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Explaining foreign holdings of Asia’s debt securities

Horioka, Charles; Nomoto, Takaaki; Terada Hagiwara, Akiko - 2014

securities, with emphasis on Japan and developing Asia. We find that foreign residents generally increased their holdings of …

Persistent link: https://www.econbiz.de/10010336962

Explaining foreign holdings of Asia's debt securities : the Feldstein-Horioka paradox revisited

Horioka, Charles; Terada Hagiwara, Akiko; Nomoto, Takaaki - 2015

the Eurozone economies, the US, and developing Asia showing relatively weak home bias and advanced Asia, especially Japan … capital has been flowing from the US and the Eurozone economies to both advanced Asia (especially Japan) and developing Asia … reasons. The main reason in the case of advanced Asia (especially Japan) appears to be higher riskadjusted returns, whereas …

Persistent link: https://www.econbiz.de/10011379708

Explaining Foreign Holdings of Asia's Debt Securities : The Feldstein-Horioka Paradox Revisited

Horioka, Charles - 2015

Persistent link: https://www.econbiz.de/10013012122

Banks Matter in Eurozone Debt Crisis

Wind, Serge L. - 2011

The eurozone sovereign debt crisis, characterized by enormous debt burdens faced by its weakest economies, has also induced a parallel credit crunch and illiquidity concerns for European banks. Bank holdings of sovereign debt issued by peripheral eurozone countries have dropped in value and are...

Persistent link: https://www.econbiz.de/10013117156

Sovereign debt in the 21st century : looking backward, looking forward

Mitchener, Kris; Trebesch, Christoph - 2021

How will sovereign debt markets evolve in the 21st century? We survey how the literature has responded to the eurozone debt crisis, placing "lessons learned" in historical perspective. The crisis featured: (i) the return of debt problems to advanced economies; (ii) a bank-sovereign "doom-loop"...

Persistent link: https://www.econbiz.de/10012489670

Saving Imbalances and the Euro Area Sovereign Debt Crisis

Higgins, Matthew - 2011

For several years prior to 2010, countries in the euro area periphery engaged in heavy borrowing from foreign private investors, allowing domestic spending to outpace incomes. Now these countries face debt crises reflecting a loss of investor confidence in the sustainability of their finances....

Persistent link: https://www.econbiz.de/10013120693

How to Restructure Euro Area Sovereign Debt in the Era of COVID-19

Arnold, Theresa - 2020

Countries with large debts stocks are vulnerable to the vagaries of the markets. Confidence crises can arise out of nowhere, constricting access to the markets. Hence, the question arises as to whether these countries should put in place mechanisms that will help them better prepare for the...

Persistent link: https://www.econbiz.de/10012846838

Sovereign contagion in Europe : evidence from the CDS market

Manasse, Paolo; Zavalloni, Luca - 2013

This paper addresses the following questions. Is there evidence of financial contagion in the Eurozone? To what extent a country's vulnerability to contagion depends on "fundamentals" as opposed the government's "credibility"? We look at the empirical evidence on European sovereigns CDS spreads...

Persistent link: https://www.econbiz.de/10011731038

How important was contagion through banks during the European sovereign crisis?

Gonçalves, Andrei S. - 2017

We use days with tail sovereign CDS spread changes of peripheral countries to identify the effects of shocks to the cost of borrowing of these countries on stock returns of banks from other countries. We find that tail sovereign GIIPS CDS changes have an asymmetric impact in that bank stocks...

Persistent link: https://www.econbiz.de/10011963385

Romania's external debt : trend and characteristics after the accession to the European Union

Milea, Camelia - In: Financial studies 22 (2018) 2, pp. 52-64

The paper aims to argue the importance of the external debt and of its structure for the management of macroeconomic policies. The survey focused on the period 2006-2017, in order to reveal the effects of Romania's joining the European Union on the trend of the external debt of and of its...

Persistent link: https://www.econbiz.de/10011964947