Reshaping Tomorrow - CHRISTOPHER PARSONS
... India, which accounts for 80 per cent of the regional economic output, is headed towards double-digit growth rates. South Asia too will grow rapidly, primarily due to India. The pessimistic outlook is that, given huge transformational challenges facing the region, growth should not be taken for gran ...
... India, which accounts for 80 per cent of the regional economic output, is headed towards double-digit growth rates. South Asia too will grow rapidly, primarily due to India. The pessimistic outlook is that, given huge transformational challenges facing the region, growth should not be taken for gran ...
the paper - Brookings Institution
... starting in 2007, the two parties agreed on a fair amount—including greater accountability of the Fed. In short, during severe economic times, we should expect both parties to revisit the Federal Reserve Act. At such junctures, legislators could easily justify limiting Fed powers or, counter-intuiti ...
... starting in 2007, the two parties agreed on a fair amount—including greater accountability of the Fed. In short, during severe economic times, we should expect both parties to revisit the Federal Reserve Act. At such junctures, legislators could easily justify limiting Fed powers or, counter-intuiti ...
Los derechos de reproducción de este documento son propiedad
... portfolio and that adjustments to the portfolio follow changes in relative returns on assets. If the boom in the home country is accompanied by a recession in the host country, the investor will shift to home assets, but if the business cycles of the home and host countries are synchronized, a boom ...
... portfolio and that adjustments to the portfolio follow changes in relative returns on assets. If the boom in the home country is accompanied by a recession in the host country, the investor will shift to home assets, but if the business cycles of the home and host countries are synchronized, a boom ...
How Emerging Markets are Reshaping Globalization
... second half of the nineteenth century. A second notable advance began in Russia at about the same time, reinforced by industrialization under the Soviets, but the model eventually collapsed. It was only after World War II ended and the institutional vacuum created by decolonization began to be fille ...
... second half of the nineteenth century. A second notable advance began in Russia at about the same time, reinforced by industrialization under the Soviets, but the model eventually collapsed. It was only after World War II ended and the institutional vacuum created by decolonization began to be fille ...
From Financial Crash to Debt Crisis
... end—inflation and currency debasement—can also erode the value of some types of existing debts. Thus, we date both the beginning of an inflation or currency crisis episode and its duration. Many of the high-inflation spells can be best described as chronic, in that they last many years. Reinhart and ...
... end—inflation and currency debasement—can also erode the value of some types of existing debts. Thus, we date both the beginning of an inflation or currency crisis episode and its duration. Many of the high-inflation spells can be best described as chronic, in that they last many years. Reinhart and ...
S1100676_en.pdf
... regional integration as a means to foster economic and social development has been set as a priority goal of the United Nations. Coordination and cooperation in the economic sphere is indeed considered as instrumental in creating enabling conditions for growth and mitigating volatility and vulnerabi ...
... regional integration as a means to foster economic and social development has been set as a priority goal of the United Nations. Coordination and cooperation in the economic sphere is indeed considered as instrumental in creating enabling conditions for growth and mitigating volatility and vulnerabi ...
Full paper - CEP - London School of Economics and Political Science
... This paper contributes to two areas of literature. First, in focusing on episodes of unusually large capital inflows, our work is related to the study of what have been called capital flow bonanzas or surges. Our methodology, taken from the literature on credit booms (Gourinchas et al., 2001; Torne ...
... This paper contributes to two areas of literature. First, in focusing on episodes of unusually large capital inflows, our work is related to the study of what have been called capital flow bonanzas or surges. Our methodology, taken from the literature on credit booms (Gourinchas et al., 2001; Torne ...
Are Developing Asia`s Foreign Exchange Reserves Excessive? An
... developing Asia. A large and persistent current account surplus, sometimes reinforced by significant capital inflows, is fueling the build-up of reserves throughout the region. Developing Asia as a region is selling more goods and services to the rest of the world than it is buying from the rest of ...
... developing Asia. A large and persistent current account surplus, sometimes reinforced by significant capital inflows, is fueling the build-up of reserves throughout the region. Developing Asia as a region is selling more goods and services to the rest of the world than it is buying from the rest of ...
Continuous time regime switching model applied to foreign
... effects on some key macroeconomic variables are studied by Caporale and Pittis (1995), who offer some insight of the effects of some regime changes on the real world. In this present paper, we would rather see from a different direction than them. That is, we would like to see what is the inverse ef ...
