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Financial Globalization and the International Transmission of Interest Rate Shocks : The Federal Reserve and China
Wan, Xiaoli - 2017
This paper evaluates the spillovers from U.S. monetary policy to China's domestic interest rates over 1999-2016, focusing on the impacts of long-term interest rate and exchange rate regimes on the capacity of China to moderate external interest rate shocks. We find that China's central bank owns...
Persistent link: https://www.econbiz.de/10012949609
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International Trade and Financial Integration : A Weighted Network Analysis
Schiavo, Stefano - 2011
The authors analyse patterns of international trade and financial integration using complex network analysis. The combination of both binary and weighted approaches delivers more precise and thorough insights into the topological structure and properties of international trade and financial...
Persistent link: https://www.econbiz.de/10013124994
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International trade and financial integration : a weighted network analysis
Fagiolo, Giorgio (contributor); Reyes, Javier (contributor);  … - 2007
In this paper we compare the patterns of trade and financial integration by exploiting network analysis. Our results show that, by combining binary and weighted network analysis, it is possible to deliver more precise and thorough insights on the topological structure and properties of the...
Persistent link: https://www.econbiz.de/10003744958
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The global capital flows cycle : structural drivers and transmission channels
Habib, Maurizio Michael; Venditti, Fabrizio - 2019
In this paper, we study the effects of structural shocks that influence global risk - the main factor behind a "global capital flows cycle" - and how risk, in turn, is transmitted to capital flows. Our results show that not all the risk shocks driving the global financial cycle have the same...
Persistent link: https://www.econbiz.de/10012009141
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The 'Impossible Trinity' Hypothesis in an Era of Global Imbalances : Measurement and Testing
Aizenman, Joshua - 2012
We outline new metrics for measuring the trilemma aspects: exchange rate flexibility, monetary independence, and capital account openness, taking into account recent substantial international reserve accumulation. Since 1990, the trilemma variables in emerging markets have converged towards...
Persistent link: https://www.econbiz.de/10013105798
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The impossible trinity ; from the policy trilemma to the policy quadrilemma
Aizenman, Joshua - 2011
The policy Trilemma (the ability to accomplish only two policy objectives out of financial integration, exchange rate stability and monetary autonomy) remains a valid macroeconomic framework. The financial globalization during 1990s-2000s reduced the weighted average of exchange rate stability...
Persistent link: https://www.econbiz.de/10008908358
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Globalization and Convergence of International Equity Markets
Dorodnykh, Ekaterina - 2011
tracked global equity benchmarks of stock exchanges, traded throughout the world. In particular using a time … MSCI World Index in order to see the level of bilateral influence between equity markets, affected by globalization … stock exchange market returns relative to MSCI World Index. The results of research show that all analyzed developed equity …
Persistent link: https://www.econbiz.de/10014177008
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What Form did Global Financial Integration Take from 1960 to 2015? A Topological Analysis
Bastidon, Cécile - 2017
integration indicators based on the topological structure of world equity markets. The sample includes 32 countries over the …
Persistent link: https://www.econbiz.de/10012965105
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Financial Globalization, Capital Account Liberalization and Risk Sharing
Gautam, Mayank - 2012
Conventional wisdom suggests that countries that are financially integrated should be better insured against macroeconomic risk. In this paper, I study whether international risk sharing has improved with greater financial integration during the period 1973-2003. Using panel data regressions, I...
Persistent link: https://www.econbiz.de/10013105986
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Financial Integration, Globalization, and Real Activity
De Nicolo, Gianni - 2013
Using data for a large number of advanced and emerging market economies during 1982-2009, this paper examines the distinct impact of financial integration and globalization on several dimensions of real activity. We find that: financial integration has progressed significantly worldwide,...
Persistent link: https://www.econbiz.de/10013091562