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Hayward, R and Gregoriou, A (2021) International Capital Flows and Speculation. Journal of Risk and Financial Management, 14 (5). ISSN 1911-8066
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Abstract
In response to questions about the relative importance of different types of capital flow for international competitiveness, we develop a structural vector auto-regressive model of the real exchange rate and international capital flows. We reveal that innovations to speculative sentiment cause changes in competitiveness. We report that speculation replaces the effect of equity, bond and most of the interest rate effect. The results show that international speculative sentiment is an important contributor to exchange rate and that monetary and regulatory authorities should find ways of measuring and understanding banking and financial flows.
| Item Type: | Article |
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| Subjects: | H Social Sciences > HF Commerce > HF5001 Business |
| Divisions: | Liverpool Business School |
| Publisher: | MDPI |
| SWORD Depositor: | A Symplectic |
| Date Deposited: | 01 Jul 2024 13:20 |
| Last Modified: | 01 Jul 2024 13:30 |
| DOI or ID number: | 10.3390/jrfm14050197 |
| URI: | https://researchonline.ljmu.ac.uk/id/eprint/23670 |
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