Similar Search Results

Domestic Institutions and the Bypass Effect of Financial Globalization

Ju, Jiandong; Wei, Shang-Jin - C.E.P.R. Discussion Papers - 2007

, corporate governance, and property rights protection - and patterns of international capital flows. It studies conditions under … poor corporate governance in a country may be completely bypassed by two-way capital flows in which domestic savings leave … effect is ambiguous for a developing country with an inefficient financial sector/poor corporate governance. However, the net …

Persistent link: https://www.econbiz.de/10005789081

A Faith-based Initiative: Does a Flexible Exchange Rate Regime Really Facilitate Current Account Adjustment?

Chinn, Menzie David; Wei, Shang-Jin - C.E.P.R. Discussion Papers - 2008

The assertion that a flexible exchange rate regime would facilitate current account adjustment is often repeated in policy circles. In this paper, we compile a data set encompassing data for over 170 countries over the 1971-2005 period, and examine whether the rate of current account reversion...

Persistent link: https://www.econbiz.de/10005123904

Financial Globalization and Economic Policies

Kose, Ayhan; Prasad, Eswar; Rogoff, Kenneth; Wei, Shang-Jin - C.E.P.R. Discussion Papers - 2009

We review the large literature on various economic policies that could help developing economies effectively manage the process of financial globalization. Our central findings indicate that policies promoting financial sector development, institutional quality and trade openness appear to help...

Persistent link: https://www.econbiz.de/10005136699

Assessing China’s Exchange Rate Regime

Frankel, Jeffrey A; Wei, Shang-Jin - C.E.P.R. Discussion Papers - 2007

This paper examines two related issues: (a) the implicit methodology used by the U.S. Treasury in determining whether China and its other trading partners manipulate their exchange rates, and (b) the nature of the Chinese exchange rate regime since July 2005. On the first issue, we investigate...

Persistent link: https://www.econbiz.de/10005114394

On the connection between intra-temporal and intertemporal trade

Ju, Jiandong; Shi, Kang; Wei, Shang-Jin - C.E.P.R. Discussion Papers - 2012

Sticky (or slow-adjusting) current accounts are observed for many countries. This paper explores the role of domestic factor market flexibility in understanding the phenomenon. To do so, we consider multiple tradable sectors with different factor intensities and allow substitution between...

Persistent link: https://www.econbiz.de/10011083600

A Darwinian Perspective on "Exchange Rate Undervaluation"

Du, Qingyuang; Wei, Shang-Jin - C.E.P.R. Discussion Papers - 2012

Though the real exchange rate is a key price for most economies, our understanding of its determinants is still incomplete. This paper studies the implications of status competition in the marriage market for the real exchange rate. In theory, a rise in the sex ratio (increasing relative surplus...

Persistent link: https://www.econbiz.de/10011083634

Trade Reforms and Current Account Imbalances: When Does the General Equilibrium Effect Overturn a Partial Equilibrium Intuition?

Ju, Jiandong; Shi, Kang; Wei, Shang-Jin - C.E.P.R. Discussion Papers - 2013

In partial equilibrium, a reduction in import barriers may be thought to lead to an increase in imports and a reduction in trade surplus. However, the general equilibrium effect can go in the opposite direction. We study how trade reforms affect current accounts by embedding a modified...

Persistent link: https://www.econbiz.de/10011084142

Does Trade Globalization Induce or Inhibit Corporate Transparency? Unbundling the Growth Potential and Product Market Competition Channels

Tong, Hui; Wei, Shang-Jin - C.E.P.R. Discussion Papers - 2012

How does increasing globalization affect corporate transparency? Freer trade represents two facets and in theory has … ambiguous effects on corporate transparency. On the one hand, by exposing firms to more product market competition, it could … separate estimation of the two potentially opposing channels. We employ three different measures of corporate transparency and …

Persistent link: https://www.econbiz.de/10011083813

The Misfortune of Non-financial Firms in a Financial Crisis: Disentangling Finance and Demand Shocks

Tong, Hui; Wei, Shang-Jin - C.E.P.R. Discussion Papers - 2009

If a non-financial firm does not do well in a financial crisis, it could be due to either a contraction of demand for its output or a contraction of supply of external finance. We propose a framework to assess the relative importance of the two shocks, making use of a measure of a firm's...

Persistent link: https://www.econbiz.de/10005661997