Coping With Capital Surges

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Coping with Capital Surges

Ricardo Ffrench-Davis
Coping with Capital Surges Book PDF

Author : Ricardo Ffrench-Davis
Publisher : Unknown
Page : 277 pages
File Size : 53,8 Mb
Release : 1995-01-01
Category : Amérique latine - Politique économique
ISBN : 0889366020

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Coping with Capital Surges by Ricardo Ffrench-Davis Pdf

Private capital flows to Latin America have increased dramatically since 1989. This book examines the possible causes and consequences of this new and unforeseen wave of investment from the perspectives of both the borrower and the lender. The authors first analyze direct investment, securities investment (both bonds and shares), and bank lending by investors in the United States, Europe, and Japan, as well as the regulations affecting those investors. They differentiate among the scale, features, and motivations of those investors and lenders. The authors then turn to the features of capital flows, their macroeconomic impact, and policy responses in three recipient countries: Argentina, Chile, and Mexico. Those policy responses fundamentally relate to attempts to moderate the impact of capital inflows on exchange rates, to reduce the monetary impact of foreign exchange operations, and to moderate short-term capital inflows.

Coping with Capital Surges

International Development Research Centre (Canada)
Coping with Capital Surges Book PDF

Author : International Development Research Centre (Canada)
Publisher : International Development Research Centre
Page : 277 pages
File Size : 53,6 Mb
Release : 1995
Category : Amérique latine - Politique économique
ISBN : 0889367507

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Coping with Capital Surges by International Development Research Centre (Canada) Pdf

Coping with Capital Surges: The return of finance to Latin America

From Capital Surges to Drought

R. Ffrench-Davis,S. Griffith-Jones
From Capital Surges to Drought Book PDF

Author : R. Ffrench-Davis,S. Griffith-Jones
Publisher : Springer
Page : 340 pages
File Size : 40,9 Mb
Release : 2003-10-23
Category : Business & Economics
ISBN : 9781403990099

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From Capital Surges to Drought by R. Ffrench-Davis,S. Griffith-Jones Pdf

This book analyzes the new trends in capital flows to emerging markets since the Asian crisis, their determinants and policy implications. It explains why such flows have declined so dramatically in recent years, emphasising both structural and cyclical factors. Senior bankers, regulators, and well-known academics explain the behaviour of different players. The book breaks new ground by showing in detail how such behaviour has contributed to the decline of flows and their volatility. The book suggests what coping mechanisms developing countries could adopt to deal with crisis situations; what measures should be taken at the national and international levels to make recipient countries less vulnerable to international financial instability; how such instability can be reduced; and what can be done on the source countries to encourage larger more stable capital flows to developing countries.

Surges

Mr.Atish R. Ghosh,Mr.Jun Il Kim,MissMahvash Qureshi,Mr.Juan Zalduendo
Surges Book PDF

Author : Mr.Atish R. Ghosh,Mr.Jun Il Kim,MissMahvash Qureshi,Mr.Juan Zalduendo
Publisher : International Monetary Fund
Page : 43 pages
File Size : 44,7 Mb
Release : 2012-01-01
Category : Business & Economics
ISBN : 9781463942304

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Surges by Mr.Atish R. Ghosh,Mr.Jun Il Kim,MissMahvash Qureshi,Mr.Juan Zalduendo Pdf

This paper examines why surges in capital flows to emerging market economies (EMEs) occur, and what determines the allocation of capital across countries during such surge episodes. We use two different methodologies to identify surges in EMEs over 1980-2009, differentiating between those mainly caused by changes in the country's external liabilities (reflecting the investment decisions of foreigners), and those caused by changes in its assets (reflecting the decisions of residents). Global factors-including US interest rates and risk aversion¡-are key to determining whether a surge will occur, but domestic factors such as the country's external financing needs (as implied by an intertemporal optimizing model of the current account) and structural characteristics also matter, which explains why not all EMEs experience surges. Conditional on a surge occurring, moreover, the magnitude of the capital inflow depends largely on domestic factors including the country's external financing needs, and the exchange rate regime. Finally, while similar factors explain asset- and liability-driven surges, the latter are more sensitive to global factors and contagion.

Managing Capital Flows

Masahiro Kawai,Mario B. Lamberte
Managing Capital Flows Book PDF

Author : Masahiro Kawai,Mario B. Lamberte
Publisher : Edward Elgar Publishing
Page : 465 pages
File Size : 40,8 Mb
Release : 2010-01-01
Category : Business & Economics
ISBN : 9781849806879

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Managing Capital Flows by Masahiro Kawai,Mario B. Lamberte Pdf

Managing Capital Flows provides analyses that can help policymakers develop a framework for managing capital flows that is consistent with prudent macroeconomic and financial sector stability. While capital inflows can provide emerging market economies with invaluable benefits in pursuing economic development and growth, they can also pose serious policy challenges for macroeconomic management and financial sector supervision. The expert contributors cover a wide range of issues related to managing capital flows and analyze the experience of emerging Asian economies in dealing with surges in capital inflows. They also discuss possible policy measures to manage capital flows while remaining consistent with the goals of macroeconomic and financial sector stability. Building on this analysis, the book presents options for workable national policies and regional policy cooperation, particularly in exchange rate management. Containing chapters that bring in international experiences relevant to Asia and other emerging market economies, this insightful book will appeal to policymakers in governments and financial institutions, as well as public and private finance experts. It will also be of great interest to advanced students and academic researchers in finance.

