External Finance And Adjustment

Author : Karel Jansen,Rob Vos
Publisher : Springer
Page : 501 pages
File Size : 42,6 Mb
Release : 1997-12-13
Category : Business & Economics
ISBN : 9781349259052

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External Finance and Adjustment by Karel Jansen,Rob Vos Pdf

This book studies the impact of different sources of external finance on growth and development in different country contexts. An important finding of the study is that 'success' or 'failure' in the productive use of external and domestic financial resources cannot be explained on the basis of single factors such as external shocks or 'bad' versus 'sound' policies. Rather, they are outcomes of complex interactions between changes in exogenous factors (such as fluctuations in external finance and trade shocks), existing economic structures and the responses to shocks by domestic public and private sector agents. This finding also implies that there are no recipes in economic policy-making which are generally applicable; the 'best' policy has to be designed specifically for each country.

Author : John Loxley
Publisher : Routledge
Page : 232 pages
File Size : 53,6 Mb
Release : 2019-03-13
Category : Social Science
ISBN : 9780429712197

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Debt And Disorder by John Loxley Pdf

One of the most important and controversial challenges feeing the international financial and trading system is the need for developing countries to meet their high and rapidly growing external debt obligations and foreign exchange requirements. Developing countries have suffered major shocks in the form of global recession, high real interest rates, weakened terms of trade, and rising protectionism against their exports. The International Monetary Fund, the World Bank, Western central banks, and private financial institutions are seeking to avoid a collapse of the international financial system, and developing countries are seeking to grow through increased trade and access to external financing. Yet the fragility of current international trade and monetary systems seriously threatens the achievement of both sets of objectives. Professor Loxley integrates the structural adjustment experience of Third World countries with the policies, practices, and relationships of external financial agents in his discussion of options for reforming policy and of the limitations inherent in implementing these reforms.

Author : Ajay Chhibber,Javad Khalilzadeh Shirazi
Publisher : World Bank Publications
Page : 73 pages
File Size : 55,8 Mb
Release : 1988
Category : Ajuste economico
ISBN : 8210379456XXX

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Public finance in adjustment programs by Ajay Chhibber,Javad Khalilzadeh Shirazi Pdf

Author : Rob Vos
Publisher : Palgrave Macmillan
Page : 380 pages
File Size : 48,7 Mb
Release : 1994
Category : Debts, External.
ISBN : 0312124376

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Debt and Adjustment in the World Economy by Rob Vos Pdf

Author : Karel Jansen
Publisher : Springer
Page : 317 pages
File Size : 53,6 Mb
Release : 2016-07-27
Category : Business & Economics
ISBN : 9781349258468

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External Finance in Thailand’s Development by Karel Jansen Pdf

Between 1987 and 1990 Thailand experienced double-digit growth, fed by high capital inflows. This made Thailand one of the first developing countries to recover from the recession of the 1980s. Since 1990 growth and capital inflows have continued at a high level. The book makes a detailed study of the macroeconomic impact of capital inflows during recent years and during an earlier period when growth, and capital inflows, were high, in the late 1970s. It is shown that the results of the recent period are more sustainable than those of the earlier period, due to the differences in the nature of capital inflows, in external conditions, and in economic policies.

Author : G. Bird
Publisher : Springer
Page : 317 pages
File Size : 42,7 Mb
Release : 2003-12-19
Category : Business & Economics
ISBN : 9780230599840

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International Finance and The Developing Economies by G. Bird Pdf

There are many challenges facing the economies of developing countries. Capital volatility, financial crises, aid, debt and the IMF are all issues that have received a great deal of attention over recent years. In International Finance and The Developing Economies , Graham Bird provides an essentially non-technical discussion of these issues, examining the underlying political economy and discussing the policy alternatives that are available.

Author : Vittorio Corbo,Stanley Fischer
Publisher : World Bank Publications
Page : 42 pages
File Size : 52,8 Mb
Release : 1991
Category : Ajuste economico
ISBN : 9789609301329

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Adjustment Programs and Bank Support by Vittorio Corbo,Stanley Fischer Pdf

Adjustment should begin with policy and institutional reforms to deal with the ultimate causes of any macroeconomic crisis a country is experiencing. Only when progress has been made in reducing inflation and fiscal and balance of payment deficits should other structural reforms begin - of the public sector, trade and competition, the financial sector, and the labor market.

Author : Mr.Gian Milesi-Ferretti,Mr.Philip R. Lane
Publisher : INTERNATIONAL MONETARY FUND
Page : 0 pages
File Size : 49,7 Mb
Release : 2011-08-01
Category : Business & Economics
ISBN : 1462304249

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External Adjustment and the Global Crisis by Mr.Gian Milesi-Ferretti,Mr.Philip R. Lane Pdf

After widening substantially in the period preceding the global financial crisis, current account imbalances across the world have contracted to a significant extent. This paper analyzes the factors underlying this process of external adjustment. It finds that countries whose pre-crisis current account balances were in excess of what could be explained by economic fundamentals have experienced the largest contractions in their external balance. External adjustment in deficit countries was achieved primarily through demand compression, rather than expenditure switching. Changes in other investment flows were the main channel of financial account adjustment, with official external assistance and ECB liquidity cushioning the exit of private capital flows for some countries.

