منابع مشابه
The Relationships among Capital Flow Surges, Reversals and Sudden Stops
We contribute to the growing literature on the behavior of capital flow surges and their relationships with sudden stops and capital flow reversals. We suggest a definition of true sudden stops based on gross foreign flows that is a subset of net capital flow reversals. We find that a majority of surges end in reversals of some type and this percentage is only slightly over half for surges in n...
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Emerging market economies are fertile ground for the development of real estate and other financial bubbles. Despite these economies’ significant growth potential, their corporate and government sectors do not generate the financial instruments to provide residents with adequate stores of value. Capital often flows out of these economies seeking these stores of value in the developed world. Bub...
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Estimation of Rybczynski e®ects in a sample of 14 developing countries over 1982-1992 reveals a puzzle: labor-intensive manufacturing sectors tend to expand and capital-intensive manufacturing sectors contract as country capital abundance increases, after allowing for changes in technology, skill, and trade barrier. Empirical tests show strong evidence of multiple diversi ̄cation cones in the fu...
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Bali and Cakici (2006) find no relation between equally-weighted portfolio returns and idiosyncratic risk, whereas Ang et al. (2006a) report a negative relation between value-weighted portfolio returns and idiosyncratic risk. Our analyses demonstrate that both findings can be explained by short-term monthly return reversals. The abnormal positive returns from taking a long (short) position in t...
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ژورنال
عنوان ژورنال: Economics Letters
سال: 2001
ISSN: 0165-1765
DOI: 10.1016/s0165-1765(01)00408-6