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This study examines the effects of capital account restrictions on capital flows in nine Asian economies over the period 1995-2005 using panel regressions with fixed effects. The results show that capital controls significantly affect capital flows when such flows are disaggregated by asset type...
Persistent link: https://www.econbiz.de/10010528529
freefall at the world level, there emerged a second order response at the level of regional institutional building …
Persistent link: https://www.econbiz.de/10013111376
We study the contraction of foreign direct investment (FDI) flows in the United States during the recent financial crisis and show their unusual non-resiliency, which depends in part on the global nature of the economic recession, but also on the increases in the cost of financing FDI in the...
Persistent link: https://www.econbiz.de/10013111001
We study the contraction of foreign direct investment (FDI) flows in the United States during the recent financial crisis and show their unusual non-resiliency, which depends in part on the global nature of the economic recession, but also on the increases in the cost of financing FDI in the...
Persistent link: https://www.econbiz.de/10013107836
This paper analyzes the effect of government support for banks, such as recapitalizations on financial integration and firm outcomes. Using data on European syndicated lending, results show that bailout banks increase their home bias in lending by 24.6% more than non-bailout banks. In turn,...
Persistent link: https://www.econbiz.de/10012892862
This paper extends our previous paper (Aizenman, Chinn, and Ito 2008) and explores some of the unexplored questions. First, we examine the channels through which the trilemma policy configurations affect output volatility. Secondly, we investigate how trilemma policy configurations affect the...
Persistent link: https://www.econbiz.de/10013144649
The pullbacks of capital inflows to developing Asia following the onset of the global financial crisis in 2008 have brought renewed attention to the role and benefits of financial globalization. A number of notable distinctions between the current global crisis and the Asian financial crisis...
Persistent link: https://www.econbiz.de/10013142096
We review the large literature on various economic policies that could help developing economies effectively manage the process of financial globalization. Our central findings indicate that policies promoting financial sector development, institutional quality, and trade openness appear to help...
Persistent link: https://www.econbiz.de/10014025737
This paper extends our previous paper (Aizenman, Chinn, and Ito 2008) and explores some of the unexplored questions. First, we examine the channels through which the trilemma policy configurations affect output volatility. Secondly, we investigate how trilemma policy configurations affect the...
Persistent link: https://www.econbiz.de/10003983276
We investigate the impact of European Union (EU) integration on capital flows to prospective new EU member states. Using annual data between 1992 and 2020, our results suggest that although EU integration increased net capital flows before the Global Financial Crisis (GFC), it was not able to...
Persistent link: https://www.econbiz.de/10014247570