From Capital Control to Capital`s Control : Political Economy of
... capital flows are apt to destabilize economies, neoclassicals also point to the importance of several preconditions for capital account liberalization (Mckinnon, 1991; Williamson, 1993). So there is some consensus about capital account liberalization including the preconditions and sequence for that ...
... capital flows are apt to destabilize economies, neoclassicals also point to the importance of several preconditions for capital account liberalization (Mckinnon, 1991; Williamson, 1993). So there is some consensus about capital account liberalization including the preconditions and sequence for that ...
research paper series Research Paper 2011/01
... markets with frictions there will be financially constrained agents who although they own profitable projects they are unable to finance them. At the economy level the implications of these constraints can be too important to be ignored. Potentially they can influence comparative advantage and there ...
... markets with frictions there will be financially constrained agents who although they own profitable projects they are unable to finance them. At the economy level the implications of these constraints can be too important to be ignored. Potentially they can influence comparative advantage and there ...
Going South: capitalist crisis, systemic crisis, civilisational
... financial and stock markets to the reign of ‘fear’; from the ideological dominance of Anglo-Saxon ‘laissez-faire’ market capitalism to the return to legitimacy and practice of ‘managed capitalism’ and state intervention; from a wave of privatisations to a wave of (partial) re-nationalisations; from d ...
... financial and stock markets to the reign of ‘fear’; from the ideological dominance of Anglo-Saxon ‘laissez-faire’ market capitalism to the return to legitimacy and practice of ‘managed capitalism’ and state intervention; from a wave of privatisations to a wave of (partial) re-nationalisations; from d ...
An Empirical and Theoretical Analysis of the New Imperialism
... increasing quantity, scale, and speed of social interactions, but also characterization of globalization as a general phenomenon. If, for example, one considers world religions, the Roman empire, the empire of Han China, the British Empire, the world market, colonialism, migration flows that resulte ...
... increasing quantity, scale, and speed of social interactions, but also characterization of globalization as a general phenomenon. If, for example, one considers world religions, the Roman empire, the empire of Han China, the British Empire, the world market, colonialism, migration flows that resulte ...
Markets, Institutions and Technology: Missing Links in Livelihoods
... failures will fail unless investors have confidence that all the failures in other markets are addressed at the same time, in ways that will not make them hostages to opportunistic behaviour by other economic agents or by state agencies (see Dorward and Kydd, 2002 for a more detailed explanation of ...
... failures will fail unless investors have confidence that all the failures in other markets are addressed at the same time, in ways that will not make them hostages to opportunistic behaviour by other economic agents or by state agencies (see Dorward and Kydd, 2002 for a more detailed explanation of ...
1997. Paradigms of Development: The East Asian Debate. Oxford
... fastest rates in the world and succeeded in transforming the industrial structure with a relatively equitable income distribution. But the economic crisis of 1997 jeopardized the success of the Korean economy and made this miracle seem a mirage. In late 1997, the currency was depreciated to half of ...
... fastest rates in the world and succeeded in transforming the industrial structure with a relatively equitable income distribution. But the economic crisis of 1997 jeopardized the success of the Korean economy and made this miracle seem a mirage. In late 1997, the currency was depreciated to half of ...
FREE Sample Here
... ■ Two mega trends are underscored that have altered the international business landscape: the globalization of markets or economies and technological advances. ■ Market globalization is a broad term referring to the interconnectedness of national economies and the growing interdependence of buyers, ...
... ■ Two mega trends are underscored that have altered the international business landscape: the globalization of markets or economies and technological advances. ■ Market globalization is a broad term referring to the interconnectedness of national economies and the growing interdependence of buyers, ...
Government Budget Deficits and the Development of the Bond
... the observed political business cycle—that politicians follow expansionary policies in election years. Supporting this argument is the tendency of Keynesian stabilization policies to be followed asymmetrically: politicians are more inclined to run deficits in recessions, but not as inclined to run s ...
... the observed political business cycle—that politicians follow expansionary policies in election years. Supporting this argument is the tendency of Keynesian stabilization policies to be followed asymmetrically: politicians are more inclined to run deficits in recessions, but not as inclined to run s ...
