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Measuring and Explaining the Volatility of Capital Flows towards Emerging Countries
Broto, Carmen - 2008
This paper analyzes the determinants of the volatility of different types of capital inflows to emerging countries …. After calculating a variable that proxies capital flows volatility, we study its possible causality relations with a set of …, various factors exhibit a non-robust effect on the volatility of the three different categories of capital flows, which poses …
Persistent link: https://www.econbiz.de/10012723297
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The Study of Saving and Investment Relationship Across 189 Countries : A Panel Data Analysis of the Feldstein-Horioka Puzzle
Zheng, Wenjie - 2023
This paper estimates the domestic saving-investment correlations for 189 countries in the period 1980-2020 to study if the Feldstein-Horioka Puzzle still holds. We construct a panel data regression model with multiple econometric specifications and find a pair of U-shape Patterns in developing...
Persistent link: https://www.econbiz.de/10014344110
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What drives different types of capital flows and their volatilities in developing Asia?
Mercado, Rogelio V. <Jr.>; Park, Cyn-Young - 2011
volatile capital flows and their disruptive potential. This paper aims to identify factors that explain the size and volatility … determinants of capital inflows to developing Asia. Trade openness increases the volatility of all types of capital inflows, while … change in stock market capitalization, global liquidity growth, and institutional quality lowers the volatility. A regional …
Persistent link: https://www.econbiz.de/10011283420
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Do Instabilities in national macroeconomic factors contribute to channeling volatility spillover from the global to the Islamic equity market?
Muharam, Harjum; Najmudin, Najmudin; Mawardi, Wisnu; … - In: Comparative economic research : Central and Eastern Europe 24 (2021) 1, pp. 103-121
This study investigates the impact of macroeconomic instabilities on returns volatility spillover that is transmitted … derive values of volatility for all variables; an asymmetry dynamic conditional correlation (ADCC) model to produce a measure … of volatility spillover as the dependent variable; and a panel data regression technique to assess the causality …
Persistent link: https://www.econbiz.de/10012664825
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Capital flows, EU integration and the global financial crisis : an empirical analysis
Kaya, Ahmet Ihsan; Haan, Jakob de - In: Journal of applied economics 25 (2022) 1, pp. 1025-1049
We investigate the impact of European Union (EU) integration on capital flows to prospective new EU member states. Using annual data between 1992 and 2020, our results suggest that although EU integration increased net capital flows before the Global Financial Crisis (GFC), it was not able to...
Persistent link: https://www.econbiz.de/10014247570
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Financial globalization and economic policies
Kose, M. Ayhan; Prasad, Eswar S.; Rogoff, Kenneth S.; … - 2009
We review the large literature on various economic policies that could help developing economies effectively manage the process of financial globalization. Our central findings indicate that policies promoting financial sector development, institutional quality and trade openness appear to help...
Persistent link: https://www.econbiz.de/10003816538
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Assessing Factors Affecting M&As Versus Greenfield FDI in Emerging Countries
Byun, Hyung-suk - 2014
A host of external (global and regional) and internal (country-specific) factors affect Multinational Enterprises' Foreign Direct Investment (FDI) decisions. Differentiating the two entry modes of FDI (mergers and acquisitions [M&A] and Greenfield investment), this paper aims to empirically...
Persistent link: https://www.econbiz.de/10013064767
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Why Don't Asians Invest in Asia? The Determinants of Cross-Border Portfolio Holdings
García-Herrero, Alicia - 2010
This paper seeks to understand why Asian foreign investment is concentrated in financial markets outside of the region instead of in Asian markets. We analyse empirically the geographical composition of the cross-border portfolio holdings of more than 40 source countries. We compare these...
Persistent link: https://www.econbiz.de/10013152237
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The Role of Foreign Banks in Trade
Claessens, Stijn - 2017
This paper provides new insights into how financial globalization relates to international trade. Exploiting unique, time-varying, bilateral data on foreign bank ownership for many countries, we show that, for emerging markets, greater local foreign bank presence, especially from the importing...
Persistent link: https://www.econbiz.de/10012958963
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The Asymmetric Effect of International Swap Lines on Banks in Emerging Markets
Andries, Alin Marius - 2020
This paper investigates the effect of international swap lines on stock returns using data from banks in emerging markets. The analysis first shows that swap lines by the Swiss National Bank (SNB) had a positive impact on bank stocks in Central and Eastern Europe. It then highlights the...
Persistent link: https://www.econbiz.de/10012856204