Financial Liberalization Structural Change And Real Exchange Rate Appreciations

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Financial Liberalization, Structural Change, and Real Exchange Rate Appreciations

Carlos Urrutia,Felipe Meza
Financial Liberalization Structural Change and Real Exchange Rate Appreciations Book PDF

Author : Carlos Urrutia,Felipe Meza
Publisher : International Monetary Fund
Page : 42 pages
File Size : 45,8 Mb
Release : 2010-03-01
Category : Business & Economics
ISBN : 9781451982077

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Financial Liberalization, Structural Change, and Real Exchange Rate Appreciations by Carlos Urrutia,Felipe Meza Pdf

We account for the appreciation of the real exchange rate in Mexico between 1988 and 2002 using a two sector dynamic general equilibrium model of a small open economy with two driving forces: (i) differential productivity growth across sectors and (ii) a decline in the cost of borrowing in foreign markets. These two mechanisms account for 60 percent of the decline in the relative price of tradable goods and explain a large fraction of the reallocation of labor across sectors. We do not find a significant role for migration remittances, foreign reserves accumulation, government spending, terms of trade, or import tariffs.

Capital Accumulation and Migration

Dennis C. Canterbury
Capital Accumulation and Migration Book PDF

Author : Dennis C. Canterbury
Publisher : BRILL
Page : 283 pages
File Size : 53,6 Mb
Release : 2012-08-01
Category : Social Science
ISBN : 9789004230385

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Capital Accumulation and Migration by Dennis C. Canterbury Pdf

In Capital Accumulation and Migration Dennis C. Canterbury explores the subject of capital accumulation and migration under neoliberal capitalism.

Economics—Advances in Research and Application: 2012 Edition

Anonim
Economics Advances in Research and Application 2012 Edition Book PDF

Author : Anonim
Publisher : ScholarlyEditions
Page : 1468 pages
File Size : 42,5 Mb
Release : 2012-12-26
Category : Business & Economics
ISBN : 9781464990731

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Economics—Advances in Research and Application: 2012 Edition by Anonim Pdf

Economics—Advances in Research and Application: 2012 Edition is a ScholarlyEditions™ eBook that delivers timely, authoritative, and comprehensive information about Economics. The editors have built Economics—Advances in Research and Application: 2012 Edition on the vast information databases of ScholarlyNews.™ You can expect the information about Economics in this eBook to be deeper than what you can access anywhere else, as well as consistently reliable, authoritative, informed, and relevant. The content of Economics—Advances in Research and Application: 2012 Edition has been produced by the world’s leading scientists, engineers, analysts, research institutions, and companies. All of the content is from peer-reviewed sources, and all of it is written, assembled, and edited by the editors at ScholarlyEditions™ and available exclusively from us. You now have a source you can cite with authority, confidence, and credibility. More information is available at http://www.ScholarlyEditions.com/.

Inflation Targeting and Exchange Rate Management In Less Developed Countries

Mr. Marco Airaudo
Inflation Targeting and Exchange Rate Management In Less Developed Countries Book PDF

Author : Mr. Marco Airaudo
Publisher : International Monetary Fund
Page : 65 pages
File Size : 55,5 Mb
Release : 2016-03-08
Category : Business & Economics
ISBN : 9781475523164

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Inflation Targeting and Exchange Rate Management In Less Developed Countries by Mr. Marco Airaudo Pdf

We analyze coordination of monetary and exchange rate policy in a two-sector model of a small open economy featuring imperfect substitution between domestic and foreign financial assets. Our central finding is that management of the exchange rate greatly enhances the efficacy of inflation targeting. In a flexible exchange rate system, inflation targeting incurs a high risk of indeterminacy where macroeconomic fluctuations can be driven by self-fulfilling expectations. Moreover, small inflation shocks may escalate into much larger increases in inflation ex post. Both problems disappear when the central bank leans heavily against the wind in a managed float.

Routledge Library Editions: Financial Markets

Various
Routledge Library Editions Financial Markets Book PDF

Author : Various
Publisher : Routledge
Page : 5571 pages
File Size : 41,7 Mb
Release : 2021-07-09
Category : Business & Economics
ISBN : 9781351333597

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Routledge Library Editions: Financial Markets by Various Pdf

The volumes in this set, originally published between 1970 and 1996, draw together research by leading academics in the area of economic and financial markets, and provide a rigorous examination of related key issues. The volumes examine the stock exchange, capital cities as financial centres, international capital, the financial system, bond duration, security market indices and artificial intelligence applications on Wall Street, whilst also exploring the general principles and practices of financial markets in various countries. This set will be of particular interest to students of economics and finance respectively.

