发布求助
文献互助 智能选刊 最新文献

Journal of Financial Perspectives最新文献

筛选
英文 中文
Financial Development in 205 Economies, 1960 to 2010 205个经济体的金融发展，1960年至2010年
Journal of Financial Perspectives Pub Date : 2013-04-01 DOI: 10.3386/W18946
M. Čihák, Asli Demirgüç-Kunt, E. Feyen, R. Levine
{"title":"Financial Development in 205 Economies, 1960 to 2010","authors":"M. Čihák, Asli Demirgüç-Kunt, E. Feyen, R. Levine","doi":"10.3386/W18946","DOIUrl":"https://doi.org/10.3386/W18946","url":null,"abstract":"This paper describes our construction of the Global Financial Development Database and uses the data to compare financial systems around the world. The database provides information on financial systems in 205 economies over the period from 1960 to 2010 and includes measures of (1) size of financial institutions and markets (financial depth), (2) degree to which individuals and firms can and do use financial services (access), (3) efficiency of financial intermediaries and markets in intermediating resources and facilitating financial transactions (efficiency), and (4) stability of financial institutions and markets (stability).","PeriodicalId":322460,"journal":{"name":"Journal of Financial Perspectives","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128181569","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: 198
Risk-On/Risk-Off, Capital Flows, Leverage and Safe Assets 风险开启/关闭，资本流动，杠杆和安全资产
Journal of Financial Perspectives Pub Date : 2012-07-01 DOI: 10.2139/ssrn.2206758
Robert N. McCauley
{"title":"Risk-On/Risk-Off, Capital Flows, Leverage and Safe Assets","authors":"Robert N. McCauley","doi":"10.2139/ssrn.2206758","DOIUrl":"https://doi.org/10.2139/ssrn.2206758","url":null,"abstract":"This paper describes the international flow of funds associated with calm and volatile global equity markets. During calm periods, portfolio investment by real money and leveraged investors in advanced countries flows into emerging markets. When central banks in the receiving countries resist exchange rate appreciation and buy dollars against domestic currency, they end up investing in medium-term bonds in reserve currencies. In the process they fund themselves (or “sterilize” the expansion of local bank reserves) by issuing safe assets in domestic currency to domestic investors. Thus, calm periods, marked by leveraged investing in emerging markets, lead to an asymmetric asset swap (risky emerging market assets against safe reserve currency assets) and leveraging up by emerging market central banks. In declining and volatile global equity markets, these flows reverse, and, contrary to some claims, emerging market central banks draw down reserves substantially. In effect, emerging market central banks then release safe assets from their reserves, supplying safe havens to global investors.","PeriodicalId":322460,"journal":{"name":"Journal of Financial Perspectives","volume":"74 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133280101","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: 48
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：481959085
Book学术官方微信