Prospects for international economic cooperation
... come. There will be a natural tendency for economies and people to turn inward, and for governments to reduce the priority they give to their external ties. As they do so, there is a risk that they will slip toward a breakdown in international cooperation, and even toward open conflict. This makes i ...
... come. There will be a natural tendency for economies and people to turn inward, and for governments to reduce the priority they give to their external ties. As they do so, there is a risk that they will slip toward a breakdown in international cooperation, and even toward open conflict. This makes i ...
Governance, Financial Liberalization, and Financial Development in
... Financial liberalization, by itself, did not improve financial development, contrary to previous studies The impact of governance, by itself, improved fin dev in 2003-2008 Governance improved impact of financial liberalization in 20032008, but worsened it in 1996-2002 Civil laws systems are less fav ...
... Financial liberalization, by itself, did not improve financial development, contrary to previous studies The impact of governance, by itself, improved fin dev in 2003-2008 Governance improved impact of financial liberalization in 20032008, but worsened it in 1996-2002 Civil laws systems are less fav ...
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... the euro area faces tough challenges at its periphery as candidate countries face looming balance of payment crises, while developments in Greece suggest that the credibility premium of membership is conditional on sound economic policies. ...
... the euro area faces tough challenges at its periphery as candidate countries face looming balance of payment crises, while developments in Greece suggest that the credibility premium of membership is conditional on sound economic policies. ...
Emerging Markets: Tragically Hip?
... instabilities in the future. Yet, seven years after the financial crisis, here we are. The central issue is that policymakers have not yet resolved the deficiency of world demand. That means we may have only scratched the surface in terms of unorthodox policy. The next stage will likely be central b ...
... instabilities in the future. Yet, seven years after the financial crisis, here we are. The central issue is that policymakers have not yet resolved the deficiency of world demand. That means we may have only scratched the surface in terms of unorthodox policy. The next stage will likely be central b ...
Regulation or Deregulation of an Economic Entity: A Normative
... customers to borrow from banks and spend it on the economy, thereby counteracting recessionary pressures. This can be achieved in one of several ways: ...
... customers to borrow from banks and spend it on the economy, thereby counteracting recessionary pressures. This can be achieved in one of several ways: ...
Regulation or Deregulation of an Economic Entity: A Normative
... assets, thereby allowing them to lend more to retail and business customers. Reserve reductions: Monetary authorities require banks to hold a certain portion of their assets with the central bank. By reducing this requirement, the central bank can free up banks' capital, which in turn is used by the ...
... assets, thereby allowing them to lend more to retail and business customers. Reserve reductions: Monetary authorities require banks to hold a certain portion of their assets with the central bank. By reducing this requirement, the central bank can free up banks' capital, which in turn is used by the ...
global political economy
... (These policies raise government funds to pay for international payments such as debt and imports) ...
... (These policies raise government funds to pay for international payments such as debt and imports) ...
CHAPTER 1 An Overview of Financial Management
... person, debt markets are much larger in total dollars than equity markets, due to greater number of participant classes (households, businesses, government, and foreigners) and size of individual participants (businesses, and government) This is not the case in the UAE; debt market is mostly bank lo ...
... person, debt markets are much larger in total dollars than equity markets, due to greater number of participant classes (households, businesses, government, and foreigners) and size of individual participants (businesses, and government) This is not the case in the UAE; debt market is mostly bank lo ...
Frederic Jenny, Judge, French Supreme Court
... State guarantees on bank liabilities They represent the largest budgetary commitment among the aid instruments, with EUR 2.9 trillion (25% of EU GDP) of approved measures, out of which EUR 1 trillion (8% of GDP) have been effectively granted. Set up as an immediate response to the drying up of liqu ...
... State guarantees on bank liabilities They represent the largest budgetary commitment among the aid instruments, with EUR 2.9 trillion (25% of EU GDP) of approved measures, out of which EUR 1 trillion (8% of GDP) have been effectively granted. Set up as an immediate response to the drying up of liqu ...