Author : Luis Carlos Jemio M.
Publisher : Unknown
Page : 82 pages
File Size : 40,7 Mb
Release : 1993
Category : Balance of payments
ISBN : UCSD:31822016581712

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External Finance, Growth and Adjustment by Luis Carlos Jemio M. Pdf

Author : Anonim
Publisher : World Bank Publications
Page : 99 pages
File Size : 51,7 Mb
Release : 2024-06-30
Category : Electronic
ISBN : 9789609271141

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Fiscal Adjustment and Deficit Financing During the Debt Crisis by Anonim Pdf

Author : James M. Boughton,Domenico Lombardi
Publisher : Oxford University Press
Page : 330 pages
File Size : 51,7 Mb
Release : 2009-06-25
Category : Business & Economics
ISBN : 9780199239863

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Finance, Development, and the IMF by James M. Boughton,Domenico Lombardi Pdf

An interdisciplinary collection of essays from leading academics and experts addressing how the IMF can support economic growth, poverty reduction, and macroeconomic stability in the world's poorest regions.

Author : Maurice Obstfeld
Publisher : Unknown
Page : 64 pages
File Size : 44,9 Mb
Release : 2004
Category : Balance of trade
ISBN : UCSD:31822021212253

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External Adjustment by Maurice Obstfeld Pdf

"Gross stocks of foreign assets have increased rapidly relative to national outputs since 1990, and the short-run capital gains and losses on those assets can amount to significant fractions of GDP. These fluctuations in asset values render the national income and product account measure of the current account balance increasingly inadequate as a summary of the change in a country's net foreign assets. Nonetheless, unusually large current account imbalances, especially deficits, should remain high on policymakers' list of concerns, even for the richer and less credit-constrained countries. Extreme imbalances signal the need for large and perhaps abrupt real exchange rate changes in the future, changes that might have undesired political and financial consequences given the incompleteness of domestic and international asset markets. Furthermore, of the two sources of the change in net foreign assets -- the current account and the capital gain on the net foreign asset position -- the former is better understood and more amenable to policy influence. Systematic government attempts to manipulate international asset values in order to change the net foreign asset position could have a destabilizing effect on market expectations"--NBER website

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 116 pages
File Size : 40,9 Mb
Release : 2019-07-17
Category : Business & Economics
ISBN : 9781498322751

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External Sector Report, July 2019 by International Monetary Fund. Monetary and Capital Markets Department Pdf

The IMF’s 2019 External Sector Report shows that global current account balances stand at about 3 percent of global GDP. Of this, about 35–45 percent are now deemed excessive. Meanwhile, net credit and debtor positions are at historical peaks and about four times larger than in the early 1990s. Short-term financing risks from the current configuration of external imbalances are generally contained, as debtor positions are concentrated in reserve-currency-issuing advanced economies. An intensification of trade tensions or a disorderly Brexit outcome—with further repercussions for global growth and risk aversion—could, however, affect other economies that are highly dependent on foreign demand and external financing. With output near potential in most systemic economies, a well-calibrated macroeconomic and structural policy mix is necessary to support rebalancing. Recent trade policy actions are weighing on global trade flows, investment, and growth, including through confidence effects and the disruption of global supply chains, with no discernible impact on external imbalances thus far.

Author : Mr.Fabio Ghironi,Mr.Jaewoo Lee,Mr.Alessandro Rebucci
Publisher : International Monetary Fund
Page : 46 pages
File Size : 53,9 Mb
Release : 2009-12-01
Category : Business & Economics
ISBN : 9781451874204

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The Valuation Channel of External Adjustment by Mr.Fabio Ghironi,Mr.Jaewoo Lee,Mr.Alessandro Rebucci Pdf

International financial integration has greatly increased the scope for changes in a country's net foreign asset position through the valuation channel, namely capital gains and losses on external assets and liabilities. We examine this valuation channel in a dynamic equilibrium portfolio model with international trade in equity. By separating asset prices and quantities, we can characterize the first-order dynamics of valuation effects and the current account in macroeconomic dynamics. Specifically, we disentangle the roles of excess returns, capital gains, and portfolio adjustment for consumption risk sharing when financial markets are incomplete.

Author : D.E. Fair,C. de Boissieu
Publisher : Springer Science & Business Media
Page : 389 pages
File Size : 55,6 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9789400908710

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The International Adjustment Process by D.E. Fair,C. de Boissieu Pdf

The papers collected in this volume are those presented at the fourteenth Colloquium arranged by the Societe Universitaire Europeenne de Recher ches Financieres (SUERF), which took place in Helsinki in May 1988. The Society is supported by a large number of central banks and commercial banks, by other financial and business institutions and by personal subscriptions from academics and others interested in monetary and financial problems. Since its establishment in 1963 it has developed as a forum for the exchange of information, research results and ideas among academics and practitioners in these fields, including central bank officials and civil servants responsible for formulating and applying monetary and financial policies, national and international. A major activity of SUERF is to organise and conduct Colloquia on subjects of topical interest to its members. The titles, places and dates of previous Colloquia for which volumes of the collected papers were published are noted, on the last page of this volume. Volumes were not produced for Colloquia held at Tarragona, Spain in October 1970 under the title "Monetary Policy and New Developments in Banking" and at Strasbourg, France in January 1972 under the title "Aspects of European Monetary Union".