Video transcript
... went in negative territory. There are more of them. Sweden, Denmark-- Japan is in the picture. And it's an increasing group of countries. The problem is that low interest rates are in themselves quite harmful for the economy. And for negative interest rates, that becomes even worse. They undermine t ...
... went in negative territory. There are more of them. Sweden, Denmark-- Japan is in the picture. And it's an increasing group of countries. The problem is that low interest rates are in themselves quite harmful for the economy. And for negative interest rates, that becomes even worse. They undermine t ...
Lessons from Asian Financial Experience 1. Introduction Anne O. Krueger
... growth accelerated rapidly.3 By the late 1980s, Japan’s economic prowess as a high-income industrial country was recognized globally. The four “Asian tigers” (Hong Kong, Singapore, South Korea, and Taiwan), as they came to be called, had sustained unheard-of rapid growth rates, even higher than Japa ...
... growth accelerated rapidly.3 By the late 1980s, Japan’s economic prowess as a high-income industrial country was recognized globally. The four “Asian tigers” (Hong Kong, Singapore, South Korea, and Taiwan), as they came to be called, had sustained unheard-of rapid growth rates, even higher than Japa ...
Asian Bonds Still Sitting Pretty - March 2013
... the sovereign rating upgrades of Indonesia and South Korea. In 2013, the scope for further policy cuts by Asian central banks seems limited given Asia’s moderate growth outlook and the recent stabilization in economic indicators in the US and China. But we expect some rating upgrades to underpin ret ...
... the sovereign rating upgrades of Indonesia and South Korea. In 2013, the scope for further policy cuts by Asian central banks seems limited given Asia’s moderate growth outlook and the recent stabilization in economic indicators in the US and China. But we expect some rating upgrades to underpin ret ...
LESSONS FROM ASIAN FINANCIAL EXPERIENCE
... be reasonably evident (as it was in Korea in the 1960s) which activities (unskilled labor-intensive exports in Korea’s case) should be financed. But to move beyond the constraints of family finance requires the ability of promising enterprises to finance investments in addition to those that can be ...
... be reasonably evident (as it was in Korea in the 1960s) which activities (unskilled labor-intensive exports in Korea’s case) should be financed. But to move beyond the constraints of family finance requires the ability of promising enterprises to finance investments in addition to those that can be ...
G20 정상회의와 금융산업정책 방향
... minster, claimed that a currency war had begun between the developed economies and the developing economies In particular, the use of QE is very controversial Other things being equal, the increase in money supply that QE brings should make the currency worth less and thus lower the exchange rat ...
... minster, claimed that a currency war had begun between the developed economies and the developing economies In particular, the use of QE is very controversial Other things being equal, the increase in money supply that QE brings should make the currency worth less and thus lower the exchange rat ...
IOSR Journal of Economics and Finance (IOSR-JEF)
... Countries (OAPEC) onan oil embargowhich led to the increase in the cost of oil from $3 per barrel to around $12 per barrel. The oil crisis had many short and long term impacts on both the international politics and economy. After the crisis, OPEC stressed oil companies to raise their payment, and in ...
... Countries (OAPEC) onan oil embargowhich led to the increase in the cost of oil from $3 per barrel to around $12 per barrel. The oil crisis had many short and long term impacts on both the international politics and economy. After the crisis, OPEC stressed oil companies to raise their payment, and in ...
Financial Reform and Vulnerability:How to Open but Remain Safe?
... liquidity or cut lending abruptly. May entail a recession and a rise in default rates. Interest rates in the United States (in %) ...
... liquidity or cut lending abruptly. May entail a recession and a rise in default rates. Interest rates in the United States (in %) ...
Impact of Financial Crisis in Mozambique
... Is there a risk that the bankruptcy of banks in the USA and liquidity constraints in the European banks may be reproduced in the Mozambican banking sector? It is very unlikely that the same escalating effect of bankruptcy and liquidity crisis will occur in the Mozambican banking system. According to ...
... Is there a risk that the bankruptcy of banks in the USA and liquidity constraints in the European banks may be reproduced in the Mozambican banking sector? It is very unlikely that the same escalating effect of bankruptcy and liquidity crisis will occur in the Mozambican banking system. According to ...
Impact of Financial Crisis in Mozambique
... Is there a risk that the bankruptcy of banks in the USA and liquidity constraints in the European banks may be reproduced in the Mozambican banking sector? It is very unlikely that the same escalating effect of bankruptcy and liquidity crisis will occur in the Mozambican banking system. According to ...