Reserve Uncertainty and the Supply of International Credit
... policy maker controls the income from exporting a natural resource, and faces an uncertain future horizon. Second period output is determined by first period investment (financed by the policy maker, or by outside parties). The policy maker chooses between investing (and producing output in the ...
... policy maker controls the income from exporting a natural resource, and faces an uncertain future horizon. Second period output is determined by first period investment (financed by the policy maker, or by outside parties). The policy maker chooses between investing (and producing output in the ...
Financial Crisis of 2007–2010
... credit and over speculation on the belief in the false truism that housing prices always go up. Low initial rates on adjustable rate mortgages (ARM) and low down payment requirements encouraged short-term speculation with the hopes of selling or refinancing at more favorable terms. After a prolonged ...
... credit and over speculation on the belief in the false truism that housing prices always go up. Low initial rates on adjustable rate mortgages (ARM) and low down payment requirements encouraged short-term speculation with the hopes of selling or refinancing at more favorable terms. After a prolonged ...
R E S E A R C H ... A N D F I N A N... Discussion Paper no 19
... some 20 bio US$ worth of assets. A first (small) fiscal stimulus packet was implemented in the USA, but the impact on the real economy outside the USA was limited. In August/September 2008 the crisis turned into a full scale financial crisis – and it did so with a big bang: Lehman Brothers, one of W ...
... some 20 bio US$ worth of assets. A first (small) fiscal stimulus packet was implemented in the USA, but the impact on the real economy outside the USA was limited. In August/September 2008 the crisis turned into a full scale financial crisis – and it did so with a big bang: Lehman Brothers, one of W ...
Prudential Supervision and the Changing Financial System
... investors. These investors are, however, well-placed to assess the risks they take on. Moreover, such losses do not have the same potential impacts on credit flows or the payments system as may flow from losses in a bank. In the longer term, there may be issues for macroeconomic policy to resolve as ...
... investors. These investors are, however, well-placed to assess the risks they take on. Moreover, such losses do not have the same potential impacts on credit flows or the payments system as may flow from losses in a bank. In the longer term, there may be issues for macroeconomic policy to resolve as ...
PPT
... Should the same principles apply to corporations that change their residence (either due to relocation or to boundary changes)? The Committee agreed that the principles established for individuals changing residence should also apply to corporations in the case of boundary changes or a single corpor ...
... Should the same principles apply to corporations that change their residence (either due to relocation or to boundary changes)? The Committee agreed that the principles established for individuals changing residence should also apply to corporations in the case of boundary changes or a single corpor ...
economic insight SOUTH EAST ASIA Quarterly briefing August 2012 gLoBaL sLumP raises concerns
... 3.5% in 2013. A recovery of its trading partners should see the country’s GDP rise by 4.0% in 2014. Regardless of the strong domestic focus of the Indonesian economy and an improving perception by the international financial community, Indonesia may be hit by falling commodity prices. Its low-cost p ...
... 3.5% in 2013. A recovery of its trading partners should see the country’s GDP rise by 4.0% in 2014. Regardless of the strong domestic focus of the Indonesian economy and an improving perception by the international financial community, Indonesia may be hit by falling commodity prices. Its low-cost p ...
integrated supervisor
... • Non-performing loans (NPL) going up in the corporate segment while stable in the housing sector ... Non-performing loans to households ...
... • Non-performing loans (NPL) going up in the corporate segment while stable in the housing sector ... Non-performing loans to households ...
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... countries in 2012. The correlation of market cap/GDP to the corruption index was negative 45% (r-squared = .21) which is highly statistically significant (T > 5). We repeated the analysis with data for 2002. In this case, the number of countries with functional equity markets was only 82, but the co ...
... countries in 2012. The correlation of market cap/GDP to the corruption index was negative 45% (r-squared = .21) which is highly statistically significant (T > 5). We repeated the analysis with data for 2002. In this case, the number of countries with functional equity markets was only 82, but the co ...
