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The literature on drivers of capital flows stresses the prominent role of global financial factors. Recent empirical work, however, highlights how this role varies across countries and time, and this heterogeneity is not well understood. We revisit this question by focusing on financial...
Persistent link: https://www.econbiz.de/10011927531
The literature on drivers of capital flows stresses the prominent role of global financial factors. Recent empirical work, however, highlights how this role varies across countries and time, and this heterogeneity is not well understood. We revisit this question by focusing on financial...
Persistent link: https://www.econbiz.de/10011847862
This paper exploits a novel bank-level monthly dataset to assess the effects of global liquidity on the global flows of euro area banks. The period associated with the European sovereign debt crisis has witnessed increased growth in euro area bank claims on extra-euro area residents, against a...
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international financing as well as for international investment. The times series collected for these measures allow for the … immediately became the second most widely used currency for international financing and investment. For the flow of international … of the year. The euro's international investment role appears more static though, since most of the early external asset …
Persistent link: https://www.econbiz.de/10009767695
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I study the determinants of capital flows to Argentina, Brazil, and Mexico, assessing the relative importance of domestic and global factors. I estimate six VECM models, one for each Latin American country plus the Euro Area, Japan, and USA, and then embed them in a multi-country Global VAR. The...
Persistent link: https://www.econbiz.de/10012728441