Financial System, Financial Liberalization and Crises : A tale of two
... mechanism either because of problems of coordination of small shareholders, and political and social constraints. The bottom line is the price in the stock market is usually determined by speculative ‘noise trade’ and so unstable that it could be harmful to investment in the real sector (Shleifer an ...
... mechanism either because of problems of coordination of small shareholders, and political and social constraints. The bottom line is the price in the stock market is usually determined by speculative ‘noise trade’ and so unstable that it could be harmful to investment in the real sector (Shleifer an ...
Chapter 19 - The Citadel
... Issues and Applications: Bogging Down Business in Brazil • Brazil’s legal system, which is based on a 245-article constitution that is among the world’s lengthiest, and includes a labor law containing 922 articles, is perhaps the most complicated in the Western Hemisphere. • This helps explain why ...
... Issues and Applications: Bogging Down Business in Brazil • Brazil’s legal system, which is based on a 245-article constitution that is among the world’s lengthiest, and includes a labor law containing 922 articles, is perhaps the most complicated in the Western Hemisphere. • This helps explain why ...
Document
... Lesson from history (that there are no lessons) • For the first time since the 1930s, the world is suffering from a persistent lack of adequate demand; people just aren’t spending enough to make use of the productive capacity we have. This was supposed to be a solved problem, one that may have bedev ...
... Lesson from history (that there are no lessons) • For the first time since the 1930s, the world is suffering from a persistent lack of adequate demand; people just aren’t spending enough to make use of the productive capacity we have. This was supposed to be a solved problem, one that may have bedev ...
Sample pages 2 PDF
... developed countries” (LDCs) increased their GERD by $400 million (PPP) in this period (UNESCO 2010b). Three most significant newcomers are China, Brazil, and India. Countries such as Iran, Turkey, and even Africa as a continent, have turned into substantial contributors to the worldwide R&D effort. ...
... developed countries” (LDCs) increased their GERD by $400 million (PPP) in this period (UNESCO 2010b). Three most significant newcomers are China, Brazil, and India. Countries such as Iran, Turkey, and even Africa as a continent, have turned into substantial contributors to the worldwide R&D effort. ...
The Impact of the Global Financial Crisis on Southeastern European
... openness, remittances and credit are all statistically significant. In addition, all the variables, except openness, affect growth positively. Openness has an inverse relationship with growth. Being more integrated resulted in significant effects of global crisis in Bulgaria. In the case of Croatia, ...
... openness, remittances and credit are all statistically significant. In addition, all the variables, except openness, affect growth positively. Openness has an inverse relationship with growth. Being more integrated resulted in significant effects of global crisis in Bulgaria. In the case of Croatia, ...
Maldives - the United Nations
... view of time lags in the production of pertinent data, information and analysis derived thereof, the conclusions presented here should be considered as preliminary and not necessarily indicative of future trends. In particular, recent political developmetns taking place in in Male, the capital islan ...
... view of time lags in the production of pertinent data, information and analysis derived thereof, the conclusions presented here should be considered as preliminary and not necessarily indicative of future trends. In particular, recent political developmetns taking place in in Male, the capital islan ...
Liquid assets, liquidity constraints and global imbalances
... has recognized that in a stochastic environment, current-account balance determination largely depends on the extent to which markets exist for insuring against shocks. In the case where insurance markets exist for all future contingencies, with outcome fully verifiable and contract fully enforceabl ...
... has recognized that in a stochastic environment, current-account balance determination largely depends on the extent to which markets exist for insuring against shocks. In the case where insurance markets exist for all future contingencies, with outcome fully verifiable and contract fully enforceabl ...
Chapter 5 - u.arizona.edu
... Irrespective of its favor with Chinese, Russian, French, and numerous Third World policy makers, is multipolarity a more likely scenario? Multipolarity assumes a certain amount of decentralization in the global system, across three or more “power centers”. This schema would require at least minimal ...
... Irrespective of its favor with Chinese, Russian, French, and numerous Third World policy makers, is multipolarity a more likely scenario? Multipolarity assumes a certain amount of decentralization in the global system, across three or more “power centers”. This schema would require at least minimal ...
