Showing 1 - 10 of 2,219
The aim of this paper is to examine whether or not financial liberalization has triggered banking crises in developing countries. We focus in particular on the role of capital inflows as their volatilities threat economic stability. In the empirical model, based on Panel Logit estimation, we use...
Persistent link: https://www.econbiz.de/10015242368
This paper provides novel insights into the Feldstein-Horioka puzzle. The famous finding of Feldstein and Horioka (1980) is that despite perfect international capital mobility, domestic saving does not flow among countries to equalise yields but instead is tightly related to domestic investment....
Persistent link: https://www.econbiz.de/10015214524
The present study empirically examines the importance of foreign portfolio investment (FPI) or hot money from certain investor(s) or country(s) on Malaysian economic performance. In methodology, the study uses vector error correction (VECM) model of FPI inflows from major investors such as the...
Persistent link: https://www.econbiz.de/10015215019
The Asian financial crisis of 1997 evolved through many stages. Although there is a consensus among economists on its "ingredients", a disagreement still exists about the exact mechanisms. This paper proposes a model explaining the triggering event of the crisis as represented by the abandon of...
Persistent link: https://www.econbiz.de/10015222710
Migrant remittances tend to be more stable, unlike other sources of external financing, making remittances a reliable source for developing countries. Thus, despite the upward trend in remittances, stock markets in developing countries are generally characterized by high volatility. This study...
Persistent link: https://www.econbiz.de/10015236023
We investigate the impact of foreign equity and debt on the occurrence of banking crises in 61 lower-income and middle-income economies during the 1984-2010 period. We also focus on the effects of domestic institutions on banking crises and whether they mitigate or exacerbate the impact of the...
Persistent link: https://www.econbiz.de/10015257327
This paper examines the hypothesis that the boom in dollar credit in the emerging market economies is associated with excessively low interest rate in the US. For this purpose, we use a multivariate correlated unobserved component model that allows for correlation between shocks to dollar...
Persistent link: https://www.econbiz.de/10015258704
Given the rising importance of non-financial corporate overseas debt issuance in the overall international capital flow activities, this paper tries to understand the determinants of corporate overseas bond issuance in 32 countries during the sample period 1993-2015. The results suggest that the...
Persistent link: https://www.econbiz.de/10015258706
The process of financial integration has increased the exposure of South African financial markets to foreign financial crises. This paper contributes to the understanding of crisis transmission by evaluating several hypotheses that claim to explain how financial crises are transmitted to South...
Persistent link: https://www.econbiz.de/10015262198
La investigación cuantifica y analiza los efectos de los choques originados en los mercados estadounidenses sobre los principales mercados financieros colombianos. Para cumplir con este objetivo se emplea la información diaria de los mercados de dinero, bonos, acciones y tipo de cambio entre...
Persistent link: https://www.econbiz.de/10015262269