The Systemic Impact of Debt Default in a Multilayered Global Network Model

Porter, Nathan; Mora, Camilo Tovar; Trevino, Juan; Eugster, Johannes; Papamichalis, Theofanis

doi:10.5089/9798400218712.001

Cited by 3 publications

(1 citation statement)

References 16 publications

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“…PPP = purchasing power parity; SDR = special drawing rights. To measure the importance of a reserve currency issuer in global trade networks, the country's share of world exports and a measure of its centrality in the global trade network are used (Porter et al 2022). 25 While the estimated coefficients are positive, they are not statistically significant (Table 2, column 3).…”

Section: Robustness Checksmentioning

confidence: 99%

Reserve Currencies in an Evolving International Monetary System

Lusinyan

Gamba

et al. 2022

Open Econ Rev

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Despite major structural shifts in the international monetary system over the past six decades, the US dollar remains the dominant international reserve currency. Using a newly compiled database of individual economies’ reserve holdings by currency, this paper finds that financial links have been an increasingly important driver of reserve currency configurations since the global financial crisis, particularly for emerging market and developing economies. The paper also finds a rise in inertial effects, implying that the US dollar dominance is likely to endure. But historical precedents of sudden changes suggest that new developments, such as the emergence of digital currencies and new payments ecosystems, could accelerate the transition to a new landscape of reserve currencies.

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Section: Robustness Checksmentioning

confidence: 99%

Reserve Currencies in an Evolving International Monetary System

Lusinyan

Gamba

et al. 2022

Open Econ Rev

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Definitions and Introductions

Ciumasu

2024

Green Energy and Technology

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D: Management, Accounting and Technology

2022

World Banking Abstracts

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Using corporate social responsibility (CSR) ratings as a proxy for ethical culture, the study examines whether a firm's CSR rating influences its stock repurchase decisions. Using a panel of US firms over the period 1996-2017, baseline results indicate a positive association between CSR and repurchases, while CSR appears to amplify the positive association between free cash flow and stock repurchases and lessens the positive association between executive options and stock repurchases. These findings suggest that corporate ethics could play a significant role in repurchase decisions by encouraging repurchases that are aligned with shareholders' interests, while discouraging those in managers' interest. (1 figure, 14 tables, references)

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The Systemic Impact of Debt Default in a Multilayered Global Network Model

Cited by 3 publications

References 16 publications

Reserve Currencies in an Evolving International Monetary System

Reserve Currencies in an Evolving International Monetary System

Definitions and Introductions

D: Management, Accounting and Technology

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