Search Results - subject_exact:"Interregionale Kapitalmobilität"

Langenmayr, Dominika; Streich, David J. - 2026

We provide evidence that individuals use cryptocurrencies to channel funds into and out of tax havens. Exploiting the Panama Papers (2016) and Paradise Papers (2017) leaks as shocks to offshore detection risk, we compare prices of cryptocurrency-fiat pairs involving Singapore and Hong Kong...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015654759

Patterns and determinants of global cryptocurrency flows

Friedrich, Christian; Zhao, Laura - 2026 - Last updated: May 7, 2026

In this paper, we examine the patterns and determinants of cross-border cryptocurrency flows. While our analysis focuses primarily on Bitcoin flows, the cryptocurrency with the largest market capitalization, we show that our key results also extend to four major stablecoins. After documenting...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015655371

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Patterns and determinants of global cryptocurrency flows

Friedrich, Christian; Zhao, Laura - 2026

Book / Working Paper

The need for a new policy approach to European capital flows

Nielsen, Erik F. - 2026

The ruptured geopolitical world has accentuated the urgency for Europe to strengthen its economy through productivity-enhancing investment, including in new technologies and defence. The roadmap is laid out in the Draghi and Letta reports, but additional new aspects have been added because of US...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015608697

Public capital stocks in dynamic fiscal competition

Pieretti, Patrice; Pulina, Giuseppe; Zou, Benteng - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015611088

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Public capital stocks in dynamic fiscal competition

Pieretti, Patrice; Pulina, Giuseppe; Zou, Benteng - 2026

Book / Working Paper

Beyond Binary : A Policy-Intensity Measure of Capital Flow Management

Li, Wenjie - 2026

This paper introduces the FinOpen index, a novel measure of capital flow management for 193 countries from 1996 to 2022. Using information from the IMF’s Annual Report on Exchange Arrangements and Exchange Restrictions (AREAER), the index is constructed by estimating the level of openness...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015612667

Motivating Capital Controls : Evidence from New Measures of Capital Flow Restrictions

Baba, Chikako - 2026

Countries implement and liberalize capital controls opportunistically. To show this point, this paper introduces two novel indices—the Financial Account Restrictiveness Index (FARI) and the AREAER Change Index (ACI)—to measure and track capital flow restrictions across 190 countries...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015612668

Dollar funding and housing markets : the role of non-US global banks

Ehlers, Torsten; Hoffmann, Mathias; Raabe, Alexander - 2026 - This version: January 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015613799

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Dollar funding and housing markets : the role of non-US global banks

Ehlers, Torsten; Hoffmann, Mathias; Raabe, Alexander - 2025 - This version: October 2025

Edition: This version: October 2025

Book / Working Paper

Immigration analysis in three countries model

Yamada, Kota; Yasuoka, Masaya - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015616354

The role of investor composition in sovereign bond pricing : evidence from an emerging market

Botero-Ramírez, Oscar - 2026

This paper quantifies how demand and supply shocks transmit to yields in Colombia's sovereign bond market by estimating investor-level demand elasticities and translating them into equilibrium price effects. Using investor-security microdata and two complementary identification strategies, I...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015592495

Capital inflow shocks and convenience yields

Ben Zeev, Nadav; Ben-Ze'ev, Noam; Nathan, Daniel - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015593005

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Capital inflow shocks and convenience yields

Ben Zeev, Nadav; Ben-Ze'ev, Noam; Nathan, Daniel - 2025

Book / Working Paper

Long-run determinants of the net international investment position

Kuziemska-Pawlak, Kamila; Ito, Hiroyuki - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015594842

Pyrrhic diversification : foreign institutional ownership and stock return sensitivity to the global financial cycle

Ambrocio, Gene; Bui, Dien Giau; Hasan, Iftekhar; Lin, … - 2026

We demonstrate that foreign institutional ownership (FIO) is associated with stronger stock return sensitivity to the Global Financial Cycle (GFC), indicating greater global co-movement among stocks selected by FIOs compared to those not selected. We conjecture that this may be because (i) FIOs...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015580296

Unbalanced financial globalization

Capelle, Damien; Pellegrino, Bruno - 2026 - Original version: August 2023, this version: January 2026

We use a dynamic spatial general equilibrium model of international investment and production to investigate the real implications of the last five decades of financial globalization. We introduce a wedge accounting framework to estimate country- and time-varying measures of outward and inward...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015605201

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Unbalanced financial globalization

