Narrow search
Showing 1 - 10 of 107
Cover Image
India's Approach to Capital Account Liberalization
Prasad, Eswar - Institute for the Study of Labor (IZA) - 2009
In this paper, I analyze India's approach to capital account liberalization through the lens of the new literature on … financial globalization. India's authorities have taken a cautious and calibrated path to capital account opening, which has … the key challenge now facing India's policymakers on this front. …
Persistent link: https://www.econbiz.de/10005703471
Cover Image
Foreign Capital and Economic Growth
Prasad, Eswar; Rajan, Raghuram G.; Subramanian, Arvind - Institute for the Study of Labor (IZA) - 2007
We document the recent phenomenon of "uphill" flows of capital from nonindustrial to industrial countries and analyze whether this pattern of capital flows has hurt growth in nonindustrial economies that export capital. Surprisingly, we find that there is a positive correlation between current...
Persistent link: https://www.econbiz.de/10005233751
Cover Image
Role Reversal in Global Finance
Prasad, Eswar - Institute for the Study of Labor (IZA) - 2011
I document that emerging markets have cast off their "original sin" – their external liabilities are no longer dominated by foreign-currency debt and have instead shifted sharply towards direct investment and portfolio equity. Their external assets are increasingly concentrated in foreign...
Persistent link: https://www.econbiz.de/10009325444
Cover Image
An Awkward Dance: China and the United States
Prasad, Eswar; Gu, Grace - Institute for the Study of Labor (IZA) - 2009
China and the U.S. have a close but complicated economic relationship. This note provides a fuller picture of the tightening embrace between the two countries – in terms of flows of goods and services, financial capital and people – and discusses the potential flashpoints in this...
Persistent link: https://www.econbiz.de/10008632742
Cover Image
The Role of Demographics in Precipitating Crises in Financial Institutions
Macunovich, Diane - Institute for the Study of Labor (IZA) - 2009
There are significant effects of changing demographics on economic indicators: growth in GDP especially, but also the current account balance and gross capital formation. The 15-24 age group appears to be one of the key age groups in these effects, with increases in that age group exerting...
Persistent link: https://www.econbiz.de/10008565208
Cover Image
Where Has All the Money Gone? Foreign Aid and the Quest for Growth
Chatterjee, Santanu; Giuliano, Paola; Kaya, Ilker - Institute for the Study of Labor (IZA) - 2007
This paper examines fungibility as a possible explanation for the "missing link" between foreign aid and economic growth. The composition of aid plays a crucial role in determining the composition of government spending and, consequently, the magnitude of fungibility and its impact on growth....
Persistent link: https://www.econbiz.de/10005703140
Cover Image
A Pragmatic Approach to Capital Account Liberalization
Prasad, Eswar; Rajan, Raghuram G. - Institute for the Study of Labor (IZA) - 2008
Cross-country regressions suggest little connection from foreign capital inflows to more rapid economic growth for developing countries and emerging markets. This suggests that the lack of domestic savings is not the primary constraint on growth in these economies, as implicitly assumed in the...
Persistent link: https://www.econbiz.de/10005703740
Cover Image
Southern African Economic Integration: Evidence from an Augmented Gravity Model
Warin, Thierry; Wunnava, Phanindra V.; Tengia, Optat; … - Institute for the Study of Labor (IZA) - 2009
This paper investigates the feasibility of creating a common-currency union consisting of 16 countries in Southern Africa. We estimate an augmented-gravity model that includes public deficit, public debt, public expenditure, inflation, and the foreign reserves position. We also integrate...
Persistent link: https://www.econbiz.de/10004976903
Cover Image
Rebalancing Growth in Asia
Prasad, Eswar - Institute for the Study of Labor (IZA) - 2009
growth. Investment growth has dominated GDP growth in China during this decade but is also important in the cases of India …-08, household saving rates (relative to household income) have risen gradually in China and India but fallen sharply in Korea …
Persistent link: https://www.econbiz.de/10005011901
Cover Image
Thresholds in the Process of International Financial Integration
Kose, M. Ayhan; Prasad, Eswar; Taylor, Ashley D. - Institute for the Study of Labor (IZA) - 2009
The financial crisis has re-ignited the fierce debate about the merits of financial globalization and its implications for growth, especially for developing countries. The empirical literature has not been able to conclusively establish the presumed growth benefits of financial integration....
Persistent link: https://www.econbiz.de/10005070416