The Resource International Capital Mobility and Financial Fragility - Part 4. Which Structural Policies Stabilise Capital Flows When Investors Suddenly Change Their Mind? : Evidence from Bilateral Bank Data, Rudiger Ahrend and Cyrille Schwellnus, (electronic resource)

International Capital Mobility and Financial Fragility - Part 4. Which Structural Policies Stabilise Capital Flows When Investors Suddenly Change Their Mind? : Evidence from Bilateral Bank Data, Rudiger Ahrend and Cyrille Schwellnus, (electronic resource)

Label
International Capital Mobility and Financial Fragility - Part 4. Which Structural Policies Stabilise Capital Flows When Investors Suddenly Change Their Mind? : Evidence from Bilateral Bank Data
Title
International Capital Mobility and Financial Fragility - Part 4. Which Structural Policies Stabilise Capital Flows When Investors Suddenly Change Their Mind?
Title remainder
Evidence from Bilateral Bank Data
Statement of responsibility
Rudiger Ahrend and Cyrille Schwellnus
Creator
Contributor
Subject
Language
eng
Summary
The global financial crisis of 2007-09 and the ensuing sovereign debt crisis in Europe provide evidence that portfolio rebalancing of financial investors can contribute to spread financial turmoil across countries. Rebalancing of portfolios, in turn, may be driven by the need to meet liquidity or capital requirements, or by sudden changes in investor sentiment. This paper tests explicitly for the change-insentiment channel of financial contagion. Using bilateral bank data and an instrumental variables technique that allows focusing on changes in investors' country assessments that are unrelated to fundamentals, changes in investor sentiment are indeed found to drive capital flows. Sentiment-driven capital flows are found to be smaller in countries with a tougher regulatory stance, such as stricter banking supervision or enhanced financial transparency
Member of
Cataloging source
FR-PaOEC
http://library.link/vocab/creatorName
Ahrend, Rudiger
Government publication
international or intergovernmental publication
Index
no index present
Literary form
non fiction
Nature of contents
dictionaries
http://library.link/vocab/relatedWorkOrContributorName
Schwellnus, Cyrille
Series statement
OECD Economics Department Working Papers,
Series volume
no.967
http://library.link/vocab/subjectName
Economics
Label
International Capital Mobility and Financial Fragility - Part 4. Which Structural Policies Stabilise Capital Flows When Investors Suddenly Change Their Mind? : Evidence from Bilateral Bank Data, Rudiger Ahrend and Cyrille Schwellnus, (electronic resource)
Instantiates
Publication
Antecedent source
not applicable
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
800720918
Dimensions
21 x 30 cm
Extent
1 electronic resource 25 pages
File format
one file format
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1787/5k97fmss637j-en
Specific material designation
remote
System control number
(OCoLC)800720918
Label
International Capital Mobility and Financial Fragility - Part 4. Which Structural Policies Stabilise Capital Flows When Investors Suddenly Change Their Mind? : Evidence from Bilateral Bank Data, Rudiger Ahrend and Cyrille Schwellnus, (electronic resource)
Publication
Antecedent source
not applicable
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
800720918
Dimensions
21 x 30 cm
Extent
1 electronic resource 25 pages
File format
one file format
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1787/5k97fmss637j-en
Specific material designation
remote
System control number
(OCoLC)800720918

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