Arbeitspapier
Financial remoteness and the net external position
This paper shows that, controlling for standard determinants of net external positions, financially-remote countries exhibit more positive net external positions. This finding is found to be stronger for less advanced countries, hinting at external funding problems for more remote countries. Being located near financially very open countries, being in currency unions with creditor countries, or being highly integrated through financial and trade linkages with a ‘core’ country facilitates net external borrowing. Consequently, evidence is found for an important role of geographic and bilateral factors for a country’s net external wealth.
- Language
-
Englisch
- Bibliographic citation
-
Series: ECB Working Paper ; No. 1330
- Classification
-
Wirtschaft
International Investment; Long-term Capital Movements
International Lending and Debt Problems
Open Economy Macroeconomics
- Subject
-
Cross-Border Investment
distance
net foreign assets
proximity
- Event
-
Geistige Schöpfung
- (who)
-
Schmitz, Martin
- Event
-
Veröffentlichung
- (who)
-
European Central Bank (ECB)
- (where)
-
Frankfurt a. M.
- (when)
-
2011
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Schmitz, Martin
- European Central Bank (ECB)
Time of origin
- 2011
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