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The Evolution of Asian Financial Linkages : : Key Determinants and the Role of Policy / / Selim Elekdag, Phurichai Rungcharoenkitkul, Yiqun Wu



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Autore: Elekdag Selim Visualizza persona
Titolo: The Evolution of Asian Financial Linkages : : Key Determinants and the Role of Policy / / Selim Elekdag, Phurichai Rungcharoenkitkul, Yiqun Wu Visualizza cluster
Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2012
Edizione: 1st ed.
Descrizione fisica: 1 online resource (28 p.)
Disciplina: 330.95353
Soggetto topico: Economic development - Asia
Banks and Banking
Exports and Imports
Finance: General
Foreign Exchange
Investments: Stocks
Investments: General
International Finance: General
General Financial Markets: General (includes Measurement and Data)
Banks
Depository Institutions
Micro Finance Institutions
Mortgages
International Investment
Long-term Capital Movements
Pension Funds
Non-bank Financial Institutions
Financial Instruments
Institutional Investors
Investment
Capital
Intangible Capital
Capacity
Finance
Banking
Currency
Foreign exchange
Investment & securities
Macroeconomics
Stock markets
Exchange rate arrangements
Foreign direct investment
Stocks
Financial markets
Balance of payments
Financial institutions
Return on investment
National accounts
Stock exchanges
Banks and banking
Investments, Foreign
Saving and investment
Soggetto geografico: Asia Economic policy
Asia Economic conditions
United States
Altri autori: RungcharoenkitkulPhurichai  
WuYiqun  
Note generali: Description based upon print version of record.
Nota di bibliografia: Includes bibliographical references.
Nota di contenuto: Cover; Contents; I. Introduction; Figures; 1. Equity Returns: Selected Systemic Economies and Asia; II. Model and Estimation Framework; A. Approach I: Focusing on Cross-Sectional Variation; B. Approach II: A Deeper Investigation of Time Series Fluctuations; III. Results; Tables; 1. Pure and CAPM; 1. Non-Zero Expected Risk Premium; 2. Heterogeneous Expected Premium (Fixed Effects); 2. Asian Financial Betas and Global Financial Shocks; 3. Financial Betas across Asian Economies; 4. Contributions to Differences in Betas between 2008-2011 and 2002-2007
5. Contributions to Differences in Betas between 1997-2001 and 2002-20074. Determinants of Asian Financial Betas; 6. The Decomposition of Financial Betas across Asia over Time; 5. Nonlinear Effects of Reserves; IV. Conclusion; Appendix Table: Estimated Factor Loadings (Betas) Over the Full Sample; References
Sommario/riassunto: This paper examines how Asian financial linkages with systemic economies have changed over time. After developing a factor model, it estimates Asian financial sensitivities to systemic economies, and then seeks to uncover their key determinants, which include trade and financial linkages, as well as policies. In line with Asia’s growing role in the global economy—including through deeper financial integration—regional financial markets have become more sensitive to systemic economies. Asian financial sensitivities to systemic economies exhibit cyclical fluctuations, and reached historically high levels during the latest global financial crisis of 2008–09. While macroeconomic policy frameworks have helped Asian economies cope well with market turbulence, they cannot completely insulate Asian financial markets against major global financial shocks. .
Titolo autorizzato: The Evolution of Asian Financial Linkages  Visualizza cluster
ISBN: 1-4755-8000-2
1-4755-6953-X
1-283-86685-4
1-4755-8396-6
Formato: Materiale a stampa
Livello bibliografico Monografia
Lingua di pubblicazione: Inglese
Record Nr.: 9910811222503321
Lo trovi qui: Univ. Federico II
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Serie: IMF Working Papers; Working Paper ; ; No. 2012/262