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Philippines.Design/Methodology/Approach: Using a parsimonious SVARX-GARCH model and unique daily equity flow data this research … investors are trend chasers and equity flows are auto correlated. We confirm these finding in the Philippines. We also document … two new and important findings. First, we find that unexpected increases in foreign equity flows to the Philippines …
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We revisit medium- to long-run exchange rate determination, focusing on the role of international investment positions. To do so, we make use of a new econometric framework accounting for conditional long-run homogeneity in heterogeneous dynamic panel data models. In particular, in our model the...
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