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Within a two-step GARCH framework we explore the linkages between equity returns of ten sectors in the euro area, the United States and Japan, respectively. Our estimation framework allows a distinction to be made between spillover effects originating from one of the three currency areas and...
Persistent link: https://www.econbiz.de/10009635881
This paper considers the role of foreign investors in developed-country equity markets. It presents a quantitative model of trading that is built around two new assumptions: (i) both the foreign and domestic investor populations contain investors of different sophistication, and (ii) investor...
Persistent link: https://www.econbiz.de/10009636533
Over the past decades, cross-border financial flows have increased in importance and have in many occasions exceeded the underlying current account positions. This phenomenon has been accompanied by an increase in the volume of international equity transactions that accentuate the role of...
Persistent link: https://www.econbiz.de/10009635970
focus analyses the development of the financial sector including its impact on economic growth. While the sector has … advanced considerably in scale and efficiency, there is clear room for further development to support future growth. …
Persistent link: https://www.econbiz.de/10009641248
This paper analyses the link between finance and growth by studying the effect that the process of financial … deregulation and harmonisation of banking laws at the EU level has brought about on growth over the last 40 years. Our main … findings point to the existence of a positive long-run growth impact from the liberalisation of capital controls and the …
Persistent link: https://www.econbiz.de/10009635911
's 'financial architecture'. The freeing of capital movements and the globalisation of markets have boosted economic growth; but …
Persistent link: https://www.econbiz.de/10009636104
stimulating and disciplining environment for large companies while at the same time facilitating the growth of young innovative …
Persistent link: https://www.econbiz.de/10009640166
This report presents the results of the evaluation of the European Communityu0092s support to private sector development (PSD) in third countries over the period 1994-2003. It aims to contribute to improving the coherence of the Commissionu0092s sectoral approach and also at enhancing coherence...
Persistent link: https://www.econbiz.de/10009638439
Persistent link: https://www.econbiz.de/10009638446
Persistent link: https://www.econbiz.de/10009638467