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Why has Japan's massive government debt not wreaked havoc (yet)?
Horioka, Charles Yuji; Nomoto, Takaaki; … - 2013
In this paper, we present data on trends over time in government debt financing in Japan since 2010 with emphasis on the importance of foreign holders and speculate about the determinants of those trends. We find that Japanese government securities were held primarily by domestic holders until...
Persistent link: https://www.econbiz.de/10010332404
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Capital inflow surges and consequences
Ghosh, Atish R.; Qureshi, Mahvash Saeed - 2016
While capital flows to emerging markets bring numerous benefits, they are also known to create macroeconomic imbalances (economic overheating, currency overvaluation) and increase financial vulnerabilities (domestic credit growth, bank leverage, foreign currency-denominated lending). But are all...
Persistent link: https://www.econbiz.de/10011653787
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Financial system specialization and private research and development expenditure: Research for OECD countries
Méndez-Morales, Edgard Alberto; Yanes-Guerra, Carlos … - In: Journal of Economics, Finance and Administrative Science 26 (2021) 51, pp. 41-60
the critical role that stock markets have in enhancing private R&D and that bond markets have an inverse relationship with …
Persistent link: https://www.econbiz.de/10013192192
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Explaining foreign holdings of Asia's debt securities: The Feldstein-Horioka paradox revisited
Horioka, Charles Yuji; Terada-Hagiwara, Akiko; Nomoto, … - 2015
the Eurozone economies, the US, and developing Asia showing relatively weak home bias and advanced Asia, especially Japan … capital has been flowing from the US and the Eurozone economies to both advanced Asia (especially Japan) and developing Asia … and that foreign holdings of debt securities have been increasing in advanced as well as developing Asia but for different …
Persistent link: https://www.econbiz.de/10011421476
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Why has Japan's massive government debt not wreaked havoc (yet)?
Horioka, Charles Yuji - 2013
In this paper, we present data on trends over time in government debt financing in Japan since 2010 with emphasis on the importance of foreign holders and speculate about the determinants of those trends. We find that Japanese government securities were held primarily by domestic holders until...
Persistent link: https://www.econbiz.de/10010333541
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Explaining Foreign Holdings of Asia’s Debt Securities
Horioka, Charles Yuji; Nomoto, Takaaki; … - 2014
securities, with emphasis on Japan and developing Asia. We find that foreign residents generally increased their holdings of …
Persistent link: https://www.econbiz.de/10010507546
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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
We investigate the relationship between economic growth and lagged international capital flows, disaggregated into FDI, portfolio investment, equity investment, and shortterm debt. We follow about 100 countries during 1990-2010 when emerging markets became more integrated into the international...
Persistent link: https://www.econbiz.de/10010288124
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Financial Cycles in Credit, Housing and Capital Markets: Evidence from Systemic Economies
Adarov, Amat - 2017
The study estimates aggregate financial cycles and segment-specific cycles for credit, equity, bond and housing markets …
Persistent link: https://www.econbiz.de/10012099969
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The euro and international capital markets
Detken, Carsten; Hartmann, Philipp - 2000
. For the flow of international bond and note issuance it has even slightly overtaken the US dollar in the second half of … 1999. The data also suggest that this early supply of euro bonds by non-euro area residents, clearly exceeding the euro …
Persistent link: https://www.econbiz.de/10011604065
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Market-function asset purchases
Duffie, Darrell; Keane, Frank - 2023
This paper investigates the goals, costs, and benefits of official-sector purchases of government securities for the purpose of restoring market functionality. We explore the design of market-function purchase programs, including their communication, triggers, operational protocols, exit, and...
Persistent link: https://www.econbiz.de/10014480436