The Tobin Tax

Mahbub ul Haq,Inge Kaul,Isabelle Grunberg
The Tobin Tax Book PDF

Author : Mahbub ul Haq,Inge Kaul,Isabelle Grunberg
Publisher : Oxford University Press
Page : 337 pages
File Size : 44,5 Mb
Release : 1996-07-11
Category : Business & Economics
ISBN : 9780195344394

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The Tobin Tax by Mahbub ul Haq,Inge Kaul,Isabelle Grunberg Pdf

In his 1972 Janeway Lectures at Princeton, James Tobin, the 1981 Nobel Prize winner for economics, submitted a proposal for a levy on international currency transactions. The idea was not greeted with enthusiasm, as the 1970s were a period of optimism and confidence in floating exchange rages. Yet, whenever currency crises erupted during the past decades, the proposal for a levy on international currency transactions would once again arise. In the 1990s, two additional facts have sharpened interest in the Tobin tax proposal. First is the growing volume of foreign exchange trading. Second, interest is coming not only from policymakers and experts concerned with the smooth functioning of financial markets. It is shared by those concerned with public financing of development--the fiscal crisis of the state as well as the growing need for international cooperation on problems such as the environment, poverty, peace and security. This work makes a systematic analysis of the proposal for a foreign exchange transactions levy. Its chapters examine the economic desirability of such a levy, its technical and political feasibility, its revenue potential, the possible uses of that revenue, and related administrative and institutional aspects.

Short-Term Capital Flows and Economic Crises

Stephany Griffith-Jones,Manuel F. Montes,Anwar Nasution
Short Term Capital Flows and Economic Crises Book PDF

Author : Stephany Griffith-Jones,Manuel F. Montes,Anwar Nasution
Publisher : OUP Oxford
Page : 325 pages
File Size : 50,7 Mb
Release : 2001-02-01
Category : Business & Economics
ISBN : 9780191589140

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Short-Term Capital Flows and Economic Crises by Stephany Griffith-Jones,Manuel F. Montes,Anwar Nasution Pdf

The currency crises that engulfed East Asian economies in 1997 and Mexico in 1994 - and their high development costs - raise a serious concern about the net benefits for developing countries of large flows of potentially reversible short-term international capital. Written by senior policy-makers and academics, the contributions to this volume examine in depth the macroeconomic and other policy dilemmas confronting public authorities in the emerging economies as they deal with short-term capital movements, especially in the period before the outbreak of these crises. The studies are based on comparative case studies of key emerging economies. Valuable insights are also derived from contrasts between the East Asian, Latin American, African, and European experiences, between the financial and real effects of financial flows, and between private and public responsibilities in managing financial markets. The great value of the chapters in this volume is that they analytically identify the weaknesses in both domestic and international capital market regimes. The recommendations derived from this analysis apply to the development of financial markets in developing countries, the monitoring and regulation of mutual funds in source countries, and the future development of international capital markets. They will make an important contribution both to the discussion of national policies and of a new international financial architechture.

Development Centre Studies Capital Flows and Investment Performance Lessons from Latin America

French-Davis Ricardo,Reisen Helmut
Development Centre Studies Capital Flows and Investment Performance Lessons from Latin America Book PDF

Author : French-Davis Ricardo,Reisen Helmut
Publisher : OECD Publishing
Page : 240 pages
File Size : 46,9 Mb
Release : 1998-10-09
Category : Electronic
ISBN : 9789264163454

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Development Centre Studies Capital Flows and Investment Performance Lessons from Latin America by French-Davis Ricardo,Reisen Helmut Pdf

This book, the result of a joint project between the OECD Development Centre and the UN Economic Commission for Latin America and the Caribbean (ECLAC), examines the policies of a group of major Latin American countries faced with large inflows.

Policy Responses to Capital Flows in Emerging Markets

Mahmood Pradhan,Mr.Ravi Balakrishnan,Reza Baqir,Mr.Geoffrey Heenan,Sylwia Nowak,Ceyda Oner,Mr.Sanjaya Panth
Policy Responses to Capital Flows in Emerging Markets Book PDF

Author : Mahmood Pradhan,Mr.Ravi Balakrishnan,Reza Baqir,Mr.Geoffrey Heenan,Sylwia Nowak,Ceyda Oner,Mr.Sanjaya Panth
Publisher : International Monetary Fund
Page : 45 pages
File Size : 52,9 Mb
Release : 2011-04-20
Category : Business & Economics
ISBN : 9781463935122

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Policy Responses to Capital Flows in Emerging Markets by Mahmood Pradhan,Mr.Ravi Balakrishnan,Reza Baqir,Mr.Geoffrey Heenan,Sylwia Nowak,Ceyda Oner,Mr.Sanjaya Panth Pdf

Staff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience interested in economic policy issues. This Web-only series replaced Staff Position Notes in January 2011.