... effects on some key macroeconomic variables are studied by Caporale and Pittis (1995), who offer some insight of the effects of some regime changes on the real world. In this present paper, we would rather see from a different direction than them. That is, we would like to see what is the inverse ef ...
WHY MIGHT SOME CENTRAL BANKS ISSUE THEIR OWN DIGITAL
... b. If using a permissioned system, could a version of practical byzantine fault tolerance (PBFT) or two-phase commit be used? What are the benefits and the risks in terms of scalability, security and privacy? What other consensus mechanisms might be appropriate? iii. How can appropriate privacy leve ...
... b. If using a permissioned system, could a version of practical byzantine fault tolerance (PBFT) or two-phase commit be used? What are the benefits and the risks in terms of scalability, security and privacy? What other consensus mechanisms might be appropriate? iii. How can appropriate privacy leve ...
Currency Mismatch, Systemic Risk in Emerging Europe (December 2009)
... with a more severe crisis. On net, we find a positive link between currency mismatch and growth despite the output cost of the recent crisis. Our estimates for the period 1998-2009 indicate that a country that increased its currency mismatch by 6.6 percentage points each year—equal to one standard ...
... with a more severe crisis. On net, we find a positive link between currency mismatch and growth despite the output cost of the recent crisis. Our estimates for the period 1998-2009 indicate that a country that increased its currency mismatch by 6.6 percentage points each year—equal to one standard ...
The Rhetoric of Reform and Regulation
... The economic and financial instability that has rocked Europe and North America since 2008 has been a disaster for millions of people who have lost jobs, homes, and savings. We are very conscious of the consequences of the Global Financial Crisis (GFC) on the lives of our fellow citizens. Unraveling ...
... The economic and financial instability that has rocked Europe and North America since 2008 has been a disaster for millions of people who have lost jobs, homes, and savings. We are very conscious of the consequences of the Global Financial Crisis (GFC) on the lives of our fellow citizens. Unraveling ...
THE BANK OF MOZAMBIQUE - Unisa Institutional Repository
... Bank Nationalization can be a confusing topic because it means different things to different people and there are a variety of reasons given by advocates for supporting such a move. ............................................................................................................ 75 Nation ...
... Bank Nationalization can be a confusing topic because it means different things to different people and there are a variety of reasons given by advocates for supporting such a move. ............................................................................................................ 75 Nation ...
S33898F437_en.pdf
... three non-LAC emerging economies: Korea, Malaysia and South Africa. One paper com pares the outstanding differences as well as similarities in the approaches adopted, by Korea and Malaysia, after the explosion of the East Asian crisis; both countries, after a period of orthodox reces sive adjustm e ...
... three non-LAC emerging economies: Korea, Malaysia and South Africa. One paper com pares the outstanding differences as well as similarities in the approaches adopted, by Korea and Malaysia, after the explosion of the East Asian crisis; both countries, after a period of orthodox reces sive adjustm e ...
Thesis - Kyiv School of Economics
... Attention to analysis of capital flows in developing countries was given extensively following series of developing countries currency crises, for example the Mexican and the Asian crises. Specifically, Calvo (1993) launched the exploration of determinates responsible for capital flows in developing ...
... Attention to analysis of capital flows in developing countries was given extensively following series of developing countries currency crises, for example the Mexican and the Asian crises. Specifically, Calvo (1993) launched the exploration of determinates responsible for capital flows in developing ...
A Factor-Augmented Vector Autoregression Analysis of Business
... currency pegs against the US dollar, which allowed a build-up of macro-imbalances, led to the crisis. In its aftermath, East Asian economies were forced to transition towards more flexible exchange rate regimes. However, freely floating exchange rates imply too much bilateral volatility in the regio ...
... currency pegs against the US dollar, which allowed a build-up of macro-imbalances, led to the crisis. In its aftermath, East Asian economies were forced to transition towards more flexible exchange rate regimes. However, freely floating exchange rates imply too much bilateral volatility in the regio ...
monetary policy rules and macroeconomic stability: evidence and
... the estimated rule for the pre-Volcker period permits greater macroeconomic instability than does the Volcker-Greenspan rule. It does so in two distinct respects. First, the pre-Volcker rule leaves open the possibility of bursts of ination and output that result from self-fullling changes in expec ...