NBER Macroeconomics Annual 1995

Ben S. Bernanke,Julio Rotemberg
NBER Macroeconomics Annual 1995 Book PDF

Author : Ben S. Bernanke,Julio Rotemberg
Publisher : MIT Press
Page : 364 pages
File Size : 43,9 Mb
Release : 1996
Category : Business & Economics
ISBN : 0262522055

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NBER Macroeconomics Annual 1995 by Ben S. Bernanke,Julio Rotemberg Pdf

Contents : Wage Inequality and Regional Unemployment Persistence: U.S. vs. Europe, Guiseppe BErtola and Andreas Ichino. Capital Utilization and Returns to Scale, Craig Burnside, Martin Eichenbaum, and Sergio Rebelo. Banks and Derivatives, Gary Gorton and Richard Rosen. Exchange-Rate-Based Stabilizations: Theory and Evidence, Sergio Rebelo and Carlos Vegh. Inflation Indicators and Inflation Policy, Stephen Cecchetti. Recent Central Bank Reforms and the Role of Price Stability as the Sole Objective of Monetary Policy, Carl Walsh. Is Central Bank Independence (and Low Inflation) the Result of Effective Financial Opposition to Inflation?, Adam Posen. The Unending Quest for Monetary Salvation, Stanley Fischer.

Macroeconomic and Structural Adjustment Policies in Zimbabwe

Clever Mumbengegwi
Macroeconomic and Structural Adjustment Policies in Zimbabwe Book PDF

Author : Clever Mumbengegwi
Publisher : Springer
Page : 322 pages
File Size : 42,7 Mb
Release : 2001-12-17
Category : Business & Economics
ISBN : 9780230391048

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Macroeconomic and Structural Adjustment Policies in Zimbabwe by Clever Mumbengegwi Pdf

The policy relevant analysis of this volume examines nearly twenty years of Zimbabwe's macroeconomic and structural adjustment experiences since independence. Part One analyses the impact on economic growth, inflation, employment and labour markets. Part Two deals with financial liberalization, and the financial turmoil and currency crisis experienced in the wake of reforms. Part Three examines trade liberalization and its impact on investment and income distribution. Part Four gives sectoral perspectives on the agricultural, manufacturing and health sectors.

Changes in Exchange Rates in Rapidly Developing Countries

Takatoshi Ito,Anne O. Krueger
Changes in Exchange Rates in Rapidly Developing Countries Book PDF

Author : Takatoshi Ito,Anne O. Krueger
Publisher : University of Chicago Press
Page : 466 pages
File Size : 47,7 Mb
Release : 2007-12-01
Category : Business & Economics
ISBN : 9780226386935

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Changes in Exchange Rates in Rapidly Developing Countries by Takatoshi Ito,Anne O. Krueger Pdf

The exchange rate is a crucial variable linking a nation's domestic economy to the international market. Thus choice of an exchange rate regime is a central component in the economic policy of developing countries and a key factor affecting economic growth. Historically, most developing nations have employed strict exchange rate controls and heavy protection of domestic industry-policies now thought to be at odds with sustainable and desirable rates of economic growth. By contrast, many East Asian nations maintained exchange rate regimes designed to achieve an attractive climate for exports and an "outer-oriented" development strategy. The result has been rapid and consistent economic growth over the past few decades. Changes in Exchange Rates in Rapidly Developing Countries explores the impact of such diverse exchange control regimes in both historical and regional contexts, focusing particular attention on East Asia. This comprehensive, carefully researched volume will surely become a standard reference for scholars and policymakers.

The Politics of Finance in Developing Countries

Stephan Haggard,Sylvia Maxfield,Chung H. Lee
The Politics of Finance in Developing Countries Book PDF

Author : Stephan Haggard,Sylvia Maxfield,Chung H. Lee
Publisher : Cornell University Press
Page : 351 pages
File Size : 45,9 Mb
Release : 2019-05-15
Category : Political Science
ISBN : 9781501744495

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The Politics of Finance in Developing Countries by Stephan Haggard,Sylvia Maxfield,Chung H. Lee Pdf

Ten original essays examine the political and institutional factors that influence the initiation and efficiency of preferential credit policies in Korea, Taiwan, Thailand, Indonesia, the Philippines, Chile, Mexico, and Brazil.

Structure and Structural Change in the Chilean Economy

P. Aroca,G. Hewings
Structure and Structural Change in the Chilean Economy Book PDF

Author : P. Aroca,G. Hewings
Publisher : Springer
Page : 296 pages
File Size : 47,6 Mb
Release : 2006-07-28
Category : Business & Economics
ISBN : 9780230239654

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Structure and Structural Change in the Chilean Economy by P. Aroca,G. Hewings Pdf

This book explores the macroeconomic changes in Chilean economics, complementing this with detailed sectoral evaluation and an analysis of the impacts at regional level. Evidence suggests a need to explore the degree to which economic development has or has not contributed to reducing disparities in level of welfare across the country.

