Arbeitspapier
Capital flows and financial stability in emerging economies
There is mixed evidence for the impact of international capital flows on financial sector's stability. This paper investigates the relationship between components of gross capital flows and various financial stability indicators for 16 emerging and newly industrialized economies. Departing from panel data methods, for each financial stability proxy, we employ systems of seemingly unrelated regression estimators to allow variation in the estimated relationship across countries, while permitting crossequation restrictions to be imposed within a country. The findings suggest that, after controlling for macroeconomic factors, there are significant effects of different gross capital flow measures on the financial stability proxies. However, the effects are not homogeneous across our sample economies and across flows. Country-specific financial and macroeconomic characteristics help to explain some of these differences.
- Sprache
-
Englisch
- Erschienen in
-
Series: ADB Economics Working Paper Series ; No. 522
- Klassifikation
-
Wirtschaft
Financial Markets and the Macroeconomy
Open Economy Macroeconomics
- Thema
-
emerging economies
financial stability
international capital flows
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Baum, Christopher F.
Pundit, Madhavi
Ramayandi, Arief
- Ereignis
-
Veröffentlichung
- (wer)
-
Asian Development Bank (ADB)
- (wo)
-
Manila
- (wann)
-
2017
- DOI
-
doi:10.22617/WPS179090-2
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Baum, Christopher F.
- Pundit, Madhavi
- Ramayandi, Arief
- Asian Development Bank (ADB)
Entstanden
- 2017
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