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How should emerging economies manage their foreign exchange reserves?

Gupta, Akash; Agarwal, Rahul - EconWPA - 2004

Asia has emerged as the balancing wheel of global finance. The countries of Asia now account for 70 per cent of global foreign exchange reserves, compared to only 30 percent in 1990 and 21 per cent in the early 1970s. This paper explores theoretical interpretations for the relatively high demand...

Persistent link: https://www.econbiz.de/10005119482

An approach to bank insolvency in transition and emerging economies

Mayes, David G. - EconWPA - 2004

In the light of the inequity of the way losses from bank insolvencies and their avoidance through intervention by the authorities have been distributed over creditors, depositors, owners and the population at large in transition and emerging economies, this paper explores a number of regulatory...

Persistent link: https://www.econbiz.de/10005134654

Collateral-Based Lending in Emerging Markets: Evidence from Thailand

Menkhoff, Lukas; Neuberger, Doris; Suwanaporn, Chodechai - EconWPA - 2005

This paper examines the role and determinants of collateral in emerging markets compared to mature ones. Analyzing a data set of 560 credit files of Thai commercial banks, we find that both the incidence and degree of collateralization are higher there than in developed markets. Thai banks use...

Persistent link: https://www.econbiz.de/10005134744

FINANCIAL GLOBALIZATION: SOME CONCEPTUAL PROBLEMS

Arestis, Philip; Basu, Santonu - EconWPA - 2003

financial globalization. To achieve true financial globalization, an important requirement is the creation of a worldwide single …

Persistent link: https://www.econbiz.de/10005408045

Globalization and Domestic Conflict

Garfinkel, Michelle R.; Skaperdas, Stergios; … - EconWPA - 2005

We examine how globalization affects trade patterns and welfare when conflict prevails domestically. We do so in a …

Persistent link: https://www.econbiz.de/10005408071

Globalization, Domestic Politics and Social Spending in Latin

Kaufman, Robert R.; Segura-Ubiergo, Alex - EconWPA - 2005

This paper analyzes the impact of globalization on social spending in Latin America. It shows that trade integration …

Persistent link: https://www.econbiz.de/10005412487

Taxation for the 21st Century: The Automated Payment Transaction (APT) Tax

Feige, Edgar L. - EconWPA - 2001

This paper examines the desirability and feasibility of replacing the present system of personal and corporate income, sales, excise, capital gains, import and export duties, gift and estate taxes with a single comprehensive revenue neutral Automated Payment Transaction (APT) tax. In its...

Persistent link: https://www.econbiz.de/10005412498

“THE THIN FILM OF GOLD”: THE LIMITS OF MONETARY COMMITMENTS

Schularick, Moritz; Ferguson, Niall - EconWPA - 2005

capital markets in the first era of financial globalization. To test whether the gold standard worked as a credible commitment …

Persistent link: https://www.econbiz.de/10005412741

INCOME CONVERGENCE DURING THE DISINTEGRATION OF THE WORLD ECONOMY 1919-39

Milanovic, Branko - EconWPA - 2003

Some economists have argued that the process of disintegration of the world economy between the two World Wars led to income divergence between the countries. This is in keeping with the view that economic integration leads to income convergence. The paper shows that the view that the period...

Persistent link: https://www.econbiz.de/10005076560

The Influence of Globalization on Taxes and Social Policy – an Empirical Analysis for OECD Countries

Dreher, Axel - EconWPA - 2003

Using panel regression for the period 1970-2000 the paper analyzes whether globalization has influenced the OECD … endogeneity of the regressors, the results show that globalization (measured by an index covering 23 variables) did not generally … decrease the leeway for independent economic policy. Globalization even increased implicit tax rates on capital (as calculated …

Persistent link: https://www.econbiz.de/10005076616