FROM LIBERALIZATION TO INVESTMENT AND JOBS: LOST IN TRANSLATION A.
... have become suppliers of some of these services, including in high value-added sectors. It has been argued that China’s shift to capitalism, India’s turn from autarky and the collapse of communism have added to economically active persons in the world by almost 1.5 billion workers, doubling the glob ...
... have become suppliers of some of these services, including in high value-added sectors. It has been argued that China’s shift to capitalism, India’s turn from autarky and the collapse of communism have added to economically active persons in the world by almost 1.5 billion workers, doubling the glob ...
Slowdown in growth in the emerging market economies
... industrial countries. The fact that the slowdown is so persistent suggests, however, that it is rather the underlying path of expansion that has flattened. Given the advanced stage of the convergence process, it could be said that this is a “natural” easing of the rate of expansion. Nevertheless, su ...
... industrial countries. The fact that the slowdown is so persistent suggests, however, that it is rather the underlying path of expansion that has flattened. Given the advanced stage of the convergence process, it could be said that this is a “natural” easing of the rate of expansion. Nevertheless, su ...
ETUI SEMINAR, Brussels 12.06.2001
... Past Crises : Literature review / country experiences – Financial Crises lead to prolonged, even permanent reductions in the level of potential output – more uncertainty surrounding potential growth rate effects – Cases of Finland & Sweden highlight the importance of TFP enhancing restructuring & in ...
... Past Crises : Literature review / country experiences – Financial Crises lead to prolonged, even permanent reductions in the level of potential output – more uncertainty surrounding potential growth rate effects – Cases of Finland & Sweden highlight the importance of TFP enhancing restructuring & in ...
The Euro Experience: A Review of the Euro Crisis, Policy Issues
... development. In that vein, the first question addressed is whether or not the data show a growth impulse and a movement towards convergence after the adoption of the Euro. Second, the macroeconomic experience of the “emerging” Euro zone economies is examined in order to see to what extent they follo ...
... development. In that vein, the first question addressed is whether or not the data show a growth impulse and a movement towards convergence after the adoption of the Euro. Second, the macroeconomic experience of the “emerging” Euro zone economies is examined in order to see to what extent they follo ...
Economic Adjustment in the Baltic Countries
... Estonia, Latvia and Lithuania experienced several years of strong economic growth before the global financial crisis but the boom was followed by very deep recessions in 2008/2009. However, since the severe recession, the Baltics have witnessed a relatively speedy recovery. As a result the countries ...
... Estonia, Latvia and Lithuania experienced several years of strong economic growth before the global financial crisis but the boom was followed by very deep recessions in 2008/2009. However, since the severe recession, the Baltics have witnessed a relatively speedy recovery. As a result the countries ...
Should Advanced Countries Adopt Fiscal Responsibility Laws?
... and, for EU countries, the quantitative targets for debt and fiscal deficits of the Stability and Growth Pact (and enforcement procedures). • Credibility. The experience of embedding numerical fiscal rules – debt, deficit or spending targets – in FRL-type legislation has been disappointing. FRLs do ...
... and, for EU countries, the quantitative targets for debt and fiscal deficits of the Stability and Growth Pact (and enforcement procedures). • Credibility. The experience of embedding numerical fiscal rules – debt, deficit or spending targets – in FRL-type legislation has been disappointing. FRLs do ...
Text - IMF
... planned fiscal consolidation at the country level and better policy coordination at the monetary union level are important to preserve external stability. Likewise, fast-growing countries in East Africa need to ensure that the scaling up of public investment, which has led to rapidly rising debt, is ...
... planned fiscal consolidation at the country level and better policy coordination at the monetary union level are important to preserve external stability. Likewise, fast-growing countries in East Africa need to ensure that the scaling up of public investment, which has led to rapidly rising debt, is ...
18-20 Capital Goods and Economic Growth (cont`d)
... Copyright © 2012 Pearson Addison-Wesley. All rights reserved. ...
... Copyright © 2012 Pearson Addison-Wesley. All rights reserved. ...
