International Payments Imbalances the East Asian Develaping Ecanomies
... 1 According to the World Debt Tables of the World Bank, 1987-88 edition, the end-1982 total debt was 54.4 percent of GNP in Korea and 36.1 percent of GNP in Brazil. ...
... 1 According to the World Debt Tables of the World Bank, 1987-88 edition, the end-1982 total debt was 54.4 percent of GNP in Korea and 36.1 percent of GNP in Brazil. ...
Chapter 1 Understanding Asia`s Economy
... Japan and the Asian tigers grasped this opportunity and grew through a mobilization of resources. In the case of Singapore, the employed share of the population surged from 27 to 51 per cent from 1966 to 1990. The financial system channelled high savings to high investment – as we will show slightly ...
... Japan and the Asian tigers grasped this opportunity and grew through a mobilization of resources. In the case of Singapore, the employed share of the population surged from 27 to 51 per cent from 1966 to 1990. The financial system channelled high savings to high investment – as we will show slightly ...
Folie 1 - Rainer Maurer
... down, which was in part a result of a more restrictive monetary policy by the Fed, which had caused an increase of interest rates from 1927-29. The stock market became more and more nervous in the course of the summer and finally started to collapse on Thursday the 23rd of October. By an interventio ...
... down, which was in part a result of a more restrictive monetary policy by the Fed, which had caused an increase of interest rates from 1927-29. The stock market became more and more nervous in the course of the summer and finally started to collapse on Thursday the 23rd of October. By an interventio ...
Once Again: Ten Years After the Asian Crisis
... The Asian Crisis affected the Philippines, albeit not as significantly as four Asian miracle economies included in this paper. While the Philippines faced small damages relative to the other affected economies, it needs to be pointed out that its economic performance had not been impressive over a l ...
... The Asian Crisis affected the Philippines, albeit not as significantly as four Asian miracle economies included in this paper. While the Philippines faced small damages relative to the other affected economies, it needs to be pointed out that its economic performance had not been impressive over a l ...
Our currency, your problem? The global effects of the euro debt crisis
... crisis events are generally rather small, signi…cantly less than for the global …nancial crisis (although they do not consider the 2012 events which arguably marked the peak of the euro debt crisis). They also …nd that the e¤ect is larger in countries having a higher trade exposure to the euro area ...
... crisis events are generally rather small, signi…cantly less than for the global …nancial crisis (although they do not consider the 2012 events which arguably marked the peak of the euro debt crisis). They also …nd that the e¤ect is larger in countries having a higher trade exposure to the euro area ...
Why the Dollar Needs to Fall Further
... States—is that many of their governments follow interventionist policies in currency markets that short-circuit the type of market correction in the dollar’s value now occurring with the euro and other major currencies. Many East Asian countries either peg their exchange rates at artificially low va ...
... States—is that many of their governments follow interventionist policies in currency markets that short-circuit the type of market correction in the dollar’s value now occurring with the euro and other major currencies. Many East Asian countries either peg their exchange rates at artificially low va ...
MOOSPEAK-- thru 10.11.2015
... cash, though bonds look like they may want to at some point. The ten-year Treasury yield dropped from 2.17% to 1.99% this week. That’s a big move for one week. Big moves usually lead to big opposite reactions after, so it’s hard to get comfortable jumping into bonds this week. As for the model, EDV ...
... cash, though bonds look like they may want to at some point. The ten-year Treasury yield dropped from 2.17% to 1.99% this week. That’s a big move for one week. Big moves usually lead to big opposite reactions after, so it’s hard to get comfortable jumping into bonds this week. As for the model, EDV ...
Washington Mutual – largest bank failure in US history
... You should carefully consider the investment objectives, risks, charges and expenses of The Hartford Mutual Funds and Hartford variable products and their underlying funds before investing. This and other information can be found in the prospectuses for the Mutual Funds and variable products and th ...
... You should carefully consider the investment objectives, risks, charges and expenses of The Hartford Mutual Funds and Hartford variable products and their underlying funds before investing. This and other information can be found in the prospectuses for the Mutual Funds and variable products and th ...
