1. The Balance of Payments
... The current account is a statistical record of the trade in goods and services between a country and the rest of the world. The current account consists of the goods balance, the service balance, the income balance, and the unilateral transfer balance. Goods Balance: (the trade balance) it is a reco ...
... The current account is a statistical record of the trade in goods and services between a country and the rest of the world. The current account consists of the goods balance, the service balance, the income balance, and the unilateral transfer balance. Goods Balance: (the trade balance) it is a reco ...
Latvia`s Economic Stabilisation and Growth Revival Programme
... - rapid economic growth in recent years in Latvia was mostly based on private consumption increase and large credit resource injections mainly in activities related to real estate market development which together with rapid import increase caused government debt increase to 135% of GDP; - during la ...
... - rapid economic growth in recent years in Latvia was mostly based on private consumption increase and large credit resource injections mainly in activities related to real estate market development which together with rapid import increase caused government debt increase to 135% of GDP; - during la ...
THE CRISIS AND MONETARY POLICY: WHAT WE LEARNED
... Consider an ANZAC dollar. The NZ dollar has fallen by over 10 percent against the AU dollar since 2006, a period in which Australia experienced an unprecedented minerals boom and very strong growth. If our currency had been pegged to the AU dollar, New Zealand’s exchange rate to the rest of the worl ...
... Consider an ANZAC dollar. The NZ dollar has fallen by over 10 percent against the AU dollar since 2006, a period in which Australia experienced an unprecedented minerals boom and very strong growth. If our currency had been pegged to the AU dollar, New Zealand’s exchange rate to the rest of the worl ...
Five explanations for the international financial crisis
... economy by the turn of the 20th century, because of populist political sentiment, it did not have a central bank until the Federal Reserve System was created in 1913. 3 As is well known, the most serious crisis of all began with the US stock market crash in 1929 and was followed by a wave of bank fa ...
... economy by the turn of the 20th century, because of populist political sentiment, it did not have a central bank until the Federal Reserve System was created in 1913. 3 As is well known, the most serious crisis of all began with the US stock market crash in 1929 and was followed by a wave of bank fa ...
Needed Steps to Advance Infrastructure Finance
... • However, will the government find and keep the right mix between the public sector and private sector financing? Or it might be tempted to give preference to the first one? • In LAC we see that in large part Governments are committed to fiscal discipline and are attempting to move towards the opti ...
... • However, will the government find and keep the right mix between the public sector and private sector financing? Or it might be tempted to give preference to the first one? • In LAC we see that in large part Governments are committed to fiscal discipline and are attempting to move towards the opti ...
Auditing the financial crisis some afterthoughts
... Draghi saved the Euro (so far): lender of last resort for solvent but illiquid sovereigns ...
... Draghi saved the Euro (so far): lender of last resort for solvent but illiquid sovereigns ...
Discussion on the Financial Sector Reform and the Economy
... macroeconomic instability. governments chronically in a fiscal crisis tended to extract rents from the private sector: A number of measures such as interest rate controls or high reserve requirements were used as implicit taxation on the domestic financial system. the household sector doubly los ...
... macroeconomic instability. governments chronically in a fiscal crisis tended to extract rents from the private sector: A number of measures such as interest rate controls or high reserve requirements were used as implicit taxation on the domestic financial system. the household sector doubly los ...
What is wine - UNT College of Arts and Sciences
... Theoretically, they could depreciate their currencies to avoid recession ...
... Theoretically, they could depreciate their currencies to avoid recession ...
Lecture - Module 2
... – Capital account – record of all long-term direct investment, portfolio investment, and capital flows ...
... – Capital account – record of all long-term direct investment, portfolio investment, and capital flows ...
Alogoskoufis08_transcript
... There also those who argue that what we are experiencing is not only about financial markets; that it is about the way our capitalist system is organised. They conclude that it will not suffice to re-evaluate rules about executive pay, financial market regulation, budgetary, monetary and social poli ...
... There also those who argue that what we are experiencing is not only about financial markets; that it is about the way our capitalist system is organised. They conclude that it will not suffice to re-evaluate rules about executive pay, financial market regulation, budgetary, monetary and social poli ...
Two dozen experts offer their views.
... sparked the flames: the Fed’s exceptionally low interest rates in 2003–04 and the capital inflows into the United States associated with reserve accumulation abroad then poured additional fuel on the fire. So in asking whether our policymakers have effectively dealt with the root causes of the crisi ...
... sparked the flames: the Fed’s exceptionally low interest rates in 2003–04 and the capital inflows into the United States associated with reserve accumulation abroad then poured additional fuel on the fire. So in asking whether our policymakers have effectively dealt with the root causes of the crisi ...
