 Safe Assets at Financial GlobalizationJournal of International Commerce, Economics and Policy (JICEP), 2022, vol. 13, issue 03, 1-21 Abstract: The paper explores the impact of safe assets on the economic growth on the financial globalization context. The method employs both cross-section and panel data regression on a data sample of 148 economies, both advanced and developing ones, over the 1990–2019 period. The robustness analysis is carried out by controlling for different sub-sampling data, including advanced economies compared with emerging and developing economies, and 3 consecutive 10-year periods from 1990 to 2019. The empirical evidence establishes an inverted-U-shaped dependence pattern of economic growth on the assets safety, measured by the sovereign debts rating. The economic growth is first increasing then decreasing on the assets safety, with the turning point being the value at 12.0 of sovereign debts rating. Thus, the assets safety only exerts a positive impact on the economic growth for the low safety level. Keywords: Economic growth; safe assets; globalization; cross-section regression; fixed-effect panel regression (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:wsi:jicepx:v:13:y:2022:i:03:n:s1793993322500156 Ordering information: This journal article can be ordered from DOI: 10.1142/S1793993322500156 Access Statistics for this article Journal of International Commerce, Economics and Policy (JICEP) is currently edited by Ramkishen S. Rajan More articles in Journal of International Commerce, Economics and Policy (JICEP) from World Scientific Publishing Co. Pte. Ltd. |
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