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Author : Haizhou Huang
Publisher : Unknown
Page : 23 pages
File Size : 51,5 Mb
Release : 2005
Category : Electronic
ISBN : OCLC:66657996
Author : Mr.Haizhou Huang,Shang-Jin Wei
Publisher : International Monetary Fund
Page : 30 pages
File Size : 41,8 Mb
Release : 2003-09-01
Category : Social Science
ISBN : 9781451859331
This paper examines the role of corruption in the design of monetary policies for developing countries in a framework of fiscal and monetary interaction and obtains several interesting results. First, pegged exchange rates, currency boards, or dollarization, while often prescribed as a solution to the problem of a lack of credibility for developing countries, is typically not credible in countries with serious corruption. Second, the optimal degree of conservatism for a Rogoff (1985)-type central banker is an inverse function of the corruption level. Third, either an optimally designed inflation target or an optimal-conservative central banker is preferable to an exchange rate peg, currency board, or dollarization.
Author : Eprime Eshag
Publisher : Cambridge University Press
Page : 316 pages
File Size : 43,5 Mb
Release : 1983
Category : Business & Economics
ISBN : 0521270499
Consideration on the use of fiscal and monetary policies in less developed countries to overcome the three sets of obstacles to development largely because of socio-political constraints. The three major obstacles to development are: inadequate investment; misallocation of investment resources; and internal and external imbalance i.e. inflation and balance of payments deficits.
Author : Silvio Borner,Frank Bodmer,Markus Kobler
Publisher : OECD Publishing
Page : 120 pages
File Size : 55,8 Mb
Release : 2004
Category : Business & Economics
ISBN : STANFORD:36105111354267
This publication discusses the impact of institutions on economic development and the determinants that shape institutional quality, using a new institutional economics (NIE) model based on a multidisciplinary approach to understanding issues including growth, efficiency and income distribution. Using the experience of Argentina under the Menem government as a case study, a methodology is developed and applied to test theoretical hypotheses regarding the concept of institutional quality and how delineation between economic and political institutions work in practice. It also considers systems of democracy and autocracy, and the impact of traditional, legal and cultural frameworks on institutional efficiency.
Author : Subrata Ghatak,José R. Sánchez-Fung
Publisher : Red Globe Press
Page : 324 pages
File Size : 45,6 Mb
Release : 2007-08
Category : Business & Economics
ISBN : STANFORD:36105123309556
This book is an introduction to monetary economics with a particular reference to issues relevant for developing economies.
Author : Jean-Marie Baland,François Bourguignon,Jean-Philippe Platteau,Thierry Verdier
Publisher : Princeton University Press
Page : 786 pages
File Size : 54,8 Mb
Release : 2020-01-21
Category : Business & Economics
ISBN : 9780691192017
The definitive reference on the most current economics of development and institutions The essential role that institutions play in understanding economic development has long been recognized across the social sciences, including in economics. Academic and policy interest in this subject has never been higher. The Handbook of Economic Development and Institutions is the first to bring together in one single volume the most cutting-edge work in this area by the best-known international economists. The volume’s editors, themselves leading scholars in the discipline, provide a comprehensive introduction, and the stellar contributors offer up-to-date analysis into institutional change and its interactions with the dynamics of economic development. This book focuses on three critical issues: the definitions of institutions in order to argue for a causal link to development, the complex interplay between formal and informal institutions, and the evolution and coevolution of institutions and their interactions with the political economy of development. Topics examined include the relationship between institutions and growth, educational systems, the role of the media, and the intersection between traditional systems of patronage and political institutions. Each chapter—covering the frontier research in its area and pointing to new areas of research—is the product of extensive workshopping on the part of the contributors. The definitive reference work on this topic, The Handbook of Economic Development and Institutions will be essential for academics, researchers, and professionals working in the field.
Author : Rashed Al Mahmud Titumir
Publisher : Routledge
Page : 302 pages
File Size : 40,7 Mb
Release : 2021-12-24
Category : Business & Economics
ISBN : 9781000511239
The COVID-19 crisis has fractured the pre-existing structural rigidities and institutional fragilities in the economies of developing countries more than ever, necessitating a rethinking of fiscal and monetary policies, the main vehicles for relief, recovery and reconstruction. This book examines the barriers to transformation in developing countries in the wake of the pandemic and analyses the paths to recovery based on an economic policymaking agenda. It juxtaposes fiscal and monetary policies and state-building from pre- and post-colonial periods to the present-day context. It employs an interdisciplinary approach and ventures beyond the well-rehearsed tendency to explain the state of developing countries by considering the experiences of advanced economies. The book utilises data on three levels: the aggregate level using world data, the single-country context with case studies and a cross-country assessment for comparative analysis. Further, the book critically assesses the relevance of different schools of thought and provides nuanced, thought-provoking theoretical apparatuses applicable to developing countries, as well as allowing the reader to undertake a country-specific analysis through the detailed historical country case studies undertaken in each chapter. Each chapter has a detailed and separate theoretical and empirical section for the ease of understanding of the key propositions in the book. The book will find an audience among scholars and researchers alike, who wish to gain a deeper understanding of the formulation of fiscal and monetary policies, specifically in developing countries. For policymakers and policy advocates, the book will serve as the groundwork for monetary and fiscal policies in the context of developing countries, providing more relevant instruments for transformational pathways.
Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 74 pages
File Size : 46,5 Mb
Release : 2015-10-23
Category : Business & Economics
ISBN : 9781498344067
Over the past two decades, many low- and lower-middle income countries (LLMICs) have improved control over fiscal policy, liberalized and deepened financial markets, and stabilized inflation at moderate levels. Monetary policy frameworks that have helped achieve these ends are being challenged by continued financial development and increased exposure to global capital markets. Many policymakers aspire to move beyond the basics of stability to implement monetary policy frameworks that better anchor inflation and promote macroeconomic stability and growth. Many of these LLMICs are thus considering and implementing improvements to their monetary policy frameworks. The recent successes of some LLMICs and the experiences of emerging and advanced economies, both early in their policy modernization process and following the global financial crisis, are valuable in identifying desirable features of such frameworks. This paper draws on those lessons to provide guidance on key elements of effective monetary policy frameworks for LLMICs.
Author : World Bank
Publisher : World Bank Publications
Page : 196 pages
File Size : 53,5 Mb
Release : 2002
Category : Developing countries
ISBN : 0195216075
'Institutions fix the confines of and impose form upon the activities of human beings.' --Walton Hamilton, 'Institutions', 1932. The 'World Development Report 2002: Building Institutions for Markets' undertakes the complex issue of the basic institutions needed for markets to function properly. This year's 'World Development Report' goes beyond a simple examination of institutional structure and explores the functions of institutions. Recognizing that one size does not fit all, the report asks what do all institutions which support markets do? The answer is simple: Institutions channel information, define and enforce property rights, and increase or prevent competition. Understanding the functions that current institutions and their proposed replacements would provide is the first step. The report contends that once you have identified the institutional functions that are missing, you can then build effective institutions by following some basic principles: - Complement what exists already - in terms of other supporting institutions, human capacities, and technology. - Innovate to suit local norms and conditions. Experimenting with new structures can provide a country with creative solutions that work. - Connect communities of market players through open information flows and open trade. Open trade and information flows create demand for new institutions and improve the functioning of existing structures. - Compete among jurisdictions, firms, and individuals. Increased competition creates demand for new institutions as old ones lose their effectiveness. It also affects how people behave - improving institutional quality. These broad lessons and careful analyses, which links theory with pertinent evidence, are provided in the report. 'World Development Report 2002: Building Institutions for Markets' contains selected 'World Development Indicators'.
Author : Jongrim Ha,M. Ayhan Kose,Franziska Ohnsorge
Publisher : World Bank Publications
Page : 513 pages
File Size : 51,9 Mb
Release : 2019-02-24
Category : Business & Economics
ISBN : 9781464813764
This is the first comprehensive study in the context of EMDEs that covers, in one consistent framework, the evolution and global and domestic drivers of inflation, the role of expectations, exchange rate pass-through and policy implications. In addition, the report analyzes inflation and monetary policy related challenges in LICs. The report documents three major findings: In First, EMDE disinflation over the past four decades was to a significant degree a result of favorable external developments, pointing to the risk of rising EMDE inflation if global inflation were to increase. In particular, the decline in EMDE inflation has been supported by broad-based global disinflation amid rapid international trade and financial integration and the disruption caused by the global financial crisis. While domestic factors continue to be the main drivers of short-term movements in EMDE inflation, the role of global factors has risen by one-half between the 1970s and the 2000s. On average, global shocks, especially oil price swings and global demand shocks have accounted for more than one-quarter of domestic inflation variatio--and more in countries with stronger global linkages and greater reliance on commodity imports. In LICs, global food and energy price shocks accounted for another 12 percent of core inflation variatio--half more than in advanced economies and one-fifth more than in non-LIC EMDEs. Second, inflation expectations continue to be less well-anchored in EMDEs than in advanced economies, although a move to inflation targeting and better fiscal frameworks has helped strengthen monetary policy credibility. Lower monetary policy credibility and exchange rate flexibility have also been associated with higher pass-through of exchange rate shocks into domestic inflation in the event of global shocks, which have accounted for half of EMDE exchange rate variation. Third, in part because of poorly anchored inflation expectations, the transmission of global commodity price shocks to domestic LIC inflation (combined with unintended consequences of other government policies) can have material implications for poverty: the global food price spikes in 2010-11 tipped roughly 8 million people into poverty.
