paper in pdf format
... The rationale for granting this special treatment to LDCs was to incentivize these countries to
invest in export production and expand exports of products in which they already have
comparative advantage, as well as to promote export product diversification, including through
industrialization. The ...
... theory) - compared to FDI licensing is less attractive
firm could give away valuable technological
know-how to a potential foreign competitor
does not give a firm the control over
manufacturing, marketing, and strategy in the
the firm’s competitive advantage may be based
on its ...
Principles of Macroeconomics for AP® Courses
... 1.3 How Economists Use Theories and Models to Understand Economic Issues .
1.4 How Economies Can Be Organized: An Overview of Economic Systems . . .
Chapter 2: Choice in a World of Scarcity . . . . . . . . . . . . . . . . . . . . . . .
2.1 How Individuals Make Choices Based on Their Budget Constrain ...
Optimal Asset Location and Allocation with Taxable and Tax
... short-sale opportunities in their taxable accounts. (We later relax these assumptions to see what effect they have on the optimal location decision.) We
also assume that the tax rate on ordinary income (dividends and interest), τd , is
higher than the tax rate on capital gains and losses, τg . Under ...
Analysis of trade flows between SICA and the rest of Latin
... Exports of goods from SICA to the RLAC, in nominal terms, during the period 2001-2013,
have expanded at a quite greater average rate than exports to the rest of the world.
Exports of goods aimed at the RLAC significantly increased their share in total exports of
goods and in the GDP, but still repre ...
Sovereign Defaults during the Great Depression: New Data
... Ganainy, and Horton (2010), for example, are vulnerable to issues of cross country comparability due to the different accounting standards used by countries. More worryingly, they
only take central government debt into account. Countries with federal structures - such as
Brazil and Germany (two of t ...
No.374 / September 2011 The Cyclical Conduct of Irish Fiscal Policy
... revenues and cyclical expenditure items will grow in line with actual output growth while
non-cyclical expenditure items will grow in line with trend output growth. The di¤erence
between the actual and indexed balances captures the discretionary change in the …scal position. By this method, it is ca ...
The Unemployment Rate The Other Factors - U
... The third variable in equation (6.1), z, is a catchall variable that stands for all the factors that affect wages given the expected price level and the unemployment rate. By By the definition of z, an inconvention, we will define z so that an increase in z implies an increase in the wage crease in ...
Paper 16 - Institute of Cost Accountants of India
... discussed in the light of the above mentioned definition and requirements given in paras 13 -15
of the said AS 4 (Revised).
In this case the incidence, which was expected to push up cost became evident after the date of
approval of the accounts. So that was not an 'event occurring after the balance ...
... with improved accomplishments in South Asian as well as some of the least developed countries. Thus,
while the average growth rate of both East and South-East Asian economies in 1994 increased only
marginally, that of the South Asian economies registered an improvement by nearly a full percentage po ...
... financed by current tax revenues. Financing such
consumptive expenditures with public debt would
crowd out private investments due to increasing interest rates. Although the balanced budget rule is
still widely used, it has to be taken into account that
a balanced budget does not necessarily have a ...
... recovery notwithstanding, the international environment in the short term seems significantly less harsh than in the
early 1980s. However, the recession has left some undesirable imprints yet to be effaced. Restrictions to the free
flow of world trade continue, real interest rates in world capital m ...
The current account and precautionary savings for
... resource countries and the extent to which high income volatility is
transmitted into volatility of consumption. We also examine the role of
various channels in reducing the volatility of consumption. Throughout
the paper the deﬁnition of exhaustible resources is restricted to oil and
gas, for which ...
Chapter VIII (pdf format)
... CURRENCY RISK MANAGEMENT AT THE FIRM LEVEL
At the firm level, currency risk is called exposure. The globalization of the business
environment has turned exposure into a general management responsibility. Exposure is
traditionally divided in three areas: transaction exposure, economic exposure, and
Investment a Major Driver, Except in Countries Plagued by
... The CIS-3 and Ukraine are outliers in this respect as well; they have started cutting back on
expenditures so as to reduce their fiscal deficits.
In the years to come, exports may well expand with external demand recovering, but imports
may grow even more rapidly as consumption and investment expand ...
modernized barter trade, bottom up projection under the
... difficulties associated with operating the reserve money programme will be improved. The
procedures taken will give magnitude to aggregate demand and supply of goods and services
therefore avoid the occurrence of frozen assets.
