Search Results - subject:"sudden stop"

Output growth, capital flow reversals and sudden stop crises

Deb, Saubhik - 2005

This paper studies the effects of capital flow reversals and sudden stop crises on output growth and how these effects … contractionary in the developing countries and particularly in Asia and Africa. But neither capital flow reversals nor sudden stop … crises have any significant growth effect in the industrial countries. Our initial estimates for sudden stop crises support …

Persistent link: https://www.econbiz.de/10010266338

Fiscal Sustainability in Emerging Market Countries with an Application to Ecuador

Alvarado, Carlos Díaz; Izquierdo, Alejandro; Panizza, Ugo - 2004

This paper surveys the recent literature on fiscal sustainability, with particular emphasis on emerging market countries. It discusses the main elements that differentiate emerging market countries from industrial countries and then discusses how probabilistic models can help to evaluate fiscal...

Persistent link: https://www.econbiz.de/10010327194

Understanding the Recent Surge in the Accumulation of International Reserves

Vujanovic, Petar - Economics Department, Organisation de Coopération et … - 2011

This paper looks at the empirical determinates of foreign currency reserve holdings across a panel of around 130 countries between 1980 and 2008. The paper builds on the existing literature by adopting a panel error-correction model specification and by extending the sample to include the recent...

Persistent link: https://www.econbiz.de/10009024408

Economic Policy in Stormy Waters: Financial Vulnerability in Emerging Economies

Calvo, Guillermo A. - In: Journal of Applied Economics IV (2001) May, pp. 1-25

I. Introduction II. Time Inconsistency III. The Origins of Financial Crises IV. The Nature of Financial Crises V. Emerging Bond Markets VI. National Economic Policy Proposals VII. International Economic Policy Proposals VIII. Alternative Monetary Rules IX. Conclusions

Persistent link: https://www.econbiz.de/10005627085

Understanding Financial Crises: Some Implications for Financial and Debt Policy

Calvo, Guillermo A. - Inter-American Development Bank - 2009

The central objective of this discussion paper is to present a simple explanation of recent financial crises and, on that basis, to discuss some policy options for individual countries. Systemic policies are not discussed. More emphasis is put on understanding the nature of these crises than on...

Persistent link: https://www.econbiz.de/10009323974

Total Factor Productivity and Labor Reallocation: The Case of the Korean 1997 Crisis

Benjamin, David; Meza, Felipe - In: Advances in Macroeconomics 9 (2009) 1, pp. 1625-1625

In recent research on financial crises, large exogenous shocks to total factor productivity (TFP) are used as the driving force accounting for large output falls. TFP fell 3% after the Korean 1997 financial crisis. We find evidence that the large fall in TFP is mostly due to a sectoral...

Persistent link: https://www.econbiz.de/10005046368

Post liberalization global financial crises: Comparison with 2006-2007 fluctuations

BAŞTAV, Leyla - In: Iktisat Isletme ve Finans 24 (2009) 276, pp. 98-115

vulnerabilities have brought sudden stop, self-fulfilling prophecies further fuelling outflows with worsening expectations. In the new … global structure, crises mostly stem from financial markets, money market imbalances, self-fulfilling prophecy and sudden … stop. Enhanced supervision in financial markets, considering macroeconomic policies’ effect on markets and curbing capital …

Persistent link: https://www.econbiz.de/10005677146

On Balance of Payments Crisis in Serbia: if it ain’t broken, why fixing it might still be a good idea?

Malovic, Marko - In: Economic Analysis 41 (2008), pp. 24-47

is at the verge of balance of payments crisis. It is most likely going to unravel as a sudden stop phenomenon, after …

Persistent link: https://www.econbiz.de/10010969067

Financial Stability, the Trilemma, and International Reserves

Obstfeld, Maurice; Shambaugh, Jay C; Taylor, Alan M. - C.E.P.R. Discussion Papers - 2008

The rapid growth of international reserves|a development concentrated in the emerging markets|remains a puzzle. In this paper we suggest that a model based on financial stability and financial openness goes far toward explaining reserve holdings in the modern era of globalized capital markets....

Persistent link: https://www.econbiz.de/10005661901

Output Growth, Capital Flow Reversals and Sudden stop Crises

Deb, Saubhik - Department of Economics, Rutgers University-New Brunswick - 2006

Persistent link: https://www.econbiz.de/10005800424