A dynamic ARDL model
... the McKinnon-Shaw hypothesis were Van Wijnbergen (1983) and Taylor (1983). Van Wijnbergen’s (1983) hypothesis contrasted those of McKinnon (1973) and Kapur (1976). Van Wijnbergen expressed the view that McKinnon’s and Kapur’s results depend crucially on one implicit as- ...
... the McKinnon-Shaw hypothesis were Van Wijnbergen (1983) and Taylor (1983). Van Wijnbergen’s (1983) hypothesis contrasted those of McKinnon (1973) and Kapur (1976). Van Wijnbergen expressed the view that McKinnon’s and Kapur’s results depend crucially on one implicit as- ...
Crisis Response Policies in Russia, Ukraine, Kazakhstan and Belarus
... These booms partly embodied the swift expansion of foreign exchange (mostly U.S. dollar)-denominated loans, which attained 45% to 50% of total loans (before the crisis) in Ukraine and Kazakhstan. Foreign currency-denominated lending to unhedged borrowers (notably households) has been pronounced in a ...
... These booms partly embodied the swift expansion of foreign exchange (mostly U.S. dollar)-denominated loans, which attained 45% to 50% of total loans (before the crisis) in Ukraine and Kazakhstan. Foreign currency-denominated lending to unhedged borrowers (notably households) has been pronounced in a ...
2. Fiscal Decentralization
... … But, Underutilized Revenue Capacity SNG Revenue Potential in the Six Countries % Potential increase with same tax/fee rate/regulations ...
... … But, Underutilized Revenue Capacity SNG Revenue Potential in the Six Countries % Potential increase with same tax/fee rate/regulations ...
The Globalization of Markets
... early 1990s, the U.S. Library of Congress catalog listed less than 50 publications per year related to globalization – from 2002 to 2008 there were more than 1100 every year.3 Their popularity notwithstanding, such works were seldom grounded in broad-based and rigorous examinations of the relevant d ...
... early 1990s, the U.S. Library of Congress catalog listed less than 50 publications per year related to globalization – from 2002 to 2008 there were more than 1100 every year.3 Their popularity notwithstanding, such works were seldom grounded in broad-based and rigorous examinations of the relevant d ...
Has austerity gone too far?
... correlation between public and private borrowing costs actually tends to become stronger during crises. Perhaps in a crisis period high correlation is simply the by-product of common recessionary shocks, affecting simultaneously but independently the balance sheets of the government and private ...
... correlation between public and private borrowing costs actually tends to become stronger during crises. Perhaps in a crisis period high correlation is simply the by-product of common recessionary shocks, affecting simultaneously but independently the balance sheets of the government and private ...
The Economics of Natural Disasters
... thing is already clear, however: the cost of rebuilding will exceed what any one agency or country can reasonably contribute—least of all Haiti itself, which before the tragedy was already the poorest country in the Western Hemisphere. Begin with the loss to human life: the latest estimates indicate ...
... thing is already clear, however: the cost of rebuilding will exceed what any one agency or country can reasonably contribute—least of all Haiti itself, which before the tragedy was already the poorest country in the Western Hemisphere. Begin with the loss to human life: the latest estimates indicate ...
Mystery - World Bank Group
... respectively. The information below shows the difficulty in accurately predicting even the current year macro economic indicators, which may influence the decision on lending. Table 1 and figure 1 show that the predicted GDP growth is consistently higher than the realized ones. Table 2 and figure 2 ...
... respectively. The information below shows the difficulty in accurately predicting even the current year macro economic indicators, which may influence the decision on lending. Table 1 and figure 1 show that the predicted GDP growth is consistently higher than the realized ones. Table 2 and figure 2 ...
Are advanced economies at risk of falling into debt traps?
... One of the consequences of the global financial crisis has been rapid growth in public debt in most advanced economies1. This is the result of overoptimistic estimates of the fiscal situation before the crisis, declining government revenues and increasing social expenditure during the crisis, combin ...