Exchange Rate Economics

Peter Isard
Exchange Rate Economics Book PDF

Author : Peter Isard
Publisher : Cambridge University Press
Page : 298 pages
File Size : 51,7 Mb
Release : 1995-09-28
Category : Business & Economics
ISBN : 0521466008

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Exchange Rate Economics by Peter Isard Pdf

This book describes and evaluates the literature on exchange rate economics. It provides a wide-ranging survey, with background on the history of international monetary regimes and the institutional characteristics of foreign exchange markets, an overview of the development of conceptual and empirical models of exchange rate behavior, and perspectives on the key issues that policymakers confront in deciding whether, and how, to try to stabilize exchange rates. The treatment of most topics is reasonably compact, with extensive references to the literature for those desiring to pursue individual topics further. The level of exposition is relatively easy to comprehend; the historical and institutional material (part I) and the discussion of policy issues (part III) contain no equations or technical notation, while the chapters on models of exchange rate behavior (part II) are written at a level intelligible to first-year graduate students or advanced undergraduates. The book will enlighten both students and policymakers, and should also serve as a valuable reference for many research economists.

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 : 44,8 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.

Global Monetary and Economic Convergence

Gusztáv Báger,Miklós Szabó-Pelsóczi
Global Monetary and Economic Convergence Book PDF

Author : Gusztáv Báger,Miklós Szabó-Pelsóczi
Publisher : Routledge
Page : 488 pages
File Size : 51,6 Mb
Release : 2018-12-21
Category : Business & Economics
ISBN : 9780429851278

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Global Monetary and Economic Convergence by Gusztáv Báger,Miklós Szabó-Pelsóczi Pdf

Published in 1998. Global convergence has many aspects. The first part of this volume deals with European convergence, the second with convergence especially between Eastern and Western Europe. The third part with practical and the fourth with theoretical issues related to Global Convergence. The last part juxtaposes Hayekian and Triffian economic thought. The first of these, the Hayekian relies exclusively on the profit motive of the only arbiter of the economic decision-making. The Triffians thought insists that satisfactory balances can be brought about only through racial negotiation among market participants within countries and on a global scale. The Hayek-Triffin juxtaposition gains particular importance at a time when capital mobility, labour and social mobility have reached hitherto new levels on a global scale and this challenges social coherence. This difference will put social coherence under unusual stress. The solution of the problems created will be the greatest challenge to economic, social and political statemanship during the 21st century.

Capital Controls and Capital Flows in Emerging Economies

Sebastian Edwards
Capital Controls and Capital Flows in Emerging Economies Book PDF

Author : Sebastian Edwards
Publisher : University of Chicago Press
Page : 699 pages
File Size : 43,7 Mb
Release : 2009-02-15
Category : Business & Economics
ISBN : 9780226184999

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Capital Controls and Capital Flows in Emerging Economies by Sebastian Edwards Pdf

Some scholars argue that the free movement of capital across borders enhances welfare; others claim it represents a clear peril, especially for emerging nations. In Capital Controls and Capital Flows in Emerging Economies, an esteemed group of contributors examines both the advantages and the pitfalls of restricting capital mobility in these emerging nations. In the aftermath of the East Asian currency crises of 1997, the authors consider mechanisms that eight countries have used to control capital inflows and evaluate their effectiveness in altering the maturity of the resulting external debt and reducing macroeconomic vulnerability. This volume is essential reading for all those interested in emerging nations and the costs and benefits of restricting international capital flows.

Capital Ideas

Jeffrey M. Chwieroth
Capital Ideas Book PDF

Author : Jeffrey M. Chwieroth
Publisher : Princeton University Press
Page : 332 pages
File Size : 50,5 Mb
Release : 2009-12-14
Category : Business & Economics
ISBN : 9781400833825

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Capital Ideas by Jeffrey M. Chwieroth Pdf

The right of governments to employ capital controls has always been the official orthodoxy of the International Monetary Fund, and the organization's formal rules providing this right have not changed significantly since the IMF was founded in 1945. But informally, among the staff inside the IMF, these controls became heresy in the 1980s and 1990s, prompting critics to accuse the IMF of indiscriminately encouraging the liberalization of controls and precipitating a wave of financial crises in emerging markets in the late 1990s. In Capital Ideas, Jeffrey Chwieroth explores the inner workings of the IMF to understand how its staff's thinking about capital controls changed so radically. In doing so, he also provides an important case study of how international organizations work and evolve. Drawing on original survey and archival research, extensive interviews, and scholarship from economics, politics, and sociology, Chwieroth traces the evolution of the IMF's approach to capital controls from the 1940s through spring 2009 and the first stages of the subprime credit crisis. He shows that IMF staff vigorously debated the legitimacy of capital controls and that these internal debates eventually changed the organization's behavior--despite the lack of major rule changes. He also shows that the IMF exercised a significant amount of autonomy despite the influence of member states. Normative and behavioral changes in international organizations, Chwieroth concludes, are driven not just by new rules but also by the evolving makeup, beliefs, debates, and strategic agency of their staffs.