International Economics最新文献_第10页

Remittances and government expenditures on human capital in developing countries 发展中国家的汇款和政府人力资本支出

International Economics Pub Date : 2024-05-14 DOI: 10.1016/j.inteco.2024.100508

Kevin Williams

引用次数: 0

The effects of foreign investor composition on Colombia's sovereign debt flows 外国投资者构成对哥伦比亚主权债务流动的影响

International Economics Pub Date : 2024-05-09 DOI: 10.1016/j.inteco.2024.100507

Fredy Gamboa-Estrada , Andres Sanchez-Jabba

引用次数: 0

A decade of Eurasian integration: An ex-post non-parametric assessment of the Eurasian economic union 欧亚一体化十年：对欧亚经济联盟的事后非参数评估

International Economics Pub Date : 2024-05-07 DOI: 10.1016/j.inteco.2024.100506

Pierluigi Montalbano , Augusto Cerqua , Zhansaya Temerbulatova

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引用次数: 0

(Mis)Alignment between observed and expected monetary policy: The case of Brazil (观察到的货币政策与预期的货币政策（不）一致：巴西的案例

International Economics Pub Date : 2024-04-27 DOI: 10.1016/j.inteco.2024.100505

Jose Angelo Divino , Carlos Haraguchi

引用次数: 0

Determinants of PTA design: Insights from machine learning PTA 设计的决定因素：机器学习的启示

International Economics Pub Date : 2024-04-20 DOI: 10.1016/j.inteco.2024.100504

Stepan Gordeev , Sandro Steinbach

引用次数: 0

Extreme downside risk connectedness and portfolio hedging among the G10 currencies G10 货币之间的极端下行风险关联性和投资组合对冲

International Economics Pub Date : 2024-04-14 DOI: 10.1016/j.inteco.2024.100503

Emmanuel Joel Aikins Abakah , Mariem Brahim , Jean-Etienne Carlotti , Aviral Kumar Tiwari , Walid Mensi

{"title":"Extreme downside risk connectedness and portfolio hedging among the G10 currencies","authors":"Emmanuel Joel Aikins Abakah , Mariem Brahim , Jean-Etienne Carlotti , Aviral Kumar Tiwari , Walid Mensi","doi":"10.1016/j.inteco.2024.100503","DOIUrl":"https://doi.org/10.1016/j.inteco.2024.100503","url":null,"abstract":"<div><p>This study investigates the frequency connectedness among foreign exchange markets of G10 countries, focusing on tail risk and its implications for portfolio management. To do so, we use a novel framework that combines the Conditional Autoregressive Value-at-Risk (CAViaR) model with the novel time-varying frequency and quantile connectedness method developed by Chatziantoniou et al. (2022) based on Baruník and Křehlík (2018) and Ando et al. (2018) approach. A key value of this paper to the literature is the provision of fresh empirical evidence on the extreme downside linkages among the markets examined. From the average connectedness measures, the top shock transmitters within the network were EUR, NOK, AUD, SEK, and NZD, while the main shock receivers emerged to be JPY and CHF, followed by CAD and GBP. We note that events in the major funding markets (the Eurozone, Japan) have a higher impact on the participants in these same markets than in relatively small markets (New Zealand, Norway). From the dynamic connectedness results, the magnitude of connectedness for the entire sample period increased during the COVID-19 era, compared to the magnitude before the COVID-19 outbreak. The cumulative spillover also reveals that USDNOK is the vastest net transmitter of spillovers to other markets, including SEK, CHF, and AUD. However, the EUR is the largest net beneficiary followed by JPY and CAD. Findings from the time-varying extreme downside analysis suggest that throughout the period, SEK and NOK are the other currencies' strongest and most frequent net spillover shock emitters for the short-, medium-, and long-term dynamics. Currency portfolio implications are discussed.</p></div>","PeriodicalId":13794,"journal":{"name":"International Economics","volume":"178 ","pages":"Article 100503"},"PeriodicalIF":0.0,"publicationDate":"2024-04-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140643631","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Does trade openness improve or worsen public governance in sub-Saharan Africa? 贸易开放会改善还是恶化撒哈拉以南非洲的公共治理？

