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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
This paper highlights key issues pertinent for the understanding of international effects of domestic tax policies and of international tax harmonization. The analytical framework adopts the saving-investment balance approach to the analysis of international economic interdependence focusing on...
Persistent link: https://www.econbiz.de/10014396181
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
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 … of trade growth enhances real output per capita, volatility exerts a negative impact on economic growth operating mainly … trade volatility offset the positive impact of commodity booms; and export diversification of primary commodity abundant …
Persistent link: https://www.econbiz.de/10014396933
increase in protectionist pressures, and the disappointing performance of world trade, renewed concern has been expressed about …
Persistent link: https://www.econbiz.de/10014406218
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
There are few areas of economic policy-making in which the returns to good decisions are so high-and the punishment of bad decisions so cruel-as in the management of natural resource wealth. Rich endowments of oil, gas and minerals have set some countries on courses of sustained and robust...
Persistent link: https://www.econbiz.de/10014397213