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  • 1
    Online-Ressource
    Online-Ressource
    [Washington, DC, USA] : World Bank Group, Equitable Growth, Finance and Institutions, Office of the Chief Economist & Development Economics, Development Research Group
    UID:
    gbv_1749528711
    Umfang: 1 Online-Ressource (circa 67 Seiten) , Illustrationen
    Serie: Policy research working paper 9501
    Inhalt: Using country-to-country data, this paper documents a set of novel stylized facts about the rise of the South in global finance. The paper assembles comprehensive bilateral data on cross-border bank loans and deposits, portfolio investment in debt and equity, foreign direct investment, and international reserves. The main finding is that global financial integration with and especially within the South (countries outside the G7 and Western Europe) has grown faster than within the North. By 2018, the South accounted for 24 to 40 percent of international loans and deposits, portfolio investment, and foreign direct investment, an increase of roughly 10 percentage points since 2001. The growing importance of the South is reflected in the intensive and extensive margins, with fast growth in the number of bilateral links. Although China weighs heavily in these trends, international investment in the rest of the South has increased to a similar extent
    Weitere Ausg.: Erscheint auch als Print Version: Broner, Fernando Bilateral International Investments: The Big Sur? Washington, D.C : The World Bank, 2021
    Sprache: Englisch
    Schlagwort(e): Graue Literatur
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
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  • 2
    Online-Ressource
    Online-Ressource
    Washington, D.C : The World Bank
    UID:
    gbv_834971488
    Umfang: Online-Ressource (50 p)
    Ausgabe: 2011 World Bank eLibrary
    Inhalt: This paper analyzes the joint behavior of international capital flows by foreign and domestic agents-gross capital flows-over the business cycle and during financial crises. The authors show that gross capital flows are very large and volatile, especially relative to net capital flows. When foreigners invest in a country, domestic agents tend to invest abroad, and vice versa. Gross capital flows are also pro-cyclical, with foreigners investing more in the country and domestic agents investing more abroad during expansions. During crises, especially during severe ones, there is retrenchment, that is, a reduction in both capital inflows by foreigners and capital outflows by domestic agents. This evidence sheds light on the nature of shocks driving capital flows and helps discriminate among existing theories. The findings seem consistent with shocks that affect foreign and domestic agents asymmetrically, such as sovereign risk and asymmetric information
    Weitere Ausg.: Broner, Fernando Gross Capital Flows
    Sprache: Englisch
    URL: Volltext  (Deutschlandweit zugänglich)
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
    BibTip Andere fanden auch interessant ...
  • 3
    Online-Ressource
    Online-Ressource
    [Washington, D.C] : World Bank
    UID:
    gbv_724212841
    Umfang: Online-Ressource
    Ausgabe: Online-Ausg. World Bank E-Library Archive Also available in print
    Serie: Policy research working paper 3389
    Inhalt: "Broner, Lorenzoni, and Schmukler argue that emerging economies borrow short term due to the high risk premium charged by international capital markets on long-term debt. They first present a model where the debt maturity structure is the outcome of a risk-sharing problem between the government and bondholders. By issuing long-term debt, the government lowers the probability of a liquidity crisis, transferring risk to bondholders. In equilibrium, this risk is reflected in a higher risk premium and borrowing cost. Therefore, the government faces a tradeoff between safer long-term borrowing and cheaper short-term debt. Second, the authors construct a new database of sovereign bond prices and issuance. They show that emerging economies pay a positive term premium (a higher risk premium on long-term bonds than on short-term bonds). During crises, the term premium increases, with issuance shifting toward shorter maturities. This suggests that changes in bondholders' risk aversion are important to understand emerging market crises. This paper--a product of the Investment Climate Team, Development Research Group--is part of a larger effort in the group to understand financial markets in emerging economies"--World Bank web site
    Anmerkung: Includes bibliographical references , Title from PDF file as viewed on 9/8/2004 , Also available in print.
    Weitere Ausg.: Broner, Fernando Why do emerging economies borrow short term?
    Sprache: Englisch
    URL: Volltext  (Deutschlandweit zugänglich)
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
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