Data and Code for: “The Financial Center Leverage Cycle: Does it Spread around the World?”
Principal Investigator(s): View help for Principal Investigator(s) Graciela Kaminsky, George Washington University; Leandro Medina, International Monetary Fund; Shiyi Wang, George Washington University
Version: View help for Version V1
| Name | File Type | Size | Last Modified |
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| APPENDIX A | 05/17/2020 01:32:PM | ||
| APPENDIX B | 05/17/2020 01:32:PM | ||
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application/pdf | 124.2 KB | 05/17/2020 09:32:AM |
Project Citation:
Kaminsky, Graciela, Medina, Leandro, and Wang, Shiyi. Data and Code for: “The Financial Center Leverage Cycle: Does it Spread around the World?” Nashville, TN: American Economic Association [publisher], 2020. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2020-07-27. https://doi.org/10.3886/E119502V1
Project Description
Summary:
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With a novel database, we examine the evolution of capital flows since
the collapse of the Bretton Woods System in the early 1970s. We decompose
capital flows into global, regional, and idiosyncratic factors. In contrast to
previous findings, which mostly use data from the 2000s, we find that booms and
busts in capital flows are mainly explained by regional factors and not the
global factor. We link leverage in the
financial center to regional capital flows and the cost of borrowing in
international capital markets to examine the drivers of capital flow bonanzas
and busts.
Funding Sources:
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National Science Foundation (1023681);
Institute for New Economic Thinking (INO14-00009))
Scope of Project
Subject Terms:
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International Borrowing Cycles;
Capital Flows Push and Pull Factors;
Global and Regional Factors;
Financial Center Leverage Cycles
JEL Classification:
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F30 International Finance: General
F34 International Lending and Debt Problems
F65 Economic Impacts of Globalization: Finance
F30 International Finance: General
F34 International Lending and Debt Problems
F65 Economic Impacts of Globalization: Finance
Geographic Coverage:
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Capital Flows to Asia, Europe, and Latin America
Time Period(s):
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1973 – 2017
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