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Staying Afloat When the Wind Shifts : External Factors and Emerging-Market Banking Crises

Eichengreen, Barry - 1998

We analyze banking crises using a panel of macroeconomic and financial data for more than one hundred developing countries from 1975 through 1992. We find that banking crises in emerging markets are strongly associated with adverse external conditions. In particular Northern interest rates are...

Persistent link: https://www.econbiz.de/10012472448

Do WTO Members have More Liberal Trade Policy?

Rose, Andrew K. - 2002

This paper uses 68 measures of trade policy and trade liberalization to ask if membership in theWorld Trade Organization (WTO) and its predecessor the General Agreement on Tariffs and Trade (GATT) is associated with more liberal trade policy. Almost no measures of trade policy are significantly...

Persistent link: https://www.econbiz.de/10012469358

Informality and Development

Porta, Rafael La - 2014

We establish five facts about the informal economy in developing countries. First, it is huge, reaching about half of the total in the poorest countries. Second, it has extremely low productivity compared to the formal economy: informal firms are typically small, inefficient, and run by poorly...

Persistent link: https://www.econbiz.de/10012458461

The Endogeneity of the Optimum Currency Area Criteria

Frankel, Jeffrey A. - 1996

A country's suitability for entry into a currency union depends on a number of economic conditions. These include, inter alia, the intensity of trade with other potential members of the currency union, and the extent to which domestic business cycles are correlated with those of the other...

Persistent link: https://www.econbiz.de/10012473138

After the Deluge : Do Fixed Exchange Rates Allow Inter-Temporal Volatility Tradeoffs?

Rose, Andrew K. - 1995

This paper addresses the issue of whether regimes of fixed exchange rates are a mechanism for shifting volatility inter- temporally. Using a panel of data covering twenty industrialized countries from 1959 through 1993, I examine the volatilities of a host of real and monetary variables....

Persistent link: https://www.econbiz.de/10012473658

Fixing Exchange Rates : A Virtual Quest for Fundamentals

Flood, Robert P. - 1993

Fixed exchange rates are less volatile than floating rates. But the volatility of macroeconomic variables such as money and output does not change very much across exchange rate regimes. This suggests that exchange rate models based only on macroeconomic fundamentals are unlikely to be very...

Persistent link: https://www.econbiz.de/10012474442

The Guarantees of Freedom

Porta, Rafael La - 2002

Hayek (1960) distinguishes the institutions of English freedom, which guarantee the independence of judges from political interference in the administration of justice, from those of American freedom, which allow judges to restrain law-making powers of the sovereign through constitutional...

Persistent link: https://www.econbiz.de/10012469956

Protectionism Isn't Counter‐Cyclic (anymore)

Rose, Andrew K. - 2012

. While that may have been a valid description of the data before the Second World War, it is now inaccurate. In the post …

Persistent link: https://www.econbiz.de/10012460597

Does Government Intervention Affect Banking Globalization?

Kleymenova, Anya - 2016

globalization along three dimensions: depth, breadth and persistence. We examine depth by studying whether a bank's preference for … country or nationalized banks from different countries, consistent with an impact on the breadth of globalization. Third, we … government interventions affect the depth and breadth of banking globalization, but may not persist after public interventions …

Persistent link: https://www.econbiz.de/10012456692

Currency Crashes in Emerging Markets : Empirical Indicators

Frankel, Jeffrey A. - 1996

We use a panel of annual data for over one hundred developing countries from 1971 through 1992 to characterize currency crashes. We define a currency crash as a large change of the nominal exchange rate that is also a substantial increase in the rate of change of nominal depreciation. We examine...

Persistent link: https://www.econbiz.de/10012473427