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This paper analyzes reasons for the high post-war correlations of saving and investment, both across countries and over time. It is concluded that the main reason for the observed high correlations over the recent period is probably government policy
Persistent link: https://www.econbiz.de/10014396226
The paper describes the evolution of the corporate stock and bond markets in Korea and the Government’s role in this evolution and its policy with regard to internationalization of the capital market. The paper analyzes problems encountered in gradually opening the Korean capital market to...
Persistent link: https://www.econbiz.de/10014395771
This paper explores how the tax treatment of investment and savings affects international capital flows as well as … favoring investment in that country and by harming the country’s relative savings performance. The paper concludes that the …
Persistent link: https://www.econbiz.de/10014396441
This paper examines the extent of international financial integration, and its consequences for the current account. The evidence indicates that financial liberalization in the 1970s and 1980s has resulted in a substantial movement towards closer integration of world capital markets. By reducing...
Persistent link: https://www.econbiz.de/10014395900
Assiduously tracking the trends and consequences of globalization, the IMF's quarterly magazine Finance & Development has been a major forum for discussing-and dissecting-the policy options and challenges faced by governments in an era when many national decisions transcend borders. This...
Persistent link: https://www.econbiz.de/10012673982
This paper provides a review of recent developments and an assessment of short-term prospects for private international capital markets, which constitute one of the main sources of international capital flows
Persistent link: https://www.econbiz.de/10014397540
In the past decade, most of the EU New Member States experienced a severe credit-boom bust cycle. This paper argues that the credit boom-bust cycle was to a large extent the result of factors external to the region (“bad luck”). Rapid credit growth followed from a high liquidity in global...
Persistent link: https://www.econbiz.de/10014402680
This paper explores how tax policy affects the level and allocation of national savings in the United States. It argues … composition of savings and investment. The paper suggests various specific tax measures that would not only raise government … revenue but also enhance the efficiency of savings and investment …
Persistent link: https://www.econbiz.de/10014395849
This paper provides a theoretical underpinning for the major determinants of optimal reserve demand in the case where fundamental disequilibrium constitutes a key element governing reserve management. Emphasis is given to the role of reserves to smooth the process of economic adjustment by...
Persistent link: https://www.econbiz.de/10014396133
This paper develops and calibrates a simple general equilibrium model with two types of labor and capital for the French economy. The simulation results indicate that targeted reductions in employer social security taxes have six times as large an effect on employment as untargeted reductions...
Persistent link: https://www.econbiz.de/10014401626