The evolution of Asian financial linkages :: key determinants and the role of policy /
"This paper examines how Asian financial linkages with systemic economies have changed over time. After developing a factor model, it estimates Asian financial sensitivities to systemic economies, and then seeks to uncover their key determinants, which include trade and financial linkages, as w...
Gespeichert in:
| Hauptverfasser: | , , |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C. :
International Monetary Fund, Asia and Pacific Dept.,
2012.
|
| Schriftenreihe: | IMF working paper ;
WP/12/262. |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | "This paper examines how Asian financial linkages with systemic economies have changed over time. After developing a factor model, it estimates Asian financial sensitivities to systemic economies, and then seeks to uncover their key determinants, which include trade and financial linkages, as well as policies. In line with Asia's growing role in the global economy - including through deeper financial integration - regional financial markets have become more sensitive to systemic economies. Asian financial sensitivities to systemic economies exhibit cyclical fluctuations, and reached historically high levels during the latest global financial crisis of 2008-09. While macroeconomic policy frameworks have helped Asian economies cope well with market turbulence, they cannot completely insulate Asian financial markets against major global financial shocks."--Abstract |
| Beschreibung: | "November 2012." |
| Beschreibung: | 1 online resource (27 pages) |
| Bibliographie: | Includes bibliographical references. |
| ISBN: | 9781475569537 147556953X 1475583966 9781475583960 1475580002 9781475580006 1283866854 9781283866859 |
| ISSN: | 2227-8885 ; |
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| 245 | 1 | 4 | |a The evolution of Asian financial linkages : |b key determinants and the role of policy / |c prepared by Selim Elekdag, Phurichai Rungcharoenkitkul, and Yiqun Wu. |
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| 500 | |a "November 2012." | ||
| 520 | |a "This paper examines how Asian financial linkages with systemic economies have changed over time. After developing a factor model, it estimates Asian financial sensitivities to systemic economies, and then seeks to uncover their key determinants, which include trade and financial linkages, as well as policies. In line with Asia's growing role in the global economy - including through deeper financial integration - regional financial markets have become more sensitive to systemic economies. Asian financial sensitivities to systemic economies exhibit cyclical fluctuations, and reached historically high levels during the latest global financial crisis of 2008-09. While macroeconomic policy frameworks have helped Asian economies cope well with market turbulence, they cannot completely insulate Asian financial markets against major global financial shocks."--Abstract | ||
| 505 | 0 | |a Cover; Contents; I. Introduction; Figures; 1. Equity Returns: Selected Systemic Economies and Asia; II. Model and Estimation Framework; A. Approach I: Focusing on Cross-Sectional Variation; B. Approach II: A Deeper Investigation of Time Series Fluctuations; III. Results; Tables; 1. Pure and CAPM; 1. Non-Zero Expected Risk Premium; 2. Heterogeneous Expected Premium (Fixed Effects); 2. Asian Financial Betas and Global Financial Shocks; 3. Financial Betas across Asian Economies; 4. Contributions to Differences in Betas between 2008-2011 and 2002-2007. | |
| 505 | 8 | |a 5. Contributions to Differences in Betas between 1997-2001 and 2002-20074. Determinants of Asian Financial Betas; 6. The Decomposition of Financial Betas across Asia over Time; 5. Nonlinear Effects of Reserves; IV. Conclusion; Appendix Table: Estimated Factor Loadings (Betas) Over the Full Sample; References. | |
| 504 | |a Includes bibliographical references. | ||
| 546 | |a English. | ||
| 650 | 0 | |a Capital market |z Asia |x Econometric models. | |
| 650 | 0 | |a Business cycles |z Asia |x Econometric models. | |
| 650 | 0 | |a Capital assets pricing model. |0 http://id.loc.gov/authorities/subjects/sh85019932 | |