Capelle, Damien; Pellegrino, Bruno - 2025 - This version: August 2025

Edition: This version: August 2025

Book / Working Paper

Unbalanced Financial Globalization

Capelle, Damien; Pellegrino, Bruno - 2025

Book / Working Paper

Unbalanced financial globalization

Capelle, Damien; Pellegrino, Bruno - 2023

Book / Working Paper

Unbalanced financial globalization

Capelle, Damien; Pellegrino, Bruno - 2025 - This version: June 2025

Edition: This version: June 2025

Book / Working Paper

Climate Change Policies and FDI Flows

Koç, Ayşe Sıla; Çerçil, İrfan - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015606707

Trade and permanent growth with domestic and foreign capital goods, and international capital movements

Ziesemer, Thomas - 2026

Domestic and foreign capital and consumption goods are imperfect substitutes in production and demand functions of the growth model by Bardhan-Lewis. We extend the model by introducing exogenous technical progress and allow for foreign debt dynamics without dropping domestic capital goods. Trade...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015626028

Monetary policy and interest rate volatility : the role of inequality and imperfect credit market

Marjit, Sugata; Mishra, Suryaprakash; Mandal, Sanghita; … - 2026

Inequality of wealth or liquid finance in a system with credit market imperfection adversely affects investment by poor investors. This is well known in the literature. In this paper we prove that the aggregate credit demand function would be relatively inelastic with unequal wealth distribution...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015626636

One market, one supervision : rethinking the supervisory landscape for a truly integrated capital market in Europe

Carmassi, Jacopo; Dumora Lemair, Olivier; Evrard, Johanne; … - 2026

This paper provides an evidence-based assessment of the EU supervisory landscape by combining a comprehensive mapping of supervisory models and authorities with an analysis of capital market players across key sectors, including market infrastructures, asset management, and crypto-asset service...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015628826

Demographics and international capital flows : an empirical assessment

Zélity, Balázs - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015641901

Cross-regional venture capital flows in Europe : the role of entrepreneurial ecosystems and proximity

Compañó, Ramón; Johanyák, Csaba K.; Testa, Giuseppina; … - 2026

This paper examines whether, and under which conditions, regional entrepreneurial ecosystems mitigate spatial frictions in cross-regional venture capital (VC) investments. Using a dyadic panel of VC flows across 267 European NUTS-2 regions over 2008-2022, we estimate gravity-style regressions...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015641938

Macro-financial blind spots in emerging markets : non-bank intermediation, funding liquidity, and the persistence of global shock transmission

Pessoa, Gustavo Henrique Rodrigues; Rochman, Ricardo R. - 2026

Despite significant advances in bank regulation and the widespread adoption of macroprudential frameworks, emerging market economies remain persistently vulnerable to global financial shocks. Episodes such as the Global Financial Crisis, the COVID-19 market turmoil, and recent monetary...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015643130

Do warnings change behavior? : money-laundering, grey-listing by the FATF, and cross-border financial flows

LaGarda, Guillermo; Verastegui, Paulina - 2026

Does Financial Action Task Force (FATF) grey-listing disrupt cross-border financial flows? The answer is not obvious. Grey-listing imposes no formal transaction restrictions, yet it can trigger compliance responses by financial institutions facing heightened regulatory risk and the prospect of...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015644703

Industrial policies, global imbalances and technological hegemony

Cesa-Bianchi, Ambrogio; Ferrero, Andrea; Fornaro, Luca; … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015655753

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Industrial policies, global imbalances and technological hegemony

Cesa-Bianchi, Ambrogio; Ferrero, Andrea; Fornaro, Luca; … - 2026

Book / Working Paper

The micro and macro dynamics of capital flows

Saffie, Felipe; Varela, Liliana; Yi, Kei-mu - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015657381

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The micro and macro dynamics of capital flows

Saffie, Felipe; Varela, Liliana; Yi, Kei-mu - 2025

Book / Working Paper

The micro and macro dynamics of capital flows

Saffie, Felipe; Varela, Liliana; Yi, Kei-mu - 2021

Book / Working Paper

The micro and macro dynamics of capital flows

Saffie, Felipe; Varela, Liliana; Yi, Kei-mu - 2020

Book / Working Paper

The micro and macro dynamics of capital flows

Saffie, Felipe; Varela, Liliana; Yi, Kei-mu - 2020 - This revision 07 July 2025

Edition: This revision 07 July 2025

Book / Working Paper

The Micro and Macro Dynamics of Capital Flows

Saffie, Felipe; Varela, Liliana; Yi, Kei-mu - 2022

Book / Working Paper

The Micro and Macro Dynamics of Capital Flows

Saffie, Felipe - 2020

Book / Working Paper

Reserve requirement ratio and capital flows : a regime-switching DSGE estimation for China

