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Author : David P. Lindahl
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (91 download)
Download or read book New Frontiers of Capital: the Geography of Commercial Real Estate Capital Flows written by David P. Lindahl and published by . This book was released on 1997 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Carol C. Bertaut
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)
Download or read book Globalization and the Geography of Capital Flows written by Carol C. Bertaut and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In this note, we document the large and growing distortions in official capital flows and investment statistics as a result of globalization. We provide a series of stylized facts about the extent and causes of these distortions, and also include data files containing U.S. portfolio holdings restated on a nationality basis to reflect the true exposures of U.S. investors.
Author : Yuko Aoyama
Publisher : SAGE
ISBN 13 : 144625982X
Total Pages : 290 pages
Book Rating : 4.4/5 (462 download)
Download or read book Key Concepts in Economic Geography written by Yuko Aoyama and published by SAGE. This book was released on 2010-11-17 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: "A comprehensive and highly readable review of the conceptual underpinnings of economic geography. Students and professional scholars alike will find it extremely useful both as a reference manual and as an authoritative guide to the numerous theoretical debates that characterize the field." - Allen J. Scott, University of California "Guides readers skilfully through the rapidly changing field of economic geography... The key concepts used to structure this narrative range from key actors and processes within global economic change to a discussion of newer areas of research including work on financialisation and consumption. The result is a highly readable synthesis of contemporary debates within economic geography that is also sensitive to the history of the sub-discipline." - Sarah Hall, University of Nottingham "The nice thing about this text is that it is concise but with depth in its coverage. A must have for any library, and a useful desk reference for any serious student of economic geography or political economy." - Adam Dixon, Bristol University Organized around 20 short essays, Key Concepts in Economic Geography provides a cutting edge introduction to the central concepts that define contemporary research in economic geography. Involving detailed and expansive discussions, the book includes: An introductory chapter providing a succinct overview of the recent developments in the field. Over 20 key concept entries with comprehensive explanations, definitions and evolutions of the subject. Extensive pedagogic features that enhance understanding including figures, diagrams and further reading. An ideal companion text for upper-level undergraduate and postgraduate students in economic geography, the book presents the key concepts in the discipline, demonstrating their historical roots and contemporary applications to fully understand the processes of economic change, regional growth and decline, globalization, and the changing locations of firms and industries. Written by an internationally recognized set of authors, the book is an essential addition to any geography student′s library.
Author : Francis E. Warnock
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (318 download)
Download or read book The Geography of Capital Flows written by Francis E. Warnock and published by . This book was released on 2000 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: To provide insight into the accuracy of U.S. data on international equity transactions, we compare estimates of U.S. holdings of equities in over 40 countries with actual holdings given by comprehensive U.S. benchmark surveys. If the rate of return used to revalue U.S. holdings in a given country is accurate, accurate holdings estimates imply accurate transactions data. For some countries, such as Canada and much of Latin America, the holdings estimates are quite accurate. For the majority of countries, however, there is a great disparity between our estimates and actual amounts, likely because U.S. data on international equity transactions record the country of the transactor, not the country of the issuer. Our estimates are far too high for financial centers - because many U.S. transactions that go through these countries involve securities issued in other countries - and far too low in most other countries, particularly in Europe and Asia. To illustrate the potential pitfalls of using estimated country-specific holdings data, we briefly present two cases in which the use of actual data leads to different conclusions. One case examines the determinants of U.S. equity holdings across countries; the other concerns the turnover rate of foreign equity portfolios.
Download or read book International Financial Innovation and the Geography of Portfolio Capital Flows written by and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Francis E. Warnock
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.3/5 (121 download)
Download or read book Financial Centers and the Geography of Capital Flows written by Francis E. Warnock and published by . This book was released on 2002 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Capital Flows and Geographically Uneven Economic Dynamics written by and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Richard O'Brien
Publisher :
ISBN 13 :
Total Pages : 138 pages
Book Rating : 4.3/5 (512 download)
Download or read book Global Financial Integration written by Richard O'Brien and published by . This book was released on 1992 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Laura Alfaro
Publisher :
ISBN 13 :
Total Pages : 45 pages
Book Rating : 4.:/5 (115 download)
Download or read book Elusive Safety written by Laura Alfaro and published by . This book was released on 2020 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a unique confidential data set with industry disaggregation of official U.S. claims and liabilities, we find that dollar-denominated securities are increasingly intermediated by tax havens financial centers (THFC) and by less regulated funds. These securities are risky and respond to tax rates and prudential regulations, suggesting tax avoidance and regulatory arbitrage. Issuers are mostly intangible-intensive multinationals, that can more easily move across borders. Investors require a high Sharpe ratio, suggesting search for yield. In contrast, safe treasuries are mainly held by the foreign official sector and increased with quantitative easing policies. Facts on the privately held securities are rationalized through a model where multinationals with heterogeneous default probabilities endogenously choose to shift profits to a THFC against a cost and are funded by global intermediaries with endogenous monit- oring intensity. A fall in debt costs, due to an increase in global savings channeled by low regulated intermediaries, raises firms' profits. More firms can afford to enter the THFC and, as they appear elusively safer, intermediaries reduce monitoring intensity, increasing ex post risk.