... One of the consequences of the global financial crisis has been rapid growth in public debt in most advanced economies1. This is the result of overoptimistic estimates of the fiscal situation before the crisis, declining government revenues and increasing social expenditure during the crisis, combin ...
Fiscal Policy, Government Institutions, and Sovereign Creditworthiness
... expansion, presumably because these regimes are often associated with a larger government and broader transfer programs. This finding is also consistent with the view that the majority-rule countries tend to have what is called pork barrel spending in the United States, which is spending targeted to ...
... expansion, presumably because these regimes are often associated with a larger government and broader transfer programs. This finding is also consistent with the view that the majority-rule countries tend to have what is called pork barrel spending in the United States, which is spending targeted to ...
Downloaded
... trade/GDP ratios from the category of more globalized countries is to underestimate the category of high globalizers with low economic growth. An exaggeration of the relationship between high growth and growing openness also occurs when one critically examines the evidence for China and India. Contr ...
... trade/GDP ratios from the category of more globalized countries is to underestimate the category of high globalizers with low economic growth. An exaggeration of the relationship between high growth and growing openness also occurs when one critically examines the evidence for China and India. Contr ...
Lessons from Reforms in Central and Eastern Europe in the Wake of
... according to EBRD (2011). Economic growth has been substantial in the whole region, with the late reformers catching up in the 2000s. In 2008, several of the ten CEE countries were in a state of severe overheating. This was especially true of the three Baltic countries, Estonia, Latvia, and Lithuani ...
... according to EBRD (2011). Economic growth has been substantial in the whole region, with the late reformers catching up in the 2000s. In 2008, several of the ten CEE countries were in a state of severe overheating. This was especially true of the three Baltic countries, Estonia, Latvia, and Lithuani ...
Chapter 19: Developing Countries
... The problems of the developing countries have not gone unnoticed by the more successful countries of the world. Two agencies, in particular, work directly with developing nations to solve their problems. The International Monetary Fund (IMF) offers advice to all nations on monetary and fiscal polici ...
... The problems of the developing countries have not gone unnoticed by the more successful countries of the world. Two agencies, in particular, work directly with developing nations to solve their problems. The International Monetary Fund (IMF) offers advice to all nations on monetary and fiscal polici ...
Document
... Removal of excessive bad loans to increase the franchise value of banks. Proposed sequence of reform: Liberalization of foreign direct investment and trade finance should come first. Fiscal consolidation is the most important next step for two reasons: It is needed to do without revenues fro ...
... Removal of excessive bad loans to increase the franchise value of banks. Proposed sequence of reform: Liberalization of foreign direct investment and trade finance should come first. Fiscal consolidation is the most important next step for two reasons: It is needed to do without revenues fro ...
9. THE POLITICAL TRILEMMA OF THE WORLD ECONOMY In 1990
... Can You Save an Economy by Tying It to the Mast of Globalization? Domingo Cavallo thought he knew the real problem. For too long, Argentina’s governments had changed the rules of the game whenever it suited them. Too much governmental discretion had resulted in a complete loss of confidence in Argen ...
... Can You Save an Economy by Tying It to the Mast of Globalization? Domingo Cavallo thought he knew the real problem. For too long, Argentina’s governments had changed the rules of the game whenever it suited them. Too much governmental discretion had resulted in a complete loss of confidence in Argen ...
National Asset-Liability Management Europe Symposium
... 1997 and Russia in 1998. The insufficient volume of external safety nets as well as the underdeveloped nature of financial markets in EMEs made financial crises unavoidable. In addition, inability to implement countercyclical policies made EMEs suffer from larger damaging effects of financial crise ...
... 1997 and Russia in 1998. The insufficient volume of external safety nets as well as the underdeveloped nature of financial markets in EMEs made financial crises unavoidable. In addition, inability to implement countercyclical policies made EMEs suffer from larger damaging effects of financial crise ...
