Country Fund Discounts Asymmetric Information And The Mexican Crisis Of 1994
DOWNLOAD
Download Country Fund Discounts Asymmetric Information And The Mexican Crisis Of 1994 PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Country Fund Discounts Asymmetric Information And The Mexican Crisis Of 1994 book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Country Fund Discounts Asymmetric Information And The Mexican Crisis Of 1994
DOWNLOAD
Author : Jeffrey A. Frankel
language : en
Publisher:
Release Date : 2010
Country Fund Discounts Asymmetric Information And The Mexican Crisis Of 1994 written by Jeffrey A. Frankel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
It has been suggested that Mexican investors were the front-runners in the peso crisis of December 1994, turning pessimistic before international investors. Different expectations about their own economy, perhaps due to asymmetric information, prompted Mexican investors to be the first ones to leave the country. This paper uses data from three Mexican country funds to investigate the hypothesis of divergent expectations. We find that, right before the devaluation, Mexican fund Net Asset Values (mainly driven by Mexican investors) dropped faster than Mexican country fund prices (mainly driven by foreign investors). Moreover, we find that Mexican NAVs tend to Granger-cause the country fund prices. This suggests that causality, in some sense, flows from the Mexico City investor community to the Wall Street investor community. More generally, the paper proposes an asymmetric information approach that differs from the existing explanations of country fund discounts.
Country Fund Discount Asymmetric Information And The Mexican Crisis Of 1994
DOWNLOAD
Author : Jeffrey A. Frankel
language : es
Publisher:
Release Date : 1996
Country Fund Discount Asymmetric Information And The Mexican Crisis Of 1994 written by Jeffrey A. Frankel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with categories.
Country Fund Discounts Asymmetric Information And The Mexican Crises Of 1994 Did Local Residents Turn Pessimistic Before International Investors
DOWNLOAD
Author : Jeffrey A. Frankel
language : en
Publisher:
Release Date : 1996
Country Fund Discounts Asymmetric Information And The Mexican Crises Of 1994 Did Local Residents Turn Pessimistic Before International Investors written by Jeffrey A. Frankel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with categories.
Country Fund Discounts And The Mexican Crisis Of December 1994
DOWNLOAD
Author : Jeffrey A. Frankel
language : en
Publisher:
Release Date : 1996
Country Fund Discounts And The Mexican Crisis Of December 1994 written by Jeffrey A. Frankel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Capital movements categories.
Country Fund Discounts Asymmetric Information And The Mexican Crisis Of 1994
DOWNLOAD
Author : Jeffrey A. Frankel
language : en
Publisher:
Release Date : 1996
Country Fund Discounts Asymmetric Information And The Mexican Crisis Of 1994 written by Jeffrey A. Frankel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Country funds categories.
It has been suggested that Mexican investors were the front-runners in the peso crisis of December 1994, turning pessimistic before international investors. Different expectations about their own economy, perhaps due to asymmetric information, prompted Mexican investors to be the first ones to leave the country. This paper uses data from three Mexican country funds to investigate the hypothesis of divergent expectations. We find that, right before the devaluation, Mexican fund Net Asset Values (mainly driven by Mexican investors) dropped faster than Mexican country fund prices (mainly driven by foreign investors). Moreover, we find that Mexican NAVs tend to Granger-cause the country fund prices. This suggests that causality, in some sense, flows from the Mexico City investor community to the Wall Street investor community. More generally, the paper proposes an asymmetric information approach that differs from the existing explanations of country fund discounts.
Country Funds And Asymmetric Information
DOWNLOAD
Author :
language : en
Publisher: World Bank Publications
Release Date :
Country Funds And Asymmetric Information written by and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
Imf Staff Papers Volume 47 No 1
DOWNLOAD
Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2000-01-01
Imf Staff Papers Volume 47 No 1 written by International Monetary Fund. Research Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-01-01 with Business & Economics categories.
This paper discusses the origins of the pyramid schemes and the way the authorities handled them. The paper analyzes the economic effects of the pyramid schemes, concluding that despite the descent into anarchy triggered by the schemes’ collapse, their direct effects on the economy are difficult to specify and appear to have been limited. The paper also argues that prevention of pyramid schemes is better than cure and that government and international financial institutions should be vigilant in clamping down on frauds.
Country Funds And Asymmetric Information
DOWNLOAD
Author : Jeffrey A. Frankel
language : en
Publisher:
Release Date : 1998
Country Funds And Asymmetric Information written by Jeffrey A. Frankel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Country funds categories.
Essays On Country Funds Asymmetric Information And Contagion In International Capital Markets
DOWNLOAD
Author : Sertio Luis Schmukler
language : en
Publisher:
Release Date : 1997
Essays On Country Funds Asymmetric Information And Contagion In International Capital Markets written by Sertio Luis Schmukler and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with categories.
Crises Contagion And The Closed
DOWNLOAD
Author : Mr.Angel J. Ubide
language : en
Publisher: International Monetary Fund
Release Date : 1998-09-01
Crises Contagion And The Closed written by Mr.Angel J. Ubide and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-09-01 with Business & Economics categories.
This paper analyzes the behavior of closed-end country fund discounts, including evidence from the Mexican and East Asian crises. We find that the ratio of fund prices to their fundamental value increases dramatically during a crisis, an anomaly that we denote the “closed-end country fund puzzle.” Our results show that the puzzle relates directly to the fact that international investors are less (more) sensitive to changes in local (global) market conditions than domestic investors. This asymmetry implies that foreign participation in local markets can both help dampen a crisis in the originating country, and amplify the contagion to noncrisis countries.