... Is there a risk that the bankruptcy of banks in the USA and liquidity constraints in the European banks may be reproduced in the Mozambican banking sector? It is very unlikely that the same escalating effect of bankruptcy and liquidity crisis will occur in the Mozambican banking system. According to ...
FRBSF E L CONOMIC ETTER
... increasing public credit and by encouraging commercial banks to increase credit to private firms and domestic consumers. One such program in South Korea involved giving tax breaks for consumers for payments by credit cards. The result: between 1999 and 2002, the number of credit cards doubled to fou ...
... increasing public credit and by encouraging commercial banks to increase credit to private firms and domestic consumers. One such program in South Korea involved giving tax breaks for consumers for payments by credit cards. The result: between 1999 and 2002, the number of credit cards doubled to fou ...
Investors Cast Wary Eye on Fed Rate Increases
... expectations for a rate increase are being aggressively reduced in the currency market, and that is being priced into the dollar.” Wednesday’s decline followed weak data from the U.S. service sector and dovish comments from a Fed official. Some investors now believe that rate increases may come at ...
... expectations for a rate increase are being aggressively reduced in the currency market, and that is being priced into the dollar.” Wednesday’s decline followed weak data from the U.S. service sector and dovish comments from a Fed official. Some investors now believe that rate increases may come at ...
Global Tensions and Economic Security -
... • Situation changed in May 2013 when U.S. Federal reserve indicated it might taper its purchase of long-term assets • Asset prices shifted and in emerging economies • Capital rushed out, • Caused credit markets to tighten and • Exchange rates to fall ...
... • Situation changed in May 2013 when U.S. Federal reserve indicated it might taper its purchase of long-term assets • Asset prices shifted and in emerging economies • Capital rushed out, • Caused credit markets to tighten and • Exchange rates to fall ...
increases the asymmetric information
... (spread) in interest rates relative to US interest rates. 3. Domestic banks get into trouble because of currency mismatch on their own and/or their domestic clients’ balance sheets →the quality of financial intermediation may deteriorate. ...
... (spread) in interest rates relative to US interest rates. 3. Domestic banks get into trouble because of currency mismatch on their own and/or their domestic clients’ balance sheets →the quality of financial intermediation may deteriorate. ...
Accessing the Asia real-estate story
... Yue: Developers with large landbanks and moderate leverage were under pressure as they had undergone a cash squeeze. But they are now back out buying land again, and building landbanks. Many were saved by the slush of bank liquidity which came along with the stimulus packages that hit the markets. S ...
... Yue: Developers with large landbanks and moderate leverage were under pressure as they had undergone a cash squeeze. But they are now back out buying land again, and building landbanks. Many were saved by the slush of bank liquidity which came along with the stimulus packages that hit the markets. S ...
Aalborg Universitet
... 2, 9220 Aalborg East, Denmark. Tel. +45 96358404, Fax. +45 98153298, Email. [email protected], Website. www.ihis.aau.dk/development ...
... 2, 9220 Aalborg East, Denmark. Tel. +45 96358404, Fax. +45 98153298, Email. [email protected], Website. www.ihis.aau.dk/development ...
Asian Economic Overview
... Key ingredients of Asian growth model remain – Young population in South East Asia and China – Entrepreneurial environment in many countries – High savings rate – Emphasis on education and openness to trade – Increasing urbanisation Legacy will be more prudent, market driven capital allocation ...
... Key ingredients of Asian growth model remain – Young population in South East Asia and China – Entrepreneurial environment in many countries – High savings rate – Emphasis on education and openness to trade – Increasing urbanisation Legacy will be more prudent, market driven capital allocation ...
Policy Response to Overcome Crisis: A Lesson from Indonesian Case
... floating exchange rate system on 14th August 1997. In an unstable condition, free float policy had made rupiah weaker and triggered capital outflow. As a result, business sectors got double hit on the face, i.e.: rupiah depreciation and a very high interest rate. ...
... floating exchange rate system on 14th August 1997. In an unstable condition, free float policy had made rupiah weaker and triggered capital outflow. As a result, business sectors got double hit on the face, i.e.: rupiah depreciation and a very high interest rate. ...
