Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. The present paper examines the degree of comovement of gross capital inflows, which is a highly sensitive issue for policy makers. We estimate a dynamic hierarchical factor model that is able to decompose inflows in a sample of 47 economies into (i) a global factor common to all types of flows and all recipient countries, (ii) a factor specific to a given type of capital inflows, (iii) a regional factor and (iv) a country-specific component. We find that the latter explains by far the largest fraction of fluctuations in capital inflows followed by regional factors, which are particularly important for emerging markets' FDI and portfolio inflows as well as bank lending to emerging Europe. The global factor, however, explains only a small share of overall variation. The exposure to global drivers of capital flows, i.e. the global factor and the factor specific to each type of capital inflows, is particularly pronounced for countries with a more developed financial system. A fixed exchange rate regime does not shield countries from the ebb and flow of global capital flow cycles. Terms of use: Documents in

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Social media contributions surrounding the Charlie Hebdo attacks have been key in the creation and evolution of the image of Islam online. While the attacks were seen as an affront to French values and ways of life, online exchanges have traveled around the globe. Especially with social media platforms, such as Twitter and Instagram, offering immediate translations of captions has increased the reach of posts immensely. Specifically, hashtag use has the ability to transcend national boundaries and helps in the creation of echo chambers and or fuels trench warfare online. This article extends on this work by examining how the image of Islam is transmitted and changed on Instagram through the use of the hashtag #CharlieHebdo. Specifically, the following three primary research questions are examined: (1) How does hashtag co-occurrence, in the discussion surrounding Charlie Hebdo, indicate echo chamber behavior? (2) How does trench warfare impact the debate surrounding the image of Islam within the #CharlieHebdo conversation? (3) Which categories can posts be put into based on other hashtags that are used simultaneously? To answer these questions, Instagram posts, posted nearly 6 years after the Charlie Hebdo attack was perpetrated in Paris and during the time of the trials of the suspects took place, are used as a case study. It was found that Islamophobia within the Charlie Hebdo debate online indeed indicates echo chamber behavior. The significance of this study was found to be two-fold. First, it extends the research on detecting echo chamber behavior through social network analysis and sentiment analysis of co-used hashtags. Second, it highlights the fact that trench warfare is a well understood tactic by Instagram users, for the hijacking of hashtags, and the role it plays in the polarization of hashtag communities.