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What Makes Developing Asia Resilient in a Financially Globalized World?

Ito, Hiro - 2010

brought renewed attention to the role and benefits of financial globalization. A number of notable distinctions between the …

Persistent link: https://www.econbiz.de/10013142096

The Financial Crisis, Rethinking of the Global Financial Architecture, and the Trilemma

Aizenman, Joshua - 2010

This paper extends our previous paper (Aizenman, Chinn, and Ito 2008) and explores some of the unexplored questions. First, we examine the channels through which the trilemma policy configurations affect output volatility. Secondly, we investigate how trilemma policy configurations affect the...

Persistent link: https://www.econbiz.de/10013144649

The Geographic Distribution of International Currencies and RMB Internationalization

Korhonen, Iikka - 2019

The paper investigates the determinants of geographical distribution of international currencies in global financial market transactions. We implement a gravity model, in which international currency distribution depends on the characteristics of the source and destination countries. We find...

Persistent link: https://www.econbiz.de/10012903502

Financial Deepening and International Monetary Stability

Goyal, Rishi - 2019

Recent discussions at the IMF and the G-20 on strengthening the international monetary system have emphasized, among other efforts, increasing the financial depth of emerging markets. Such deepening is widely believed to confer important stability benefits, helping countries limit swings in...

Persistent link: https://www.econbiz.de/10012871908

Globalization and Asset Returns

Bekaert, Geert - 2016

We provide a comprehensive analysis of the impact of economic and financial globalization on asset return comovements … over the past 35 years. Our globalization indicators draw a distinction between de jure openness that results from changes … different asset classes. Although globalization has trended positively for most of our sample, the global financial crisis and …

Persistent link: https://www.econbiz.de/10012984374

Reforming the global monetary non-system

Ocampo Gaviria, José Antonio - 2015

This paper proposes a comprehensive yet evolutionary reform of the global monetary non-system that evolved out of the breakdown of the original Bretton Woods arrangement in the early 1970s. It includes: (i) a global reserve system that mixes the multi-currency arrangement with an active use of...

Persistent link: https://www.econbiz.de/10011417842

When countries do not do what they say : systematic discrepancies between exchange rate regime announcements and de facto policies

Bersch, Julia; Klüh, Ulrich - 2007

discrepancies have followed secular trends, which are most likely related to financial globalization and changes in monetary policy …

Persistent link: https://www.econbiz.de/10003951455

Trilemma and Financial Stability Configurations in Asia

Aizenman, Joshua - 2011

This paper takes stock of recent research dealing with the degree to which the trilemma choices of Asian countries facilitated a smoother adjustment during the global crisis of 2008–2009, and the way the region has been coping with the adjustment to the post-crisis challenges. We point out...

Persistent link: https://www.econbiz.de/10013118911

Global Financial Cycles Since 1880

Potjagailo, Galina - 2020

With the aim to provide a detailed understanding of global financial cycles and their relevance over time, we analyse co-movement in credit, house prices, equity prices, and interest rates across 17 advanced economies over 130 years. Using a time-varying dynamic factor model, we observe global...

Persistent link: https://www.econbiz.de/10012832636

Global financial cycles since 1880

Potjagailo, Galina; Wolters, Maik H. - 2019

globalization from 1880 to 1913 and the Great Depression. We find that joint global dynamics across various financial quantities and …

Persistent link: https://www.econbiz.de/10011987786