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Evidence on international capital flows suggests that foreign direct investment (FDI) is less volatile than other financial flows. To explain this finding, I model international capital flows under the assumptions of imperfect enforcement of financial contracts and inalienability of FDI....
Persistent link: https://www.econbiz.de/10005119449
The crisis has recalled that private sector indebtedness may constitute a core macrofinancial vulnerability. In some … countries of Central, Eastern and Southeastern Europe (CESEE), risks stemming from indebtedness materialized in the form of … shows the high relevance of this issue. We present s ystematic cross-country information about the indebtedness of the …
Persistent link: https://www.econbiz.de/10010818106
The current financial crisis has once again shown that the inherent pro-cyclicality of lending can trigger financial cycles with a potentially substantial impact on the real economy. Against that background, the article analyses the size and dynamics of the debt ratios of the various...
Persistent link: https://www.econbiz.de/10011272856
States of the European Union, to test if the same short-run increase in cyclical volatility arising from financial … mature market economies, reduces cyclical volatility both in the short and in the long run. Weak indications are found that …
Persistent link: https://www.econbiz.de/10005062709
The current episode (2007-09) may well be the first time since Latin America gained its independence in the early 1800s that a major economic contraction and financial calamity in the industrialized world has not caused a wave of currency, sovereign debt or banking crises in the region. What...
Persistent link: https://www.econbiz.de/10008514911
using indebtedness and profitability indexes as well as stock exchange quotations, and taking into account the data provided …
Persistent link: https://www.econbiz.de/10010819442
used in the sector and, subsequently, carry out an analysis of four key financial variables: percentage of indebtedness …
Persistent link: https://www.econbiz.de/10010940049
This study investigates the effect of currency union membership on foreign direct investment inflow to ECOWAS subregion. The study employed panel dynamic ordinary least square (DOLS) to estimate a panel data of fifteen ECOWAS countries from 1995 to 2010 with the framework of the gravity model....
Persistent link: https://www.econbiz.de/10010735672
In this study, countries were analyzed between 1990 and 2011 in order to determine whether a causal relationship exists among current account deficit, GDP, foreign direct investment, and total credits of G7. Analysis took into account the cross-sectional dependence and was applied to test the...
Persistent link: https://www.econbiz.de/10010857968
Introducing this volume of the EIB Papers and linking the various contributions, this paper emphasises that the internationalisation of production in Europe, which creates cross-border production networks, is an increasingly important element of globalisation, has been spreading to new EU...
Persistent link: https://www.econbiz.de/10004984642