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Currency Undervaluation and Sovereign Wealth Funds : A New Role for the World Trade Organization

Mattoo, Aaditya; Subramanian, Arvind - 2012

dealing with undervalued exchange rates. This paper proposes new rules in the World Trade Organization to discipline cases of … WTO's enforcement mechanism is credible and effective. The World Trade Organization would not be involved in exchange rate … advantage of the two institutions, with the International Monetary Fund providing the essential technical expertise in the World …

Persistent link: https://www.econbiz.de/10012552459

Financial Globalization in Emerging Countries : Diversification vs. Offshoring

Ceballos, Francisco; Didier, Tatiana; Schmukler, Sergio L. - 2012

transactions take place. The authors find that globalization via the diversification channel expanded throughout the world during …

Persistent link: https://www.econbiz.de/10012554536

Explaining the Migration of Stocks from Exchanges in Emerging Economies to International Centers

Claessens, Stijn; Klingebiel, Daniela; Schmukler, Sergio L. - 2013

The authors study the determinants of the growing migration of stock market activity to international financial centers. They use a sample of 77 countries and document that higher economic growth and more macroeconomic stability help stock market development. Countries with higher income per...

Persistent link: https://www.econbiz.de/10012559577

International Financial Integration through Equity Markets : Which Firms from Which Countries Go Global?

Claessens, Stijn; Schmukler, Sergio L. - 2012

equity, and cross-listing in major world stock markets. Using a large sample of 39,517 firms from 111 countries covering the …

Persistent link: https://www.econbiz.de/10012552596

How the Proposed Basel Guidelines on Rating-Agency Assessments Would Affect Developing Countries

Ferri, Giovanni; Liu, Li-gang; Majnoni, Giovanni - 2000

Using historical data on sovereign and individual borrowers, the authors assess the potential impact on non-high-income countries of linking capital asset requirements for banks to private sector ratings, as the Basel committee has proposed. They show that linking bank's capital asset...

Persistent link: https://www.econbiz.de/10012572775

Benefits and Costs of International Financial Integration : Theory and Facts

Agénor, Pierre-Richard - 2001

The author provides a selective review of the recent analytical and empirical literature on the benefits and costs of international financial integration. He discusses the impact of financial openness on consumption, investment, and growth, and the impact of foreign bank entry on the domestic...

Persistent link: https://www.econbiz.de/10012573072

Financial Globalization and Market Volatility : An Empirical Appraisal

Cordella, Tito; Ospino Rojas, Anderson - 2017

This paper computes a new financial globalization index for a large sample of countries for 1992-2016. Unlike other measures, the financial globalization index corrects for the heteroscedasticity of global volatility. This leads to a downward adjustment of financial globalization trends for...

Persistent link: https://www.econbiz.de/10012570136

How Firms Use Domestic and International Corporate Bond Markets

Gozzi, Juan Carlos; Levine, Ross; Martínez Pería, … - 2013

This paper provides the first comprehensive documentation of how firms use domestic and international corporate bond markets. Debt issues in domestic and international markets have different characteristics, not explained by differences across firms or countries. International issues tend to be...

Persistent link: https://www.econbiz.de/10012557091

Financial Regulatory Harmonization and the Globalization of Finance

Jordan, Cally; Majnoni, Giovanni - 2002

In the globalizing economy, national policymakers are often forced to accept the challenge of financial integration. Faced with the potentially destabilizing effects of international financial markets, they have to strengthen financial regulation, importing international best practices and...

Persistent link: https://www.econbiz.de/10012573173

Sovereign Wealth Funds and Long-Term Investments in Sub-Saharan Africa

Diallo, Boubacar; Tchana Tchana, Fulbert; Zeufack, Albert G. - 2016

This paper explores the landscape, contributions, and determinants of sovereign wealth funds' long-term investments in Sub-Saharan Africa. The study finds that of all regions, Africa receives the lowest share of investment from sovereign wealth funds, and the landscape is dominated by Asian...

Persistent link: https://www.econbiz.de/10012570682