European Financial Linkages
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| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 62 |
| Release | : 2010-12-01 |
| Genre | : Business & Economics |
| ISBN | : 1455211761 |
We document external investment positions among European Union countries at the start of the financial crisis through the creation of a new database comprising bilateral external financial asset and liabilities, excluding reserve assets and derivatives. While there are some gaps in the data, the overall coverage of reported bilateral net international investment positions (IIPs) appears satisfactory. The dataset provides a richer picture of financial linkages, enabling us to map the financing of Euro area imbalances. Creditor and debtor positions vis-à-vis the rest of the EU have tended to increase between 2000 and 2008, with capital flowing largely from wealthier to catching-up economies. This has in particular resulted in an increased interdependency among Euro Area economies.
| Author | : Otaviano Canuto |
| Publisher | : World Bank Publications |
| Total Pages | : 307 |
| Release | : 2013-10-29 |
| Genre | : Business & Economics |
| ISBN | : 1464800030 |
This book deals with the challenges of macro financial linkages in the emerging markets.
| Author | : Hannes Böhm |
| Publisher | : |
| Total Pages | : |
| Release | : 2020 |
| Genre | : |
| ISBN | : |
We analyse whether financial integration between countries leads to converging or diverging business cycles using a dynamic spatial model. Our model allows for contemporaneous spillovers of shocks to GDP growth between countries that are financially integrated and delivers a scalar measure of the spillover intensity at each point in time. For a financial network of ten European countries from 1996-2017, we find that the spillover effects are positive on average but much larger during periods of financial stress, pointing towards stronger business cycle synchronisation. Dismantling GDP growth into value added growth of ten major industries, we observe that some sectors are strongly affected by positive spillovers (wholesale & retail trade, industrial production), others only to a weaker degree (agriculture, construction, finance), while more nationally influenced industries show no evidence for significant spillover effects (public administration, arts & entertainment, real estate).
| Author | : Mr.Francesco Strobbe |
| Publisher | : International Monetary Fund |
| Total Pages | : 56 |
| Release | : 2010-11-01 |
| Genre | : Business & Economics |
| ISBN | : 1455209570 |
We present a novel and comprehensive dataset of bilateral gross and net external positions in various financial instruments for the main advanced and emerging economies and regions, designed to improve our understanding of cross-border financial linkages. The data show no strong correspondence between country or region pairs with the largest gross versus net external positions, and the importance of international financial centers, including offshore centers, in intermediating financial flows. We also highlight some important data gaps in completing a network of cross-border holdings, related to the limited available information on the size and geographical pattern of external claims and liabilities of offshore centers, oil exporters, and other mostly emerging markets.
| Author | : Ingrid Ulst |
| Publisher | : Central European University Press |
| Total Pages | : 145 |
| Release | : 2005-05-10 |
| Genre | : Business & Economics |
| ISBN | : 6155053669 |
Financial services industry has shown trends of increased consolidation across different types of financial institutions. This book focuses on the conglomeration of banking and insurance activities among financial institutions of the 15 old members of the European Union, and addresses the development and impact of conglomeration linkages between these fifteen and the ten new member states. Most of the large groups combining banking and insurance activities groups among the former member states of the European Union are often linked to the largest such institutions in the new member states, having created the linkages mainly through Merger & Acquisition Activities; with greater accent on the banking sector and lesser connections on insurance side. Financial conglomeration linkages between the EU-15 and the new member states highlight investment attractiveness of the new members, with the appeal of new markets that allow the presence of more participants. Both institution-specific and country-specific factors play role in conglomeration across the new member states.
| Author | : Hannes Boehm |
| Publisher | : |
| Total Pages | : |
| Release | : 2020 |
| Genre | : |
| ISBN | : |
We analyze whether financial integration between countries leads to converging or diverging business cycles using a dynamic spatial model. Our model allows for contemporaneous spillovers of shocks to GDP growth between countries that are financially integrated and delivers a scalar measure of the spillover intensity at each point in time. For a financial network of ten European countries from 1996-2017, we find that the spillover effects are positive on average but much larger during periods of financial stress, pointing towards stronger business cycle synchronization. Dismantling GDP growth into value added growth of ten major industries, we observe that some sectors are strongly affected by positive spillovers (wholesale & retail trade, industrial production), others only to a weaker degree (agriculture, construction, finance), while more nationally influenced industries show no evidence for significant spillover effects (public administration, arts & entertainment, real estate).
