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Global Corporate Debt During Crises : Implications of Switching Borrowing Across Markets

Cortina Lorente, Juan Jose - 2020

This paper studies how crises prompted firms to switch borrowing across markets, impacting the amount borrowed, maturity, and currency denomination at the firm and aggregate levels. Using data on worldwide debt issuance from advanced and emerging economies, the paper shows that firms shifted...

Persistent link: https://www.econbiz.de/10012842157

Placing Bank Supervision in the Central Bank : Implications for Financial Stability Based on Evidence from the Global Crisis

Melecky, Martin - 2017

Although keeping bank supervision independent from macroprudential supervision may ensure more checks and balances …, placing bank supervision in the central bank could exploit synergies with macroprudential supervision. This paper studies … whether placing microprudential supervision of banks, typically the systemic part of the financial system, under the same roof …

Persistent link: https://www.econbiz.de/10012971545

The Social Impact of Financial Crises : Evidence from the Global Financial Crisis

Otker-Robe, Inci - 2017

Financial systems can contribute to economic development by providing people with useful tools for risk management, but when they fail to manage the risks they retain, they can create severe financial crises with devastating social and economic effects. The financial crisis that hit the world...

Persistent link: https://www.econbiz.de/10012973780

On the International Transmission of Shocks : Micro-Evidence from Mutual Fund Portfolios

Raddatz, Claudio E. - 2017

Using micro-level data on mutual funds from different financial centers investing in equity and bonds, this paper analyzes how investors and managers behave and transmit shocks across countries. The paper shows that the volatility of mutual fund investments is quantitatively driven by investors...

Persistent link: https://www.econbiz.de/10012975229

Gross Capital Flows : Dynamics and Crises

Broner, Fernando - 2017

This paper analyzes the joint behavior of international capital flows by foreign and domestic agents -- gross capital flows -- over the business cycle and during financial crises. The authors show that gross capital flows are very large and volatile, especially relative to net capital flows....

Persistent link: https://www.econbiz.de/10012975821

How Resilient and Countercyclical Were Emerging Economies to the Global Financial Crisis?

Didier, Tatiana - 2017

During the crises of the 1990s, emerging economies usually lacked the policy tools to deal with external shocks that were available to advanced economies. Worldwide turbulent episodes found most emerging economies unable to perform countercyclical policies and, in many cases, their own...

Persistent link: https://www.econbiz.de/10012976041

Macroprudential Stress-Testing Practices of Central Banks in Central and South Eastern Europe : An Overview and Challenges Ahead

Melecky, Martin - 2017

communication, cooperation of macroprudential and microprudential supervision, and information exchange for better cross …-border supervision of international banking groups …

Persistent link: https://www.econbiz.de/10012976359

Capital Inflows, Equity Issuance Activity, and Corporate Investment

Calomiris, Charles W. - 2018

This paper uses issuance-level data to study how equity capital inflows that enter emerging market economies affect equity issuance and corporate investment. It shows that foreign inflows are strongly correlated with country-level issuance. The relation especially reflects the behavior of large...

Persistent link: https://www.econbiz.de/10012921833

Mutual Fund Investment in Emerging Markets - an Overview

Kaminsky, Graciela - 2017

International mutual funds are one of the main channels for capital flows to emerging economies. Although mutual funds have become important contributors to financial market integration, little is known about their investment allocation, and strategies. The authors provide an overview of mutual...

Persistent link: https://www.econbiz.de/10012946753