| 650 | 6 | |a Marché financier |z Asie |x Modèles économétriques. | |
| 650 | 6 | |a Cycles économiques |z Asie |x Modèles économétriques. | |
| 650 | 6 | |a Modèle d'évaluation des actifs financiers. | |
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| 651 | 7 | |a Asia |2 fast |1 https://id.oclc.org/worldcat/entity/E39PBJxMpyjKQ9Jtm3jkjPBgKd | |
| 700 | 1 | |a Rungcharoenkitkul, Phurichai, |d 1977- |e author. |1 https://id.oclc.org/worldcat/entity/E39PCjCCHFbtyykMWmmxfPbmVC |0 http://id.loc.gov/authorities/names/nr2007000247 | |
| 700 | 1 | |a Wu, Yiqun, |e author. |0 http://id.loc.gov/authorities/names/n81130939 | |
| 710 | 2 | |a International Monetary Fund. |b Asia and Pacific Department, |e issuing body. |0 http://id.loc.gov/authorities/names/no97006778 | |
| 776 | 0 | 8 | |i Print version: |a Elekdag, Selim. |t Evolution of Asian Financial Linkages: Key Determinants and the Role of Policy. |d Washington : International Monetary Fund, ©2012 |z 9781475588682 |
| 830 | 0 | |a IMF working paper ; |v WP/12/262. |0 http://id.loc.gov/authorities/names/no89010263 | |
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| adam_text | |
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| author | Elekdag, Selim Rungcharoenkitkul, Phurichai, 1977- Wu, Yiqun |
| author_GND | http://id.loc.gov/authorities/names/no2004039673 http://id.loc.gov/authorities/names/nr2007000247 http://id.loc.gov/authorities/names/n81130939 |
| author_facet | Elekdag, Selim Rungcharoenkitkul, Phurichai, 1977- Wu, Yiqun |
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| contents | Cover; Contents; I. Introduction; Figures; 1. Equity Returns: Selected Systemic Economies and Asia; II. Model and Estimation Framework; A. Approach I: Focusing on Cross-Sectional Variation; B. Approach II: A Deeper Investigation of Time Series Fluctuations; III. Results; Tables; 1. Pure and CAPM; 1. Non-Zero Expected Risk Premium; 2. Heterogeneous Expected Premium (Fixed Effects); 2. Asian Financial Betas and Global Financial Shocks; 3. Financial Betas across Asian Economies; 4. Contributions to Differences in Betas between 2008-2011 and 2002-2007. 5. Contributions to Differences in Betas between 1997-2001 and 2002-20074. Determinants of Asian Financial Betas; 6. The Decomposition of Financial Betas across Asia over Time; 5. Nonlinear Effects of Reserves; IV. Conclusion; Appendix Table: Estimated Factor Loadings (Betas) Over the Full Sample; References. |
| ctrlnum | (OCoLC)816246451 |
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| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.67/3095 |
| dewey-search | 332.67/3095 |
| dewey-sort | 3332.67 43095 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| format | Electronic eBook |
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After developing a factor model, it estimates Asian financial sensitivities to systemic economies, and then seeks to uncover their key determinants, which include trade and financial linkages, as well as policies. In line with Asia's growing role in the global economy - including through deeper financial integration - regional financial markets have become more sensitive to systemic economies. Asian financial sensitivities to systemic economies exhibit cyclical fluctuations, and reached historically high levels during the latest global financial crisis of 2008-09. While macroeconomic policy frameworks have helped Asian economies cope well with market turbulence, they cannot completely insulate Asian financial markets against major global financial shocks."--Abstract</subfield></datafield><datafield tag="505" ind1="0" ind2=" "><subfield code="a">Cover; Contents; I. Introduction; Figures; 1. Equity Returns: Selected Systemic Economies and Asia; II. Model and Estimation Framework; A. Approach I: Focusing on Cross-Sectional Variation; B. Approach II: A Deeper Investigation of Time Series Fluctuations; III. Results; Tables; 1. Pure and CAPM; 1. Non-Zero Expected Risk Premium; 2. Heterogeneous Expected Premium (Fixed Effects); 2. Asian Financial Betas and Global Financial Shocks; 3. Financial Betas across Asian Economies; 4. Contributions to Differences in Betas between 2008-2011 and 2002-2007.</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">5. Contributions to Differences in Betas between 1997-2001 and 2002-20074. Determinants of Asian Financial Betas; 6. The Decomposition of Financial Betas across Asia over Time; 5. Nonlinear Effects of Reserves; IV. 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| geographic | Asia fast https://id.oclc.org/worldcat/entity/E39PBJxMpyjKQ9Jtm3jkjPBgKd |
