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powerful Financial Stability Board, and augmenting the financial resources of the IMF. However, the international financial … architecture remains inadequate for the needs of many emerging market economies. The effectiveness of IMF surveillance …) debt restructuring, and on the cross-border resolution of insolvent, internationally active financial firms for fair burden …
Persistent link: https://www.econbiz.de/10003901587
provide a comprehensive database covering four elements of the GFSN (foreign exchange reserves, IMF financing, central bank …
Persistent link: https://www.econbiz.de/10011565481
(i.e., debt-to-asset ratios are specific to each borrower and time-varying). I model and parameterize these ratios … the source of debt which is most sensitive to shocks is foreign funding. In fact, any shock creates a wedge between the …
Persistent link: https://www.econbiz.de/10010316721
The level, tenor and instability of capital flows from global financial markets towards developing countries are a major source of concern for macroeconomic managers, while their causes remain largely unexplained by economic theory. Country ‘fundamentals’ (such as economic growth, monetary...
Persistent link: https://www.econbiz.de/10010284820
The paper presents a comprehensive survey of the ‘shopping list’ of sources of external finance that are directly channelled to the business sector of developing countries. Generally, our analytical survey covers the 1970-2000 period, and includes the distribution of foreign resources...
Persistent link: https://www.econbiz.de/10010279348
We examine the determinants of capital flows to four developing countries during the 1990s using an explicitly disequilibrium econometric framework in which the supply and demand for capital are not necessarily equal and the actual amount of the flow is determined by the 'short side' of the...
Persistent link: https://www.econbiz.de/10013317909
Target-Kredite im Eurosystem – Die Stellungnahmen der Bundesbank – Was sind Target-Salden? – Kreditverlagerung – Zur ökonomischen Interpretation der Kreditverlagerung – Target-Kredite, Leistungsbilanz und Kapitalverkehr – Fünf vor zwölf – Target-Salden in den USA – Anhang:...
Persistent link: https://www.econbiz.de/10011693126
powerful Financial Stability Board, and augmenting the financial resources of the IMF. However, the international financial … architecture remains inadequate for the needs of many emerging market economies. The effectiveness of IMF surveillance …) debt restructuring, and on the cross-border resolution of insolvent, internationally active financial firms for fair burden …
Persistent link: https://www.econbiz.de/10010279852
This paper presents VAR results on the recent economic history of the USand focuses on the dependence of US macro financial variables on international capital flows. Both gross and net flows are included in the analysis. The results indicate that cross-border funding has affected the build-up in...
Persistent link: https://www.econbiz.de/10010532072
This paper examines the relationship between low interests maintained by advanced economy central banks and credit booms in emerging economies. In a model with crossborder banking, low funding rates increase credit supply, but the initial shock is amplified through the risk-taking channel of...
Persistent link: https://www.econbiz.de/10013064175