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Do Surges in International Capital Inflows Influence the Likelihood of Banking Crises? Cross-Country Evidence on Bonanzas in Capital Inflows and Bonanza-Boom-Bust Cycles
Caballero, Julián - 2012
This paper asks whether bonanzas (surges) in net capital inflows increase the probability of banking crises and whether this is necessarily through a lending boom mechanism. A fixed effects regression analysis indicates that a baseline bonanza, identified as a surge of one standard deviation...
Persistent link: https://www.econbiz.de/10013104035
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Rethinking Capital Flows for Emerging East Asia
Grenville, Stephen - 2012
Since the 1980s, emerging countries have been urged to welcome foreign capital inflows. The result has often been a pattern of surges, where excessive inflows were followed by damaging 'sudden stops' and reversals. What is needed is a strategy that makes use of the potential benefits of capital...
Persistent link: https://www.econbiz.de/10013104619
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Two-Way Capital Flows and Global Imbalances : A Neoclassical Approach
Wen, Yi - 2012
simultaneously attracting foreign direct investment (FDI) on the other. When calibrated to match China's high marginal product of … "saving glut" of emerging economies is responsible for the low world interest rate …
Persistent link: https://www.econbiz.de/10013104777
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Policy Uncertainty Spillovers to Emerging Markets - Evidence from Capital Flows
Gauvin, Ludovic - 2013
We study the extent to which uncertainty in advanced country macroeconomic policy spills over to emerging markets via portfolio bond and equity flows. We find that increases in US policy uncertainty significantly reduce portfolio bond and equity flows into EMEs. Conversely, increases in EU...
Persistent link: https://www.econbiz.de/10013081171
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Central Banking in Africa : Prospects in a Changing World
Caruana, Jaime - 2013
Governors and senior officials representing some two dozen central banks from Africa and other regions of the world met at the BIS in May 2011 to discuss the monetary policy and financial stability issues facing Africa after the global financial crisis. This volume brings together the background...
Persistent link: https://www.econbiz.de/10013092071
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International Reserves and Gross Capital Flow Dynamics
Alberola, Enrique - 2015
This paper explores the role of international reserves as a stabiliser of international capital flows, in particular during periods of global financial stress. In contrast with previous contributions, aimed at explaining net capital flows, we focus on the behaviour of gross capital flows. We...
Persistent link: https://www.econbiz.de/10013014490
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Are All Types of Capital Flows Driven by the Same Factors? Evidence from Mexico
Ibarra Ramírez, Raúl - 2018
investment by foreign residents in Mexican public and private sector securities, as well as investment by domestic residents in …-2015. We find that an increase in the foreign interest rate leads to lower portfolio investment, particularly in Mexican public … sector securities. An increase in global risk generates lower portfolio investment, particularly in private sector securities …
Persistent link: https://www.econbiz.de/10012926325
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Capital Flows are Fickle : Anytime, Anywhere
Bluedorn, John C. - 2013
Has the unprecedented financial globalization of recent years changed the behavior of capital flows across countries? Using a newly constructed database of gross and net capital flows since 1980 for a sample of nearly 150 countries, this paper finds that private capital flows are typically...
Persistent link: https://www.econbiz.de/10013076315
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FDI Flows and Sudden Stops in Small Open Economies
Villalvazo, Sergio - 2020
Account uncovers important differences between both groups of economies in the Foreign Direct Investment (FDI) flows: the …
Persistent link: https://www.econbiz.de/10012839097