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Burger, John D. - 2010

We assess the development of local currency bond markets in emerging market economies (EMEs). Supported by policies and laws that helped to improve macroeconomic stability and creditor rights, many local currency EME bond markets have grown substantially over the past decade and have also...

Persistent link: https://www.econbiz.de/10012462406

The "Other" Imbalance and the Financial Crisis

Caballero, Ricardo J. - 2010

the U.S. would experience a sudden stop of capital flows, which would unavoidably drag the world economy into a deep … of exposing the economy to a systemic panic. This structural problem can be alleviated if governments around the world … instead that the root imbalance was of a different kind: The entire world had an insatiable demand for safe debt instruments …

Persistent link: https://www.econbiz.de/10012463014

Financial Globalization, Financial Crises and Contagion

Mendoza, Enrique G. - 2009

financial institutions and asset markets. Using an open-economy model where financial intermediaries play a central role, we …

Persistent link: https://www.econbiz.de/10012463217

Does Openness to International Financial Flows Raise Productivity Growth?

Kose, M. Ayhan - 2008

Economic theory has identified a number of channels through which openness to international financial flows could raise productivity growth. However, while there is a vast empirical literature analyzing the impact of financial openness on output growth, far less attention has been paid to its...

Persistent link: https://www.econbiz.de/10012464090

Global Business Cycles : Convergence or Decoupling?

Kose, M. Ayhan - 2008

This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups -- industrial countries, emerging markets, and other developing economies. Using a dynamic factor model, we then decompose...

Persistent link: https://www.econbiz.de/10012464278

Determinants of Deposit-Insurance Adoption and Design

Demirguc-Kunt, Asli - 2007

This paper identifies factors that influence decisions about a country's financial safety net, using a comprehensive dataset covering 180 countries during the 1960-2003 period. Our analysis focuses on how private interest-group pressures, outside influences, and political-institutional factors...

Persistent link: https://www.econbiz.de/10012465794

Contingent Reserves Management : An Applied Framework

Caballero, Ricardo J. - 2004

One of the most serious problems that a central bank in an emerging market economy can face, is the sudden reversal of …

Persistent link: https://www.econbiz.de/10012467904

Inflation Targeting and Sudden Stops

Caballero, Ricardo J. - 2003

Emerging economies experience sudden stops in capital inflows. As we have argued in Caballero and Krishnamurthy (2002), having access to monetary policy during these sudden stops is useful, but mostly for insurance' rather than for aggregate demand reasons. In this environment, a central bank...

Persistent link: https://www.econbiz.de/10012469099

How Country and Safety-Net Characteristics Affect Bank Risk-Shifting

Hovakimian, Armen - 2002

insurance has had adverse effects in environments that are low in political and economic freedom and high in corruption …

Persistent link: https://www.econbiz.de/10012469384

Why Should Emerging Economies Give up National Currencies : A Case for 'Institutions Substitution'

Mendoza, Enrique G. - 2002

explosive mix of lack of policy credibility and world capital market imperfections that afflict emerging economies with national …

Persistent link: https://www.econbiz.de/10012469764