SPERI Paper No.1 - Sheffield Political Economy Research Institute
... • a limited view of global governance as requiring little more than rules to manage competition between national economies. This model was prevalent in the US and the UK and strongly shaped the contours of the global economy through the increasingly hold it came to exert over a range of internation ...
... • a limited view of global governance as requiring little more than rules to manage competition between national economies. This model was prevalent in the US and the UK and strongly shaped the contours of the global economy through the increasingly hold it came to exert over a range of internation ...
SPERI Paper No.1 - Sheffield Political Economy Research Institute
... • a limited view of global governance as requiring little more than rules to manage competition between national economies. This model was prevalent in the US and the UK and strongly shaped the contours of the global economy through the increasingly hold it came to exert over a range of internation ...
... • a limited view of global governance as requiring little more than rules to manage competition between national economies. This model was prevalent in the US and the UK and strongly shaped the contours of the global economy through the increasingly hold it came to exert over a range of internation ...
“How to create a more symmetrical system that provides a... control of international liquidities” Christian Ghymers
... others corresponding to the respective imbalance this state registers against the others. In a political genuine Federation this automatism does not create problem and is supported by the full freedom of circulation for production factors (labor, capital and firms) while the federal government trans ...
... others corresponding to the respective imbalance this state registers against the others. In a political genuine Federation this automatism does not create problem and is supported by the full freedom of circulation for production factors (labor, capital and firms) while the federal government trans ...
Analysis of the RMB`s Chance to be Included in the SDR The
... of the Federal Reserve as the Alternate US Governor. According to the US Law, the US Congress is responsible for authorizing and appropriating all US financial commitments to the IMF, including the US quota and voting share, etc. In the IMF’s 2010 review, the RMB was considered not meeting the free ...
... of the Federal Reserve as the Alternate US Governor. According to the US Law, the US Congress is responsible for authorizing and appropriating all US financial commitments to the IMF, including the US quota and voting share, etc. In the IMF’s 2010 review, the RMB was considered not meeting the free ...
monThlY SEASonAlITY In CUrrEnCY rETUrnS: 1972-2010
... is Senior Lecturer, Griffith Business School, Griffith University. Email: r.bianchi@ griffith.edu.au JEN JE SU is Senior Lecturer, Griffith Business School, Griffith University. Email: j.su@griffith. edu.au ...
... is Senior Lecturer, Griffith Business School, Griffith University. Email: r.bianchi@ griffith.edu.au JEN JE SU is Senior Lecturer, Griffith Business School, Griffith University. Email: j.su@griffith. edu.au ...
Financial distress and firm performance: Evidence from the Asian
... SAMPLE/DATA The countries studied in this paper are Hong Kong, Indonesia, Malaysia, Philippines, Singapore, South Korea, Taiwan, and Thailand. Indonesia, Malaysia, Philippines, South Korea, and Thailand were selected because they were most directly affected by the Asian financial crisis (Mitton, 200 ...
... SAMPLE/DATA The countries studied in this paper are Hong Kong, Indonesia, Malaysia, Philippines, Singapore, South Korea, Taiwan, and Thailand. Indonesia, Malaysia, Philippines, South Korea, and Thailand were selected because they were most directly affected by the Asian financial crisis (Mitton, 200 ...
capital and speculation in emerging market economies
... and foreign direct investment (FDI) became the most important instruments during the 1990s. The share of FDI reached 40 per cent of total net private capital flows during the 1990–96 period. During the 1990s, bonds, equities and short-term portfolio investments such as certificates of deposit and co ...
... and foreign direct investment (FDI) became the most important instruments during the 1990s. The share of FDI reached 40 per cent of total net private capital flows during the 1990–96 period. During the 1990s, bonds, equities and short-term portfolio investments such as certificates of deposit and co ...
GLOBALIZATION OF CAPITAL MOVEMENTS: POTENTIAL
... to the potential transfer of negative shocks from different countries to Israel, due solely to investors holding a portfolio diversified between other countries and Israel. The second assertion relates to the risks involved in currency exposure. This exposure, which is sometimes a side effect of an ...