Hu, Ruopu - 2026 - This version: March 31, 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015647392

Financing nature : investment funds and biodiversity risks

Kaat, Daniel Marcel te; Raabe, Alexander - 2026

How do international investors adjust portfolios in response to biodiversity risk? Using monthly data on investment fund portfolios, we show that the 2021 Kunming Declaration led fund managers to reallocate portfolios from high-biodiversity risk countries to less risky ones, while ultimate fund...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015650859

Tariffs and capital flows

Marjit, Sugata; Das, Gouranga Gopal; Kar, Mausumi; Kar, … - 2026 - Work in progress draft version 4 [May 2026]

This paper analytically explores how FDI are affected by Tariffs as President Trump has imposed retaliatory tariffs on countries which have trade surplus with US and declared this as a strategy to attract tariff jumping FDI into US.. Our motivational empirical results show that with greater...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015651687

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Tariffs and capital flows

Marjit, Sugata; Das, Gouranga Gopal; Kar, Mausumi; Kar, … - 2026

Book / Working Paper

The dynamic association of economic policy uncertainty, short-term cross-border capital flows and systemic financial risk

Wang, Lu; Wang, Yuting; Zhao, Ziying; Shang, Lin; Wang, … - 2026

The global economic landscape has become increasingly volatile, as rising economic policy uncertainty (EPU) and frequent abnormal fluctuations in short-term cross-border capital flows (SCF) can easily trigger systemic financial risks (SFR). Clarifying the dynamic relationships among these three...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015653612

Gold and the external wealth of nations

Bindseil, Ulrich; Daskalova, Svetla; Senner, Richard - 2026 - This version: 30 May 2026

We analyse the portfolio-reallocation incentives faced by NIIP-surplus economies under cross-border seizure risk. Assets, such as gold, can be physically imported and held domestically in contrast to financial claims on other jurisdictions. Gold purchases not only reduce the NIIP but can also...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015654167

Regional access to capital and investment finance : summary of results from TPI research programme

McCann, Philip - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015635435

External crisis vulnerability in Latin America and the Caribbean

Cavallo, Eduardo A.; Fernández Arias, Eduardo - 2026

This paper assesses the vulnerability of Latin American and Caribbean (LAC) economies to external crises. It shows that while the average LAC economy has made significant strides to reduce vulnerability to crises to its historical minimum, there is still considerable room for improvement,...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015636654

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External crisis vulnerability in Latin America and the Caribbean

Cavallo, Eduardo A.; Fernández Arias, Eduardo - 2023

Book / Working Paper

You only live twice: financial inflows and growth in a westward-facing Ukraine

Gorodnichenko, Yuriy; Obstfeld, Maurice - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015636995

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You only live twice : financial inflows and growth in a westward-facing Ukraine

Gorodnichenko, Yuriy; Obstfeld, Maurice - 2026

Book / Working Paper

Neoclassical growth in an interdependent world

Kleinman, Benny; Liu, Ernest; Redding, Stephen; Yogo, … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015666280

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Neoclassical growth in an interdependent world

Kleinman, Benny; Liu, Ernest; Redding, Stephen; Yogo, … - 2023

Book / Working Paper

Neoclassical growth in an interdependent world

Kleinman, Benny; Liu, Ernest; Redding, Stephen; Yogo, … - 2023

Book / Working Paper

Neoclassical growth in an interdependent world

Kleinman, Benny; Liu, Ernest; Redding, Stephen; Yogo, … - 2023

Book / Working Paper

The impact of the global financial cycle on systemic risk and the role of macroprudential policies

Zhu, Mingzhu; Ma, Xuyang - 2026

In an increasingly complex international economic environment, preventing systemic risk requires attention to both domestic conditions and the spillover effects from global financial shocks. This study examines 42 economies to explore the global financial cycle's impact on systemic risk and its...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015666459

The asymmetric effect of capital flows and credit default swap spreads on the US dollar/Turkish lira exchange rate

Akbal, Emel; Civcir, İrfan - 2026

This study investigates the asymmetric effects of capital flows and Credit Default Swap (CDS) spreads on the US dollar/Turkish lira exchange rate employing the Nonlinear Auto Regressive Distributed Lag (NARDL) methodology. We used a Turkish monthly dataset covering the period from 2003 to 2022....