Currently, countries are undergoing a fundamental transformation and the ...
AP ECON – Final Exam Review
____ 43. The other things equal assumption allows economists to
a. avoid making assumptions about reality
d. allow nothing to change in their model
b. focus on the effects of only one change at e. reflect all aspects of the real world in their
convergence report 1998
... of the structural stance of fiscal policy. They
need to be replaced by durable measures in
order to avoid an increase in net borrowing
requirements in 1998, or in subsequent years
if they have given rise to future expenditure
obligations or future shortfalls in revenues.
Evidence available so far su ...
International Monetary Review
... devaluation of 12%, according to data from the Bank for International Settlements.
The movement has accelerated since the ECB started large purchases of government
bonds earlier this month, much of which involves encouraging foreign official
holders to sell their euro reserves, often being exchanged ...
Chapter 7 Seven Foreign Direct Investment
... Knickerbocker explored the relationship between FDI
and rivalry in oligopolistic industries (industries
composed of a limited number of large firms)
Knickerbocker - FDI flows are a reflection of strategic
rivalry between firms in the global marketplace
This theory can be extended to embrace the ...
... of past transactions or events. [Footnote references omitted.] 78823
other entities in the future as a result of past transactions or 87331
of past transactions or events. [Footnote references omitted.] 103815
obligation to pay exists as a result of past events or transactions…104773
as a result of ...
Three essays about monetary policy in China - ROS Home
... examined through different econometric approaches.
One feature of the policy stance index derived in Chapter 1 is that it takes account of all the central bank’s monetary policy instruments at the same time. It is
reasonable to infer that China’s monetary policy affects aggregate demand through
... input use because he/she receives only part of the marginal product. A number of studies challenged
Marshall’s conclusion. Cheung (1969) argued that sharecropping could be as efficient as other types
of contracts if monitoring is costless. Stiglitz (1974), and Newbery and Stiglitz (1979) introduced
Balance of payments
The balance of payments, also known as balance of international payments and abbreviated BoP or BP, of a country is the record of all economic transactions between the residents of the country and the rest of the world in a particular period (over a quarter of a year or more commonly over a year). These transactions are made by individuals, firms and government bodies. Thus the balance of payments includes all external visible and non-visible transactions of a country . It represents a summation of country's current demand and supply of the claims on foreign currencies and of foreign claims on its currency..These transactions include payments for the country's exports and imports of goods, services, financial capital, and financial transfers.It is prepared in a single currency, typically the domestic currency for the country concerned. Sources of funds for a nation, such as exports or the receipts of loans and investments, are recorded as positive or surplus items. Uses of funds, such as for imports or to invest in foreign countries, are recorded as negative or deficit items.When all components of the BOP accounts are included they must sum to zero with no overall surplus or deficit. For example, if a country is importing more than it exports, its trade balance will be in deficit, but the shortfall will have to be counterbalanced in other ways – such as by funds earned from its foreign investments, by running down central bank reserves or by receiving loans from other countries.While the overall BOP accounts will always balance when all types of payments are included, imbalances are possible on individual elements of the BOP, such as the current account, the capital account excluding the central bank's reserve account, or the sum of the two. Imbalances in the latter sum can result in surplus countries accumulating wealth, while deficit nations become increasingly indebted. The term balance of payments often refers to this sum: a country's balance of payments is said to be in surplus (equivalently, the balance of payments is positive) by a specific amount if sources of funds (such as export goods sold and bonds sold) exceed uses of funds (such as paying for imported goods and paying for foreign bonds purchased) by that amount. There is said to be a balance of payments deficit (the balance of payments is said to be negative) if the former are less than the latter. A BOP surplus (or deficit) is accompanied by an accumulation (or decumulation) of foreign exchange reserves by the central bank.Under a fixed exchange rate system, the central bank accommodates those flows by buying up any net inflow of funds into the country or by providing foreign currency funds to the foreign exchange market to match any international outflow of funds, thus preventing the funds flows from affecting the exchange rate between the country's currency and other currencies. Then the net change per year in the central bank's foreign exchange reserves is sometimes called the balance of payments surplus or deficit. Alternatives to a fixed exchange rate system include a managed float where some changes of exchange rates are allowed, or at the other extreme a purely floating exchange rate (also known as a purely flexible exchange rate). With a pure float the central bank does not intervene at all to protect or devalue its currency, allowing the rate to be set by the market, and the central bank's foreign exchange reserves do not change, and the balance of payments is always zero.