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Globalization and the Increasing Correlation between Capital Inflows and Outflows
Davis, Scott; Van Wincoop, Eric - 2022
127 advanced and developing countries. We provide evidence that this is a result of an increase in financial globalization … (stock of external assets and liabilities). This dominates the effect of an increase in trade globalization (exports plus … shocks we show that the theoretical impact of financial and trade globalization on the correlation between capital inflows …
Persistent link: https://www.econbiz.de/10014048618
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Barriers to Global Capital Allocation
Pellegrino, Bruno; Spolaore, Enrico; Wacziarg, Romain T. - 2021
benchmark calibration, we estimate that the capital misallocation induced by these barriers reduces World GDP by 7%, compared to …-country inequality: the standard deviation of log capital per employee is 80% higher than it would be in a world without barriers to …
Persistent link: https://www.econbiz.de/10013242281
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The determinants of China's international portfolio equity allocations
Agarwal, Isha; Gu, Grace Weishi; Prasad, Eswar S. - 2020
We analyze shifts in the structure of China's capital outflows over the past decade. The composition of gross outflows has shifted from accumulation of foreign exchange reserves by the central bank to nonofficial outflows. Unlocking the enormous pool of domestic savings could have a significant...
Persistent link: https://www.econbiz.de/10012178659
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International Financial Flows, Real Exchange Rates and Cross-Border Insurance
Viani, Francesca - 2011
Whether cross-border financial market integration has raised global insurance, is still a controversial issue in the literature. If this is so, what should we observe in the data? The insurance literature emphasizes that efficient risk-sharing requires financial markets to channel resources to...
Persistent link: https://www.econbiz.de/10013131344
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The Cyclicality of (Bilateral) Capital Inflows and Outflows
Davis, Scott - 2017
behavior of aggregate capital inflows and outflows (capital flows between a country and the rest of the world). This paper …
Persistent link: https://www.econbiz.de/10012970794
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A Simple Test of the Role of Foreign Direct Investments in the Feldstein-Horioka Puzzle
Zanghieri, Paolo - 2006
The purpose of this paper is to test the dependency of domestic investment on domestic saving in the Feldstein-Horioka spirit. Our innovation is to use a de nition of investment that does not include foreign direct investment. We do so since FDI should not be considered in the intertemporal...
Persistent link: https://www.econbiz.de/10012779916
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Uncertainty Shocks, Capital Flows, and International Risk Spillovers
Akinci, Ozge; Kalemli-Ozcan, Sebnem; Queralto, Albert - National Bureau of Economic Research - 2022
Foreign investors' changing appetite for risk-taking have been shown to be a key determinant of the global financial cycle. Such fluctuations in risk sentiment also correlate with the dynamics of UIP premia, capital flows, and exchange rates. To understand how these risk sentiment changes...
Persistent link: https://www.econbiz.de/10013210054
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Foreign Capital and Economic Growth
Prasad, Eswar S.; Rajan, Raghuram G.; Subramanian, Arvind - 2021
We document the recent phenomenon of uphill flows of capital from nonindustrial to industrial countries and analyze whether this pattern of capital flows has hurt growth in nonindustrial economies that export capital. Surprisingly, we find that there is a positive correlation between current...
Persistent link: https://www.econbiz.de/10013316680
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Credit Default Swaps Around the World : Investment and Financing Effects
Bartram, Söhnke M. - 2019
We analyze the impact of the introduction of credit default swaps (CDS) on real decision making within the firm, taking into consideration differences in firms' local economic and legal environments. We extend the model of Bolton and Oehmke (2011) to take into account uncertainty whether the...
Persistent link: https://www.econbiz.de/10012898441
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Credit Default Swaps Around the World : Investment and Financing Effects
Bartram, Söhnke M. - 2019
We analyze the impact of the introduction of credit default swaps (CDS) on real decision making within the firm, taking into consideration differences in firms' local economic and legal environments. We extend the model of Bolton and Oehmke (2011) to take into account uncertainty whether the...
Persistent link: https://www.econbiz.de/10012899631