The International Monetary Fund and East Asian Financial Crisis
... pace of current production. Thus, higher interest rates did not attract back foreign capital because investors were very uncertain whether the corporate bankruptcies would lead to bank failures as well. Instead, the East Asian governments should have allowed to lower interest rates, which would have ...
... pace of current production. Thus, higher interest rates did not attract back foreign capital because investors were very uncertain whether the corporate bankruptcies would lead to bank failures as well. Instead, the East Asian governments should have allowed to lower interest rates, which would have ...
The World Bank: a never-ending coup d`état. The hidden
... transferred to the newly emerging nations. This "odious debt" is a violation of international law which Toussaint describes as having been imposed on "the Bank, with the connivance of its main colonial shareholders and the blessing of the US". The Bank's mandate was to be purely economic, not to be ...
... transferred to the newly emerging nations. This "odious debt" is a violation of international law which Toussaint describes as having been imposed on "the Bank, with the connivance of its main colonial shareholders and the blessing of the US". The Bank's mandate was to be purely economic, not to be ...
History doesn`t repeat, but it rhymes
... In particular, the 1970s offer some interesting parallels to the current context. Four decades ago there was also unprecedented turbulence in oil markets and inflation shocks (albeit in the opposite direction from the current situation of tumbling oil prices and widespread deflationary forces). Ther ...
... In particular, the 1970s offer some interesting parallels to the current context. Four decades ago there was also unprecedented turbulence in oil markets and inflation shocks (albeit in the opposite direction from the current situation of tumbling oil prices and widespread deflationary forces). Ther ...
Summary
... between the periods 1928-1934 and 2007-2010 and revisiting the regional and worldwide significance of ABU. The results of the Herfindahl-Hirschmann index (HHI) suggest that ABU were more vulnerable to external real shocks during 1928-1934 than during 20072010, due to a higher concentration in terms ...
... between the periods 1928-1934 and 2007-2010 and revisiting the regional and worldwide significance of ABU. The results of the Herfindahl-Hirschmann index (HHI) suggest that ABU were more vulnerable to external real shocks during 1928-1934 than during 20072010, due to a higher concentration in terms ...
Contradictions - EESC European Economic and Social Committee
... Joan Robinson: the central paradox of capitalism is that ‘each employer individually gains from a low real wage in terms of his product, but all suffer from the limited market for commodities which a low real-wage rate entails’. ...
... Joan Robinson: the central paradox of capitalism is that ‘each employer individually gains from a low real wage in terms of his product, but all suffer from the limited market for commodities which a low real-wage rate entails’. ...
Economic Policy Trends in Post
... nature of ISI, state enterprises and the state in general received the lion’s share of funds as the inflows financed ever-increasing public sector deficits (Kuczynski 1988). A favorable international environment of low real interest rates During most of the and strong demand for economic crises of t ...
... nature of ISI, state enterprises and the state in general received the lion’s share of funds as the inflows financed ever-increasing public sector deficits (Kuczynski 1988). A favorable international environment of low real interest rates During most of the and strong demand for economic crises of t ...
The scene is still fresh in my mind
... The rest of the story we know. Latin America embarked on a course of drastic trade liberalization and opening to the world. Some industries –Mexican maquilas¸ Chilean fruit and wine-- boomed; others lagged behind. For every growth miracle like Chile’s (and more recently the Dominican Republic’s) the ...
... The rest of the story we know. Latin America embarked on a course of drastic trade liberalization and opening to the world. Some industries –Mexican maquilas¸ Chilean fruit and wine-- boomed; others lagged behind. For every growth miracle like Chile’s (and more recently the Dominican Republic’s) the ...
TRADE STRATEGIES FOR ECONOMIC GROWTH
... The Asian Tigers • In the Asian tiger countries, governments played an important role by providing infrastructure, subsidizing output through low credit terms via central banks and promoting savings and improvements in technology. • In addition, governments adopted policies where they protected dome ...
... The Asian Tigers • In the Asian tiger countries, governments played an important role by providing infrastructure, subsidizing output through low credit terms via central banks and promoting savings and improvements in technology. • In addition, governments adopted policies where they protected dome ...
