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Financial globalization in emerging countries: Diversification vs. offshoring
Ceballos, Francisco; Didier, Tatiana; Schmukler, Sergio L. - 2012
offshoring. The diversification dimension of globalization refers to the increase in foreign assets and liabilities in countries … markets and countries. We also show that the nature of financing through both diversification and offshoring has improved for … examines two important concurrent dimensions of financial globalization relevant for emerging countries: diversification and …
Persistent link: https://www.econbiz.de/10010397209
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Securitization of mortgage debt, asset prices and international risk sharing
Hoffmann, Mathias; Nitschka, Thomas - 2009
We explore the impact of mortgage securitization on the international diversification of macroeconomic risk. By making …
Persistent link: https://www.econbiz.de/10010264540
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The banking sector and the Swiss financial account during the financial and European debt crises
Auer, Raphael A.; Tille, Cedric - In: Aussenwirtschaft 67 (2016) 2, pp. 69-97
The US financial crisis and the later Eurozone crisis have substantially affected capital flows into and out of financial centers like Switzerland. We focus on the pattern of capital flows involving the Swiss banking industry. We first rely on balance-of-payment statistics and show that net...
Persistent link: https://www.econbiz.de/10012435218
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Offshoring And Financial Markets
Battisti, Gianfranco - 2013
During the 20th century all economic structures underwent the impact of two epochal phenomena, the communications revolution and the financialization of economy. As a consequence of the never ending technological progress, the first has repeatedly reduced the friction of distance, provoking a...
Persistent link: https://www.econbiz.de/10011397502
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Do China and oil exporters influence major currency configurations?
Fratzscher, Marcel; Mehl, Arnaud - 2008
This paper analyses the impact of the shift away from a US dollar focus of systemically important emerging market economies (EMEs) on configurations between the US dollar, the euro and the yen. Given the difficulty that fixed or managed US dollar exchange rate regimes remain pervasive and...
Persistent link: https://www.econbiz.de/10011605019
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Interbank market integration under asymmetric information
Freixas, Xavier; Holthausen, Cornelia - 2001
While domestic interbank markets are often considered to work in an efficient way, cross-country bank lending appears to be subjected to market imperfections leading to persistent interest rate differentials. In a model where banks need to cope with liquidity shocks by borrowing or by...
Persistent link: https://www.econbiz.de/10011604120
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Developing Asian local currency bond markets: Why and how?
Spiegel, Mark M. - 2009
This paper examines the motivation for, and the success of, regional efforts in Asia to promote local currency bond markets. The analysis demonstrates that Asian local currency bond markets made substantial gains as a region going into the current global financial crisis. However, we argue that...
Persistent link: https://www.econbiz.de/10010279833
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How does the domiciliation decision affect mutual fund fees?
Lang, Gunnar; Köhler, Matthias - 2011
In this paper, we analyze whether the domiciliation decision of mutual funds has an impact on fund fees. To explain the fee price-setting of mutual funds, we consider characteristics specific to funds, fund companies, and countries. We find that fees vary considerably across fund types and...
Persistent link: https://www.econbiz.de/10010308271
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Financial Globalization and Foreign Direct Investment
Poelhekke, Steven - 2016
This chapter provides a broad overview of the upward trends in financial globalization and foreign direct investment and asks whether and how financial globalization is linked with the foreign direct investment decisions of non-financial multinational enterprises. Several potential links and...
Persistent link: https://www.econbiz.de/10011586713
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Financial globalization and economic policies
Kose, M. Ayhan; Prasad, Eswar; Rogoff, Kenneth; Wei, … - 2009
We review the large literature on various economic policies that could help developing economies effectively manage the process of financial globalization. Our central findings indicate that policies promoting financial sector development, institutional quality and trade openness appear to help...
Persistent link: https://www.econbiz.de/10010269041