| Author | : Ms.Inci Ötker |
| Publisher | : International Monetary Fund |
| Total Pages | : 36 |
| Release | : 2009-06-01 |
| Genre | : Business & Economics |
| ISBN | : 1451872704 |
This paper develops a stylized, small, open economy macro model that incorporates an explicit and non-trivial role for financial intermediation. It illustrates how such a model could be used for policy analysis in an emerging market economy where policymakers are concerned about risks associated with rapid credit growth, financial dollarization, and foreign borrowing, while lacking traditional tools to effect monetary policy transmission, and hence could resort to more direct instruments, such as foreign exchange market intervention and regulatory and administrative measures. Calibrating the model to a stylized emerging European economy, the paper simulates real and financial sector implications of various external and policy-related shocks that could be used as input for monetary policy making.
| Author | : Gavin Boyd |
| Publisher | : Edward Elgar Publishing |
| Total Pages | : 272 |
| Release | : 2005-01-01 |
| Genre | : Business & Economics |
| ISBN | : 9781845426699 |
In this, his final book, Gavin Boyd has brought together a distinguished group of experts on the nature and extent of transatlantic policy coordination and its implication for corporate strategy. This remarkably relevant set of papers offer a discussion on the economic and financial linkage between Europe and North America, as well as the trade and investment rules governing this interaction. The complexities of the transatlantic relationship are analyzed in chapters dealing with: financial integration, transfer of knowledge and technology, transatlantic trade and corporate partnership, transatlantic trade and investment links, simultaneous intra-regional as well as transatlantic trade and the implications for antitrust policy of the activities of multinational enterprises, structural positioning and macroeconomic policy coordination, international interdependence and the role of entrepreneurship, and the reform of international financial markets. Exploring growing transatlantic trade and investment linkages within their institutional contexts, this timely book will be invaluable to academics and researchers with an interest in international business and international economics. Practicing trade lawyers and policymakers will also find the book to be a fascinating read.
| Author | : Zsófia Árvai |
| Publisher | : International Monetary Fund |
| Total Pages | : 44 |
| Release | : 2009 |
| Genre | : Business & Economics |
| ISBN | : |
This paper focuses on financial interlinkages within Europe and potential contagion channeled through these interlinkages. It discusses the increased role of external financing as a source of funding for credit growth; analyzes potential channels of contagion through financial linkages; and assesses the magnitude of cross-border exposures between emerging and western European countries. Based on the stylized facts on these exposures, the paper provides simple indices of exposure to regional contagion that could help identify the likely pressure points and capture potential spillover effects and propagation channels of a regional shock originating from a given country.
| Author | : Škrinjari?, Tihana |
| Publisher | : IGI Global |
| Total Pages | : 432 |
| Release | : 2020-09-25 |
| Genre | : Business & Economics |
| ISBN | : 1799850846 |
In today’s financial market, portfolio and risk management are facing an array of challenges. This is due to increasing levels of knowledge and data that are being made available that have caused a multitude of different investment models to be explored and implemented. Professionals and researchers in this field are in need of up-to-date research that analyzes these contemporary models of practice and keeps pace with the advancements being made within financial risk modelling and portfolio control. Recent Applications of Financial Risk Modelling and Portfolio Management is a pivotal reference source that provides vital research on the use of modern data analysis as well as quantitative methods for developing successful portfolio and risk management techniques. While highlighting topics such as credit scoring, investment strategies, and budgeting, this publication explores diverse models for achieving investment goals as well as improving upon traditional financial modelling methods. This book is ideally designed for researchers, financial analysts, executives, practitioners, policymakers, academicians, and students seeking current research on contemporary risk management strategies in the financial sector.
