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This paper considers policies of the industrialized countries, as they pertain to crises in emerging markets. These fall into three areas: (1) their own macroeconomic policies, which determine the global financial environment; (2) their role in responding to crises when they occur, particularly...
Persistent link: https://www.econbiz.de/10012470082
finance literature has in some respects not kept pace with world trends. Most empirical studies fail to take due account of … the diversity of assets offered by countries around the world, the diversity of locales in which investors live, and the …
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This paper, written for the NBER Conference on the Changing Role of the United States in the World Economy, covers the …
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sub-standard economic performance. They are: long-term trends in world commodity prices, volatility, crowding out of …
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of return from rising significantly above the world rate of return. This view has been challenged recently by the …
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targets apply even more strongly to developing countries. But because most developing countries are price-takers on world …
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concluding section offers some implications for East Asia …
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