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Financial integration, globalization, and real activity

De Nicolò, Gianni; Juvenal, Luciana - 2012

Using data for a large number of advanced and emerging market economies during 1982-2009, this paper examines the distinct impact of financial integration and globalization on several dimensions of real activity. We find that: (a) financial integration has progressed significantly worldwide,...

Persistent link: https://www.econbiz.de/10009490605

The Degree of Financial Liberalization and Aggregated Stock-Return Volatility in Emerging Markets

Umutlu, Mehmet - 2013

In this study, we address whether the degree of financial liberalization affects the aggregated total volatility of stock returns by considering the time-varying nature of financial liberalization. We also explore channels through which the degree of financial liberalization impacts aggregated...

Persistent link: https://www.econbiz.de/10013095651

The Flow-Performance Relationship in Emerging Market Bond Funds

Leung, David - 2018

We investigate the relationship between net inflow to mutual bond funds that invest in emerging market economies (EMEs) and the past performance of these funds. Our main finding is that EME bond funds display a convex flow-performance relationship. In other words, past performance is a...

Persistent link: https://www.econbiz.de/10012929173

Investment opportunities in Central and Eastern European equity markets : an econometric examination of the risk-return relationships for Western investors

Schröder, Michael - 2000

This study focuses on the diversification benefits of the most developed equity markets of Central and Eastern Europe … (CEE). To evaluate these benefits of diversification we use so-called spanning tests based on a stochastic discount factor …

Persistent link: https://www.econbiz.de/10011444904

Diversification, Efficiency and Risk of Banks : New Consolidating Evidence From Emerging Economies

Jeon, Bang Nam; Wu, Ji; Chen, Limei; Chen, Minghua - 2022

This paper examines the impact of business diversification of banks on their risk, with efficiency taken into … find that increased business diversification exerts two competing effects on bank risk, and overall reduces bank risk. The … direct effect of increased diversification bolsters the stability of banks, but this is offset partially by the indirect …

Persistent link: https://www.econbiz.de/10013292984

Financial constraints and firm exports : accounting for heterogeneity, self-selection and endogeneity

Secchi, Angelo; Tamagni, Federico; Tomasi, Chiara - 2014

The paper examines the causal effect of financial constraints on firm exports. We exploit a firm-level proxy of constraints based on credit ratings and available for a large panel of Italian exporting and non exporting firms. Our estimation strategy allows to cure for self-selection into exports...

Persistent link: https://www.econbiz.de/10010403691

Host Country Financial Development and Multinational Activity

Bilir, Kamran - 2019

This paper evaluates the influence of host-country financial conditions on the global operations of multinational firms. Using detailed U.S. data, we establish that financial development in a country is associated with relatively more entry by multinational affiliates, as well as with higher...

Persistent link: https://www.econbiz.de/10012905400

Financial Liberalization and the Relationship-Specificity of Exports

Defever, Fabrice - 2013

We investigate the causal impact of equity market liberalizations in the period 1980‐1997 on sectoral export performance across 91 countries. The increased availability of external finance has boosted trade of industries that intensively use relationship‐specific inputs, and lowered exports...

Persistent link: https://www.econbiz.de/10013079160

Financial constraints and firm exports : accounting for heterogeneity, self-selection, and endogeneity

Secchi, Angelo; Tamagni, Federico; Tomasi, Chiara - 2021

The article examines the causal effect of financial constraints on firms’ exports. We exploit a firm-level proxy of constraints based on credit ratings and available for a large panel of Italian exporting and non-exporting firms. Our estimation strategy allows to cure for self-selection into...

Persistent link: https://www.econbiz.de/10013314630

Does bilateral market and financial integration explains international co-movement patterns

Ur Rehman, Mobeen; Shah, Syed Muhammad Amir - In: International Journal of Financial Studies : open … 4 (2016) 2, pp. 1-13

the macroeconomic variables thereby readjusting their portfolios for effective diversification. …

Persistent link: https://www.econbiz.de/10011474476

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