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paper presents a simple model on the choice between bank debt and bond finance which builds on Rajan (1992), and it uses two … new datasets to test the implications, focusing on bilateral cross-border bank claims and bond holdings. We find support …
Persistent link: https://www.econbiz.de/10010260449
countries. Concerning fundamentals, the move to a fixed exchange rate regime and an increase in real world interest rates are …
Persistent link: https://www.econbiz.de/10009660970
This paper assesses the extent to which a country s external capital structure can aid in mitigating the macroeconomic impact of oil price shocks. Two Caribbean economies highly vulnerable to oil price shocks are considered: an oil importer (Jamaica) and an oil exporter (Trinidad and Tobago)....
Persistent link: https://www.econbiz.de/10010247919
We analyze a large number of industry- and company-level filings of global institutional investors to provide the first comprehensive estimate of foreign investors' U.S. dollar (USD) security holdings and currency hedging practices. We document four stylized facts. First, driven by increasing...
Persistent link: https://www.econbiz.de/10014544731
borrowing by firms. Global bond portfolios are driven by the currency of denomination of assets as investors prefer to lend in …
Persistent link: https://www.econbiz.de/10014437022
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The study investigates effectiveness of selected credit related macro prudential instruments in reducing the … correlation between economic and credit growth in European emerging countries between 2000 and 2017. Two GMM (Generalized Method … findings confirm our expectation about effectiveness of the selected credit related macroprudential instruments in reducing …
Persistent link: https://www.econbiz.de/10014316659
In contrast to the empirical literature's focus on foreign direct investment (FDI), this study examines the effects of foreign portfolio investment (FPI) and "other" foreign investment (OFI) on economic growth using data on 88 countries from 1977 through 2000. Most measures suggest that FPI has...
Persistent link: https://www.econbiz.de/10014088914