Author : Mr.Thierry Tressel
Publisher : International Monetary Fund
ISBN 13 : 145520935X
Total Pages : 46 pages
Book Rating : 4.4/5 (552 download)
Download or read book International Capital Flows and Development written by Mr.Thierry Tressel and published by International Monetary Fund. This book was released on 2010-10-01 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Does capital flow from rich to poor countries? We revisit the Lucas paradox and explore the role of capital account restrictions in shaping capital flows at various stages of economic development. We find that, when accounting for the degree of capital account openness, the prediction of the neoclassical theory is confirmed: less developed countries tend to experience net capital inflows and more developed countries tend to experience net capital outflows, conditional of various countries’ characteristics. The findings are driven by foreign direct investment, portfolio equity investment, and to some extent by loans to the private sector.
Author : Kristin J. Forbes
Publisher :
ISBN 13 :
Total Pages : 57 pages
Book Rating : 4.:/5 (748 download)
Download or read book Capital Flow Waves written by Kristin J. Forbes and published by . This book was released on 2011 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the drivers of international waves in capital flows. We build on the literature on 'sudden stops' and 'bonanzas' to develop a new methodology for identifying episodes of extreme capital flow movements using quarterly data on gross inflows and gross outflows, differentiating activity by foreigners and domestics. We identify episodes of 'surge', 'stop', 'flight', and 'retrenchment' and show how our approach yields fundamentally different results than the previous literature that used measures of net flows. Global factors, especially global risk, are the most important determinants of these episodes. Contagion, especially through trade and the bilateral exposure of banking systems, is important in determining stop and retrenchment episodes. Domestic macroeconomic characteristics are generally less important, although changes in domestic economic growth influence episodes caused by foreigners. We find little role for capital controls in reducing capital flow waves. The results help provide insights for different theoretical approaches explaining crises and capital flow volatility -- National Bureau of Economic Research web site.
Author : Mr.Philip R. Lane
Publisher : International Monetary Fund
ISBN 13 : 1484300343
Total Pages : 53 pages
Book Rating : 4.4/5 (843 download)
Download or read book International Financial Integration in the Aftermath of the Global Financial Crisis written by Mr.Philip R. Lane and published by International Monetary Fund. This book was released on 2017-05-10 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper documents the evolution of international financial integration since the global financial crisis using an updated dataset on external assets and liabilities, covering over 210 economies for the period 1970-2015. It finds that the growth in cross-border positions in relation to world GDP has come to a halt. This reflects much weaker capital flows to and from advanced economies, with diminished cross-border banking activity, and an increase in the weight of emerging economies in global GDP, as these economies have lower external assets and liabilities than advanced economies. Cross-border FDI positions have continued to expand, unlike positions in portfolio instruments and other investment. This expansion reflects primarily positions vis-à-vis financial centers, suggesting that the complexity of the corporate structure of large multinational corporations is playing an important role. The paper also explores the cross-country drivers of foreign ownership of domestic debt securities, highlighting in particular the role of the euro debt crisis in explaining its evolution.
Author : B. Brown
Publisher : Springer
ISBN 13 : 0230627293
Total Pages : 274 pages
Book Rating : 4.2/5 (36 download)
Download or read book What Drives Global Capital Flows? written by B. Brown and published by Springer. This book was released on 2006-07-12 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: Capital flows from Asia into the US challenge many assumptions of international financial analysis. This book presents a novel geography of these flows, revealing their driving forces and assessing the market mechanisms necessary for a smooth global flow of funds. It is essential for all those interested in international finance.
