Series: IMF Working Papers
Author(s): Eugenio Cerutti , Stijn Claessens , and Andrew Rose
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 September 2017
Keywords: Capital flows, Globalization, Monetary policy, Financial cycles, Panel analysis, Cross-country analysis, Capital market volatility, empirical; data; center; country; panel; fit; VIX; equity; bonds; FDI; credit, empirical, data
This study quantifies the importance of a Global Financial Cycle (GFCy) for capital flows. We use capital flow data dis-aggregated by direction and type between 1990Q1 and 2015Q5 for 85 countries, and conventional...