TASSA EconFin Seminar by Prof. Kalemli-Özcan
TASSA is pleased to launch a research seminar series on Economics and Financial Economics. These "EconFin" seminars will be held in Washington DC and will bring together TASSA community members who have interest in economics and finance research. The workshop is a free event. Pizza and soft drinks are served after the seminar. We expect to see as many of you as possible but space is limited so early registration is recommended.
The first seminar in this seminar series was presented by Professor Şebnem Kalemli-Özcan from University of Maryland, Department of Economics. Seminar details and presentation videoas are as follows:
Sovereigns, Upstream Capital Flows, and Global Imbalances
Presented by Şebnem Kalemli-Özcan
The paper presents new stylized facts on the direction of capital flows. We find (i) international capital flows net of government debt and/or official aid are positively correlated with growth; (ii) sovereign debt flows are negatively correlated with growth only if debt is financed by another sovereign; (iii) public savings are robustly positively correlated with growth as opposed to private savings. Sovereign to sovereign transactions can fully account for upstream capital flows and global imbalances. These empirical facts contradict the conventional wisdom and constitute a challenge for existing theories.
Date: Sunday, September 23, 2012
Time: 10:30 am to 12 pm
Location: Ronald Reagan Building & International Trade Center,
Concourse Level Suite C6, Washington DC
Summary (first 15 minutes)