Author : Martin Feldstein
Publisher : University of Chicago Press
ISBN 13 : 0226241807
Total Pages : 500 pages
Book Rating : 4.2/5 (262 download)
Download or read book International Capital Flows written by Martin Feldstein and published by University of Chicago Press. This book was released on 2007-12-01 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent changes in technology, along with the opening up of many regions previously closed to investment, have led to explosive growth in the international movement of capital. Flows from foreign direct investment and debt and equity financing can bring countries substantial gains by augmenting local savings and by improving technology and incentives. Investing companies acquire market access, lower cost inputs, and opportunities for profitable introductions of production methods in the countries where they invest. But, as was underscored recently by the economic and financial crises in several Asian countries, capital flows can also bring risks. Although there is no simple explanation of the currency crisis in Asia, it is clear that fixed exchange rates and chronic deficits increased the likelihood of a breakdown. Similarly, during the 1970s, the United States and other industrial countries loaned OPEC surpluses to borrowers in Latin America. But when the U.S. Federal Reserve raised interest rates to control soaring inflation, the result was a widespread debt moratorium in Latin America as many countries throughout the region struggled to pay the high interest on their foreign loans. International Capital Flows contains recent work by eminent scholars and practitioners on the experience of capital flows to Latin America, Asia, and eastern Europe. These papers discuss the role of banks, equity markets, and foreign direct investment in international capital flows, and the risks that investors and others face with these transactions. By focusing on capital flows' productivity and determinants, and the policy issues they raise, this collection is a valuable resource for economists, policymakers, and financial market participants.
Author : Mr.John C Bluedorn
Publisher : International Monetary Fund
ISBN 13 : 1484389042
Total Pages : 38 pages
Book Rating : 4.4/5 (843 download)
Download or read book Capital Flows are Fickle written by Mr.John C Bluedorn and published by International Monetary Fund. This book was released on 2013-08-22 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Has the unprecedented financial globalization of recent years changed the behavior of capital flows across countries? Using a newly constructed database of gross and net capital flows since 1980 for a sample of nearly 150 countries, this paper finds that private capital flows are typically volatile for all countries, advanced or emerging, across all points in time. This holds true across most types of flows, including bank, portfolio debt, and equity flows. Advanced economies enjoy a greater substitutability between types of inflows, and complementarity between gross inflows and outflows, than do emerging markets, which reduces the volatility of their total net inflows despite higher volatility of the components. Capital flows also exhibit low persistence, across all economies and across most types of flows. Inflows tend to rise temporarily when global financing conditions are relatively easy. These findings suggest that fickle capital flows are an unavoidable fact of life to which policymakers across all countries need to continue to manage and adapt.
Author : Miriam L. Campanella
Publisher :
ISBN 13 :
Total Pages : 96 pages
Book Rating : 4.:/5 (13 download)
Download or read book The Changing Geography of Finance - Shifting Financial Flows, and the New Financial Hubs written by Miriam L. Campanella and published by . This book was released on 2018 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: The gyrations of capital flows during and after the recent financial crisis have declined somewhat, as shown by the weakening of uphill flows of capital to US Treasury bonds. Financial flows to emerging economies have stabilised, and reserve managers in central banks are taking a few credit risks compared to the usual “flight to quality”, as the economy emerges from a structural reduction in US Treasury bonds. These themes are reflected in the new geography of capital markets, which is beginning to see new large continent-sized jurisdictions taking centre stage. The purpose of this Report is to provide, through an overview of the structural factors that are shaping the new geography of finance, the rationales behind the emergence of new Financial Hubs in Asia-China and Europe.
Author : Erlend Nier
Publisher : International Monetary Fund
ISBN 13 : 1498352928
Total Pages : 35 pages
Book Rating : 4.4/5 (983 download)
Download or read book Gross Private Capital Flows to Emerging Markets written by Erlend Nier and published by International Monetary Fund. This book was released on 2014-10-27 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses empirically the key drivers of private capital flows to a large sample of emerging market economies in the last decade. It analyzes the effect of the global financial cycle, measured by the VIX, on capital flows and investigates the role of fundamentals and country characteristics in mitigating or amplifying its effect. Using interaction models, we find the effect of the VIX to be non-linear. For low levels of the VIX, capital flows are driven by fundamental factors. During periods of stress, the VIX becomes the dominant driver of capital flows while other determinants, with the exception of interest rate differentials, lose statistical significance. Our results also suggest that the effect of global financial conditions on gross private capital flows increases with the host country’s level of financial sector development. Finally, our results imply that countries cannot fully insulate themselves from global financial shocks, unless creating a fragmented global financial system.
