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Capitals controls and macroprudential measures : what are they good for?
Forbes, Kristin; Fratzschner, Marcel; Straub, Roland - 2013
Are capital controls and macroprudential measures successful in achieving their objectives? Assessing their effectiveness is complicated by selection bias and endogeneity; countries which change their capital-flow management measures (CFMs) often share specific characteristics and are responding...
Persistent link: https://www.econbiz.de/10010221772
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The Macroeconomic Effects of Large Exchange Rate Appreciations
Kappler, Marcus - 2011
export growth slows down substantially, while imports remain by and large unaffected. The output costs of appreciation are …
Persistent link: https://www.econbiz.de/10013128677
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Role of Trade and Macroeconomic Policies in the Performance of Special Economic Zones (SEZS)
Morris, Sebastian - 2011
anticipated that the results would vary greatly. Earlier avatars of SEZs in the form of Foreign Trade Zones (FTZs) and Export … Promotion Zones (EPZs) were important in the export led growth of east Asia especially South Korea. But more than SEZs or EPZs … per se it is the pursuit of “export led growth policies” which underlie the success of exporting and hence of SEZs. SEZz …
Persistent link: https://www.econbiz.de/10013130507
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Impact of the Monetary Policy Instruments on Islamic Stock Market Index Return
Albaity, Mohamed S. - 2011
Previous studies found that Islamic stock market index in Malaysia (KLSI), does not react, or react negatively to interest rate, although one of the main criteria of Islamic finance is to avoid business and activities that yield interest because of its prohibition in Islamic laws. On the other...
Persistent link: https://www.econbiz.de/10013117432
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Do Inflows or Outflows Dominate? Global Implications of Capital Account Liberalization in China
Bayoumi, Tamim - 2013
This paper assesses the implications of Chinese capital account liberalization for capital flows. Stylized facts from capital account liberalization in advanced and large emerging market economies illustrate that capital account liberalization has historically generated large gross capital in-...
Persistent link: https://www.econbiz.de/10013075542
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Thresholds in the Process of International Financial Integration
Kose, M. Ayhan - 2009
The financial crisis has re-ignited the fierce debate about the merits of financial globalization and its implications for growth, especially for developing countries. The empirical literature has not been able to conclusively establish the presumed growth benefits of financial integration....
Persistent link: https://www.econbiz.de/10013160313
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UK Policy Uncertainty, Monetary Policy Stance and Exchange Rates in Light of Brexit
Ellington, Michael - 2018
This paper assesses the impact of economic policy uncertainty to UK monetary policy stance and exchange rate movements in light of the UK's decision to leave the European Union. Our results show that the economic significance of exchange rate movements heightens during the Referendum period. We...
Persistent link: https://www.econbiz.de/10012911664
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The Globalization Risk Premium
Barrot, Jean-Noel - 2018
We investigate how globalization is reflected in asset prices. We use shipping costs to measure firms' exposure to globalization. Firms in low shipping cost industries carry a 7 percent risk premium, suggesting that their cash-flows covary negatively with investors' marginal utility. We find...
Persistent link: https://www.econbiz.de/10012937373
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Role of Trade and Macroeconomic Policies in the Performance of Special Economic Zones (SEZs)
Morris, Sebastian - 2018
anticipated that the results would vary greatly. Earlier avatars of SEZs in the form of Foreign Trade Zones (FTZs) and Export … Promotion Zones (EPZs) were important in the export led growth of east Asia especially South Korea. But more than SEZs or EPZs … per se it is the pursuit of “export led growth policies” which underlie the success of exporting and hence of SEZs. SEZz …
Persistent link: https://www.econbiz.de/10012937555
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The Costs of (Sub)Sovereign Default Risk : Evidence from Puerto Rico
Chari, Anusha - 2017
Puerto Rico's unique characteristics as a U.S. territory allow us to examine the channels through which (sub)sovereign default risk can have real effects on the macroeconomy. Post-2012, during the period of increased default probabilities, the cointegrating relationship between real activity in...
Persistent link: https://www.econbiz.de/10012942032