Showing 1 - 10 of 2,301
We introduce financial frictions into a simple two sector model of international trade with heterogeneous agents and investigate the impact of differences in the strength of financial institutions and wealth inequality on trade flows, capital movements and entrepreneurial migration. Distinct...
Persistent link: https://www.econbiz.de/10010347348
Persistent link: https://www.econbiz.de/10010347327
Current data provide macroeconomic information for a large number of countries and for a long period of time (macro panels). This causes that in these panels slope heterogeneity and crosssection dependence (CSD) are a rule rather than the exception, leading to fixed effects slope estimators to...
Persistent link: https://www.econbiz.de/10010486876
Purpose: To dissect the dynamic linkages between foreign equity flows, exchange rates and equity returns in the Philippines.Design/Methodology/Approach: Using a parsimonious SVARX-GARCH model and unique daily equity flow data this research models the relationship between net equity flows,...
Persistent link: https://www.econbiz.de/10013067489
Understanding what drives international portfolio flows has important policy implications for countries wishing to exert some control on the size, direction and volatility of the flows. This paper empirically assesses the relative contribution of common (push) and country-specific (pull) factors...
Persistent link: https://www.econbiz.de/10013025195
How do we know whether capital is more internationally mobile in some periods than in others or for some countries rather than others? Economists normally look at prices when examining market integration, but for capital markets it is difficult to test the law of one price with interest rates...
Persistent link: https://www.econbiz.de/10014079851
As, in Europe, many institutional reforms have been undertaken to establish an economic union, it can be expected that the relevance of borders has decreased over time. For the EU 15, we investigate the expected integration process of the market for corporate control – an illustrative market...
Persistent link: https://www.econbiz.de/10003986833
Given the growing importance of terrorism in today's world, it is essential to understand its impact on the global economy. This paper examines the case of Israel to consider the impact of this phenomenon on the nation's economy. Specifically, it will aim to determine whether the Israeli...
Persistent link: https://www.econbiz.de/10013132262
We are the first to investigate the cross-section of stock returns in the new emerging equity markets, the so-called frontier emerging markets. Our unique survivorship-bias free data set consists of more than 1,400 stocks over the period 1997 to 2008 and covers 24 of the most liquid frontier...
Persistent link: https://www.econbiz.de/10013116149
In this paper, we examine how the future age structure of the nation helps explaining the current ratio of FPI over FDI in a country's foreign asset stock. Firstly, we present a theoretical foundation of the relation and then we test it empirically. Theoretical foundations are based on the...
Persistent link: https://www.econbiz.de/10013105938