... to the potential transfer of negative shocks from different countries to Israel, due solely to investors holding a portfolio diversified between other countries and Israel. The second assertion relates to the risks involved in currency exposure. This exposure, which is sometimes a side effect of an ...
Asian US dollar bond market: China`s new
... Mainland Chinese issuers’ share of new issuance has also experienced enormous growth since 2010. China’s market share of the primary market jumped from 17% in 2010 to 60% as of the end of 2016 (Figure 2). Excluding new issuance for refinancing purposes, mainland China’s share in net new supply was e ...
... Mainland Chinese issuers’ share of new issuance has also experienced enormous growth since 2010. China’s market share of the primary market jumped from 17% in 2010 to 60% as of the end of 2016 (Figure 2). Excluding new issuance for refinancing purposes, mainland China’s share in net new supply was e ...
Regional Economic Outlook: Asia Pacific
... Following robust growth in the first half of 2016, the near-term outlook for Asia remains strong. Accommodative policies and a recent easing of financial conditions will underpin domestic demand, offsetting weak export growth. GDP growth is forecast to be broadly stable at 5.4 percent in 2016 and 5. ...
... Following robust growth in the first half of 2016, the near-term outlook for Asia remains strong. Accommodative policies and a recent easing of financial conditions will underpin domestic demand, offsetting weak export growth. GDP growth is forecast to be broadly stable at 5.4 percent in 2016 and 5. ...
The Role of Confidence
... bubble of the late 1990s. In both instances the “era of well-being” was followed by a significant economic slowdown and market decline. A feel-good environment characterized by strong confidence creates pleasant current conditions but encourages dangerous behavior and an ascent (in the economy and t ...
... bubble of the late 1990s. In both instances the “era of well-being” was followed by a significant economic slowdown and market decline. A feel-good environment characterized by strong confidence creates pleasant current conditions but encourages dangerous behavior and an ascent (in the economy and t ...
this PDF file - UP School of Economics
... dollar. China has a special position in the world economy’s adjustment. Through its aggressive growth policies based on an undervalued exchange rate, it succeeded in recent decades to accumulate the largest amount of international reserves at a time when most of the developed countries were incurrin ...
... dollar. China has a special position in the world economy’s adjustment. Through its aggressive growth policies based on an undervalued exchange rate, it succeeded in recent decades to accumulate the largest amount of international reserves at a time when most of the developed countries were incurrin ...
The importance of communication in excellent crisis management
... university in the Untied States, unfortunately, had an almost opposite level of autonomy. The university’s director of public information required her staff to funnel all requests for information to her. The enormous number of requests, not surprisingly, prevented one person from releasing informati ...
... university in the Untied States, unfortunately, had an almost opposite level of autonomy. The university’s director of public information required her staff to funnel all requests for information to her. The enormous number of requests, not surprisingly, prevented one person from releasing informati ...
Working Paper No. 493 China`s Exchange Rate and Financial
... continue, the world (outside of Europe) is still on a dollar standard [McKinnon 2013]. In East Asia, international trade—including the burgeoning intra-industry trade within the region—is mainly invoiced in dollars. The dollar remains the dominant means of settlement for international payments among ...
... continue, the world (outside of Europe) is still on a dollar standard [McKinnon 2013]. In East Asia, international trade—including the burgeoning intra-industry trade within the region—is mainly invoiced in dollars. The dollar remains the dominant means of settlement for international payments among ...
Currency Shake-up ´97 : A Case Study of the Czech Economy
... The last decade of the departing 20th century will enter the history of the world economy as a period of increased instability of financial markets, a widespread incidence of monetary crises even collapses of national economies. Observers or analysts may find fascinating the truly global nature of t ...
... The last decade of the departing 20th century will enter the history of the world economy as a period of increased instability of financial markets, a widespread incidence of monetary crises even collapses of national economies. Observers or analysts may find fascinating the truly global nature of t ...