International Economics Pub Date : 2024-04-09 DOI: 10.1016/j.inteco.2024.100502

Gislain Stéphane Gandjon Fankem , Cédric Feyom

{"title":"Does trade openness improve or worsen public governance in sub-Saharan Africa?","authors":"Gislain Stéphane Gandjon Fankem , Cédric Feyom","doi":"10.1016/j.inteco.2024.100502","DOIUrl":"10.1016/j.inteco.2024.100502","url":null,"abstract":"<div><p>The literature on the effect of trade openness on public governance shows contrasting results. Using a renewed empirical strategy, we contribute to the understanding of this indeterminacy by studying the influence of trade openness on public governance in Sub-Saharan Africa. We also examine how this effect varies with structural characteristics that may be subject to reforms. In this respect, we use an original measure of trade openness. We consider public governance and its three dimensions, namely economic governance, political governance, and institutional governance. Overall, we find that trade openness improves public governance, political governance, and economic governance. On the other hand, it worsens institutional governance. Moreover, these effects of trade openness on the dimensions of public governance depend on the defined levels of technology transfer, foreign direct investment, and natural resources. Our results are robust to different openness and governance indicators, alternative specifications, study periods, endogeneity, and cross-sectional dependence. Above all, they highlight the interest of dissociating public governance to understand the contrast observed in the empirical literature.</p></div>","PeriodicalId":13794,"journal":{"name":"International Economics","volume":"178 ","pages":"Article 100502"},"PeriodicalIF":0.0,"publicationDate":"2024-04-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140757082","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Shipping cost uncertainty, endogenous regime switching and the global drivers of inflation 航运成本不确定性、内生制度转换和全球通胀驱动因素

International Economics Pub Date : 2024-03-29 DOI: 10.1016/j.inteco.2024.100500

Christina Anderl , Guglielmo Maria Caporale

{"title":"Shipping cost uncertainty, endogenous regime switching and the global drivers of inflation","authors":"Christina Anderl , Guglielmo Maria Caporale","doi":"10.1016/j.inteco.2024.100500","DOIUrl":"https://doi.org/10.1016/j.inteco.2024.100500","url":null,"abstract":"<div><p>The recent Covid-19 pandemic has disrupted global supply chains and led to large increases in shipping costs. This paper provides shipping cost mean and uncertainty measures using the endogenous regime switching model with dynamic feedback and interactions developed by Chang et al. (2023). The uncertainty indicator measures overall risk in the shipping market and is shown to represent a useful addition to the existing set of economic and financial uncertainty indices. Both the shipping cost mean and uncertainty measures are then included in structural VAR models for the US, the UK, and the euro area to examine the pass-through to headline CPI, core CPI, PPI, and import price inflation vis-à-vis other global and domestic shocks. The results suggest that shipping cost uncertainty shocks have sizeable effects on all inflation measures and are characterized by a stronger pass-through than that of other domestic or global shocks. Unlike the latter, they also significantly affect core CPI inflation. These findings imply that shipping cost mean and uncertainty should also be considered by policymakers when assessing the global drivers of inflation.</p></div>","PeriodicalId":13794,"journal":{"name":"International Economics","volume":"178 ","pages":"Article 100500"},"PeriodicalIF":0.0,"publicationDate":"2024-03-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2110701724000234/pdfft?md5=af06b9cc54edbfb76170e8abd58356be&pid=1-s2.0-S2110701724000234-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140341484","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The gravity of Offshore Financial Centers: Estimating real FDIs using a binary choice model 离岸金融中心的引力：利用二元选择模型估算实际外国直接投资

International Economics Pub Date : 2024-03-27 DOI: 10.1016/j.inteco.2024.100501

Marco Albori, Alessio Anzuini, Fabrizio Ferriani, Luca Rossi

引用次数: 0

Analysing the effect of foreign aid on industrialization: Evidence from Africa 分析外国援助对工业化的影响：非洲的证据

International Economics Pub Date : 2024-03-24 DOI: 10.1016/j.inteco.2024.100498

Honoré Tékam Oumbé , Ronald Djeunankan , Alice Kos A Mougnol

{"title":"Analysing the effect of foreign aid on industrialization: Evidence from Africa","authors":"Honoré Tékam Oumbé , Ronald Djeunankan , Alice Kos A Mougnol","doi":"10.1016/j.inteco.2024.100498","DOIUrl":"10.1016/j.inteco.2024.100498","url":null,"abstract":"<div><p>The importance of industrialization as an engine of economic growth and structural transformation has been largely documented. Despite the benefits of industrialization, Africa has witnessed a de-industrialization in recent decades. This means that some important determinants of industrialization remain unidentified in Africa. This study fills this gap by analysing the effect of foreign aid on industrialization in 42 African countries over the period 1995–2021. Using the two-step system Generalized Method of Moments, the following results are established. First, on average, foreign aid hurts industrialization in Africa. Second, the effect of foreign aid depends on the nature of the aid since education and energy aid improve industrialization while health and humanitarian aid negatively affect it. Third, we find a U-shaped relationship between foreign aid and industrialization. Interestingly, democracy and human capital can mitigate the negative effect of foreign aid on industrialization. These results have strong economic policy implications for African countries, showing that they should put in more effort to strengthen their level of democracy and human capital in order to enjoy the positive effect of foreign aid on industrialization. Finally, this research contributes to the development of aid distribution plans that support African nations' industrialization.</p></div>","PeriodicalId":13794,"journal":{"name":"International Economics","volume":"178 ","pages":"Article 100498"},"PeriodicalIF":0.0,"publicationDate":"2024-03-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140402847","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0