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with their issuer’s ultimate parent and restate bilateral investment positions to better reflect the financial linkages … connecting countries around the world. Portfolio investment from developed countries to firms in large emerging markets is … currency composition of external portfolio liabilities and the nature of foreign direct investment. Finally, we provide …
Persistent link: https://www.econbiz.de/10014351933
How does exposure to international markets affect returns and cash flow comovements? Foreign bond owners, lenders, affiliates, investors, customers, and suppliers all transmit country shocks to companies. Most multinationals have many of these exposures simultaneously within the same foreign...
Persistent link: https://www.econbiz.de/10014444427
We study the impact of foreign banks' presence in Central and Eastern Europe's countries on their economic development and on the financial crisis they went through. We show that, despite a certain vulnerability of the domestic banking systems, the consequences of the opening of the banking...
Persistent link: https://www.econbiz.de/10008543042
Following the WW II, the global economic evolution is more and more marked by the relevant dynamic of the commercial trades that had become the core of the economic development both for the developed countries and for the emerging economies. The average annual growth rhythm of the international...
Persistent link: https://www.econbiz.de/10008471873
The causes of 2007’s financial perturbations and mainly of the subprime crisis are well known at the beginning of 2008. Nevertheless, the specialists pay little attention to capital markets global crisis and to its consequences. In this study, we demonstrate that we are already in the middle...
Persistent link: https://www.econbiz.de/10005091165
Real exchange and interest rates may still fluctuate inside the EMU and give rise to changes in competitiveness. We find, in contrast to what is generally expected, no convergence in these variables after the introduction of the euro. On the contrary, a divergence is found that is extraordinary...
Persistent link: https://www.econbiz.de/10005419554
We analyze producer price developments in the transition from a national exchange rate regime to a monetary union. The focus is on the European Economic and Monetary Union (EMU). Stylized facts witness about an exploding gaps in producer-price inflation during the years immediately following the...
Persistent link: https://www.econbiz.de/10005645348
The process of globalization encompasses economic and financial integration. Abolition of capital controls and dismantling of barriers of different kinds are important ingredients of the process that will entirely change the exposure of previously sheltered companies to shocks on the global...
Persistent link: https://www.econbiz.de/10005645385
Canadian financial institutions played an important role in the development of financial markets within Colombia´s urban centers. Specifically, insurance companies such as Manufacturers Life Insurance Company and Life Assurance Company of Canada were crucial in the expansion of the insurance...
Persistent link: https://www.econbiz.de/10010772933