Foreign Investors Under Stress
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Foreign Investors Under Stress
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Author : Ila Patnaik
language : en
Publisher: International Monetary Fund
Release Date : 2013-05-22
Foreign Investors Under Stress written by Ila Patnaik 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 2013-05-22 with Business & Economics categories.
Emerging market policy makers have been concerned about the financial stability implications of financial globalization. These concerns are focused on behavior under stressed conditions. Do tail events in the home country trigger off extreme responses by foreign investors – are foreign investors `fair weather friends'? In this, is there asymmetry between the response of foreign investors to very good versus very bad days? Do foreign investors have a major impact on domestic markets through large inflows or outflows – are they ‘big fish in a small pond’? Do extreme events in world markets induce extreme behavior by foreign investors, thus making them vectors of crisis transmission? We propose a modified event study methodology focused on tail events, which yields evidence on these questions. The results, for India, do not suggest that financial globalization has induced instability on the equity market.
Domestic And Foreign Mutual Funds In Mexico Do They Behave Differently
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Author : Jasmine Xiao
language : en
Publisher: International Monetary Fund
Release Date : 2015-05-13
Domestic And Foreign Mutual Funds In Mexico Do They Behave Differently written by Jasmine Xiao 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 2015-05-13 with Business & Economics categories.
This paper utilizes a new dataset of foreign and domestic mutual funds in Mexico to assess their behavior and obtains three new findings. First, foreign mutual funds are more sensitive to global financial conditions and engage more in herding and positive feedback trading than domestic mutual funds, notably during episodes of market stress. Second, the behavior of foreign funds differs substantially across types of funds: bond funds are more sensitive to global factors and engage more in positive feedback trading than equity funds; funds sold to retail investors, open-end funds, small funds, and regional funds also appear to be less stable sources of capital flows. Third, there is indicative evidence that foreign funds’ trading behavior is associated with higher local market volatilities, notably in periods of market stress; however, domestic mutual fund investors played some mitigating role.
Joint Ventures In The People S Republic Of China
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Author : Margaret M. Pearson
language : en
Publisher: Princeton University Press
Release Date : 1992-09-21
Joint Ventures In The People S Republic Of China written by Margaret M. Pearson and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992-09-21 with History categories.
When Chinese leaders announced in late 1978 that China would "open to the outside world," they embarked on a strategy for attracting private foreign capital to spur economic development. At the same time, they were concerned about possible negative repercussions of this policy. Margaret Pearson examines government efforts to control the terms of foreign investment between 1979 and 1988 and, more broadly, the abilities of socialist states in general to establish the terms of their own participation in the world economy. Drawing on interviews with Chinese and foreigners involved in joint ventures, Pearson focuses on the years from 1979 through 1988, but she also comments on the fate of the "open" policy following the economic retrenchment and political upheavals of the late 1980s. "Since the policy of `opening' was launched in Beijing in 1979 some Chinese leaders have favoured foreign investment, while others have feared that it would carry ideas and institutions that would corrupt Chinese socialism. This study of Chinese policies toward foreign-invested enterprises (FIFs) during the 1980s broadly charts significant changes in the impact of these competing views on policy. . . . Pearson's overview and analysis provide thought-provoking perspectives. . . . Pearson furnishes excellent evidence that throughout the 1980s the pressure for reform was so great that the conservatives had to retreat repeatedly, despite their concerns about the decline of collectivist values and the Maoist dream."--Stanley Lubman, The China Quarterly
Making Foreign Investment Safe
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Author : Louis T. Wells
language : en
Publisher: Oxford University Press
Release Date : 2006-12-21
Making Foreign Investment Safe written by Louis T. Wells and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-12-21 with Business & Economics categories.
With real case stories, Wells and Ahmed bring to life both the hopes for and the failures of international guarantees of property rights for investors in the developing world. Their cases focus on infrastructure projects, but the lessons apply equally to many other investments. In the 1990's inexperienced firms from rich countries jumped directly into huge projects in some of the world's least developed countries. Their investments reflected almost unbridled enthusiasm for emerging markets and trust in new international guarantees. Yet within a few years the business pages of the world press were reporting an exploding number of serious disputes between foreign investors and governments. As the expected bonanzas proved elusive and the protections weaker than anticipated, many foreign investors became disenchanted with emerging markets. So bad were the outcomes in some cases that a few notable infrastructure firms came close to bankruptcy; several others hurriedly fled poor countries as projects soured. In this book, Louis Wells and Rafiq Ahmed show why disputes developed, point out how investments and disputes have changed over time, explore why various firms responded differently to crises, and question the basic wisdom of some of the enthusiasm for privatization. The authors tell how firms, countries, and multilateral development organizations can build a conflict-management system that balances the legitimate economic and social concerns of the host countries and those of investors. Without these changes, multinational corporations will lose profitable opportunities and poor countries will not gain the contributions that foreign investment can make toward alleviating poverty.
People S Republic Of China Hong Kong Special Administrative Region Financial Sector Assessment Program Technical Note Investment Funds Sector Liquidity Stress Testing
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2021-06-15
People S Republic Of China Hong Kong Special Administrative Region Financial Sector Assessment Program Technical Note Investment Funds Sector Liquidity Stress Testing written by International Monetary 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 2021-06-15 with Business & Economics categories.