Causes, Effects and Regulatory Implications of Financial and
... issues concentrate on two broad areas, namely macroeconomic effects, which seemed to have a major impact on the confidence in market fundamentals, and effects on the markets themselves. Clearly, there may be instances in which it is not so easy to delineate between certain causes and effects, given ...
... issues concentrate on two broad areas, namely macroeconomic effects, which seemed to have a major impact on the confidence in market fundamentals, and effects on the markets themselves. Clearly, there may be instances in which it is not so easy to delineate between certain causes and effects, given ...
Exchange Rate Regime, Financial Market Bubbles and
... virtuous in the sense that they have large savings surpluses over investment (i.e. current account surpluses) get inflicted by trade and exchange rate conflicts. The natural currency habitat of domestic nationals – households, enterprises and financial institutions – is in their national currency. B ...
... virtuous in the sense that they have large savings surpluses over investment (i.e. current account surpluses) get inflicted by trade and exchange rate conflicts. The natural currency habitat of domestic nationals – households, enterprises and financial institutions – is in their national currency. B ...
1997 Asian financial crisis
The Asian financial crisis was a period of financial crisis that gripped much of East Asia beginning in July 1997 and raised fears of a worldwide economic meltdown due to financial contagion.The crisis started in Thailand (well known in Thailand as the Tom Yum Goong crisis; Thai: วิกฤตต้มยำกุ้ง) with the financial collapse of the Thai baht after the Thai government was forced to float the baht due to lack of foreign currency to support its fixed exchange rate, cutting its peg to the U.S. dollar, after exhaustive efforts to support it in the face of a severe financial over-extension that was in part real estate driven. At the time, Thailand had acquired a burden of foreign debt that made the country effectively bankrupt even before the collapse of its currency. As the crisis spread, most of Southeast Asia and Japan saw slumping currencies, devalued stock markets and other asset prices, and a precipitous rise in private debt.Indonesia, South Korea and Thailand were the countries most affected by the crisis. Hong Kong, Laos, Malaysia and the Philippines were also hurt by the slump. Brunei, China, Singapore, Taiwan and Vietnam were less affected, although all suffered from a loss of demand and confidence throughout the region.Foreign debt-to-GDP ratios rose from 100% to 167% in the four large Association of Southeast Asian Nations (ASEAN) economies in 1993–96, then shot up beyond 180% during the worst of the crisis. In South Korea, the ratios rose from 13 to 21% and then as high as 40%, while the other northern newly industrialized countries fared much better. Only in Thailand and South Korea did debt service-to-exports ratios rise.Although most of the governments of Asia had seemingly sound fiscal policies, the International Monetary Fund (IMF) stepped in to initiate a $40 billion program to stabilize the currencies of South Korea, Thailand, and Indonesia, economies particularly hard hit by the crisis. The efforts to stem a global economic crisis did little to stabilize the domestic situation in Indonesia, however. After 30 years in power, President Suharto was forced to step down on 21 May 1998 in the wake of widespread rioting that followed sharp price increases caused by a drastic devaluation of the rupiah. The effects of the crisis lingered through 1998. In 1998 the Philippines growth dropped to virtually zero. Only Singapore and Taiwan proved relatively insulated from the shock, but both suffered serious hits in passing, the former more so due to its size and geographical location between Malaysia and Indonesia. By 1999, however, analysts saw signs that the economies of Asia were beginning to recover. After the 1997 Asian Financial Crisis, economies in the region are working toward financial stability on financial supervision.Until 1999, Asia attracted almost half of the total capital inflow into developing countries. The economies of Southeast Asia in particular maintained high interest rates attractive to foreign investors looking for a high rate of return. As a result, the region's economies received a large inflow of money and experienced a dramatic run-up in asset prices. At the same time, the regional economies of Thailand, Malaysia, Indonesia, Singapore, and South Korea experienced high growth rates, 8–12% GDP, in the late 1980s and early 1993. This achievement was widely acclaimed by financial institutions including IMF and World Bank, and was known as part of the ""Asian economic miracle"".