The impact of capital mobility on the great depression & great recession : a theoretical and empirical point of view
Zhou Wu, Jiaxian
Esnaola Acebes, Mikel, dir. (Universitat Autònoma de Barcelona. Departament d'Economia i d'Història Econòmica)
Universitat Autònoma de Barcelona. Facultat d'Economia i Empresa

Data:	2021
Descripció:	67 pag.
Resum:	In this paper we have shown that the relationship between Savings and Investment has varied across time, thus implying changes on capital mobility in different periods. Moreover, we have shown that the International Monetary and Financial System (IMFS) of different periods have different impacts on capital mobility and financial crises, depending on the nature of it. Using the idea of the Global Saving Glut by Bernanke (2005) and the Basco's (2014) OLG model that includes bubble, we have shown that international capital mobility has played a significant role in the formation of the bubble in the Great Recession (1920's) and the Great Recessions (2008). Finally, we have also shown that the crises of both Grand Financial Crises were quite similar, or, at least in the causes of it. Foreign capital exploited the financial weaknesses and help to extend the crises across borders and in some cases the glut of capital created financial bubbles. In both cases an excess of capital and an exhaustion of "good investments", as I defined for those investments that expands the production capability of an economy, help to create speculative behaviors in the market that ended with asset bubbles.
Drets:	Aquest document està subjecte a una llicència d'ús Creative Commons. Es permet la reproducció total o parcial, la distribució, la comunicació pública de l'obra i la creació d'obres derivades, sempre i quan aquestes es distribueixin sota la mateixa llicència que regula l'obra original i es reconegui l'autoria.
Llengua:	Anglès
Titulació:	Economia [2501573]
Pla d'estudis:	Grau en Economia [1280]
Document:	Treball final de grau ; Text
Matèria:	International capital mobility ; Financial bubbles ; Financial crises ; International Monetary and Financial System ; IMFS

TFG 68 p, 2.8 MB

Pòster 1 p, 1.7 MB

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