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Financial openness, policy vs. realized outcomes
Bush, Georgia - 2018
This paper examines how the 1990s capital account liberalization policy trend affected international capital flows, and tests a new hypothesis that the depth and efficiency of the domestic financial system impacts the efficacy of capital account policy. The paper exploits a recently published...
Persistent link: https://www.econbiz.de/10011817183
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Globalization and the Increasing Correlation between Capital Inflows and Outflows
Davis, Scott; Van Wincoop, Eric - 2022
127 advanced and developing countries. We provide evidence that this is a result of an increase in financial globalization … (stock of external assets and liabilities). This dominates the effect of an increase in trade globalization (exports plus … shocks we show that the theoretical impact of financial and trade globalization on the correlation between capital inflows …
Persistent link: https://www.econbiz.de/10014048618
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Migration, international trade and capital formation : cause or effect?
Felbermayr, Gabriel; Grossmann, Volker; Kohler, Wilhelm - 2012
technology, globalization tends to lead to convergence. Moreover, under non-convex technology trade and migration tend to be …-enhancing potential. -- migration ; international trade ; capital movements ; capital formation ; globalization …
Persistent link: https://www.econbiz.de/10009663906
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The role of regulatory arbitrage in U.S. Banks' international lending flows : bank-level evidence
Temesvary, Judit - 2015
This paper examines how cross-border differences in the stringency of bank regulations affect U.S. banks' international activities. The analysis relies on a unique bank-level dataset on the globally most active U.S. banks' balance sheet as well as their cross-border, foreign affiliate lending...
Persistent link: https://www.econbiz.de/10011374050
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The determinants of China's international portfolio equity allocations
Agarwal, Isha; Gu, Grace Weishi; Prasad, Eswar S. - 2020
We analyze shifts in the structure of China's capital outflows over the past decade. The composition of gross outflows has shifted from accumulation of foreign exchange reserves by the central bank to nonofficial outflows. Unlocking the enormous pool of domestic savings could have a significant...
Persistent link: https://www.econbiz.de/10012178659
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The determinants of international flows of US currency
Hellerstein, Rebecca; Ryan, William - 2009
This paper examines the determinants of cross-border flows of U.S. dollar banknotes, using a new panel data set of bilateral flows between the United States and 103 countries from 1990 to 2007. We show that a gravity model explains international flows of currency as well as it explains...
Persistent link: https://www.econbiz.de/10003947795
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Capital flow waves : surges, stops, flight, and retrenchment
Forbes, Kristin; Warnock, Francis E. - 2011
This paper analyzes the drivers of international waves in capital flows. We build on the literature on “sudden stops” and “bonanzas” to develop a new methodology for identifying episodes of extreme capital flow movements using quarterly data on gross inflows and gross outflows,...
Persistent link: https://www.econbiz.de/10009579602
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Globalization, inequality, and corruption
Badinger, Harald; Nindl, Elisabeth - 2012
Persistent link: https://www.econbiz.de/10009622260
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Global value chains and effective exchange rates at the country-sector level
Patel, Nikhil; Wang, Zhi; Wei, Shang-jin - 2017
The real effective exchange rate (REER) is one of the most cited statistical constructs in open-economy macroeconomics. We show that the models used to compute these numbers are not rich enough to allow for the rising importance of global value chains. Moreover, because different sectors within...
Persistent link: https://www.econbiz.de/10011772161
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Thresholds in the process of international financial integration
Kose, M. Ayhan; Prasad, Eswar S.; Taylor, Ashley D. - 2009
The financial crisis has re-ignited the fierce debate about the merits of financial globalization and its implications …
Persistent link: https://www.econbiz.de/10003831857