DC2010-0015 September 30, 2010 HOW RESILIENT HAVE
... collapses. Moreover, countries more open to trade and with higher shares of manufacturing goods in their exports also suffered larger growth collapses. This finding is not entirely surprising. From the perspective of developing countries, the global crisis was an exogenous shock transmitted from the ...
... collapses. Moreover, countries more open to trade and with higher shares of manufacturing goods in their exports also suffered larger growth collapses. This finding is not entirely surprising. From the perspective of developing countries, the global crisis was an exogenous shock transmitted from the ...
Slide 1
... countries’ needs for capital, which can be used to supplement their own internal efforts to improve socioeconomic conditions. Countries need hard currency such as dollars, euros, and yen, which are acceptable in private channels of international economics. ...
... countries’ needs for capital, which can be used to supplement their own internal efforts to improve socioeconomic conditions. Countries need hard currency such as dollars, euros, and yen, which are acceptable in private channels of international economics. ...
International monetary systems
... Maynard Keynes and Harry Dexter White, created a plan which was endorsed by the 42 countries attending the 1944 Bretton Woods conference. The plan involved nations agreeing to a system of fixed but adjustable exchange rates where the currencies were pegged against the dollar, with the dollar itself ...
... Maynard Keynes and Harry Dexter White, created a plan which was endorsed by the 42 countries attending the 1944 Bretton Woods conference. The plan involved nations agreeing to a system of fixed but adjustable exchange rates where the currencies were pegged against the dollar, with the dollar itself ...
Regional Economic Outlook: Middle East and Central Asia
... advanced economies, may well lead to increased inflows to the other countries in the region, fueling stronger credit and domestic demand. However, a protracted slowdown in advanced economies would hurt growth in most MCD countries, depressing exports and commodity prices. Tighter credit in advanced ...
... advanced economies, may well lead to increased inflows to the other countries in the region, fueling stronger credit and domestic demand. However, a protracted slowdown in advanced economies would hurt growth in most MCD countries, depressing exports and commodity prices. Tighter credit in advanced ...
Overview: Miracle, Crisis and Beyond
... (Johnson 1967). Yet, it has become increasingly important since the mid-1980s, as closer linkages with OECD countries through trade, investment and technology flows have been recognised as crucial factors in the success of developing countries to sustain growth and catching-up processes. Langhammer ...
... (Johnson 1967). Yet, it has become increasingly important since the mid-1980s, as closer linkages with OECD countries through trade, investment and technology flows have been recognised as crucial factors in the success of developing countries to sustain growth and catching-up processes. Langhammer ...
The Fiscal Dimensions of Conflict and Reconstruction
... Portugal's fiscal institutions originated in the fifteenth century, in the context of wars with Spain (Braga de Macedo et al. 1998). In exchange for providing revenues, societies extracted institutional reforms from rulers, a process that strengthened the legitimacy of early modern states: ‘.... sta ...
... Portugal's fiscal institutions originated in the fifteenth century, in the context of wars with Spain (Braga de Macedo et al. 1998). In exchange for providing revenues, societies extracted institutional reforms from rulers, a process that strengthened the legitimacy of early modern states: ‘.... sta ...
Download Executive Summary
... capital flight, netting out illicit flows makes little sense. This is because when it comes to illicit capital, flows are illicit in both directions and netting them out would be akin to deriving a position that corresponds to “net crime” rather than a net benefit or cost to an economy. In light of ...
... capital flight, netting out illicit flows makes little sense. This is because when it comes to illicit capital, flows are illicit in both directions and netting them out would be akin to deriving a position that corresponds to “net crime” rather than a net benefit or cost to an economy. In light of ...
By Dr. Dave Seerattan Research Fellow Caribbean Centre for
... policy objective in all countries, especially those where growth has been muted for some time. In any case, all the stakeholders recognise that there can be no long-term solution to the fiscal and debt problems in the region if growth remains muted. The national authorities have in most cases agreed ...
... policy objective in all countries, especially those where growth has been muted for some time. In any case, all the stakeholders recognise that there can be no long-term solution to the fiscal and debt problems in the region if growth remains muted. The national authorities have in most cases agreed ...