... the estimated rule for the pre-Volcker period permits greater macroeconomic instability than does the Volcker-Greenspan rule. It does so in two distinct respects. First, the pre-Volcker rule leaves open the possibility of bursts of ination and output that result from self-fullling changes in expec ...
free sample here
... 3. This question is controversial and there is no consensus of opinion at present. However, as noted in the answer to question 2, culture exerts a second-order effect on accounting. It underlies institutional and other arrangements in a nation that directly affect accounting development. We feel th ...
... 3. This question is controversial and there is no consensus of opinion at present. However, as noted in the answer to question 2, culture exerts a second-order effect on accounting. It underlies institutional and other arrangements in a nation that directly affect accounting development. We feel th ...
How Important Is the Shock-Absorbing Role of the
... gration procedures. Not surprisingly, these new techniques have been most widely used to test PPP, and tend to provide a stronger support for PPP hypothesis. However, as Banerjee et al. (2001) demonstrate, this test can be very over-sized in the presence of long-run cross-unit relationships, so tha ...
... gration procedures. Not surprisingly, these new techniques have been most widely used to test PPP, and tend to provide a stronger support for PPP hypothesis. However, as Banerjee et al. (2001) demonstrate, this test can be very over-sized in the presence of long-run cross-unit relationships, so tha ...
Are twin currency and debt crises special?
... Krugman, 1979; Flood and Garber, 1984) focused on fundamental economic weaknesses such as excessive fiscal and monetary policies as major causes of the breakdown of fixed exchange rate regimes. Following the EMS crisis (1992-93), private devaluation expectations, which affect a government’s policy d ...
... Krugman, 1979; Flood and Garber, 1984) focused on fundamental economic weaknesses such as excessive fiscal and monetary policies as major causes of the breakdown of fixed exchange rate regimes. Following the EMS crisis (1992-93), private devaluation expectations, which affect a government’s policy d ...
comment imf policy and the argentine crisis
... During this period, significant deficits existed because of huge pension systems, large grants to regional governments, corruption, and an inefficient, subsidized private sector." Increasing imports and low exports created a critical balance of payment problem For example, in 1997, exports accounted ...
... During this period, significant deficits existed because of huge pension systems, large grants to regional governments, corruption, and an inefficient, subsidized private sector." Increasing imports and low exports created a critical balance of payment problem For example, in 1997, exports accounted ...
Global Economic Prospects
... adaptation of an original work by The World Bank. Views and opinions expressed in the adaptation are the sole responsibility of the author or authors of the adaptation and are not endorsed by The World Bank. Third-party content—The World Bank does not necessarily own each component of the content co ...
... adaptation of an original work by The World Bank. Views and opinions expressed in the adaptation are the sole responsibility of the author or authors of the adaptation and are not endorsed by The World Bank. Third-party content—The World Bank does not necessarily own each component of the content co ...
The Globalization of World Politics
... regions and beyond within an emerging global market economy. Crises in one region, whether the collapse of the Argentinean economy in 2002 or the East Asian recession of 1997, take their toll on jobs, production, savings, and investment many thousands of miles away, while a slowdown in the US econom ...
... regions and beyond within an emerging global market economy. Crises in one region, whether the collapse of the Argentinean economy in 2002 or the East Asian recession of 1997, take their toll on jobs, production, savings, and investment many thousands of miles away, while a slowdown in the US econom ...
How Independent Should a Central Bank Be?
... exceeding that average by more than one-half percentage point in any quarter. Attending this success on the inflation front has been a gradual decline in the unemployment rate to a level that most economists agree is consistent with full employment. In broad terms, the Fed appears to have achieved t ...
... exceeding that average by more than one-half percentage point in any quarter. Attending this success on the inflation front has been a gradual decline in the unemployment rate to a level that most economists agree is consistent with full employment. In broad terms, the Fed appears to have achieved t ...
International monetary systems
International monetary systems are sets of internationally agreed rules, conventions and supporting institutions, that facilitate international trade, cross border investment and generally the reallocation of capital between nation states. They provide means of payment acceptable between buyers and sellers of different nationality, including deferred payment. To operate successfully, they need to inspire confidence, to provide sufficient liquidity for fluctuating levels of trade and to provide means by which global imbalances can be corrected. The systems can grow organically as the collective result of numerous individual agreements between international economic factors spread over several decades. Alternatively, they can arise from a single architectural vision as happened at Bretton Woods in 1944.