The Hong Kong Special Administrative Regime (HKSAR) is home to a fast-growing and highly international investment fund industry. The public investment fund industry authorized in HKSAR has grown rapidly from US$628 billion in 2008 to US$1.6 trillion in net asset value (NAV) in 2020. The locally domiciled sector grew from US$121 billion in early 2015 to almost US$155 billion in 2020. Open-end funds authorized for sale in HKSAR are substantially invested in foreign assets and significantly invested in by non-HKSAR residents and are therefore reactive to international liquidity and price conditions. Locally domiciled funds invest their portfolios in both local and overseas assets markets, while they are overwhelmingly funded by HKSAR investors.
The Financial System Under Stress
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Author : Marc Uzan
language : en
Publisher: Routledge
Release Date : 2003-09-02
The Financial System Under Stress written by Marc Uzan and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-09-02 with Business & Economics categories.
The collapse of Barings bank and the currency crisis in Mexico are just two instances of stress in an international financial system still largely governed by the institutions established by the Bretton Woods Committee in 1944. Here, the authors put forward an agenda for a new system of international economic institutions to fit the changes in international relations. This agenda includes: * an analysis of the role of the Bretton Woods institutions and their relations with the newly created World Trade Organizations * a discussion of the search for world economic governance * an analysis of the crisis within EMS and the prospects for European Monetary Integration * an examination of the integration of private markets in the new economic architecture.
Foreign Investment And Investment Arbitration In Asia
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Author : Mahdev Mohan
language : en
Publisher:
Release Date : 2019
Foreign Investment And Investment Arbitration In Asia written by Mahdev Mohan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with Commercial treaties categories.
This book brings together foreign investment and investment arbitration in Asia, the fastest growing economic region in the world. It provides a critical analysis of foreign investment, its benefits and the legal regimes of the jurisdictions studied at a time when investor-state disputes are on the rise and investment arbitration is under growing scrutiny. Governments are under greater pressure to balance the promotion of investment with public policy development and interests and calls for a permanent court for investment arbitration are getting louder.To assess future possibilities, this book takes stock of, brings together and analyses the legal regimes on foreign investment in 12 major Asian jurisdictions, namely China, Hong-Kong, India, Indonesia, Japan, South Korea, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. These constitute paradigmatic examples of what is happening in the legal framework of Asian foreign investment and the impact that the current system of investment arbitration has in all of them. The analysis shows the existence of changing positions and degrees of openness towards foreign investment in the region, as well as a distinct level of exposure to and involvement in investment arbitration.Predictably, their situation will change in the near future, at least in relation to investment arbitration. Proposals for reform have already been made and international institutions are working on the development of an alternative to the proceedings of investment arbitration as it is currently constructed and understood. Consequently, the last two chapters of this book are devoted to the analysis of these developments that will most probably affect the existing situation in the region.
Stress Testing Corporate Balance Sheets In Emerging Economies
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Author : Mr.Julian T. S. Chow
language : en
Publisher: International Monetary Fund
Release Date : 2015-09-30
Stress Testing Corporate Balance Sheets In Emerging Economies written by Mr.Julian T. S. Chow 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 2015-09-30 with Business & Economics categories.
In recent years, firms in emerging market countries have increased borrowing, particularly in foreign currency, owing to easy access to global capital markets, prolonged low interest rates and good investment opportunities. This paper discusses the trends in emerging market corporate debt and leverage, and illustrates how those firms are vulnerable to interest rate, exchange rate and earnings shocks. The results of a stress test show that while corporate sector risk remains moderate in most emerging economies, a combination of macroeconomic and financial shocks could significantly erode firms’ ability to service debt and lead to higher debt at risk, especially in countries with high shares of foreign currency debt and low natural hedges.
The Competitive Advantage Of Regions And Nations
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Author : Boris Ricken
language : en
Publisher: CRC Press
Release Date : 2016-03-23
The Competitive Advantage Of Regions And Nations written by Boris Ricken and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-03-23 with Business & Economics categories.
The importance of technology transfer for the competitive advantage of companies and the economic success of nations cannot be overstated. Technology is a determining element for firms and nations to increase productivity, to compete, and to prosper. In The Competitive Advantage of Regions and Nations, the authors stress that companies, investment promotion agencies, and government bodies cannot simply sit and wait until new technologies arrive in their domain. Rather, they need to manage the identification, assessment, attraction, absorption and application of new technologies. In this comprehensive book, Boris Ricken and George Malcotsis explain how technology transfer in Foreign Direct Investment (FDI) projects can be systematically managed. Using some 40 case studies as illustration, they give step-by-step guidance for managers. The explanation of theory in this book, together with the frameworks and cases delivering solutions to the various challenges of technology transfer will be highly appreciated by managers of companies, investment promotion agencies, and government bodies alike. It also offers students confronted with the topic an understandable study guide.
The International Economy Under Stress
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Author : Norman S. Fieleke
language : en
Publisher:
Release Date : 1988
The International Economy Under Stress written by Norman S. Fieleke and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988 with Business & Economics categories.