Showing 1 - 10 of 574
Persistent link: https://www.econbiz.de/10009424867
This paper studies the effects of demand and supply shocks in the global crude oil market on several measures of countries'' external balance, including the oil and non-oil trade balances, the current account, and changes in net foreign assets (NFA) during 1975-2004. We explicitly take a global...
Persistent link: https://www.econbiz.de/10014401265
Persistent link: https://www.econbiz.de/10014409758
This paper reviews developments and issues in the exchange arrangements and currency convertibility of IMF members. Against the backdrop of continuing financial globalization and a series of emerging market crises since 1997, there have been important changes in the evolution of exchange rate...
Persistent link: https://www.econbiz.de/10014404579
increase in protectionist pressures, and the disappointing performance of world trade, renewed concern has been expressed about …
Persistent link: https://www.econbiz.de/10014406218
and world commodity supplies and the real exchange rate and real commodity prices. It is shown that fiscal expansion and … increasing world commodity supplies simultaneously lead to an appreciation of the real exchange rate and a decline in relative …
Persistent link: https://www.econbiz.de/10014396210
This paper studies the impact of the level and volatility of the commodity terms of trade on economic growth, as well … (CPMG) methodology of Pesaran et al. (1999) for estimation. The latter takes account of cross-country heterogeneity and … of trade growth enhances real output per capita, volatility exerts a negative impact on economic growth operating mainly …
Persistent link: https://www.econbiz.de/10014396933
Capital flows can deliver substantial benefits for countries, but also have the potential to contribute to a buildup of systemic financial risk. Benefits, such as enhanced investment and consumption smoothing, tend to be greater for countries whose financial and institutional development enables...
Persistent link: https://www.econbiz.de/10014408642
Persistent link: https://www.econbiz.de/10014408670
This paper investigates linkages between stock markets in seven industrialized countries since 1974. Empirical evidence shows that both nominal and real stock prices (and returns) are strongly positively correlated across countries, and that nominal exchange rate changes do not have systematic...
Persistent link: https://www.econbiz.de/10014396348