Implementing the regulatory reform agenda
... sample of what we call global systemically important banks saw a twelve-fold increase (increasing from $2.6 trillion to just over $30 trillion). But the capital funding these assets only increased sevenfold, (from $125 billion to $890 billion). Put differently, the average risk weight declined from ...
... sample of what we call global systemically important banks saw a twelve-fold increase (increasing from $2.6 trillion to just over $30 trillion). But the capital funding these assets only increased sevenfold, (from $125 billion to $890 billion). Put differently, the average risk weight declined from ...
Gross Financial Flows, Global Imbalances, and Crises
... • Two salient features of the euro’s first decade: • Bigger current account deficits of poorer countries. • Much bigger intra-euro area flows and positions. • Authors such as Blanchard and Giavazzi (BPEA, 2002) identified ...
... • Two salient features of the euro’s first decade: • Bigger current account deficits of poorer countries. • Much bigger intra-euro area flows and positions. • Authors such as Blanchard and Giavazzi (BPEA, 2002) identified ...
The history of globalisation
... The history of globalisation History of Globalisation The most recent wave of globalisation, which started in 1980, was spurred by a combination of advances in transport and communications technologies and by large developing countries who sought foreign investment by opening up to international tra ...
... The history of globalisation History of Globalisation The most recent wave of globalisation, which started in 1980, was spurred by a combination of advances in transport and communications technologies and by large developing countries who sought foreign investment by opening up to international tra ...
The 1997 Asian Financial Crisis
... • Did IMF’s closing insolvent banks lead to runs on solvent banks? • Critics say abrupt closing of banks sent market signal to withdraw money or lose it • Problems with critical view: IMF polices in Thailand and Korea did not cause runs. Runs only occurred in Indonesia due to: • Pre-existing lack of ...
... • Did IMF’s closing insolvent banks lead to runs on solvent banks? • Critics say abrupt closing of banks sent market signal to withdraw money or lose it • Problems with critical view: IMF polices in Thailand and Korea did not cause runs. Runs only occurred in Indonesia due to: • Pre-existing lack of ...
Slide 1
... This presentation has been prepared by BT Financial Group Limited (ABN 63 002 916 458) ‘BT’ and is for general information only. Every effort has been made to ensure that it is accurate, however it is not intended to be a complete description of the matters described. The presentation has been prep ...
... This presentation has been prepared by BT Financial Group Limited (ABN 63 002 916 458) ‘BT’ and is for general information only. Every effort has been made to ensure that it is accurate, however it is not intended to be a complete description of the matters described. The presentation has been prep ...
Globalization and Deglobalization [This is an email I sent to friends
... policies against tough times. Although many big emerging markets have built up foreignexchange reserves and cut their external debts, in eastern Europe reserves have been flat, external debts have risen and current- account deficits have grown considerably in the past decade. In these countries, the ...
... policies against tough times. Although many big emerging markets have built up foreignexchange reserves and cut their external debts, in eastern Europe reserves have been flat, external debts have risen and current- account deficits have grown considerably in the past decade. In these countries, the ...
of households
... Individuals are rational utility maximisers, have perfect information, welldefined and fixed preferences Consumer credit is rational, it allows smoothing consumption during individuals’ life cycle: borrow when income is lower and save when it is higher than expected average income The growth of ...
... Individuals are rational utility maximisers, have perfect information, welldefined and fixed preferences Consumer credit is rational, it allows smoothing consumption during individuals’ life cycle: borrow when income is lower and save when it is higher than expected average income The growth of ...
How to Restore Equitable and Sustainable Economic Growth in the
... CEO pay are robust. These corporations earn large fractions of their income abroad, and until rather recently, emerging market growth has been strong. Large American corporations are sitting on almost two trillion dollars of cash. It is not corporate balance sheets or their access to finance that ar ...
... CEO pay are robust. These corporations earn large fractions of their income abroad, and until rather recently, emerging market growth has been strong. Large American corporations are sitting on almost two trillion dollars of cash. It is not corporate balance sheets or their access to finance that ar ...
1 Global economic recession: effects and implications for South
... Given this global engagement expectations were that South Africa would feel the effects of the global recession both quickly and deeply, and in ways which added to the economic problems created by race, inequality and the structural problems associated with the nature of its brand of capitalism. The ...
... Given this global engagement expectations were that South Africa would feel the effects of the global recession both quickly and deeply, and in ways which added to the economic problems created by race, inequality and the structural problems associated with the nature of its brand of capitalism. The ...
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.