International Capital Market Imperfections
Author : Yong-hyŏp O
Publisher :
Page : 32 pages
File Size : 24,6 MB
Release : 2004
Category : Capital market
ISBN : 9788932240268
Author : Yong-hyŏp O
Publisher :
Page : 32 pages
File Size : 24,6 MB
Release : 2004
Category : Capital market
ISBN : 9788932240268
Author : Yonghyup Oh
Publisher : 대외경제정책연구원
Page : 48 pages
File Size : 11,91 MB
Release : 2004
Category : Capital market
ISBN :
Author : Tullio Jappelli
Publisher :
Page : 52 pages
File Size : 13,26 MB
Release : 1988
Category : Capital market
ISBN :
Author : Eric Michael Schone
Publisher :
Page : 368 pages
File Size : 20,33 MB
Release : 1991
Category : Foreign exchange rates
ISBN :
Author : John H. Boyd
Publisher :
Page : 70 pages
File Size : 47,80 MB
Release : 1993
Category :
ISBN :
Author : Haluk Akdoğan
Publisher : Edward Elgar Publishing
Page : 214 pages
File Size : 38,40 MB
Release : 1995
Category : Business & Economics
ISBN :
The integration of international capital markets is central to the major economic changes taking place throughout the world. This key issue in global finance is analyzed, both theoretically and empirically, in this book.
Author : Alberto Martin
Publisher :
Page : 0 pages
File Size : 46,12 MB
Release : 2010
Category : Capital movements
ISBN :
The financial crisis of 2007-08 has underscored the importance of adverse selection in financial markets. This friction has been mostly neglected by macroeconomic models of financial frictions, however, which have focused almost exclusively on the effects of limited pledgeability. In this paper, we fill this gap by developing a standard growth model with adverse selection. Our main results are that, by fostering unproductive investment, adverse selection: (i) leads to an increase in the economy's equilibrium interest rate, and; (ii) it enerates a negative wedge between the marginal return to investment and the equilibrium interest rate. Under financial integration, we show how this translates into excessive capital inflows and endogenous cycles. We also explore how these results change when limited pledgeability is added to the model. We conclude that both frictions complement one another and argue that limited pledgeability exacerbates the effects of adverse selection.
Author : Maurice Obstfeld
Publisher : Cambridge University Press
Page : 386 pages
File Size : 15,53 MB
Release : 2004
Category : Business & Economics
ISBN : 9780521671798
This book is an economic survey of international capital mobility from the late nineteenth century to the present.
Author : Mr.Tamim Bayoumi
Publisher : International Monetary Fund
Page : 26 pages
File Size : 32,24 MB
Release : 1994-10-01
Category : Business & Economics
ISBN : 1451939698
The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.
Author : John H. Boyd
Publisher :
Page : 0 pages
File Size : 50,1 MB
Release : 1994
Category :
ISBN :