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Episodes of extreme international capital inflows in emerging and developing economies: The role of global economic policy uncertainty
Based on annual data for 31 emerging and developing economies in the period 2000–2020, this paper explores the impact of global economic policy uncertainty on episodes of extreme international capital inflows. Following previous researches, we identify episodes of surges and stops. The results show...
Autores principales: | , , , |
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Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
Public Library of Science
2022
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Materias: | |
Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9518921/ https://www.ncbi.nlm.nih.gov/pubmed/36170280 http://dx.doi.org/10.1371/journal.pone.0275249 |
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author | An, Xiaoqing Wu, Bingyan Dedahanov, Alisher Tohirovich Sun, Wei |
author_facet | An, Xiaoqing Wu, Bingyan Dedahanov, Alisher Tohirovich Sun, Wei |
author_sort | An, Xiaoqing |
collection | PubMed |
description | Based on annual data for 31 emerging and developing economies in the period 2000–2020, this paper explores the impact of global economic policy uncertainty on episodes of extreme international capital inflows. Following previous researches, we identify episodes of surges and stops. The results show that the global economic policy uncertainty can significantly increase the probability of surges and decrease the probability of stops in emerging and developing economies. The heterogeneity tests show that these effects vary with economic growth, financial development, the degree of economic globalization and global liquidity. Above effects are significant in the groups with higher economic growth, higher financial development, higher economic globalization and higher global liquidity. Further analyses show that as global economic policy uncertainty rises, its impact on surges and stops gradually declines. In addition, global economic policy uncertainty has a significant negative effect on the surge in advanced economies, which could confirm the above conclusion to a certain extent. |
format | Online Article Text |
id | pubmed-9518921 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2022 |
publisher | Public Library of Science |
record_format | MEDLINE/PubMed |
spelling | pubmed-95189212022-09-29 Episodes of extreme international capital inflows in emerging and developing economies: The role of global economic policy uncertainty An, Xiaoqing Wu, Bingyan Dedahanov, Alisher Tohirovich Sun, Wei PLoS One Research Article Based on annual data for 31 emerging and developing economies in the period 2000–2020, this paper explores the impact of global economic policy uncertainty on episodes of extreme international capital inflows. Following previous researches, we identify episodes of surges and stops. The results show that the global economic policy uncertainty can significantly increase the probability of surges and decrease the probability of stops in emerging and developing economies. The heterogeneity tests show that these effects vary with economic growth, financial development, the degree of economic globalization and global liquidity. Above effects are significant in the groups with higher economic growth, higher financial development, higher economic globalization and higher global liquidity. Further analyses show that as global economic policy uncertainty rises, its impact on surges and stops gradually declines. In addition, global economic policy uncertainty has a significant negative effect on the surge in advanced economies, which could confirm the above conclusion to a certain extent. Public Library of Science 2022-09-28 /pmc/articles/PMC9518921/ /pubmed/36170280 http://dx.doi.org/10.1371/journal.pone.0275249 Text en © 2022 An et al https://creativecommons.org/licenses/by/4.0/This is an open access article distributed under the terms of the Creative Commons Attribution License (https://creativecommons.org/licenses/by/4.0/) , which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited. |
spellingShingle | Research Article An, Xiaoqing Wu, Bingyan Dedahanov, Alisher Tohirovich Sun, Wei Episodes of extreme international capital inflows in emerging and developing economies: The role of global economic policy uncertainty |
title | Episodes of extreme international capital inflows in emerging and developing economies: The role of global economic policy uncertainty |
title_full | Episodes of extreme international capital inflows in emerging and developing economies: The role of global economic policy uncertainty |
title_fullStr | Episodes of extreme international capital inflows in emerging and developing economies: The role of global economic policy uncertainty |
title_full_unstemmed | Episodes of extreme international capital inflows in emerging and developing economies: The role of global economic policy uncertainty |
title_short | Episodes of extreme international capital inflows in emerging and developing economies: The role of global economic policy uncertainty |
title_sort | episodes of extreme international capital inflows in emerging and developing economies: the role of global economic policy uncertainty |
topic | Research Article |
url | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9518921/ https://www.ncbi.nlm.nih.gov/pubmed/36170280 http://dx.doi.org/10.1371/journal.pone.0275249 |
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