000293244 001__ 293244
000293244 005__ 20180128220310.0
000293244 037__ $$aBOOK
000293244 245__ $$aThe second wave of global liquidity: why are firms acting like financial intermediaries?
000293244 260__ $$aLondon$$bCentre for Economic Policy Research (CEPR)$$c2015
000293244 269__ $$a2015
000293244 300__ $$a39 p.
000293244 336__ $$aPapers and Reports
000293244 490__ $$aCEPR discussion papers ; no. 10926
000293244 520__ $$aRecent work suggests that non‐financial firms have acted like financial intermediaries particularly in emerging economies. We corroborate these findings but then ask why? Our results indicate evidence for carry‐trade activities but focused in countries with higher levels of capital controls, particular controls on inflows. We find little evidence for such activities given other potential motives. We posit that this phenomenon is due more to the reaction to low global interest rates and strong capital inflows than to incomplete markets or the retreat of global banks due to impaired balance‐sheets or tighter regulations.
000293244 700__ $$aCaballero, Julian
000293244 700__ $$aPanizza, Ugo
000293244 700__ $$aPowell, Andrew
000293244 8560_ $$flinda.leger@graduateinstitute.ch
000293244 8564_ $$uhttp://repository.graduateinstitute.ch/record/293244/files/CEPR-DP10926_Panizza.pdf
000293244 8564_ $$uhttp://repository.graduateinstitute.ch/record/293244/files/CEPR-DP10926_Panizza.gif?subformat=icon$$xicon
000293244 8564_ $$uhttp://repository.graduateinstitute.ch/record/293244/files/CEPR-DP10926_Panizza.gif?subformat=icon-700$$xicon-700
000293244 8564_ $$uhttp://repository.graduateinstitute.ch/record/293244/files/CEPR-DP10926_Panizza.pdf?subformat=pdfa$$xpdfa
000293244 909CO $$ooai:repository.graduateinstitute.ch:293244$$pIHEID:Infonet$$pIHEID:Infonet_IE_2
000293244 937__ $$aWP-2015-129
000293244 980__ $$aINFONET
000293244 980__ $$aWP