Critically Assessing Macroeconomic Policies in Brazil from Lula da
... During this whole period (2003-2014), GDP grew by an average of about 3.4% per year while the average inflation rate was 5.9% (see Table 1, next page). In addition, the unemployment rate dropped from 12.3% to 4.8%. The fiscal surplus averaged 3.1% of GDP and the net public debt dropped from 52% of G ...
... During this whole period (2003-2014), GDP grew by an average of about 3.4% per year while the average inflation rate was 5.9% (see Table 1, next page). In addition, the unemployment rate dropped from 12.3% to 4.8%. The fiscal surplus averaged 3.1% of GDP and the net public debt dropped from 52% of G ...
This PDF is a selection from an out-of-print volume from... Bureau of Economic Research
... good measure financing current public and private consumption rather than productive investment. But how should external borrowing be analyzed in an economic framework? In particular, is Brazil's debt too large? Is it worth making the extreme growth sacrifice Brazil has chosen in the 1981 recession ...
... good measure financing current public and private consumption rather than productive investment. But how should external borrowing be analyzed in an economic framework? In particular, is Brazil's debt too large? Is it worth making the extreme growth sacrifice Brazil has chosen in the 1981 recession ...
View full article - Economic Research
... exchange rate system tends to constrain money creation, but there is always the opportunity to respond by imposing capital and trade controls as the United States did in the 1 960s. The fixed rate system itself cannot impose discipline that the political system refuses to accept. But the irrelevance ...
... exchange rate system tends to constrain money creation, but there is always the opportunity to respond by imposing capital and trade controls as the United States did in the 1 960s. The fixed rate system itself cannot impose discipline that the political system refuses to accept. But the irrelevance ...
Institutions, Governance and Globalization notes
... “Washington's preoccupation has been not economic fundamentals but market confidence. And what does it take to restore confidence? Policies that may not make sense in and of themselves but that policymakers believe will appeal to the prejudices of investors--or, in some cases, that they believe will ...
... “Washington's preoccupation has been not economic fundamentals but market confidence. And what does it take to restore confidence? Policies that may not make sense in and of themselves but that policymakers believe will appeal to the prejudices of investors--or, in some cases, that they believe will ...
Impact and Response of Asian Economic Crisis and Global
... particularly for Thai baht. Thailand has also been affected by the non-performing loan (NPL) of bank and non-bank financial institutions and over supply of real estates are other essential factors contributed to the crisis. NPL created by financial institutions from the advantage of the cost of borr ...
... particularly for Thai baht. Thailand has also been affected by the non-performing loan (NPL) of bank and non-bank financial institutions and over supply of real estates are other essential factors contributed to the crisis. NPL created by financial institutions from the advantage of the cost of borr ...
Lecture 2 Growth Theory to Growth Strategy
... Parallel institutions are workarounds: (Collier’s ISA, EPZs, charter cities) Asset redistribution shocks ...
... Parallel institutions are workarounds: (Collier’s ISA, EPZs, charter cities) Asset redistribution shocks ...
Alan Greenspan: The wealth of nations revisited
... Finally, an undeniable determinant of economic growth is macroeconomic stability--having fiscal, monetary, and exchange rate policies that are sound and predictable. A prudent government sets, among other things, the long-run course of policy variables such as inflation, the government budget defici ...
... Finally, an undeniable determinant of economic growth is macroeconomic stability--having fiscal, monetary, and exchange rate policies that are sound and predictable. A prudent government sets, among other things, the long-run course of policy variables such as inflation, the government budget defici ...
Document
... • Single-minded focus on inflation was worse than was realized 20 years ago—it contributed to the global financial crisis • Even then, inflation target should have been higher • Single-minded focus on interest rate is wrong—many more instruments • Simplistic rules, e.g. “monetarism” and “inflation t ...
... • Single-minded focus on inflation was worse than was realized 20 years ago—it contributed to the global financial crisis • Even then, inflation target should have been higher • Single-minded focus on interest rate is wrong—many more instruments • Simplistic rules, e.g. “monetarism” and “inflation t ...
