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The structure of external financing: Is there a reason to worry about financing through debt?
Komáromi, András - In: MNB Bulletin 3 (2008) 1, pp. 14-23
Hungary’s external balance indicators improved a great deal in 2007. Simultaneously, however, the external debt ratio also rose which, in an international climate of uncertainty stemming from the sub-prime crisis, drew investors’ attention to the structure of the country’s external...
Persistent link: https://www.econbiz.de/10005562398
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The Composition of International Capital Flows: Risk Sharing Through Foreign Direct Investment
Albuquerque, Rui - EconWPA - 2004
Evidence on international capital flows suggests that foreign direct investment (FDI) is less volatile than other financial flows. To explain this finding, I model international capital flows under the assumptions of imperfect enforcement of financial contracts and inalienability of FDI....
Persistent link: https://www.econbiz.de/10005119449
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Dealing with the Challenges of Capital Inflows in the Context of Macrofinancial Links
Ghosh, Swati - In: World Bank - Economic Premise (2010) 19, pp. 1-6
volatility in their capital flows. At the onset, all countries experienced sudden stops and increases in risk premia. Following …
Persistent link: https://www.econbiz.de/10008837684
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Foreign investment and perceptions of vulnerability to foreign exchange crises: evidence from transition economies
Brada, Josef C.; Tomšík, Vladimír - In: Politická ekonomie 2004 (2004) 3, pp. 313-329
The article discusses different causes of financial crises and shows that the imputation of reinvested profits of the subsidiaries of foreign firms as a debit item on a host country's balance of payments account tends to overstate the current account deficit and to make the host country seem...
Persistent link: https://www.econbiz.de/10005036691
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Reinvested Earnings Bias, The “Five Percent” Rule and the Interpretation of the Balance of Payments – With an Application to Transition Economies
Brada, Josef C.; Tomšík, Vladimír - William Davidson Institute, University of Michigan - 2003
We show that the imputation of reinvested profits of the subsidiaries of foreign firms as a debit item on a host country's balance of payments account tends to overstate the current account deficit. We also show that, because of the workings of the FDI financial life cycle, this phenomenon is...
Persistent link: https://www.econbiz.de/10005784780
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Size and dynamics of debt positions in Belgium and in the euro area
Bruggeman, A.; Nieuwenhuyze, Ch. Van - In: Economic Review (2013) I, pp. 57-77
The current financial crisis has once again shown that the inherent pro-cyclicality of lending can trigger financial cycles with a potentially substantial impact on the real economy. Against that background, the article analyses the size and dynamics of the debt ratios of the various...
Persistent link: https://www.econbiz.de/10011272856
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Private Sector Debt in CESEE EU Member States
Lahnsteiner, Mathias - In: Focus on European Economic Integration (2013) 3, pp. 30-47
The crisis has recalled that private sector indebtedness may constitute a core macrofinancial vulnerability. In some … countries of Central, Eastern and Southeastern Europe (CESEE), risks stemming from indebtedness materialized in the form of … shows the high relevance of this issue. We present s ystematic cross-country information about the indebtedness of the …
Persistent link: https://www.econbiz.de/10010818106
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Financial Liberalization and Business Cycles: The Experience of Countries in the Baltics and Central Eastern Europe
Vinhas de Souza, Lúcio - Deutsche Bundesbank - 2004
States of the European Union, to test if the same short-run increase in cyclical volatility arising from financial … mature market economies, reduces cyclical volatility both in the short and in the long run. Weak indications are found that …
Persistent link: https://www.econbiz.de/10005083257
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Financial Liberalization and Business Cycles: The Experience of Future EU Member States in the Baltics and Central Eastern Europe
Souza, Lucio Vinhas de - EconWPA - 2004
States of the European Union, to test if the same short-run increase in cyclical volatility arising from financial … mature market economies, reduces cyclical volatility both in the short and in the long run. Weak indications are found that …
Persistent link: https://www.econbiz.de/10005062709
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Latin America: The Missing Financial Crisis
Porzecanski, Arturo C. - Volkswirtschaftliche Fakultät, … - 2009
The current episode (2007-09) may well be the first time since Latin America gained its independence in the early 1800s that a major economic contraction and financial calamity in the industrialized world has not caused a wave of currency, sovereign debt or banking crises in the region. What...
Persistent link: https://www.econbiz.de/10008514911