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The 1997-99 financial crises in the emerging markets have brought to the foreground the concern about offshore investment funds and their possible role in exacerbating volatility in the markets they invest in. Offshore investment funds are alleged to engage in trading behaviors that are...
Persistent link: https://www.econbiz.de/10013221512
In the UK's 2016 referendum on EU membership, young voters were more likely than their elders to vote Remain. Applying new methods to a half century of data, we show that this pattern reflects both ageing and cohort effects. Although voters become more Eurosceptical as they age, recent cohorts...
Persistent link: https://www.econbiz.de/10012908473
As domestic sources of outside finance are limited in many countries around the world, it is important to understand the factors that influence whether foreign outside investors provide capital to a country's firms. This study examines whether and why investor concern about corporate governance...
Persistent link: https://www.econbiz.de/10012761576
We examine how emerging market (EM) investors allocate their stock portfolios internationally. Using both country-level and institution-level data, we find that the coming wave of EM investors systematically over- and under-weight their holdings in some target countries. These abnormal foreign...
Persistent link: https://www.econbiz.de/10013013182
We analyze reallocations within the international bond portfolios of US investors. The most striking empirical observation is a steady increase in US investors' allocations toward emerging market local currency bonds, unabated by the global financial crisis and accelerating in the post-crisis...
Persistent link: https://www.econbiz.de/10013045646
firm level. We apply this method to estimate the impact of Brexit-related uncertainty and find widespread reverberations on … listed firms in 81 countries. International firms most exposed to Brexit uncertainty not only significantly lost market value … but also reduced hiring and investments. In addition to Brexit uncertainty (the second moment), we find that international …
Persistent link: https://www.econbiz.de/10013324715
We use a major new survey of UK firms, the Decision Maker Panel, to assess the impact of the June 2016 Brexit …-lasting increase in uncertainty. Second, anticipation of Brexit is estimated to have gradually reduced investment by about 11% over the … referendum, suggesting that the size and persistence of this uncertainty may have delayed firms' response to the Brexit vote …
Persistent link: https://www.econbiz.de/10012863281
This paper presents new evidence on international trade and worker outcomes. It examines a big world event that produced an unprecedentedly large shock to the UK exchange rate. In the 24 hours in June 2016 during which the UK electorate unexpectedly voted to leave the European Union, the value...
Persistent link: https://www.econbiz.de/10012868489
Kingdom from the European Union (popularly known as Brexit). Our predictions are based on simulations of a multicountry … intangible capital that is used nonrivalrously by their subsidiaries at home and abroad. We analyze several post-Brexit scenarios …
Persistent link: https://www.econbiz.de/10012960512
We estimate the impact of increased policy uncertainty from Brexit on UK trade in services. We apply an uncertainty … variation in the probability of Brexit from prediction markets interacted with a new trade policy risk measure across service … industries we identify a significant negative impact of the threat of Brexit on trade values and participation. The increased …
Persistent link: https://www.econbiz.de/10014090937