WORLD ECONOMIC OUTLOOK, September 2003--Chapter 1
... stressed at the time of the last World Economic Outlook, the recent weakness of the world economy has not just been due to the war. The equity boom in the late 1990s was the largest in modern history: the unwinding of its effects is uncharted territory, and it is perhaps not surprising that most obs ...
... stressed at the time of the last World Economic Outlook, the recent weakness of the world economy has not just been due to the war. The equity boom in the late 1990s was the largest in modern history: the unwinding of its effects is uncharted territory, and it is perhaps not surprising that most obs ...
Globalization
... the benefits of globalization have not been shared equally. Supporters of free trade suggest that the actions of governments have made limited economic improvement in many countries. Slides 1-43-1-44 Managing in the Global Marketplace Managing an international business (any firm that engages in inte ...
... the benefits of globalization have not been shared equally. Supporters of free trade suggest that the actions of governments have made limited economic improvement in many countries. Slides 1-43-1-44 Managing in the Global Marketplace Managing an international business (any firm that engages in inte ...
Tentative Lessons from Recent Capital Account Crises
... Output growth is more likely to be adversely affected by high interest rates and a drying up of financing, especially to the private sector. Fiscal tightening may, on balance, have a positive net effect on output, particularly if it improves market confidence, reduces interest rates, and helps resto ...
... Output growth is more likely to be adversely affected by high interest rates and a drying up of financing, especially to the private sector. Fiscal tightening may, on balance, have a positive net effect on output, particularly if it improves market confidence, reduces interest rates, and helps resto ...
The Development of Local Capital Markets: Rationale and
... Over the past decades, many countries have implemented significant reforms to foster domestic capital market development. Such reforms were often preceded by or part of broader reform agendas to develop financial systems and make them more integrated with the global market, including the removal of ...
... Over the past decades, many countries have implemented significant reforms to foster domestic capital market development. Such reforms were often preceded by or part of broader reform agendas to develop financial systems and make them more integrated with the global market, including the removal of ...
IMF Country Report No. 15/350
... In response to these vulnerabilities, the authorities identified fiscal policy as a key factor for stabilization and growth. In the design of their strategy, there are several areas that merit greater focus: (i) investing in infrastructure and human capital; (ii) increasing resilience to shocks, not ...
... In response to these vulnerabilities, the authorities identified fiscal policy as a key factor for stabilization and growth. In the design of their strategy, there are several areas that merit greater focus: (i) investing in infrastructure and human capital; (ii) increasing resilience to shocks, not ...
Preview Sample 2
... ■ Trade bloc: A free-trade area established by two or more countries through multiple tax, tariff, and trade agreements, designed to reduce or eliminate barriers to cross-border trade and investment. ■ Examples- the North American Free Trade Agreement area (NAFTA), the Asia Pacific Economic Cooperat ...
... ■ Trade bloc: A free-trade area established by two or more countries through multiple tax, tariff, and trade agreements, designed to reduce or eliminate barriers to cross-border trade and investment. ■ Examples- the North American Free Trade Agreement area (NAFTA), the Asia Pacific Economic Cooperat ...
the paper in PDF format
... markets with frictions there will be financially constrained agents who although they own profitable projects they are unable to finance them. At the economy level the implications of these constraints can be too important to be ignored. Potentially they can influence comparative advantage and there ...
... markets with frictions there will be financially constrained agents who although they own profitable projects they are unable to finance them. At the economy level the implications of these constraints can be too important to be ignored. Potentially they can influence comparative advantage and there ...
Privatisation - Institute of Public Policy
... PPPs, PFI and Ryrie rules • PPPs fail VFM tests – UK Ryrie rules in 1980s were about VFM, scrapped because no PFI proposal ever passed them “(i) decisions to provide funds for investment should be taken under conditions of fair competition with private sector borrowers; any links with the rest of th ...
