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Regional Integration of Stock Exchanges in Eastern and Southern Africa; Progress and Prospects

Irving, Jacqueline - International Monetary Fund (IMF) - 2005

This paper assesses whether regional cooperation and integration of stock exchanges in eastern and southern Africa could offer a way of overcoming impediments to the exchanges' development. The paper concludes that regional cooperation and, at a later stage, integration, if carried out at the...

Persistent link: https://www.econbiz.de/10005263689

Malaysian Capital Controls; Macroeconomics and Institutions

Tamirisa, Natalia T.; Johnson, Simon; Kochhar, Kalpana; … - International Monetary Fund (IMF) - 2006

We analyze the capital controls imposed in Malaysia in September 1998. In macroeconomic terms, these controls neither yielded major benefits nor were costly. At the same time, the stock market interpreted the capital controls (and associated events) as favoring firms with stronger political...

Persistent link: https://www.econbiz.de/10005263746

Capital Account Liberalization and Financial Sector Stability

International Monetary Fund (IMF); International … - 2002

Persistent link: https://www.econbiz.de/10005824821

International Capital Crunches; The Time-Varying Role of Informational Asymmetries

Mody, Ashoka; Taylor, Mark P. - International Monetary Fund (IMF) - 2002

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/10005825608

Short-Run Pain, Long-Run Gain; The Effects of Financial Liberalization

Schmukler, Sergio L.; Kaminsky, Graciela Laura - International Monetary Fund (IMF) - 2003

We examine the short- and long-run effects of financial liberalization on capital markets. To do so, we construct a new comprehensive chronology of financial liberalization in 28 mature and emerging market economies since 1973. We also construct an algorithm to identify booms and busts in stock...

Persistent link: https://www.econbiz.de/10005826221

Portfolio Flows Into India; Do Domestic Fundamentals Matter?

Gupta, Poonam; Gordon, James P. F. - International Monetary Fund (IMF) - 2003

This paper analyzes the factors affecting portfolio equity flows into India using monthly data. Flows to India are small compared to other emerging markets, but seem to be relatively less volatile. They also seem to be quite resilient. The paper shows that portfolio flows are determined by both...

Persistent link: https://www.econbiz.de/10005826441

Bond Markets As Conduits for Capital Flows; How Does Asia Compare?

Luengnaruemitchai, Pipat; Eichengreen, Barry J. - International Monetary Fund (IMF) - 2006

We use data on the extent to which residents of one country hold the bonds of issuers resident in another as a measure … case in which the purchaser and issuer of the bonds reside in different regions. Not surprisingly, we find that Europe is … participation in local markets and to intraregional cross holdings of Asian bonds generally. Further results based on a limited …

Persistent link: https://www.econbiz.de/10005769016

India's Financial Globalisation

Patnaik, Ila; Shah, Ajay - International Monetary Fund (IMF) - 2011

India embarked on reintegration with the world economy in the early 1990s. At first, a certain limited opening took place emphasising equity flows by certain kinds of foreign investors. This opening has had myriad interesting implications in terms of both microeconomics and macroeconomics. A...

Persistent link: https://www.econbiz.de/10008839328

A stronger union through crisis? 25 years of monetary integration in Europe

Fichtner, Ferdinand; König, Philipp - In: DIW Economic Bulletin 5 (2015) 27, pp. 376-384

On July 1, 1990, when capital controls in the European Economic Community were removed, the path was paved for the introduction of the euro. This path was marked by a compromise between two schools of thought-those who assumed that the creation of the European Central Bank would be followed by...

Persistent link: https://www.econbiz.de/10011288339

Über die Krise zur Einheit? 25 Jahre monetärer Integrationsprozess in Europa

Fichtner, Ferdinand; König, Philipp - In: DIW Wochenbericht 82 (2015) 27, pp. 639-647

Am 1. Juli 1990 wurde mit dem Wegfall der Kapitalverkehrskontrollen in der Europäischen Wirtschaftsgemeinschaft die erste Stufe auf dem Weg zum Euro genommen. Der Weg dorthin war auch durch einen Kompromiss zwischen zwei Denkschulen gekennzeichnet - derjenigen, die davon ausging, dass der...

Persistent link: https://www.econbiz.de/10011288345

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