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Financial globalization has increased dramatically over the past three decades, particularly for advanced economies, while emerging market and developing countries experienced more moderate increases. Divergences across countries stem from different capital control regimes, and factors such as...
Persistent link: https://www.econbiz.de/10010790496
This study provides a candid, systematic, and critical review of recent evidence on this complex subject. Based on a review of the literature and some new empirical evidence, it finds that (1) in spite of an apparently strong theoretical presumption, it is difficult to detect a strong and robust...
Persistent link: https://www.econbiz.de/10005590880
The paper shows that Asia's degree of financial integration, both with the world and within the region remains low by various measures. The paper also provides empirical evidence that greater financial integration can support economic rebalancing in statistically meaningful ways. The implication...
Persistent link: https://www.econbiz.de/10009369446
This paper examines the institutional and macroeconomic determinants of stock market development using a panel data of …
Persistent link: https://www.econbiz.de/10005263854
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
This paper examines empirically the determinants of financial market development in Africa with an emphasis on banking systems and stock markets. The results show that income level, creditor rights protection, financial repression, and political risk are the main determinants of banking sector...
Persistent link: https://www.econbiz.de/10008528658
Persistent link: https://www.econbiz.de/10009124859
The paper uses a unique database covering 44 countries in sub-Saharan Africa (SSA) countries between 2000 and 2007 to study the determinants of the allocation and composition of flows across countries, as well as channels through which private capital flows could affect growth. In our sample,...
Persistent link: https://www.econbiz.de/10008528679
Over the past decade, South Africa has attracted relatively little foreign direct investment (FDI), but considerable … dynamic panel for up to 81 emerging markets using GMM (Generalized Method of Moments) techniques. The results suggest that … further trade and capital control liberalization would increase the share of FDI. Additionally, a reduction in exchange rate …
Persistent link: https://www.econbiz.de/10005826511
Persistent link: https://www.econbiz.de/10012820721