| geographic_facet | Asia |
| id | ZDB-4-EBU-ocn816246451 |
| illustrated | Not Illustrated |
| indexdate | 2024-11-26T14:49:07Z |
| institution | BVB |
| institution_GND | http://id.loc.gov/authorities/names/no97006778 |
| isbn | 9781475569537 147556953X 1475583966 9781475583960 1475580002 9781475580006 1283866854 9781283866859 |
| issn | 2227-8885 ; |
| language | English |
| oclc_num | 816246451 |
| open_access_boolean | |
| owner | MAIN DE-863 DE-BY-FWS |
| owner_facet | MAIN DE-863 DE-BY-FWS |
| physical | 1 online resource (27 pages) |
| psigel | ZDB-4-EBU |
| publishDate | 2012 |
| publishDateSearch | 2012 |
| publishDateSort | 2012 |
| publisher | International Monetary Fund, Asia and Pacific Dept., |
| record_format | marc |
| series | IMF working paper ; |
| series2 | IMF working paper, |
| spelling | Elekdag, Selim, author. http://id.loc.gov/authorities/names/no2004039673 The evolution of Asian financial linkages : key determinants and the role of policy / prepared by Selim Elekdag, Phurichai Rungcharoenkitkul, and Yiqun Wu. Washington, D.C. : International Monetary Fund, Asia and Pacific Dept., 2012. 1 online resource (27 pages) text txt rdacontent computer c rdamedia online resource cr rdacarrier polychrome. rdacc http://rdaregistry.info/termList/RDAColourContent/1003 data file IMF working paper, 2227-8885 ; WP/12/262 "November 2012." "This paper examines how Asian financial linkages with systemic economies have changed over time. After developing a factor model, it estimates Asian financial sensitivities to systemic economies, and then seeks to uncover their key determinants, which include trade and financial linkages, as well as policies. In line with Asia's growing role in the global economy - including through deeper financial integration - regional financial markets have become more sensitive to systemic economies. Asian financial sensitivities to systemic economies exhibit cyclical fluctuations, and reached historically high levels during the latest global financial crisis of 2008-09. While macroeconomic policy frameworks have helped Asian economies cope well with market turbulence, they cannot completely insulate Asian financial markets against major global financial shocks."--Abstract Cover; Contents; I. Introduction; Figures; 1. Equity Returns: Selected Systemic Economies and Asia; II. Model and Estimation Framework; A. Approach I: Focusing on Cross-Sectional Variation; B. Approach II: A Deeper Investigation of Time Series Fluctuations; III. Results; Tables; 1. Pure and CAPM; 1. Non-Zero Expected Risk Premium; 2. Heterogeneous Expected Premium (Fixed Effects); 2. Asian Financial Betas and Global Financial Shocks; 3. Financial Betas across Asian Economies; 4. Contributions to Differences in Betas between 2008-2011 and 2002-2007. 5. Contributions to Differences in Betas between 1997-2001 and 2002-20074. Determinants of Asian Financial Betas; 6. The Decomposition of Financial Betas across Asia over Time; 5. Nonlinear Effects of Reserves; IV. Conclusion; Appendix Table: Estimated Factor Loadings (Betas) Over the Full Sample; References. Includes bibliographical references. English. Capital market Asia Econometric models. Business cycles Asia Econometric models. Capital assets pricing model. http://id.loc.gov/authorities/subjects/sh85019932 Marché financier Asie Modèles économétriques. Cycles économiques Asie Modèles économétriques. Modèle d'évaluation des actifs financiers. BUSINESS & ECONOMICS Investments & Securities General. bisacsh Business cycles Econometric models fast Capital assets pricing model fast Capital market Econometric models fast Asia fast https://id.oclc.org/worldcat/entity/E39PBJxMpyjKQ9Jtm3jkjPBgKd Rungcharoenkitkul, Phurichai, 1977- author. https://id.oclc.org/worldcat/entity/E39PCjCCHFbtyykMWmmxfPbmVC http://id.loc.gov/authorities/names/nr2007000247 Wu, Yiqun, author. http://id.loc.gov/authorities/names/n81130939 International Monetary Fund. Asia and Pacific Department, issuing body. http://id.loc.gov/authorities/names/no97006778 Print version: Elekdag, Selim. Evolution of Asian Financial Linkages: Key Determinants and the Role of Policy. Washington : International Monetary Fund, ©2012 9781475588682 IMF working paper ; WP/12/262. http://id.loc.gov/authorities/names/no89010263 FWS01 ZDB-4-EBU FWS_PDA_EBU https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=516447 Volltext |
