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Has International Financial Integration Increased?

Goldberg, Lawrence G.; Lothian, James R.; Okunev, John - 2002

This paper compares the behavior of real interest rate differentials across the major countries under the Bretton Woods regime and the regime of floating exchanges that replaced it. The primary object is to investigate both the extent of market integration and its changes over time. For all...

Persistent link: https://www.econbiz.de/10009440748

The stock market and South Africa's economic development

Frank, Ashley Gavin - 2004

Financial liberalisation, through increasing investment as well as the average productivity of capital, should stimulate economic growth, or so the theory goes. Bank lending unfortunately suffers adverse selection and moral hazard effects, to which the establishment and expansion of stock...

Persistent link: https://www.econbiz.de/10009457735

Inflation, Real Interest Rates, and the Bond Market: A Study of UK Nominal and Index-Linked Government Bond Prices

Barr, David; Campbell, John - 1997

Economics

Persistent link: https://www.econbiz.de/10009431974

House prices and real interest rates in Spain

Ayuso Huertas, Juan; Blanco Escolar, Roberto; Restoy … - 2006

This paper analyses the contribution of interest rates to explain recent house price developments in Spain trying to reconcile different pieces of evidence. On the one hand, empirical evidence supports the view that interest rates are a key variable to explain house price developments. As a...

Persistent link: https://www.econbiz.de/10012529523

Uncertainty and the price of risk in a nominal convergence process

Gimeno Nogués, Ricardo; Marqués Sevillano, José Manuel - 2008

In this paper we decompose nominal interest rates into real risk-free rates, inflation expectations and risk premia using an affine model that takes as factors the observed inflation rate and the parameters generated in the zero yield curve estimation. We apply this model to the Spanish economy...

Persistent link: https://www.econbiz.de/10012529952

Have real interest rates really fallen that much in Spain?

Blanco Escolar, Roberto; Restoy Lozano, Fernando - 2007

This paper analyses the behaviour of real interest rates in the Spanish economy over the last 15 years. Since inflation-indexed-bonds are not available, changes in implicit real interest rates are estimated using several approaches suggested by macroeconomic and financial theory. In particular,...

Persistent link: https://www.econbiz.de/10012530156

Financial liberalisation in India and a new test of the complementarity hypothesis

Pentecost, E J; Moore, T - 2006

This paper reappraises the financial repression hypothesis for India in the light of the partial liberalisation of the financial sector in the early 1990s, using for the first time, state-of-art multivariate cointegration and vector error correction models (VECM). From this robust test we find...

Persistent link: https://www.econbiz.de/10009465499

How will ageing affect the structure of financial markets

Davis, EP - 2007

The ageing of the world population is an ineluctable process with major economicimplications. Whereas there is … structure. Ageing tends to benefit bond markets relative to equitymarkets, while depressing private saving and external balances … of ageing havewide-ranging implications for policymakers and market participants. …

Persistent link: https://www.econbiz.de/10009481465

The end of the demographic dividend in Latin America: challenges for economic and social policies

Berganza, Juan Carlos; Campos, Rodolfo G.; Martínez …

Artículo de revista ; Population ageing is a major global challenge. The Latin American economies have a younger … from the adaptation of social welfare systems to population ageing. …

Persistent link: https://www.econbiz.de/10012524474

Ageing, productivity and employment status

Anghel, Brindusa; Lacuesta Gabarain, Aitor

is particularly important in Spain’s current demographic context of a gradually ageing population. …

Persistent link: https://www.econbiz.de/10012524476