Boris Vujcic
... to build institutions, how to sequence reforms, how to handle crisis, political economy of fiscal policy etc. • we know that we need to build competent institutions, robust financial and regulatory systems,flexible labor markets, run countercyclical fiscal policies, elliminate corruption, diversify ...
... to build institutions, how to sequence reforms, how to handle crisis, political economy of fiscal policy etc. • we know that we need to build competent institutions, robust financial and regulatory systems,flexible labor markets, run countercyclical fiscal policies, elliminate corruption, diversify ...
World Economic Outlook
... Implementation of a clear medium-term fiscal adjustment plan is a key requirement for sustainable growth, with support of fiscal institutions Growth enhancing measures are very important for the fiscal accounts! Challenges: Secure adjustment/reform without immediate market/political pressure Diffi ...
... Implementation of a clear medium-term fiscal adjustment plan is a key requirement for sustainable growth, with support of fiscal institutions Growth enhancing measures are very important for the fiscal accounts! Challenges: Secure adjustment/reform without immediate market/political pressure Diffi ...
Presentation, Powerpoint 2.4Mb - The Cambridge Trust for New
... portfolio capitals and FDI. Since mid-2009 there is a quick recovery of capital inflows. • There was a quick and deep contagious of the international financial crisis in LA, but recovery was also quick. Previous policy of reduction of external vulnerability plus adoption of floating exchange rate re ...
... portfolio capitals and FDI. Since mid-2009 there is a quick recovery of capital inflows. • There was a quick and deep contagious of the international financial crisis in LA, but recovery was also quick. Previous policy of reduction of external vulnerability plus adoption of floating exchange rate re ...
Overview of Stiglitz (chs. 1-2)
... • Isolation to autarky not unfettered capitalism – large role of government • Autarky to globalization undermines role of government and ability to create institutions in LDC • Need global agreements/governance to solve problems created by globalization • Current institutions are failing because… ...
... • Isolation to autarky not unfettered capitalism – large role of government • Autarky to globalization undermines role of government and ability to create institutions in LDC • Need global agreements/governance to solve problems created by globalization • Current institutions are failing because… ...
ARAB COUNTRIES IN TRANSITION IN THE AFTERMATH OF THE …
... • Such a program is expected to produce short-run macroeconomic stability which should, in turn, lay the foundations for rapid economic growth. • Although not a sufficient condition, acceleration of economic growth is a necessary condition for job creation and reduction in unemployment. • The underl ...
... • Such a program is expected to produce short-run macroeconomic stability which should, in turn, lay the foundations for rapid economic growth. • Although not a sufficient condition, acceleration of economic growth is a necessary condition for job creation and reduction in unemployment. • The underl ...
Review of Stiglitz "Globalization and its Discontent"
... they incorporate the characteristics of each individual country. Countries should embrace globalization on their own terms, taking into account their own history, culture, and traditions. However, if poorly designed—or if a cookie-cutter approach is followed—pro-globalization policies are likely to ...
... they incorporate the characteristics of each individual country. Countries should embrace globalization on their own terms, taking into account their own history, culture, and traditions. However, if poorly designed—or if a cookie-cutter approach is followed—pro-globalization policies are likely to ...
LATIN AMERICAN POLITICS
... 14. How did oil help Venezuela come to be one of the region’s best regarded democracies between 1958 and 1989? Why did the political alliance between AD and COPEI work to decrease political violence, and why did it eventually breed the corruption that led to the rise of Hugo Chavez? How rich was Ven ...
... 14. How did oil help Venezuela come to be one of the region’s best regarded democracies between 1958 and 1989? Why did the political alliance between AD and COPEI work to decrease political violence, and why did it eventually breed the corruption that led to the rise of Hugo Chavez? How rich was Ven ...
1 CHAPTER Introduction to The World Economy: Open
... The introduction asks you to think about what it means to assert that there’s a “world economy.” International economic interdependence is difficult to define or quantify. We can quantify some symptoms, such as the extent of trade, relatively easily. Others, including political and distributional is ...
... The introduction asks you to think about what it means to assert that there’s a “world economy.” International economic interdependence is difficult to define or quantify. We can quantify some symptoms, such as the extent of trade, relatively easily. Others, including political and distributional is ...