Volatile capital flows and financial integration : the role of moral hazard

• المؤلفون الرئيسيون: Kikuchi, Tomoo, Stachurski, John, Vachadze, George
• مؤلفون آخرون: S. Rajaratnam School of International Studies
• التنسيق: مقال
• اللغة: English
• منشور في: 2020
• الموضوعات: Business::Finance; Capital Flows; Moral Hazard
• الوصول للمادة أونلاين: https://hdl.handle.net/10356/142552

We study a model in which income and capital flows between countries are jointly determined in a world economy with integrated financial markets. In a setting that combines risky entrepreneurial activity with moral hazard, we find that a shift from autarky to financial integration leads to boom-bust...