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논문 기본 정보
- 자료유형
- 학술저널
- 저자정보
- 발행연도
- 2017.4
- 수록면
- 93 - 110 (18page)
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This study investigates the role of global market volatility (VIX) on monthly bond and equity fund flows into emerging market economies during 2005-2015. We find that the effect of interest rate spread on the fund flow depends on the level of global market volatility. In particular, the spread is positively associated with net fund flow when the volatility is high, but negatively associated when the volatility is low. This switching effect shows that an ordinary monetary policy instrument (i.e., interest rate) alone may not be a sufficient tool in mitigating rapid capital flows.
목차
1. INTRODUCTION
2. DATA AND EMPIRICAL METHODOLOGY
3. EMPIRICAL RESULTS
4. CONCLUDING REMARKS
REFERENCES
참고문헌 (14)
참고문헌 신청
[학술지(정기간행물)] - Barberis, Nicholas C. / 2003 / Style Investing / Journal of Financial Economics 68 : 161 ~ 199
[학술지(정기간행물)] - De Santis, Roberto A. / 2009 / On the Determinants of Net International Portfolio Flows: A Global Perspective / Journal of International Money and Finance 28 (5) : 880 ~ 901
[학술지(정기간행물)] - Fernandez-Arias, Eduardo / 1996 / The New Wave of Private Capital Inflows: Push or Pull? / Journal of Development Economics 48 : 389 ~ 418
[학술지(정기간행물)] - Forbes, Kristin J. / 2012 / Capital Flow Waves: Surges, Stops Flight, and Retrenchment / Journal of International Economics 88 : 235 ~ 251
[학술지(정기간행물)] - Fratzscher, Marcel / 2012 / Capital Flows, Push versus Pull Factors and the Global Financial Crisis / Journal of International Economics 88 : 341 ~ 356
[학술지(정기간행물)] - De Santis, Roberto A. / 2009 / On the Determinants of Net International Portfolio Flows: A Global Perspective / Journal of International Money and Finance 28 (5) : 880 ~ 901
[학술지(정기간행물)] - Fernandez-Arias, Eduardo / 1996 / The New Wave of Private Capital Inflows: Push or Pull? / Journal of Development Economics 48 : 389 ~ 418
[학술지(정기간행물)] - Forbes, Kristin J. / 2012 / Capital Flow Waves: Surges, Stops Flight, and Retrenchment / Journal of International Economics 88 : 235 ~ 251
[학술지(정기간행물)] - Fratzscher, Marcel / 2012 / Capital Flows, Push versus Pull Factors and the Global Financial Crisis / Journal of International Economics 88 : 341 ~ 356
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UCI(KEPA) : I410-ECN-0101-2018-320-000829930