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首页> 外文期刊>Global Economy Journal >FOREIGN CAPITAL AND DOMESTIC FUNDING CONDITIONS: A MUNDELLIAN TRILEMMA PERSPECTIVE
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FOREIGN CAPITAL AND DOMESTIC FUNDING CONDITIONS: A MUNDELLIAN TRILEMMA PERSPECTIVE

机译:外资和国内资金条件:AMUNDELLIAN三难选择角度

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摘要

This study investigates and evaluates the impact of global funding conditions on private sector credit growth and controlling for the Mundellian Trilemma configuration. We contribute to the empirical literature by investigating the role of other conditioning factors such as the size of economies and their level of economic development. The more specific research goals are as follows: (i) To explore the different Trilemma configurations by income group and size of the economies; (ii) to enrich international macroeconomics literature on the role of Trilemma configurations and countries’ idiosyncrasies in assessing the impact of global financial conditions; and (iii) to formulate policy-relevant conclusions. We argue that — when assessing the impactof global financial conditions — the exchange rate regime and financial openness matter and the size of the economy and its income level. The high volatility in gross and net international capital flows redefined many trilemma configurations in the Great Recession aftermath. Many countries decided to shield their financial markets by reducing the degree of financial openness and moving toward intermediate or middle-ground positions in their Trilemma configurations.
机译:本研究调查和评估的影响私营部门全球资金的条件Mundellian信贷增长和控制三难选择配置。实证文献调查的作用其他条件作用的大小等因素经济和他们的经济水平发展。如下:(i)探索不同的三难选择配置的收入群体和规模经济;宏观经济学文献三难选择的角色配置和国家的特性评估全球金融的影响条件;政策相关的结论。评估impactof全球金融——汇率制度和条件金融开放和大小的问题经济和收入水平。生产总值(gdp)和净国际资本流动重新定义了许多三难选择配置大衰退之后。保护他们的金融市场通过减少金融开放程度和走向中间或在他们中间立场的位置三难选择配置。

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