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Portfolio Managers and Elections in Emerging Economies: How investors dislike political uncertainty
Frot, Emmanuel; Santiso, Javier - 2010
This paper studies the effect of elections and democracy on bond and equity flows to emerging countries. Our results … indicate that elections affect portfolio flows: the period following an election is generally characterised by a fall in equity … uncertainty about future policies plays a key role in explaining the effect of elections. Bond flows decrease after an election …
Persistent link: https://www.econbiz.de/10012110636
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Foreign and domestic investment in global bond markets
Park, Donghyun; Taniguchi, Kiyoshi; Tian, Shu - 2018
Gauging foreign (domestic) biases as the deviation of foreign (domestic) investors' actual portfolio allocation of a bond market from the same bond market's weight in global bond market, we investigate the determinants of foreign and domestic investment biases in 41 global bond markets. We find...
Persistent link: https://www.econbiz.de/10012064697
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Genetic Ability, Wealth, and Financial Decision-Making
Barth, Daniel; Papageorge, Nicholas W.; Thom, Kevin - 2017
Recent advances in behavioral genetics have enabled the discovery of genetic scores linked to a variety of economic outcomes, including education. We build on this progress to demonstrate that the same genetic variants that predict educational attainment independently predict household wealth in...
Persistent link: https://www.econbiz.de/10011653295
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Hidden hostility: Donor attention and political violence
Anderson, Siwan; Francois, Patrick; Rohner, Dominic; … - 2022
surmises that oppositions will reduce agitations when shocks are anticipated (elections). In contrast, when unanticipated …
Persistent link: https://www.econbiz.de/10014322628
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Contagion and Spillovers: New Insights from the Crisis
Backé, Peter; Feldkircher, Martin; Gnan, Ernest; … - 2010
On February 12, 2010, SUERF, the Oesterreichische Nationalbank and the Bankwissenschaftliche Gesellschaft continued their established tradition of jointly organised conferences. As evidenced also by the 115 conference participants, this year's subject of "Contagion and Spillovers – New...
Persistent link: https://www.econbiz.de/10011689946
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The effects of surprise political events on quoted firms: The March 2004 election in Spain
Castells, Pau; Trillas, Francesc - In: SERIEs - Journal of the Spanish Economic Association 4 (2013) 1, pp. 83-112
In the last days of the electoral campaign for the 2004 general election in Spain, on Thursday March 11th 2004, a series of simultaneous terror attacks caused the death of 191 persons in commuting trains in the capital Madrid. Four days later, the opposition party won the election, against all...
Persistent link: https://www.econbiz.de/10010317066
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Political rights, taxation, and firm valuation: Evidence from Saxony around 1900
Lehmann, Sibylle H.; Hauber, Philipp; Opitz, Alexander - 2012
The extension of the franchise to social groups with less property and income is associated with greater income redistribution from the rich to the poor and extension in the provision of public goods, which leads to the growth of government expenditure. All of these expected changes are costly...
Persistent link: https://www.econbiz.de/10010310844
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Failed attempt to break up the oligopoly in sovereign credit rating market after financial crises
Malewska, Alicja - In: Contemporary Economics 15 (2021) 2, pp. 153-163
For decades, the credit rating market has been dominated by three major agencies (Moody's, S&P and Fitch Ratings). Their oligopolistic dominance is especially strong in sovereign credit ratings industry, where they hold a collective global share of more than 99%. Global financial crisis and the...
Persistent link: https://www.econbiz.de/10014544630
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Measuring expectations from household survey: New results on subjective probabilities of future house prices
Bover, Olympia - In: SERIEs - Journal of the Spanish Economic Association 6 (2015) 4, pp. 361-405
I analyze new data on subjective probabilistic expectations on house prices collected in the Spanish Survey of Household Finances. Households are asked to distribute ten points among five different scenarios for the change in the price of their homes over the next 12 months. This paper is the...
Persistent link: https://www.econbiz.de/10011650308
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Globalization, the volatility of intermediate goods prices and economic growth
Steger, Thomas M.; Bretschger, Lucas - 2005
We set up a dynamic stochastic model of a stylized economy comprising a final output sector (with traditional and modern firms) and an intermediate goods sector. It is shown that market integration reduces the volatility of the rate of return of capital invested in modern firms. The induced...
Persistent link: https://www.econbiz.de/10011753105