Download or read book International Capital Movements and Long Run Diversification written by Wilfred Ethier and published by . This book was released on 1970 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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.
Download or read book Long Term International Capital Movements and Technology written by Harm Zebregs and published by International Monetary Fund. This book was released on 1999-09 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Focuses on long-term investment flows, as these are more affected by international differences in technologiesthan short-term financial flows.
Download or read book International Capital Movements written by Charles P. Kindleberger and published by Cambridge University Press. This book was released on 1988-06-24 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1988, this study of international capital movements looks at their historical role in the financing of trade and their dramatically increased role in the world economy in recent years. It examines the current economic theory and the policy implications of these changes. Beginning with an analysis of the balance of payments, the authors goes on to discuss international short-term and long-term capital movements, both historically and with reference to current events. A further chapter deals with financial deregulation and the progression during the last few years towards the integration of international capital markets. The author looks forward to two possible futures for international finance: a gradual federalisation of macro-economic behaviour on a world basis, or a move towards self-reliance and autarky. The book is based on the author's Marshall Lectures, given in the University of Cambridge. It will be of interest to those studying international and financial economies, graduate students and those involved in the formulation of policy.
Download or read book International Capital Movements written by John Black and published by Springer. This book was released on 1982-06-18 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Capital Movements and Economic Integration written by Hans O. Lundström and published by . This book was released on 1961 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Globalization and Capital Markets written by Maurice Obstfeld and published by . This book was released on 2002 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: Looks at international capital flows since the nineteenth century.
Download or read book Emigration and Its Effects on the Sending Country written by Beth J. Asch and published by RAND Corporation. This book was released on 1994 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are the effects of immigration on the sending country? Studies suggest that emigration has a positive effect.
Download or read book Global Capital Markets written by Maurice Obstfeld and published by Cambridge University Press. This book was released on 2004 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is an economic survey of international capital mobility from the late nineteenth century to the present.
Download or read book The Integration of World Capital Markets written by Mr.Michael Mussa and published by International Monetary Fund. This book was released on 1993-12-01 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the extent to which national capital markets have become linked, and identifies several of the more important consequences of that increased degree of integration. Alternative approaches to the measurement of capital market integration are reviewed, including deviations from the law of one price, differences between actual and optimally diversified portfolios, correlations between domestic investment and domestic saving, and cross-country links in consumption behavior. Two recent episodes of large-scale international capital flows—namely, the turmoil in the European Monetary System in the fall of 1992, and the surge of capital inflows into Latin America during the last three years—are examined for insights into the workings of today’s global capital market. Finally, the paper offers some concluding remarks on the future development of international capital markets, on exchange rate management, on alternative approaches to living with larger and more influential financial markets, and on the financing of investment in the formerly centrally planned economies.
Download or read book Long Run International Diversification written by Thomas Conlon and published by . This book was released on 2016 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: The evidence for international diversification as a means to curtail portfolio risk relies predominantly on short-run data. In this paper, we examine the extent to which the risk reduction benefits of international investment hold in the long-run. Employing a multi-horizon non-parametric filter, we develop a long-run correlation estimator and exploit this to decompose the long-run inter-market relationship into short-run components. We observe raised correlations between international equity indices in the long-run. Investigating the economic significance for investors, we find the long-run benefits of international diversification to be attenuated. Increasing long-run correlation is modeled as a function of short-run data accounting for characteristics pervasive in financial time series. This indicates that perceived risk reduction benefits may be overstated using short-run data.
Download or read book Globalization in Historical Perspective written by Michael D. Bordo and published by University of Chicago Press. This book was released on 2007-11-01 with total page 600 pages. Available in PDF, EPUB and Kindle. Book excerpt: As awareness of the process of globalization grows and the study of its effects becomes increasingly important to governments and businesses (as well as to a sizable opposition), the need for historical understanding also increases. Despite the importance of the topic, few attempts have been made to present a long-term economic analysis of the phenomenon, one that frames the issue by examining its place in the long history of international integration. This volume collects eleven papers doing exactly that and more. The first group of essays explores how the process of globalization can be measured in terms of the long-term integration of different markets-from the markets for goods and commodities to those for labor and capital, and from the sixteenth century to the present. The second set of contributions places this knowledge in a wider context, examining some of the trends and questions that have emerged as markets converge and diverge: the roles of technology and geography are both considered, along with the controversial issues of globalization's effects on inequality and social justice and the roles of political institutions in responding to them. The final group of essays addresses the international financial systems that play such a large part in guiding the process of globalization, considering the influence of exchange rate regimes, financial development, financial crises, and the architecture of the international financial system itself. This volume reveals a much larger picture of the process of globalization, one that stretches from the establishment of a global economic system during the nineteenth century through the disruptions of two world wars and the Great Depression into the present day. The keen analysis, insight, and wisdom in this volume will have something to offer a wide range of readers interested in this important issue.
Download or read book International Trade and Investment Under Different Rates of Time Preference written by Kyoji Fukao and published by . This book was released on 1990 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper attempts to integrate the theory of trade with that of capital movements, and to study the two country world where each nation has a different rate of time preference. It resolves the indeterminacy problem intrinsic in the Heckscher-Ohlin model where trade and factor movements coexist by assuming that capital movements are infinitesimally more costly than trade in goods. Under certain assumptions, one can dichotomize the behavior of asset accumulation from the dynamic pattern of trade specialization. Complete specialization will take place most; likely in the country with a higher rate of time preference, which specializes into the more labor intensive sector. It is shown that a single-commodity model does exaggerate the amount of capital movements, but that the qualitative nature of asset accumulation patterns obtained in a single-commodity model of capital movements holds intact in the model that incorporates trade. This paper offers another explanation to the Feldstein-Horioka paradox that domestic investment responds more closely to increasing savings than capital outflows do. If an economy is imperfectly specialized, increased savings will be absorbed in capital deepening rather than in capital outflow.
Download or read book International Capital Flows written by Helen Popper and published by . This book was released on 2016 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Empirical support for the conventional notion that short-term investment is hot money and direct investment is not: short-term investment appears to respond more dramatically to disturbances in other capital flows and in other countries than does direct investment.Chuhan, Perez-Quiros, and Popper examine the behavior of four major components of international capital flows in 15 developing and industrial countries.Striking differences in the behavior of the component flows arise in general specifications that allow the flows to interact. For example, in each country, the behavior of international short-term investment appears to be sensitive to changes in all the other types of international capital flows, including direct investment, but direct investment appears to be insensitive to such changes.Among the links across countries, there is further evidence that short-term investment is more sensitive than direct investment. A particularly telling example is found in the response to sudden changes in capital flows to Mexico. A disturbance in Mexican short-term investment appears to be transmitted quickly to the other Latin American countries studied. But there appears to be little response by those countries to a similar change in direct investment. This implies that only short-term investment suffers much from the tequila hangover.In finding that short-term investment appears to respond more dramatically to disturbances in other capital flows and in other countries than does direct investment, the authors provide empirical support for the conventional notion that short-term investment is hot money and direct investment is not.This paper - a product of the Development Data Group and the International Finance Division, International Economics Department - is part of a larger effort in the department to study the determinants of capital flows to developing countries.
Download or read book stock market development and long run growth written by Ross Levine and published by World Bank Publications. This book was released on 1996 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book International Capital Flows written by Punam Chuhan and published by . This book was released on 1996 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book International migration capital flows and the global economy written by Andrés Solimano and published by United Nations Publications. This book was released on 2005 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