Author : Constanze Dobler
Publisher : Peter Lang Gmbh, Internationaler Verlag Der Wissenschaften
Page : 0 pages
File Size : 49,5 Mb
Release : 2011
Category : Africa, North
ISBN : 3631616163
Regarding the Arab region, GDP per capita virtually stagnated for more than 20 years from 1980. During the same period, GDP per capita in the world's highly industrialized states further increased and the gap between the Middle East and North Africa (MENA) and the highly developed countries widened. However, the differences between Arab countries and the Western states exist not only economically. The countries also differ regarding their political, legal, and social systems. This work explains the differences in development on the basis of institutional economics. In addition to a general theoretical part, an empirical analysis demonstrates the effects of institutions on income, and a historical case study explains the divergent development paths of the Arab region and selected advanced economies.
Author : Subrata Ghatak,José R. Sánchez-Fung
Publisher : Bloomsbury Publishing
Page : 320 pages
File Size : 45,5 Mb
Release : 2017-09-16
Category : Business & Economics
ISBN : 9781137021571
This book highlights the basic principles of monetary economics and their application to developing countries. Fully illustrated, the new edition includes four entirely new chapters, with material on financial crises, the debates surrounding inflation targeting, and an examination of the role and future of financial institutions.
Author : Nezameddin Faghih
Publisher : Springer
Page : 446 pages
File Size : 50,9 Mb
Release : 2019-04-25
Category : Business & Economics
ISBN : 9783030143701
This book presents economic and socio-cultural perspectives on globalization from emerging markets. It explores the links between globalization and development, and reveals the dynamics, strengths and weaknesses, trends in and implications of globalization in emerging market economies. Gathering papers by leading experts in the field, it shares essential insights into the history and status quo of globalization processes and structures; identifies the opportunities provided by and risks posed by globalization; and sheds light on the way to global peace. The topics addressed range from globalization development within the Group of Twenty (G20), populist events such as “Brexit” as a form of historical irony, and a zeitgeist analysis of the globalization spirit; to the evolution of higher education and public administrative systems under the weight of globalization; not to mention emerging topics such as the informal economy and new rules for fleecing the South in the newly globalized trade system.
Author : Samuel K. Andoh
Publisher : Lexington Books
Page : 269 pages
File Size : 55,8 Mb
Release : 2014-10-15
Category : Business & Economics
ISBN : 9780739189542
The study of money, banking and financial markets is a required or very popular elective in most undergraduate and graduate programs in economics and finance in Africa. However, the textbooks used are those written primarily for the developed world such as the United States or the U.K. The result is that students graduate with excellent theoretical knowledge about the subject matter as it pertains to the developed economies, but lack the ability to apply the same knowledge to less developed economies. Although the subject matter of money and banking can be treated at a theoretical level, it is best done with institutions in mind. As an application oriented course, references and applications should, as much as possible, be to the conditions and institutions present in the environment where the subject is being studied and where the knowledge will be used, rather than to institutions that exist elsewhere in developed economies. The primary purpose of Essentials of Money, Banking and Financial Institutions is to provide a text in money, banking, and financial institutions in the context of the developing economies, especially Africa. Throughout the book, a deliberate effort will be made to focus the students’ attention on the need to develop the existing institutions so they can help to accelerate economic development.
Author : Pierre-Richard Agénor,Peter J. Montiel
Publisher : Princeton University Press
Page : 792 pages
File Size : 53,6 Mb
Release : 2015-06-23
Category : Business & Economics
ISBN : 9781400866267
The global financial crisis triggered severe shocks for developing countries, whose embrace of greater commercial and financial openness has increased their exposure to external shocks, both real and financial. This new edition of Development Macroeconomics has been fully revised to address the more open and less stable environment in which developing countries operate today. Describing the latest advances in this rapidly changing field, the book features expanded coverage of public debt and the management of capital inflows as well as new material on fiscal discipline, monetary policy regimes, currency, banking and sovereign debt crises, currency unions, and the choice of an exchange-rate regime. A new chapter on dynamic stochastic general equilibrium (DSGE) models with financial frictions has been added to reflect how the financial crisis has reshaped our thinking on the role of such frictions in generating and propagating real and financial shocks. The book also discusses the role of macroprudential regulation, both independently and through its interactions with monetary policy, in preserving financial and macroeconomic stability. Now in its fourth edition, Development Macroeconomics remains the definitive textbook on the macroeconomics of developing countries. The most authoritative book on the subject—now fully revised and expanded Features new material on fiscal discipline, monetary policy regimes, currency, banking and sovereign debt crises, and much more Comes with online supplements on informal financial markets, stabilization programs, the solution of DSGE models with financial frictions, and exchange rate crises
