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Barriers to global capital allocation
Pellegrino, Bruno; Spolaore, Enrico; Wacziarg, Romain - 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/10012514947
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World Market Integration Through the Lens of Foreign Direct Investors
Albuquerque, Rui A. - 2014
). We construct a globalization measure that equals the share of explained variation in direct investment attributable to … global factors. We show that our globalization measure has increased steadily for developing and developed countries. For the … full sample of countries, the globalization measure rose by over ten-fold from 1985 to 1999. Furthermore, in recent years …
Persistent link: https://www.econbiz.de/10013039662
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Foreign Direct Investment and International Stock Market Integration
Shi, Jing - 2011
This paper examines whether foreign direct investment between countries fosters stock market integration. Empirical tests demonstrate that both the flow and the level of bilateral foreign direct investment between countries explain country-pair stock market integration. More specifically, higher...
Persistent link: https://www.econbiz.de/10013127791
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FDI in the Banking Sector
de Blas, Beatriz - 2010
When countries open their financial sectors, foreign-owned banks appear to bring superior efficiency to their host markets but also charge higher markups on borrowed funds than their domestically owned rivals, with unknown impacts on interest rates and welfare. Using heterogeneous, imperfectly...
Persistent link: https://www.econbiz.de/10013139992
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Sovereigns and Financial Intermediaries Spillovers
Tabarraei, Hamid - 2019
We examine the spillover effects between sovereigns and banks in a model with a heterogeneous banking system. An increase in sovereign's default risk affects financial intermediaries through two channels in this model. First, banks' funding costs might increase, inducing higher interest rates on...
Persistent link: https://www.econbiz.de/10012889148
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Foreign and Domestic Investment in Global Bond Markets
Park, Donghyun - 2018
Gauging foreign (domestic) biases as the deviation of foreign (domestic) investors' actual portfolio allocation of a bond market from the same bond market's weight in global bond market, we investigate the determinants of foreign and domestic investment biases in 41 global bond markets. We find...
Persistent link: https://www.econbiz.de/10012917758
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International capital flows at the security level : evidence from the ECB's Asset Purchase Programme
Bergant, Katharina; Fidora, Michael; Schmitz, Martin - 2020
We analyse euro area investors' portfolio rebalancing during the ECB's Asset Purchase Pro- gramme at the security level. Based on net transactions of domestic and foreign securities, we observe euro area sectors' capital ows into individual securities, cleaned from valuation effects. Our...
Persistent link: https://www.econbiz.de/10012197845
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Foreign and domestic investment in global bond markets
Park, Donghyun; Taniguchi, Kiyoshi; Tian, Shu - 2018
Gauging foreign (domestic) biases as the deviation of foreign (domestic) investors' actual portfolio allocation of a bond market from the same bond market's weight in global bond market, we investigate the determinants of foreign and domestic investment biases in 41 global bond markets. We find...
Persistent link: https://www.econbiz.de/10011791937
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The storm-impervious financial sector : offshore services likely booked abroad
Miethe, Jakob - In: DIW weekly report : economy, politics, science : a … 10 (2020) 43/45, pp. 435-443
The high international capital positions of offshore financial centers (OFCs) have led to increasing research in the area. However, many unanswered questions remain, as OFC activities are secretive by nature and data is sparse. It is, for example, not even clear whether the financial industry...
Persistent link: https://www.econbiz.de/10012319186
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Exportweltmeister : Germany's foreign investment returns in international comparison
Hünnekes, Franziska; Konradt, Maximilian; Schularick, … - 2023 - Revised version: April 2023
In the past decade, Germany has been the world champion in exporting capital (“Exportweltmeister”). No other country …
Persistent link: https://www.econbiz.de/10014276058