Devastating impact on South of looming financial crisis
... currency due to diversification, would entail large costs as the value of these assets falls and dollar interest rates rise, leading to a slowdown of the US economy and a decline in worldwide global economic activity. This in turn could trigger pervasive beggar-thy-neighbour policy responses includi ...
... currency due to diversification, would entail large costs as the value of these assets falls and dollar interest rates rise, leading to a slowdown of the US economy and a decline in worldwide global economic activity. This in turn could trigger pervasive beggar-thy-neighbour policy responses includi ...
Devastating impact on South of looming financial crisis
... currency due to diversification, would entail large costs as the value of these assets falls and dollar interest rates rise, leading to a slowdown of the US economy and a decline in worldwide global economic activity. This in turn could trigger pervasive beggar-thy-neighbour policy responses includi ...
... currency due to diversification, would entail large costs as the value of these assets falls and dollar interest rates rise, leading to a slowdown of the US economy and a decline in worldwide global economic activity. This in turn could trigger pervasive beggar-thy-neighbour policy responses includi ...
Paper Project 1: What Were the Causes and Consequences of
... Panic of 1866 or the Overend Gurney crisis (United Kingdom, Europe) Panic of 1873 or the Long Depression (United States, Europe) Panic of 1884 (United States, Europe) Panic of 1890 (United Kingdom, Argentina) Panic of 1893 (United States) Banking crisis of 1893 (Australia) Panic of 1896 (United Stat ...
... Panic of 1866 or the Overend Gurney crisis (United Kingdom, Europe) Panic of 1873 or the Long Depression (United States, Europe) Panic of 1884 (United States, Europe) Panic of 1890 (United Kingdom, Argentina) Panic of 1893 (United States) Banking crisis of 1893 (Australia) Panic of 1896 (United Stat ...
Spillovers of Quantitative Easing on Asia
... The Global Financial Crisis (GFC) triggered unprecedented policy interventions in the crisis-affected advanced economies. Major central banks reduced policy interest rates to close to zero and implemented unconventional monetary policies such as massive injections of liquidity through quantitative e ...
... The Global Financial Crisis (GFC) triggered unprecedented policy interventions in the crisis-affected advanced economies. Major central banks reduced policy interest rates to close to zero and implemented unconventional monetary policies such as massive injections of liquidity through quantitative e ...
Introduction - Brookings Institution
... ratio of external debt to GDP in 2004 stood above the level of the mid1990s. Borrowing from the World Bank and the IMF by Latin American governments is one factor contributing to this difference in external debt patterns. Other factors include an apparent increase in the risk tolerance of investors, ...
... ratio of external debt to GDP in 2004 stood above the level of the mid1990s. Borrowing from the World Bank and the IMF by Latin American governments is one factor contributing to this difference in external debt patterns. Other factors include an apparent increase in the risk tolerance of investors, ...
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... management gradually disappeared and the growth rate became dependent on predominantly autonomous capital movements and, once again, the response of (or autonomous changes in) the behaviour of households and firms. The new linkages were: capital inflows ⇒ GDP growth⇒current deficits. GDP growth beca ...
... management gradually disappeared and the growth rate became dependent on predominantly autonomous capital movements and, once again, the response of (or autonomous changes in) the behaviour of households and firms. The new linkages were: capital inflows ⇒ GDP growth⇒current deficits. GDP growth beca ...
What caused the eurozone crisis?
... The feedback mechanisms between weak sovereigns, banks and the economy still exist. This is what we wrote in June 2010: The Eurozone ‘ship’ is holed below the waterline. The ECB actions are keeping it afloat for now, but this is accomplished by something akin to bailing the water as fast as it leaks ...
... The feedback mechanisms between weak sovereigns, banks and the economy still exist. This is what we wrote in June 2010: The Eurozone ‘ship’ is holed below the waterline. The ECB actions are keeping it afloat for now, but this is accomplished by something akin to bailing the water as fast as it leaks ...
Seminar—Where is Global Finance Heading? Status of the
... years and are the largest holder of international reserves. Yet their currencies are not being used internationally. This imbalance between economic and political and monetary proliferation risks being inherently unstable. Emerging markets will therefore naturally be at the heart of any reform effor ...
... years and are the largest holder of international reserves. Yet their currencies are not being used internationally. This imbalance between economic and political and monetary proliferation risks being inherently unstable. Emerging markets will therefore naturally be at the heart of any reform effor ...
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"".