Search

Content Types

Topics

JEL Codes

Locations

Departments

Authors

Sources

Statuses

Published After

Published Before

28 Results

Composition of International Capital Flows: A Survey

Staff Working Paper 2010-33 Koralai Kirabaeva, Assaf Razin
We survey several key mechanisms that explain the composition of international capital flows: foreign direct investment, foreign portfolio investment and debt flows (bank loans and bonds). In particular, we focus on the following market frictions: asymmetric information in capital markets and exposure to liquidity shocks.
Content Type(s): Staff research, Staff working papers Topic(s): International topics JEL Code(s): D, D8, D82, F, F2, F21, F3, F34

International Capital Flows and Bond Risk Premia

Staff Working Paper 2010-14 Jesus Sierra
This paper studies the impact of international capital flows on asset prices through risk premia. We investigate whether foreign purchases of U.S. Treasury securities significantly contributed to the decline in excess returns on long-term bonds between 1995 and 2008.
Content Type(s): Staff research, Staff working papers Topic(s): Financial markets JEL Code(s): C, C2, C22, F, F3, F31, F32, F34, G, G1, G11, G12, G15

How Important Is Liquidity Risk for Sovereign Bond Risk Premia? Evidence from the London Stock Exchange

Staff Working Paper 2008-47 Ron Alquist
This paper uses the framework of arbitrage-pricing theory to study the relationship between liquidity risk and sovereign bond risk premia. The London Stock Exchange in the late 19th century is an ideal laboratory in which to test the proposition that liquidity risk affects the price of sovereign debt.
Content Type(s): Staff research, Staff working papers Topic(s): Financial markets, International topics JEL Code(s): F, F2, F21, F3, F34, F36, G, G1, G12, G15

Good Policies or Good Fortune: What Drives the Compression in Emerging Market Spreads?

Staff Working Paper 2008-25 Philipp Maier, Garima Vasishtha
Since 2002, spreads on emerging market sovereign debt have fallen to historical lows. Given the close links between sovereign spreads, capital flows to emerging markets, and economic growth, understanding the factors driving these spreads is very important. We address this issue in two stages.

IMF-Supported Adjustment Programs: Welfare Implications and the Catalytic Effect

Staff Working Paper 2007-22 Carlos De Resende
The author studies the welfare implications of adjustment programs supported by the International Monetary Fund (IMF). He uses a model where an endogenous borrowing constraint, set up by international lenders who will never lend more than a debt ceiling, forces the borrowing economy to always choose repayment over default.
Content Type(s): Staff research, Staff working papers Topic(s): International topics JEL Code(s): F, F3, F32, F33, F34, F4, F41

Commodity-Linked Bonds: A Potential Means for Less-Developed Countries to Raise Foreign Capital

Staff Working Paper 2004-20 Joseph Atta-Mensah
The author suggests that commodity-linked bonds could provide a potential means for less-developed countries (LDCs) to raise money on the international capital markets, rather than through standard forms of financing.

The Resolution of International Financial Crises: Private Finance and Public Funds

Staff Working Paper 2001-20 Andy Haldane, Mark Kruger
Over the past year and a half, the Bank of England and the Bank of Canada have been developing a framework for the resolution of international financial crises that aligns incentives for all parties to deal with a crisis and preserve the integrity of the international financial system. The framework is built on principles, not rules.
Content Type(s): Staff research, Staff working papers Topic(s): International topics JEL Code(s): F, F3, F34, F4, F42
Go To Page