on sovereign default risk and on the probability of large capital ow reversals for a large sample of countries including both developed and emerging market economies. Results indicate that fiscal rules are beneficial for macroeconomic...
Persistent link: https://www.econbiz.de/10012586437
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News, sovereign debt maturity, and default risk
Dvorkin, Maximiliano A.; Sanchez, Juan M.; Sapriza, Horacio - 2018
share some features of a productivity shock and others of sudden stop events. However, unlike episodes of sudden stops, long …
Persistent link: https://www.econbiz.de/10011950496
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Debt affordability in developed and emerging market economies : the role of fiscal rules
Valencia, Oscar M.; Gómez González, José Eduardo; … - 2022
This paper studies the effect of fiscal rules on debt affordability in a large set of developed and emerging market economies, using a panel data model which allows the inclusion of weakly exogenous regressors, and which deals appropriately with cross-sectional dependence. The results show a...
Persistent link: https://www.econbiz.de/10014495983