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During the last two decades of the twentieth century, Brazil went through a sequence of failed stabilization plans that tried to cope with an enduring hyperinflation. This paper uses a money demand model to evaluate monetary policies during those episodes. The consistency between the money...
Persistent link: https://www.econbiz.de/10005124863
An attempt to quantify possible negative effects of external crises in emerging market economies is made in this paper. The direct and indirect effects of the external crises, here sudden stops in capital flows and currency crises, are estimated and compounded into composite overall effects. In...
Persistent link: https://www.econbiz.de/10005408201
According to economic theory, the capital inflows reversal – so-called sudden stop – has a significant negative effect on economic growth. This paper investigates the direct impact of current account reversals on growth in Central and Eastern European countries. Two steps to conduct the...
Persistent link: https://www.econbiz.de/10005556614
The purpose of this paper is to reassess the standard Solow growth model,using a dynamic panel data approach. A new … methodology is chosen to deal with this problem. First, unit root tests for individual country time series were run. Second, panel … data unit root and cointegration tests were performed. Finally, the panel cointegration dynamics is estimated by DOLS …
Persistent link: https://www.econbiz.de/10005556713
sector development is the amount of bank credit allocated to the private sector as a share of GDP. According to our results … earlier empirical literature. In this paper, we analyse the finance-growth nexus using a fixed-effects panel model and … unbalanced panel data from 25 transition countries during the period 1993-2000. We measure the qualitative development in the …
Persistent link: https://www.econbiz.de/10005561315
Utilising panel data for 14 East European transition economies, we find support for the hypothesis that a greater … degree of export variety relative to the U.S. helps to explain relative per capita GDP levels. The empirical work relies upon …
Persistent link: https://www.econbiz.de/10005561365
happiness, and it can induct problems as well. GDP, a vague relation builder is used as an index to measure the progress and …
Persistent link: https://www.econbiz.de/10005408439
's approach to control other nations in the world,through unilateral Army power,tie up of domestic markets towards USA, and … Nation USA alone can perform the role of fighting threat to the world, lead the poor nations toward a free and democratic …
Persistent link: https://www.econbiz.de/10005556940
1999 to 2003.The total issues declined from LE 55.6 billion in 1999 or 17% of GDP and 146.7% of gross saving to LE 18 ….5 billion in 2003 and or 4.6% of GDP and 31.5% of gross saving .The total value of trading also dropped down from LE 42 ….1 billion or 12.9% of GDP and 111% of gross saving to LE33.7 billion or 8.3% of GDP and 57.2% of gross saving during the period …
Persistent link: https://www.econbiz.de/10005561577
of US currency. World dollarization partially resolves the “currency enigma” which refers to the anomaly that roughly 80 …. US currency that is used overseas suggests that there is a world wide unrecorded economy that could rival the size of the …
Persistent link: https://www.econbiz.de/10005076736