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Barriers to global capital allocation
Pellegrino, Bruno; Spolaore, Enrico; Wacziarg, Romain - 2024
Observed international investment positions and cross-country heterogeneity in rates of return to capital are hard to reconcile with frictionless capital markets. In this paper, we develop a theory of international capital allocation: a multi-country dynamic spatial general equilibrium model in...
Persistent link: https://www.econbiz.de/10015070015
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Barriers to global capital allocation
Pellegrino, Bruno; Spolaore, Enrico; Wacziarg, Romain - 2021
We quantify the impact of barriers to international investment, using a novel multi-country dynamic general equilibrium model with heterogeneous investors and imperfect capital mobility. Our model yields a gravity equation for bilateral foreign asset positions. We estimate this gravity equation...
Persistent link: https://www.econbiz.de/10012514947
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Barriers to Global Capital Allocation
Pellegrino, Bruno; Spolaore, Enrico; Wacziarg, Romain T. - 2021
We quantify the impact of barriers to international investment, using a novel multi-country dynamic general equilibrium model with heterogeneous investors and imperfect capital mobility. Our model yields a gravity equation for bilateral foreign asset positions. We estimate this gravity equation...
Persistent link: https://www.econbiz.de/10013226659
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Global Recession to Global Recovery : Macro and Micro Dynamics of Trade, Finance and Investment
Chugan, Pawan K. - 2012
It is well known fact that all good things, as also bad things, come to an end and business cycles pass through good and bad economic times. Economically 2010 was a year of transition from economic recession to recovery. Economies were improving in some countries and industries were showing...
Persistent link: https://www.econbiz.de/10013110884
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Globalization and the Increasing Correlation between Capital Inflows and Outflows
Davis, Scott; Van Wincoop, Eric - 2022
127 advanced and developing countries. We provide evidence that this is a result of an increase in financial globalization … (stock of external assets and liabilities). This dominates the effect of an increase in trade globalization (exports plus … shocks we show that the theoretical impact of financial and trade globalization on the correlation between capital inflows …
Persistent link: https://www.econbiz.de/10014048618
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Barriers to global capital allocation
Pellegrino, Bruno; Spolaore, Enrico; Wacziarg, Romain - 2024
Observed international investment positions and cross-country heterogeneity in rates of return to capital are hard to reconcile with frictionless capital markets. In this paper, we develop a theory of international capital allocation: a multi-country dynamic spatial general equilibrium model in...
Persistent link: https://www.econbiz.de/10015072829
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Barriers to Global Capital Allocation
Pellegrino, Bruno; Spolaore, Enrico; Wacziarg, Romain - National Bureau of Economic Research - 2021
We quantify the impact of barriers to international investment, using a novel multi-country dynamic general equilibrium model with heterogeneous investors and imperfect capital mobility. Our model yields a gravity equation for bilateral foreign asset positions. We estimate this gravity equation...
Persistent link: https://www.econbiz.de/10012510572
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Bilateral capital flows : gravity, push, and pull
Mercado, Rogelio V. <Jr.> - In: Bridging measurement challenges and analytical needs of …, (pp. 1-33, 1-15). 2020
Persistent link: https://www.econbiz.de/10012387703
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Bilateral capital flows : gravity, push and pull
Mercado, Rogelio V. <Jr.> - 2018 - Version date: 30 August 2018
Persistent link: https://www.econbiz.de/10011898925
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The determinants of China's international portfolio equity allocations
Agarwal, Isha; Gu, Grace Weishi; Prasad, Eswar S. - 2020
We analyze shifts in the structure of China's capital outflows over the past decade. The composition of gross outflows has shifted from accumulation of foreign exchange reserves by the central bank to nonofficial outflows. Unlocking the enormous pool of domestic savings could have a significant...
Persistent link: https://www.econbiz.de/10012178659