Comparative Analysis Of Trade And Finance In Emerging Economies
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Comparative Analysis of Trade and Finance in Emerging Economies by William A. Barnett,Bruno S. Sergi Pdf
This volume of the International Symposia in Economic Theory and Econometrics explores the latest economic and financial developments in Africa and Asia.
Emerging Market Economies and Financial Globalization by Leonardo E. Stanley Pdf
In the past, foreign shocks arrived to national economies mainly through trade channels, and transmissions of such shocks took time to come into effect. However, after capital globalization, shocks spread to markets almost immediately. Despite the increasing macroeconomic dangers that the situation generated at emerging markets in the South, nobody at the North was ready to acknowledge the pro-cyclicality of the financial system and the inner weakness of “decontrolled” financial innovations because they were enjoying from the “great moderation.” Monetary policy was primarily centered on price stability objectives, without considering the mounting credit and asset price booms being generated by market liquidity and the problems generated by this glut. Mainstream economists, in turn, were not majorly attracted in integrating financial factors in their models. External pressures on emerging market economies (EMEs) were not eliminated after 2008, but even increased as international capital flows augmented in relevance thereafter. Initially economic authorities accurately responded to the challenge, but unconventional monetary policies in the US began to create important spillovers in EMEs. Furthermore, in contrast to a previous surge in liquidity, funds were now transmitted to EMEs throughout the bond market. The perspective of an increase in US interest rates by the FED is generating a reversal of expectations and a sudden flight to quality. Emerging countries’ currencies began to experience higher volatility levels, and depreciation movements against a newly strong US dollar are also increasingly observed. Consequently, there are increasing doubts that the “unexpected” favorable outcome observed in most EMEs at the aftermath of the Global Financial Crisis (GFC) would remain.
New Voices in Investment by Laura Gómez-Mera,Thomas Kenyon,Yotam Margalit,José Guilherme Reis,Gonzalo Varela Pdf
This study analyzes the characteristics, motivations, strategies, and needs of FDI from emerging markets. It draws from a survey of investors and potential investors in Brazil, India, South Korea, and South Africa.
Author : Sebastian Edwards,Márcio G. P. Garcia Publisher : University of Chicago Press Page : 299 pages File Size : 44,5 Mb Release : 2008-09-15 Category : Business & Economics ISBN : 9780226185040
Financial Markets Volatility and Performance in Emerging Markets by Sebastian Edwards,Márcio G. P. Garcia Pdf
Capital mobility is a double-edged sword for emerging economies, as governments must weigh the benefits of investment against the potential economic costs and political consequences of currency crises, devaluations, and instability. Financial Markets Volatility and Performance in Emerging Markets addresses the delicate balance between capital mobility and capital controls as developing countries navigate the convoluted global network of private investors, hedge funds, large corporations, and international institutions such as the International Monetary Fund. A group of experts here examine rapidly globalizing financial markets with regard to capital flows and crises, domestic credit, international financial integration, and economic policy. Featuring detailed analyses and cross-national comparisons of countries such as Brazil, Argentina, Uruguay, and Korea, this book will shape economists’ and policymakers’ understanding of the effectiveness of restrictions on capital mobility in the world’s most fragile economies.
Macroeconomic Risk and Growth in the Southeast Asian Countries by William A. Barnett,Bruno S. Sergi Pdf
ASEAN economies have much insight to offer the world, from investor behaviour during COVID-19, and deep-rooted attitudes towards risk and corruption, to achievement of the Sustainable Development Goals through the gender perspective.
A Theory of Domestic and International Trade Finance by Mr.JaeBin Ahn Pdf
This paper provides a theory model of trade finance to explain the "great trade collapse." The model shows that, first, the riskiness of international transactions rises relative to domestic transactions during economic downturns, and second, the exclusive use of a letter of credit in international transactions exacerbates a collapse in trade during a financial crisis. The basic model considers banks' optimal screening decisions in the presence of counterparty default risks. In equilibrium, banks will maintain a higher precision screening test for domestic firms and a lower precision screening test for foreign firms, which constitutes the main mechanism of the model.
The Gains and Pains of Financial Integration and Trade Liberalization by Rajib Bhattacharyya Pdf
Geared towards policy makers, researchers, academics, and business and management professionals, The Gains and Pains of Financial Integration and Trade Liberalization helps readers develop new theories and models for analysing the future trends in finance and trade-related issues.