Managing Capital Flows in Turbulent Times

Zdenek Drabek,Stephany Griffith-Jones
Managing Capital Flows in Turbulent Times Book PDF

Author : Zdenek Drabek,Stephany Griffith-Jones
Publisher : M.E. Sharpe
Page : 266 pages
File Size : 43,8 Mb
Release : 1999
Category : Business & Economics
ISBN : 0765603691

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Managing Capital Flows in Turbulent Times by Zdenek Drabek,Stephany Griffith-Jones Pdf

Volatility in emerging markets has become a familiar problem in the cases of Latin America and Asia; the same phenomenon in the new market economies of Eastern Europe -- the Czech Republic, Poland, and Hungary -- is of newer vintage. This book explores the patterns and problems of capital inflows in the Central European economies in a global context, highlighting the critical importance of transparency and prudent regulatory regimes in economic development.

Private Capital Flows and Development

Gerald K. Helleiner
Private Capital Flows and Development Book PDF

Author : Gerald K. Helleiner
Publisher : Commonwealth Secretariat
Page : 44 pages
File Size : 42,9 Mb
Release : 1998
Category : Business & Economics
ISBN : 0850925398

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Private Capital Flows and Development by Gerald K. Helleiner Pdf

This paper considers the new forms and roles of private capital flows to developing countries in the 1990s and appropriate national and international policy responses to the problems and possibilities they create. Section 2 describes the growth of these flows in the 1990s, their role in development and some of their effects in recipient countries. Section 3 considers alternate capital account policies for developing countries. In section 4 the possibility of improved international arrangements is considered. Section 5 contains recommendations from the previous analysis.

The Puzzle of Latin American Economic Development

Patrice M. Franko
The Puzzle of Latin American Economic Development Book PDF

Author : Patrice M. Franko
Publisher : Rowman & Littlefield
Page : 716 pages
File Size : 40,8 Mb
Release : 2007
Category : Business & Economics
ISBN : 0742553531

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The Puzzle of Latin American Economic Development by Patrice M. Franko Pdf

Provides the basic economic tools for students to understand the problems in the countries of Latin America. This third edition analyzes challenges to the neoliberal model of development and highlights macroeconomic changes in the region. It explores the contradictions of growth, and focuses on factors of competitiveness.

Pensions, Savings and Capital Flows From Ageing to Emerging Markets

Reisen Helmut
Pensions Savings and Capital Flows From Ageing to Emerging Markets Book PDF

Author : Reisen Helmut
Publisher : OECD Publishing
Page : 240 pages
File Size : 52,9 Mb
Release : 2000-05-15
Category : Electronic
ISBN : 9789264181625

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Pensions, Savings and Capital Flows From Ageing to Emerging Markets by Reisen Helmut Pdf

This books explores the international aspects of pension reform, private savings and volatile capital markets and clarifies how they relate to each other.

Global Capital Flows

Stephany Griffith-Jones
Global Capital Flows Book PDF

Author : Stephany Griffith-Jones
Publisher : Springer
Page : 225 pages
File Size : 42,9 Mb
Release : 1998-11-12
Category : Business & Economics
ISBN : 9781349269129

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Global Capital Flows by Stephany Griffith-Jones Pdf

The book examines the rapid growth and dramatic changes in capital flows globally and to emerging markets. In the context of relevant economic theory, it analyses benefits and costs of large and volatile capital flows to developing countries; the latter includes damaging currency crises as the Mexican and East Asian economies. The book makes innovative proposals on how best national governments - and especially - international organisations can avoid such crises.

Capital Mobility and Distributional Conflict in Chile, South Korea, and Turkey

Kurtuluş Gemici
Capital Mobility and Distributional Conflict in Chile South Korea and Turkey Book PDF

Author : Kurtuluş Gemici
Publisher : Routledge
Page : 216 pages
File Size : 55,7 Mb
Release : 2020-05-04
Category : Social Science
ISBN : 9780429762086

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Capital Mobility and Distributional Conflict in Chile, South Korea, and Turkey by Kurtuluş Gemici Pdf

Why did many emerging countries pursue risky financial opening policies in a reckless manner, even after the painful example of the Latin American debt crisis? Unlike trade liberalization, which has mostly been beneficial in emerging countries, the removal of capital controls has led to boom-bust patterns in many countries. It is not simply driven by class or sectoral interests, nor is it just a result of ideational changes in policy-making circles, or international pressure. Gemici argues that to fully understand the motivation for these policies, we need to take into account distributional struggles prior to their enactment. In this book, Gemici shows that conflictual distributional relations significantly increase the likelihood of capital account liberalization. Through in-depth comparative case studies, he also demonstrates that countries which liberalize in the most comprehensive manner tend to be the countries characterized by a high degree of distributional conflict. The case studies – Argentina, Chile, South Korea , and Turkey – have been chosen to maximise variation in distributional relations and to escape regional clustering, showing quite different trajectories of capital account liberalization. This will be of great interest to readers in sociology, international political economy and heterodox economics, as well as specialists in the countries examined.