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Covid-19 and Capital Flows: The Responses of Investors to the Responses of Governments

Goldbach, Stefan ; Nitsch, Volker (2021):
Covid-19 and Capital Flows: The Responses of Investors to the Responses of Governments. (Publisher's Version)
In: Darmstadt Discussion Papers in Economics, 242, Darmstadt, ISSN 1438-2733,
DOI: 10.26083/tuprints-00019880,
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Item Type: Report
Status: Publisher's Version
Title: Covid-19 and Capital Flows: The Responses of Investors to the Responses of Governments
Language: English
Abstract:

This paper examines the effect of national government response measures to Covid-19 on German international capital flows. Analyzing highly disaggregated monthly data from the German balance of payments statistics over the period from January 2019 through January 2021, we find that bilateral financial interactions are negatively affected by stricter containment and closure policies as well as health system policies of a partner country, while German capital flows benefit from a partner’s economic support policies. Moreover, to the extent that public interventions to fight the pandemic affect financial interactions, the adjustment mainly takes place along the intensive margin.

Series Name: Darmstadt Discussion Papers in Economics
Volume: 242
Place of Publication: Darmstadt
Collation: 30 Seiten
Classification DDC: 300 Sozialwissenschaften > 330 Wirtschaft
Divisions: 01 Department of Law and Economics > Volkswirtschaftliche Fachgebiete
01 Department of Law and Economics > Volkswirtschaftliche Fachgebiete > International Economics
Date Deposited: 15 Nov 2021 08:19
Last Modified: 15 Nov 2021 08:19
DOI: 10.26083/tuprints-00019880
URN: urn:nbn:de:tuda-tuprints-198809
Additional Information:

JEL Code: F36; F60; I18

URI: https://tuprints.ulb.tu-darmstadt.de/id/eprint/19880
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