| spellingShingle | Elekdag, Selim Rungcharoenkitkul, Phurichai, 1977- Wu, Yiqun The evolution of Asian financial linkages : key determinants and the role of policy / IMF working paper ; Cover; Contents; I. Introduction; Figures; 1. Equity Returns: Selected Systemic Economies and Asia; II. Model and Estimation Framework; A. Approach I: Focusing on Cross-Sectional Variation; B. Approach II: A Deeper Investigation of Time Series Fluctuations; III. Results; Tables; 1. Pure and CAPM; 1. Non-Zero Expected Risk Premium; 2. Heterogeneous Expected Premium (Fixed Effects); 2. Asian Financial Betas and Global Financial Shocks; 3. Financial Betas across Asian Economies; 4. Contributions to Differences in Betas between 2008-2011 and 2002-2007. 5. Contributions to Differences in Betas between 1997-2001 and 2002-20074. Determinants of Asian Financial Betas; 6. The Decomposition of Financial Betas across Asia over Time; 5. Nonlinear Effects of Reserves; IV. Conclusion; Appendix Table: Estimated Factor Loadings (Betas) Over the Full Sample; References. Capital market Asia Econometric models. Business cycles Asia Econometric models. Capital assets pricing model. http://id.loc.gov/authorities/subjects/sh85019932 Marché financier Asie Modèles économétriques. Cycles économiques Asie Modèles économétriques. Modèle d'évaluation des actifs financiers. BUSINESS & ECONOMICS Investments & Securities General. bisacsh Business cycles Econometric models fast Capital assets pricing model fast Capital market Econometric models fast |
| subject_GND | http://id.loc.gov/authorities/subjects/sh85019932 |
| title | The evolution of Asian financial linkages : key determinants and the role of policy / |
| title_auth | The evolution of Asian financial linkages : key determinants and the role of policy / |
| title_exact_search | The evolution of Asian financial linkages : key determinants and the role of policy / |
| title_full | The evolution of Asian financial linkages : key determinants and the role of policy / prepared by Selim Elekdag, Phurichai Rungcharoenkitkul, and Yiqun Wu. |
| title_fullStr | The evolution of Asian financial linkages : key determinants and the role of policy / prepared by Selim Elekdag, Phurichai Rungcharoenkitkul, and Yiqun Wu. |
| title_full_unstemmed | The evolution of Asian financial linkages : key determinants and the role of policy / prepared by Selim Elekdag, Phurichai Rungcharoenkitkul, and Yiqun Wu. |
| title_short | The evolution of Asian financial linkages : |
| title_sort | evolution of asian financial linkages key determinants and the role of policy |
| title_sub | key determinants and the role of policy / |
| topic | Capital market Asia Econometric models. Business cycles Asia Econometric models. Capital assets pricing model. http://id.loc.gov/authorities/subjects/sh85019932 Marché financier Asie Modèles économétriques. Cycles économiques Asie Modèles économétriques. Modèle d'évaluation des actifs financiers. BUSINESS & ECONOMICS Investments & Securities General. bisacsh Business cycles Econometric models fast Capital assets pricing model fast Capital market Econometric models fast |
| topic_facet | Capital market Asia Econometric models. Business cycles Asia Econometric models. Capital assets pricing model. Marché financier Asie Modèles économétriques. Cycles économiques Asie Modèles économétriques. Modèle d'évaluation des actifs financiers. BUSINESS & ECONOMICS Investments & Securities General. Business cycles Econometric models Capital assets pricing model Capital market Econometric models Asia |
| url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=516447 |
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