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unidirectional causality from the US GDP to Japan, Taiwan, Korea, and China. But the slump in the US stock price indices will cause … the stock market recession in Japan, Korea, and Taiwan, but not China …
Persistent link: https://www.econbiz.de/10013125445
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This BIS Paper (No. 68) is a collection of essays focusing on the drivers and effects of capital flows and the challenges they pose for the implementation of monetary and other policies. The collection draws on selected presentations made at the BIS-sponsored sessions at the Latin American and...
Persistent link: https://www.econbiz.de/10013088048
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Foreign Direct Investment (FDI) has been growing rapidly, at a pace far exceeding the growth in international trade. Thus, a full understanding of the relationship between trade in goods and FDI is important for obtaining a complete picture of the extent and sources of international linkages. We...
Persistent link: https://www.econbiz.de/10012735726
In this paper we investigate how income growth rates in one country are affected by growth rates in partner countries, testing for the importance of pairwise country links as well as characteristics of the receiving country (trade and financial open- ness, exchange rate regime, fiscal...
Persistent link: https://www.econbiz.de/10011636280
We analyze the second-moment properties of the components of international capital flows and their relationship to business cycle variables (output, investment, and real interest rate) in 22 industrial and emerging countries. Total inward flows are procyclical with respect to all three macro...
Persistent link: https://www.econbiz.de/10012712571
While there is a consensus on the expanding importance of the China-Africa economic relationship, there is much more … debate on how to portray the relationship. Thus, this study is aimed to examine the impacts of the China-Africa trade and …-2017. Drawing on complementary theoretical perspectives, this study took into account the conditional effect of China-Africa trade …
Persistent link: https://www.econbiz.de/10012295761
This study readdresses the determinants of business cycle synchronisation. We test, on the one hand, whether FDI promoting policies may have consequences for the business cycle comovement between countries, and on the other hand, whether more plausible identification strategies change previous...
Persistent link: https://www.econbiz.de/10010519622
A considerable degree of business cycle synchronization is key to a successful operating currency union. The European Monetary Union as well as many other countries strives to attract foreign direct investment (FDI) because of its reputation as being highly beneficial for the host economy. But...
Persistent link: https://www.econbiz.de/10010432451