Author : Mr. Ross Levine Publisher : International Monetary Fund Page : 80 pages File Size : 55,6 Mb Release : 2021-06-11 Category : Business & Economics ISBN : 9781513583365
Finance, Growth, and Inequality by Mr. Ross Levine Pdf
Finance and growth emerged as a distinct field of economics during the last three decades as economists integrated the fields of finance and economic growth and then explored the ramifications of the functioning of financial systems on economic growth, income distribution, and poverty. In this paper, I review theoretical and empirical research on the connections between the operation of the financial system and economic growth and inequality. While subject to ample qualifications, the preponderance of evidence suggests that (1) financial development—both the development of banks and stock markets—spurs economic growth and (2) better functioning financial systems foster growth primarily by improving resource allocation and technological change, not by increasing saving rates. Some research also suggests that financial development expands economic opportunities and tightens income distribution, primarily by boosting the incomes of the poor. This work implies that financial development fosters growth by expanding opportunities. Finally, and more tentatively, financial innovation—improvements in the ability of financial systems to ameliorate information and transaction costs—may be necessary for sustaining growth.
International Finance by H. Kent Baker,Leigh A. Riddick Pdf
Understanding the current state of affairs and tools available in the study of international finance is increasingly important as few areas in finance can be divorced completely from international issues. International Finance reflects the new diversity of interest in international finance by bringing together a set of chapters that summarizes and synthesizes developments to date in the many and varied areas that are now viewed as having international content. The book attempts to differentiate between what is known, what is believed, and what is still being debated about international finance. The survey nature of this book involves tradeoffs that inevitably had to be made in the process given the vast footprint that constitutes international finance. No single book can cover everything. This book, however, tries to maintain a balance between the micro and macro aspects of international finance. Although each chapter is self-contained, the chapters form a logical whole that follows a logical sequence. The book is organized into five broad categories of interest: (1) exchange rates and risk management, (2) international financial markets and institutions, (3) international investing, (4) international financial management, and (5) special topics. The chapters cover market integration, financial crisis, and the links between financial markets and development in some detail as they relate to these areas. In each instance, the contributors to this book discuss developments in the field to date and explain the importance of each area to finance as a field of study. Consequently, the strategic focus of the book is both broad and narrow, depending on the reader's needs. The entire book provides a broad picture of the current state of international finance, but a reader with more focused interests will find individual chapters illuminating on specific topics.
Capital Controls In Emerging Economies by Christine P Ries Pdf
This book looks at situations where a dramatic transformation of the political environment made existing institutions obsolete. It explores the use of capital controls in the reforming economies of the formerly communist countries.
Advanced Issues in the Economics of Emerging Markets by William A. Barnett,Bruno S. Sergi Pdf
Volume 27 of the International Symposia in Economic Theory and Econometrics series collects a range of unique and diverse chapters, each investigating different spheres of development in emerging markets with a specific focus on significant engines of growth and advancement in the Asia-Pacific economies.
The BRICs and Emerging Economies in Comparative Perspective by Uwe Becker Pdf
In the past ten to twenty years the global political economy picture has dramatically changed with the emergence of the economies of Brazil, Russia, India and, notably, China (BRICs) as big players and competitors of the advanced economies in the West and Eastern Asia. The book comparatively analyses institutional change in the BRICs. This book examines the BRICs by analysing their institutional development, their main continuities and changes, and their differences. It provides a comparative analysis of the political economies of the BRICs, but also considers South Africa and Turkey. The contributors provide a systematic comparison of the state-economy and the capital-labour relationships and explore whether they liberalized or followed a specific trajectory. The book also addresses debates on the varieties of capitalism and explores whether the emerging economies fit into the dichotomous construction of liberal and coordinated capitalism or whether they require a more differentiated typological approach. Moving away from rigid conceptions and the static classification of political economies as either liberal or coordinated and presenting a more open approach, The BRICs and Emerging Economies in Comparative Perspective will be vital reading for students and scholars of comparative political economy, international relations, capitalism, the BRICs, emerging markets and the role of the state in the economy.
Financial Market Reform In China by Baizhu Chen Pdf
As editors, first of all, we would like to thank the authors of this volume for their conscientious work that makes this volume possible. Many ideas in this book were first explored at an international symposium on financial market reforms in China, which was organized by the Chinese Economists Society. We would like to express our thanks to the sponsors of the conference: Center for International Business Education and Research, China Reform Foundation, MetLife, Hausman & Shrenger LLP, Lincoln National Insurance Company, City National Bank, Marshall School of Business, University of Southern California and The Chinese Economists Society. The Lincoln Foundation also provided generous support to this project through a grant made to Claremont Graduate University where this book was finalized.
Recent Developments in Asian Economics by William A. Barnett,Bruno S. Sergi Pdf
Recent Developments in Asian Economics is a crucial resource of current, cutting-edge research for any scholar of international finance and economics. Chapters cover a wide range of topics, such as social welfare systems, organizational culture, sustainability, the impact of economic policy uncertainty, and more.