... and RGDP are invariant to the ordering between CUR and
RGDP. On the other hand, capitalflows might affect CUR and RGDP within a quarter, and the CUR and
RGDP shocks may reflect some part of ... imbalances are often financed by capital account, and we would
like to exclude such endogenous movements ofcapitalflows from the shocks to capital flows.
Second, we condition on the current (and lagged) ...
destination of foreign capital, which means that real economic activities in Singapore have little
relationship to capitalflows in and out of the country.
18
The positive effect ofcapital inflows...
... definition of regulatory
capital and risk-weighted assets. The total capital ratio must be no lower than 8%. Tier 2
capital is limited to 100% of Tier 1 capital.
A. Regulatory capital
41. ... the form of any of the following: revolving
credits and lines of credit (including credit cards and overdrafts), personal term
loans and leases (e.g. instalment loans, auto loans and leases, ... measures of risk and economic capital. Over the last decade, a number of
4
•
•
•
•
the validation of any significant change in the risk measurement process;
the accuracy and completeness of...
... how much, and what type ofcapital inflow to buy. Specifically, how
can the central bank make use of prior knowledge relating to the volatility and persistence of
capital flows? And how would ... country by offering improved rates
of return. This could be done either by forcing a step exchange rate depreciation (and thereby
generating the expectation of a strengthening of the rand) or ... indeed be less volatile than other capital flows, they
still tend to show little persistence over time. However, in the case of certain large
one-off inflows of FDI, such as privatization proceeds,...
... Components
of CapitalFlows
Since our last update on capitalflows to emerging market
economies at the end of March, we have revised our projection
for net private capitalflows in 2005 ...
international reserves as a result of current account surpluses and
large capital inflows. Growing confidence on the part of investors
in the policy performance of some of the key emerging market
Table ... overseas listings by a spate of state-owned companies
and banks, including the upcoming IPOs of Bank of China and
the Construction Bank, should lift net inflows of portfolio
equity to $15 billion...
... terms are capitalized, including the names
of religions andof their followers, the names or titles of divine
beings, the titles of certain important figures, the names of
important events and the ... few pupils can locate Iraq or Japan on a map
of the world.
(b) The names of the days of the week, andof the months
of the year, are written with a capital letter:
Next Sunday France will hold ... use ofcapital letters in writing certain abbreviations
and related types of words, including the abbreviated names
of organizations and companies, is explained in the next sec-
tion; the use of...
... of securities of their home country? Standard models of
optimal portfolio choice cannot rationalize this pattern of asset holdings, even in the presence of unhedged foreign
exchange risk. Of ... their market of choice closely
followed by Canada, and the Euro Zone. There is gain to be made from using the opinion of those with first-
hand understanding of foreign markets and knowledge-based ... Repatriation
Restrictions
Ownership Regulations
Risks
of Assets of Profits
Foreign 1 1 Expropriation 1 ½
Ownership of Assets
Market 1 1 Repatriation 2 1
Regulation of Profits
Priority 0.086 0.078 Priority 0.056...
... Ω
0
i
(t) dw
where w
M×1
is the vector of standard Brownian Motions and α
N×1
(t) and
Ω
N×M
(t) are the two adapted processes Ω
0
i
is the i
th
row of Ω.Thecoefficients
of all these Ito processes are stochastic ... S(t−1)]
and
X(t)=X(0) + G(t)
• Let S
i
(t) be the value of asset i at time t,andS
0
(t) be the numeraire, then
the discounted value of i is:
S
d
i
=
S
i
(t)
S
0
(t)
• Self-Þnancing is independent of ... 65
12.A DeÞnition and Characterization 65
12.A.i DeÞnition of the Numeraire (h
,H)
65
12.A.ii Characterization and Composition of (h
,H)
65
12.A.iii The Numeraire Portfolio and Radon-Nikodym...
... overview
of foreign direct investment (FDI) in Vietnam and attempt to review of the current status
of economic research on the determinantsof FDI and its impacts on the economy of
Vietnam. ... Millions
0
200
400
600
800
1000
1200
Number of projects
Register Capital Implemented capital Number of projects
Figure 1: FDI Inflows into Vietnam during 1988-2005, source GSO.
Figure 1 shows the overall trend of FDI inflows in ... terms of the investment
capital and the number of project. However, the average number of telephone included to
35
Development and Policies Research Center
(DEPOCEN)
Center for Analysis and...
... assumption, the rental price ofcapital R should equal the marginal product of
capital. Differentiating the right-hand side of (1) to compute the marginal product of capital
we then get:
2
R = ... fallen to zero.
How much of growth is attributable to the accumulation of physical and human capital, and
how much is the result of productivity growth, has been the subject of intense debates since
the ... that period, and
the third column is the other capital- deepening component of growth. The fourth and fifth
columns indicate what percentage of growth is accounted for by TFP growth and capital
deepening,...
... 2.1. Number of Flights and Marginal Products of Pay
Grade Groups 8
Table 2.2. Number of Flights and Marginal Products of Year-
of- Service Groups 8
Table 2.3. Mission Capable Rate and Marginal ... must also handle large amounts of paperwork and
complete other administrative tasks. The result of all of these demands
on personnel time is that senior members of the force are often in short ... Dahlman, Kerchner, and Thaler (DKT) (2002) demonstrates the
importance of identifying and maintaining the proper experience and
training mix and offers a unique perspective on the issue of setting...