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Policy Uncertainty Spillovers to Emerging Markets - Evidence from Capital Flows.
Gauvin, L.; McLoughlin, C.; Reinhardt, D. - Banque de France - 2013
level of country specific default risk matters for equity flows only. …
Persistent link: https://www.econbiz.de/10010661255
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The Financial Role of East Asian Economies in Global Imbalances: An Econometric Assessment of Developments after the Global Financial Crisis
Lee, Hyun-Hoon; PARK, DONGHYUN - Office of Regional Economic Integration, Asian … - 2013
The central objective of this paper is to empirically assess how global imbalances have evolved since the global financial crisis of 2008/09. More specifically, we examine how the security investment positions of major East Asian economies in United States (US) financial markets—equities,...
Persistent link: https://www.econbiz.de/10010992321
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Policy uncertainty spillovers to emerging markets – evidence from capital flows
Gauvin, Ludovic; McLoughlin, Cameron; Reinhardt, Dennis - Bank of England - 2014
these spillover effects depends on the level of global risk, with increased European policy uncertainty only having a … negative impact on bond inflows into EMEs when global risk is high. For equity inflows, the level of country-specific sovereign … default risk also matters for non-linearities: increased EU policy uncertainty pushes portfolio equity inflows into EMEs even …
Persistent link: https://www.econbiz.de/10010928950
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What Drives Capital Flows to Emerging Markets? A Survey of the Empirical Literature
Koepke, Robin - Volkswirtschaftliche Fakultät, … - 2015
This paper reviews the rapidly growing empirical literature on the drivers of capital flows to emerging markets. The empirical evidence is structured based on the recognition that the drivers of capital flows vary over time and across different types of capital flows. The drivers are classified...
Persistent link: https://www.econbiz.de/10011266125
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Importzoll, Beschaeftigung und Leistungsbilanz: ein mikrofundierter Ansatz
Bleich, Torsten - Fächergruppe Volkswirtschaftslehre, Helmut Schmidt … - 2004
Der vorliegende Beitrag untersucht die Wirkungen eines Importzolls auf die Beschaeftigung und die Leistungsbilanz der kleinen offenen Wirtschaft. Neben der makrooekonomischen Totalanalyse von Zollwirkungen steht die mikrooekonomische Fundierung des verwendeten Modells im Mittelpunkt. Die...
Persistent link: https://www.econbiz.de/10005091326
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How Can the Crisis Vulnerability of Emerging Economies Be Reduced?
Abberger, Klaus; Bhattacharyay, Biswa Nath; Nam, Chang Woon - ifo Leibniz-Institut für Wirtschaftsforschung an der …
Emerging countries in many cases are more crisis-prone than highly developed industrialized countries. This is in many cases due to a weak or volatile financial sector. The best policy to strengthen crisis resistance is the building up of a sound financial position. A sound financial position of...
Persistent link: https://www.econbiz.de/10011148843
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Solving the Forward Discount Bias Puzzle in a Small Open Developing Economy
Weeraratne, Bilesha B. - In: South Asia Economic Journal 12 (2011) 1, pp. 61-89
This article tests the validity of a Forward Discount Bias Puzzle, in a small open developing economy (SODE)—Sri Lanka—by employing first an unstructured vector autoregression (VAR) model and then a structured VAR model. The author argues that empirical examinations concerning...
Persistent link: https://www.econbiz.de/10010784295
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Asymmetric demographic shocks and institutions: The impact on international capital flows and welfare
Arezki, Rabah - Volkswirtschaftliche Fakultät, … - 2010
This paper examines the consequences of an asymmetric negative fertility shock on capital formation, saving … domestic investor return on capital. The shock is transmitted to the small open economy depending on whether the wedge is below …¤erence in returns on capital. After the shock has occurred, capital is repatriated in order to �nance the old age consumption of …
Persistent link: https://www.econbiz.de/10008777398
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Capital Inflows and Real Exchange Rate Appreciation in Latin America
Reinhart, Carmen; Calvo, Guillermo; Leiderman, Leonardo - Volkswirtschaftliche Fakultät, … - 1992
The characteristfcs of recent capital inflows into Latin America are discussed. It is argued that these inflows are partly explained by conditions outside the region, like recession in the United States and lower international interest rates. This suggests the possibility that a reversal of...
Persistent link: https://www.econbiz.de/10005836885
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Global Savings and Global Investment: The Transmission of Identified Fiscal Shocks
Feyrer, James; Shambaugh, Jay - In: American Economic Journal: Economic Policy 4 (2012) 2, pp. 95-114
This paper examines the effect of exogenous shocks to savings on world capital markets. Exogenous tax increases in the United States (from Romer and Romer 2010) are only partially offset by changes in domestic private savings, and only a small amount is absorbed by increased domestic investment...
Persistent link: https://www.econbiz.de/10010599119