Advances in Environmental Biology
... Financial markets have a key role in mobilizing and channeling funds in the economy in the industrial sector and consequently improve the economic growth. According to some perspectives of economics, the development of financial markets is the actuator motor of economic growth in countries. Accordin ...
... Financial markets have a key role in mobilizing and channeling funds in the economy in the industrial sector and consequently improve the economic growth. According to some perspectives of economics, the development of financial markets is the actuator motor of economic growth in countries. Accordin ...
Are emerging markets still built on the BRICS?
... eventually demonstrate a measure of cohesion based on common interests, it has not yet occurred in a serious way. The countries quarrel among themselves as much as they take issue with more developed market countries. Perhaps it would be most useful for investors to consider the BRICS as something l ...
... eventually demonstrate a measure of cohesion based on common interests, it has not yet occurred in a serious way. The countries quarrel among themselves as much as they take issue with more developed market countries. Perhaps it would be most useful for investors to consider the BRICS as something l ...
Overview: Global Economic Developments and Ghana`s Economic
... and in the EU, well above the pre-crisis level of 5.8% in 2007 (ILO, 2015). ILO (2015) projects the incidence of vulnerable employment in emerging and developing countries to be around 45% of total employment, from 2015 to 2017. It also reports that one-half of the world’s vulnerable employment is a ...
... and in the EU, well above the pre-crisis level of 5.8% in 2007 (ILO, 2015). ILO (2015) projects the incidence of vulnerable employment in emerging and developing countries to be around 45% of total employment, from 2015 to 2017. It also reports that one-half of the world’s vulnerable employment is a ...
Macroeconomic Consolidation: Achievements
... with the foreign factor, particularly International Monetary Fund and World Bank, the application of this package was constrained from the real conditions of our country, including the starting point and other factors related to politics, transition strategy, etc. ...
... with the foreign factor, particularly International Monetary Fund and World Bank, the application of this package was constrained from the real conditions of our country, including the starting point and other factors related to politics, transition strategy, etc. ...
CWPE1618 - Faculty of Economics
... of China as a global force in the world economy in recent decades, any slowdown and change in the composition of its real GDP growth can bring about signi…cant spillovers to other systemic economies, and its trading partners, including those in the Asia and Paci…c region, as well as emerging market ...
... of China as a global force in the world economy in recent decades, any slowdown and change in the composition of its real GDP growth can bring about signi…cant spillovers to other systemic economies, and its trading partners, including those in the Asia and Paci…c region, as well as emerging market ...
The Globalization Rorschach Test
... though trade has grown more quickly in recent years in America? But this argument can be reversed: globalization is a process, not a steady state phenomenon. From this perspective, open economies such as Belgium and the Netherlands, which have been dealing with the effects of international markets f ...
... though trade has grown more quickly in recent years in America? But this argument can be reversed: globalization is a process, not a steady state phenomenon. From this perspective, open economies such as Belgium and the Netherlands, which have been dealing with the effects of international markets f ...
IMF Structural Adjustment Programs: Concepts, Design, Critique
... Post-Washington Consensus From liberal international economic order to market-friendly approach to development – Shift on values related to sustainable human development – Return to development strategies with long-term perspectives and holistic approaches respecting historical specificity – Preser ...
... Post-Washington Consensus From liberal international economic order to market-friendly approach to development – Shift on values related to sustainable human development – Return to development strategies with long-term perspectives and holistic approaches respecting historical specificity – Preser ...
Mr.Ralston Hyman
... community that a country is an investment risk because it is either unwilling or unable to repay its debts. This contributes to the cutting-off of these countries from the international capital markets, unless they are willing to pay extremely high rates. ...
... community that a country is an investment risk because it is either unwilling or unable to repay its debts. This contributes to the cutting-off of these countries from the international capital markets, unless they are willing to pay extremely high rates. ...