Publication:
The spirit of capitalism, asset pricing and growth in a small open economy
| DC Field | Value | |
|---|---|---|
| dc.contributor.author | Sel Dibooglu | |
| dc.contributor.author | Turalay Kenc | |
| dc.date.accessioned | 2022-05-29T06:28:07Z | |
| dc.date.available | 2022-05-29T06:28:07Z | |
| dc.date.issued | 2007 | |
| dc.description.abstract | Conventional models of economic behavior have failed to account for a number of observed empirical regularities in macroeconomics and international economics. This may be due to preference specifications in conventional models. In this paper, we consider preferences with the "spirit of capitalism" (the desire to accumulate wealth as a way of acquiring status). We analyze a number of potential effects of international catching-up and the spirit of capitalism on savings, growth, portfolio allocation and asset pricing. Moreover, we obtain a multi-factor Capital Asset Pricing Model (CAPM). Our results show that status concerns have non-trivial effects on savings, growth, portfolio allocation, asset prices and the foreign exchange risk premium. | en_US |
| dc.identifier.citation | Dibooglu, S. & Kenc, T. (2007). The spirit of capitalism, asset pricing and growth in a small open economy. Journal of International Money and Finance, 26 (8), pp. 1378-1402. | en_US |
| dc.identifier.doi | https://doi.org/10.1016/j.jimonfin.2007.09.006 | |
| dc.identifier.issn | 0261-5606 | |
| dc.identifier.uri | https://ikr.inceif.edu.my/handle/INCEIF/3567 | |
| dc.language | English | |
| dc.language.iso | eng | en_US |
| dc.publisher | Elsevier B.V. | en_US |
| dc.rights | 2007. Elsevier B.V | |
| dc.source | SEDONA | |
| dc.subject | International catching-up | en_US |
| dc.subject | Asset pricing | en_US |
| dc.subject | Exchange rates | en_US |
| dc.subject | Spirit of capitalism | en_US |
| dc.subject | Stochastic general equilibrium models | en_US |
| dc.title | The spirit of capitalism, asset pricing and growth in a small open economy | en_US |
| dc.type | Journal Article | en_US |
| dlc.maintopic | Conventional finance | en_US |
| dspace.entity.type | Publication | |
| ikr.doctype | Scholarly Works | |
| ikr.topic.maintopic | Conventional finance | en_US |
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