... PPPs, PFI and Ryrie rules • PPPs fail VFM tests – UK Ryrie rules in 1980s were about VFM, scrapped because no PFI proposal ever passed them “(i) decisions to provide funds for investment should be taken under conditions of fair competition with private sector borrowers; any links with the rest of th ...
Current Account Norms in Natural Resource Rich and Capital
... those of the IMF or IMF policy, or of DFID. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate. The permanent income hypothesis implies that frictionless open economies with exhaustible natural resources should save abroad most of ...
... those of the IMF or IMF policy, or of DFID. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate. The permanent income hypothesis implies that frictionless open economies with exhaustible natural resources should save abroad most of ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... some countries experienced growth of their domestic markets, this growth in most cases has not been as significant as the one witnessed by industrialized nations. Other countries experienced an actual deterioration of their capital markets. Stock markets in many developing countries have seen listin ...
... some countries experienced growth of their domestic markets, this growth in most cases has not been as significant as the one witnessed by industrialized nations. Other countries experienced an actual deterioration of their capital markets. Stock markets in many developing countries have seen listin ...
Post Crisis “Success” Stories?
... When the crisis hit Iceland and Latvia the response in the two countries was very different. In reality Iceland had no choice other than let its national currency depreciate sharply. The depreciation in nominal terms was about 50 percent. Limited fiscal space and insufficient reserves in the Central ...
... When the crisis hit Iceland and Latvia the response in the two countries was very different. In reality Iceland had no choice other than let its national currency depreciate sharply. The depreciation in nominal terms was about 50 percent. Limited fiscal space and insufficient reserves in the Central ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... Monetary Fund (IMF) and the other without. We find that the adjustment process was much sharper in the group of the crisis episodes with the IMF program compared to those without. That is, in the IMF-program countries, GDP growth rates start to fall precipitously even before the eruption of a crisis ...
... Monetary Fund (IMF) and the other without. We find that the adjustment process was much sharper in the group of the crisis episodes with the IMF program compared to those without. That is, in the IMF-program countries, GDP growth rates start to fall precipitously even before the eruption of a crisis ...
Rebalancing in the Euro Area and Cyclicality of Current
... suggests that current account deficits may return as output recovers unless internal rebalancing and reallocation of production from non-tradable to tradable sectors proceeds. In other words, more needs to be done to make the current account adjustments sustainable. Last, a simple forecasting exerci ...
... suggests that current account deficits may return as output recovers unless internal rebalancing and reallocation of production from non-tradable to tradable sectors proceeds. In other words, more needs to be done to make the current account adjustments sustainable. Last, a simple forecasting exerci ...
conference paper
... “public” and subject to interest group pressures (Willett 1999; see also Gowa 1988). Nevertheless, fiscal coordination does occur, so our first requirement is to define it. Drawing on Abbott et al (2000), we focus on two characteristics of agreements promoting fiscal coordination, specificity and de ...
... “public” and subject to interest group pressures (Willett 1999; see also Gowa 1988). Nevertheless, fiscal coordination does occur, so our first requirement is to define it. Drawing on Abbott et al (2000), we focus on two characteristics of agreements promoting fiscal coordination, specificity and de ...
Global outlook - the United Nations
... Economic Forecasting Model (WEFM) and is informed by country-specific economic outlooks provided by participants in Project LINK, a network of institutions and researchers supported by the Department of Economic and Social Affairs of the United Nations. The provisional individual country forecasts s ...
... Economic Forecasting Model (WEFM) and is informed by country-specific economic outlooks provided by participants in Project LINK, a network of institutions and researchers supported by the Department of Economic and Social Affairs of the United Nations. The provisional individual country forecasts s ...
Development and Globalization: Facts and Figures 2012
... We have witnessed a remarkable shift in economic trends over the past years. Issues such as current account imbalances, misaligned exchange rates, volatile capital flows and the financialization of commodity markets resulted in a severe crisis that affected all countries. As debate continues to rage ...
... We have witnessed a remarkable shift in economic trends over the past years. Issues such as current account imbalances, misaligned exchange rates, volatile capital flows and the financialization of commodity markets resulted in a severe crisis that affected all countries. As debate continues to rage ...