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015666467

Estimating the scale of illicit financial flows : the abnormality method

Coll Sol, Daniel; Cuenda García, Mario; Gabanatlhong, … - 2026

This paper introduces the abnormality method to estimate illicit financial flows (IFFs) using a bilateral gravity model complemented by a machine learning technique to analyse unexplained financial flows to offshore centres. The findings provide robust evidence linking abnormal flows to offshore...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015667744

The impact of stablecoins on the international monetary and financial system

Aldasoro, Iñaki; Frost, Jon; Itō, Hiro - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015667775

Stablecoin flows and spillovers to FX markets

Aldasoro, Iñaki; Beltran, Paula; Grinberg, Federico - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015668201

Global imbalances redux

Obstfeld, Maurice - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015669211

International migration and cross-border illicit financial flows

Rand, John - 2026

This paper examines whether international migration facilitates illicit financial flows (IFFs) alongside legitimate cross-border investment. While a large literature shows that migrant networks promote foreign direct investment (FDI) by reducing information frictions, little is known about their...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015665670

States as financiers : international lending in war and peace

Horn, Sebastian; Reinhart, Carmen M.; Trebesch, Christoph - 2026

States are major international financiers, but their role is poorly understood. We study state-driven cross-border lending over two centuries using a new database covering 1.2 million official loans and grants by 134 governments and 70 multilateral institutions since 1790. We document a dual,...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015664864

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States as financiers : international lending in war and peace

Horn, Sebastian; Reinhart, Carmen M.; Trebesch, Christoph - 2026

Book / Working Paper

Bivariate sudden stop analysis of equity and bond fund flows to emerging markets using isolation forest

Griebsch, Susanne; Röthig, Andreas - 2026

This paper applies machine learning methods and anomaly detection to sudden stop analysis of portfolio flows. Using the isolation forest methodology, univariate as well as bivariate sudden stops of equity and bond fund flows to emerging markets are generated. An anomaly score and an anomaly...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015665389

Women's health investment outlook: 6% of funding for nearly 50% of the population - not just a gap, but untapped white space : insight report

2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015612495

The macroeconomic push-pull conditions affecting remittance flows between Latin American economies

Keefe, Helena Glebocki; Simpson, Nicole B.; Alarcon … - 2026

This paper analyzes the macroeconomic push-pull determinants of bilateral remittance flows among 33 pairs of Latin American countries using quarterly data between 2005 and 2023. We apply a panel Autoregressive Distributed Lag (ARDL) framework combined with a Poisson Pseudo Maximum Likelihood...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015677710

Effectiveness of capital controls : gates versus walls

Zhou, Yang; Kitano, Shigeto - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015672639

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Effectiveness of capital controls: gates versus walls

Zhou, Yang; Kitano, Shigeto - 2023 - Revised April 7, 2023

Edition: Revised April 7, 2023

Book / Working Paper

Capital flows and the global collateral cycle

Fostel, Ana; Geanakoplos, Deno John; Phelan, Gregory - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015668715

Safe-haven flows into the German bond market and the role of policy disagreement

Röder, Jana; Tillmann, Peter; Winker, Peter; Yun, Jinyeong - 2026

German government debt is considered a safe asset in times of turbulence. We estimate the impact of changes in the risk appetite of global investors on weekly investment fund flows into the German sovereign bond market. Our key contribution is to allow the impact of such shocks to depend on the...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015625777

Capital flows, exchange rates and financial conditions in EMEs in an evolving international monetary system : papers in this volume were prepared for a meeting of emerging market economy Deputy Governors organised by the Bank for International Settlements on 12-13 March 2026

2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015667777

Capital mobility in the APEC region : a consumption-based approach and new empirical evidence

Alawin, Mohammad - 2026

This study explores the degree of capital mobility in selected APEC economies over the period 2000-2023, using a consumption-based approach. The motivation stems from the well-known limitations of the traditional investment-saving framework associated with the Feldstein-Horioka puzzle, which may...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015671909

On the rise of creditor nations

Kucheryavyy, Konstantin; Monge-Naranjo, Alexander; … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016059170

Foreign monetary policy spillovers and macroprudential policy response : evidence from Uganda's banking sector

Musumba, Brian; Sseguya Muwonge, Trevor - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015675637