Lecture 7: Factors Affect Current Account
... worsened. However, there are few episodes shown that the reversal of the current account associated with a reversal in the NIIP. Alternative Theories of Adjustment The current account reversals in Canada, Denmark, and Norway were accomplished without a real or a nominal depreciation, and in Singapor ...
... worsened. However, there are few episodes shown that the reversal of the current account associated with a reversal in the NIIP. Alternative Theories of Adjustment The current account reversals in Canada, Denmark, and Norway were accomplished without a real or a nominal depreciation, and in Singapor ...
The Exchange Rate Mechanism and the Ruble Devaluation of 1998
... suggests that, products that are substitutes for each other in international trade should have similar prices in all countries when measured against the same currency. But most often, it is the comparison of what a foreign currency can buy as opposed to, what the U.S. dollar can buy. The basic idea ...
... suggests that, products that are substitutes for each other in international trade should have similar prices in all countries when measured against the same currency. But most often, it is the comparison of what a foreign currency can buy as opposed to, what the U.S. dollar can buy. The basic idea ...
Out of the corridor: Keynes and the crisis
... The Treatise on Money contains a piece of analysis that I have found illuminating. It deals with the financial side of a business downturn. Keynes assumes an initial equilibrium disturbed by a decline in expected future revenues from present capital accumulation. Firms cut back on investment and as ...
... The Treatise on Money contains a piece of analysis that I have found illuminating. It deals with the financial side of a business downturn. Keynes assumes an initial equilibrium disturbed by a decline in expected future revenues from present capital accumulation. Firms cut back on investment and as ...
Global financial system
The global financial system is the worldwide framework of legal agreements, institutions, and both formal and informal economic actors that together facilitate international flows of financial capital for purposes of investment and trade financing. Since emerging in the late 19th century during the first modern wave of economic globalization, its evolution is marked by the establishment of central banks, multilateral treaties, and intergovernmental organizations aimed at improving the transparency, regulation, and effectiveness of international markets. In the late 1800s, world migration and communication technology facilitated unprecedented growth in international trade and investment. At the onset of World War I, trade contracted as foreign exchange markets became paralyzed by money market illiquidity. Countries sought to defend against external shocks with protectionist policies and trade virtually halted by 1933, worsening the effects of the global Great Depression until a series of reciprocal trade agreements slowly reduced tariffs worldwide. Efforts to revamp the international monetary system after World War II improved exchange rate stability, fostering record growth in global finance.A series of currency devaluations and oil crises in the 1970s led most countries to float their currencies. The world economy became increasingly financially integrated in the 1980s and 1990s due to capital account liberalization and financial deregulation. A series of financial crises in Europe, Asia, and Latin America followed with contagious effects due to greater exposure to volatile capital flows. The global financial crisis, which originated in the United States in 2007, quickly propagated among other nations and is recognized as the catalyst for the worldwide Great Recession. A market adjustment to Greece's noncompliance with its monetary union in 2009 ignited a sovereign debt crisis among European nations known as the Eurozone crisis.A country's decision to operate an open economy and globalize its financial capital carries monetary implications captured by the balance of payments. It also renders exposure to risks in international finance, such as political deterioration, regulatory changes, foreign exchange controls, and legal uncertainties for property rights and investments. Both individuals and groups may participate in the global financial system. Consumers and international businesses undertake consumption, production, and investment. Governments and intergovernmental bodies act as purveyors of international trade, economic development, and crisis management. Regulatory bodies establish financial regulations and legal procedures, while independent bodies facilitate industry supervision. Research institutes and other associations analyze data, publish reports and policy briefs, and host public discourse on global financial affairs.While the global financial system is edging toward greater stability, governments must deal with differing regional or national needs. Some nations are trying to orderly discontinue unconventional monetary policies installed to cultivate recovery, while others are expanding their scope and scale. Emerging market policymakers face a challenge of precision as they must carefully institute sustainable macroeconomic policies during extraordinary market sensitivity without provoking investors to retreat their capital to stronger markets. Nations' inability to align interests and achieve international consensus on matters such as banking regulation has perpetuated the risk of future global financial catastrophes.