… growth of exchange-traded funds (ETFs) affects the sensitivity of international capital flows
to the global financial cycle… sensitivity to global financial conditions for equity (bond) ETFs is …

… more sensitive to global financial conditions. We conclude that … growing role of ETFs as a
channel for international capital flows amplifies the global financial cycle in emerging markets. …

… sensitivity of emerging markets cross-border fund flows to the global financial cycle. We
find that benchmark-driven fund flows are more sensitive to the global financial cycle than non-…

… funds could amplify changes in emerging market securities … In the aftermath of the 2007–2008
global financial crisis, a … in emerging market securities may be mutual funds or ETFs (as in …

… significantly more sensitive to global risk factors. We conclude that … growing role of ETFs as
a channel for international capital flows amplifies the incidence of the global financial cycle in …

… also boost integration with global financial markets and enhance international financial
flows… as a few other categories such as emerging market bonds ETFs (Deutsche Bank 2017b). …

… 2008 global financial crisis, Exchange Traded Funds (ETFs) … value the US ETF market
at $3.4 trillion-an increase of more … Yet, despite this growing market share, ETFs present a …

… Our result also suggests that bond fund managers amplify … indicators of global financial
conditions, such as the world equity … funds are ETFs while most active funds are not ETFs in our …

… We show that an increase in the VIX results in selling … for both developed and emerging
economies. We also consider … local and global economic uncertainty on the trading decisions of …

… of funds into currency-hedged equity ETFs will increase in response to the depreciation or
… How etfs amplify the global financial cycle in emerging markets. The Review of Financial …