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Managing global financial flows at the cost of national autonomy: China and India
Sen, Sunanda - 2012
Persistent link: https://www.econbiz.de/10010318671
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Measuring financial asset return and volatility spillovers, with application to global equity markets
Diebold, Francis X.; Yilmaz, Kamil - 2007
We provide a simple and intuitive measure of interdependence of asset returns and/or volatilities. In particular, we formulate and examine precise and separate measures of return spillovers and volatility spillovers. Our framework facilitates study of both non-crisis and crisis episodes,...
Persistent link: https://www.econbiz.de/10010298351
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Financial Development and Macroeconomic Volatility. Evidence from OECD Countries
Hahn, Franz R. - 2003
This paper discusses the link between financial development and macroeconomic volatility by exploring some of the ways through which financial development may affect business cycle fluctuations. To be specific, we examine whether stock market development exerts an unambiguous effect on...
Persistent link: https://www.econbiz.de/10011435122
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Finance and the Business Cycle. The Ricardian Perspective
Hahn, Franz R. - 2003
A Ricardian-type set-up is used to explore the linkage between financial development and the business cycle. Though financial advancement may be good for growth due to making possible a higher degree of division of labor, it may, for the same reason, be bad for the business cycle. Building on...
Persistent link: https://www.econbiz.de/10011435135
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The transition from official aid to private capital flows: Implications for a developing country
Kohli, Renu - 2004
India’s capital account displays a sharp swing in external financing from official assistance to private capital …
Persistent link: https://www.econbiz.de/10010284794
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What lessons have been learnt since the East Asian Crisis in 1997/98? CIBS, capital flows and exchange rates
Pircher, Marion - 2008
, India, Brazil, and South Africa (CIBS). Furthermore, we compare the level of financial stability, and the composition and …
Persistent link: https://www.econbiz.de/10010273459
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India's expericene in navigating the trilemma: Do capital control help?
Kohli, R. - 2011
Managing capital flows is the key policy challenge for emerging economies like India in the aftermath of the crisis. In … contrast to other emerging markets who are levying capital controls, India's macro-monetary framework is distinguished by … significant restrictions that help manage inflows. Against this context, the paper characterizes India's capital account …
Persistent link: https://www.econbiz.de/10011807663
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On the Extent of Economic Integration: A Comparison of EU Countries and US States
Bowen, Harry P.; Munandar, Haris; Viaene, Jean-Marie - 2010
European economic integration is commonly believed to be incomplete, and that further reforms are needed. In this context, the union of U.S. states is considered the benchmark of complete economic integration and is often the basis for comparison regarding the extent of E.U economic integration....
Persistent link: https://www.econbiz.de/10010325686
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Adam Smith's answer to the Feldstein-Horioka paradox: The invisible hand revisited
Yasutomi, Ayumu; Horioka, Charles Yuji - 2010
In this paper, we show that Adam Smith pointed out the existence of the Feldstein-Horioka Paradox or Puzzle and even gave an explanation for it more than 200 years before the publication of Feldstein and Horioka (1980). Smith argues that it is the pursuit of their own security that leads owners...
Persistent link: https://www.econbiz.de/10010332269
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The Feldstein-Horioka fact
Giannone, Domenico; Lenza, Michele - 2008
This paper shows that general equilibrium effects can partly rationalize the high correlation between saving and investment rates observed in OECD countries. We find that once controlling for general equilibrium effects the saving-retention coefficient remains high in the 70’s but decreases...
Persistent link: https://www.econbiz.de/10011604919