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In the run up to the global crisis, countries in Central Eastern and Southeastern Europe attracted large capital inflows and some of them built up large external imbalances. This paper investigates whether these imbalances are linked to the sectoral composition of FDI. It shows that FDI in the tradable sectors leads to an improvement of the external balance. We also find that the countries with large market size, good infrastructure, greater trade integration, and educated labor force are more likely to receive more FDI in the tradable sectors.

Investments, Foreign --- Capital movements --- Capital flight --- Capital flows --- Capital inflow --- Capital outflow --- Flight of capital --- Flow of capital --- Movements of capital --- Balance of payments --- Foreign exchange --- International finance --- Exports and Imports --- International Investment --- Long-term Capital Movements --- Empirical Studies of Trade --- Economywide Country Studies: Europe --- Trade: General --- Finance --- International economics --- Foreign direct investment --- Trade balance --- Capital inflows --- Exports --- Capital controls --- International trade --- Balance of trade --- Slovak Republic

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The paper shows that Asia's degree of financial integration, both with the world and within the region remains low by various measures. The paper also provides empirical evidence that greater financial integration can support economic rebalancing in statistically meaningful ways. The implication is that in the debate on managing capital inflows the longer-term benefits of financial openness for broader-based growth should not be forgotten.

Business & Economics --- Economic History --- Capital movements --- Asia --- Economic integration. --- Foreign economic relations. --- Capital flight --- Capital flows --- Capital inflow --- Capital outflow --- Flight of capital --- Flow of capital --- Movements of capital --- Balance of payments --- Foreign exchange --- International finance --- Exports and Imports --- Finance: General --- Foreign Exchange --- Macroeconomics: Consumption, Saving, Production, Employment and Investment: Other --- Financial Markets and the Macroeconomy --- Financial Economics: General --- General Financial Markets: General (includes Measurement and Data) --- Current Account Adjustment --- Short-term Capital Movements --- International Investment --- Long-term Capital Movements --- Finance --- Currency --- Financial integration --- Portfolio investment --- Foreign direct investment --- Financial sector development --- Exchange rates --- Financial markets --- Portfolio management --- Investments, Foreign --- Financial services industry --- Hong Kong Special Administrative Region, People's Republic of China

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India embarked on reintegration with the world economy in the early 1990s. At first, a certain limited opening took place emphasising equity flows by certain kinds of foreign investors. This opening has had myriad interesting implications in terms of both microeconomics and macroeconomics. A dynamic process of change in the economy and in economic policy then came about, with a co-evolution between the system of capital controls, macroeconomic policy, and the internationalisation of firms including the emergence of Indian multinationals.Through this process, de facto openness has risen sharply. De facto openness has implied a loss of monetary policy autonomy when exchange rate pegging was attempted. The exchange rate regime has evolved towards greater flexibility.

Globalization --- Capital movements --- Monetary policy --- International business enterprises --- Capital flight --- Capital flows --- Capital inflow --- Capital outflow --- Flight of capital --- Flow of capital --- Movements of capital --- Balance of payments --- Foreign exchange --- International finance --- Economic aspects --- Exports and Imports --- Finance: General --- Foreign Exchange --- Economic Integration --- Multinational Firms --- International Business --- Current Account Adjustment --- Short-term Capital Movements --- Financial Aspects of Economic Integration --- International Financial Markets --- International Investment --- Long-term Capital Movements --- General Financial Markets: General (includes Measurement and Data) --- International economics --- Finance --- Currency --- Capital account --- Capital controls --- Foreign direct investment --- Exchange rate arrangements --- Stock markets --- Financial markets --- Investments, Foreign --- Stock exchanges --- India

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Curzio Giannini's history of the evolution of central banks illustrates how the most relevant institutional developments have taken place at times of widespread confidence crises and in response to deflationary pressures.

Private finance --- Banks and banking, Central. --- Banques centrales --- Banking. --- Banks and banking. --- Deflation. --- Banks and banking, Central --- Finance --- Business & Economics --- Banking --- History --- International finance --- Monetary policy --- Capital movements --- Foreign exchange --- Debts, External --- AA / International- internationaal --- 333.111.0 --- 332.11 --- Debts, Foreign --- Debts, International --- External debts --- Foreign debts --- International debts --- Debt --- Investments, Foreign --- Cambistry --- Currency exchange --- Exchange, Foreign --- Foreign currency --- Foreign exchange problem --- Foreign money --- Forex --- FX (Finance) --- International exchange --- Currency crises --- Capital flight --- Capital flows --- Capital inflow --- Capital outflow --- Flight of capital --- Flow of capital --- Movements of capital --- Balance of payments --- Monetary management --- Economic policy --- Currency boards --- Money supply --- International monetary system --- International money --- International economic relations --- Banker's banks --- Banks, Central --- Central banking --- Central banks --- Banks and banking --- Algemeenheden. Theoretische en beschrijvende studies. Centrale banken. --- Algemeenheden. Theoretische en beschrijvende studies. Centrale banken

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In this paper we explore the properties of the global banking network using cross-border bank lending data for 184 countries over 1978-2009. Specifically, we analyze financial interconnectedness using network metrics of centrality, connectivity, and clustering. We document a relatively unstable global banking network, with structural breaks in network indicators identifying several waves of capital flows. Interconnectedness rankings, especially for borrowers, are relatively volatile over the period. Connectivity tends to fall during and after systemic banking crises and sovereign debt crises. The 2008-09 global financial crisis stands out as an unusually large perturbation to the cross-border banking network.

Banks and banking, International --- Capital movements --- Capital flight --- Capital flows --- Capital inflow --- Capital outflow --- Flight of capital --- Flow of capital --- Movements of capital --- Balance of payments --- Foreign exchange --- International finance --- International banking --- Offshore banking (Finance) --- Transnational banking --- Financial institutions, International --- Econometric models. --- Banks and Banking --- Financial Risk Management --- Money and Monetary Policy --- Statistics --- Financial Crises --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Data Collection and Data Estimation Methodology --- Computer Programs: Other --- International Lending and Debt Problems --- Economic & financial crises & disasters --- Banking --- Monetary economics --- Econometrics & economic statistics --- Financial crises --- Bank credit --- Financial statistics --- Cross-border banking --- Banks and banking --- Credit --- Finance --- United States