Showing 1 - 10 of 13
Regional trade in South America since independence has long been much smaller than would be expected if geography were the only constraint on trade. Several potential explanations exist: low technological and demand complementarities; low productivity; high natural and policy barriers to trade....
Persistent link: https://www.econbiz.de/10012457876
Industrialization experiences differ significantly across countries. We use a bench-mark model of structural change to shed light on the sources of this heterogeneity and, in particular, the phenomenon of premature deindustrialization. Our analysis leads to three key findings. First, benchmark...
Persistent link: https://www.econbiz.de/10012481434
of financial integration or interrelatedness, asking how Asia compares with Europe and Latin America and with the base … head and shoulders above other regions in terms of financial integration. More interesting is that Asia already seems to …, and greater transparency that lead to larger and better developed financial systems in Asia, something that is conducive …
Persistent link: https://www.econbiz.de/10012466257
Despite an enormous literature that has analyzed the comparative experiences of Latin America and Asia in post … highest tariff barriers on earth before 1914; Asia had the lowest. Protected Latin America's belle ‚poque also boasted some of … the most explosive growth performance on earth, while Asia registered some of the worst. What brought the two regions to …
Persistent link: https://www.econbiz.de/10012469302
This paper proposes a new approach to evaluate contagion in financial markets. Our measure of contagion captures the co-incidence of extreme return shocks across countries within a region and across regions that cannot be explained by linear propagation models of shocks. We characterize the...
Persistent link: https://www.econbiz.de/10012470824
Foreign portfolio flows may reflect deep changes in the functioning of an emerging market economy and its capital markets. Using a database of monthly net U.S. equity flows, we investigate the relation of these flows to the behavior of equity returns, the structural characteristics of the...
Persistent link: https://www.econbiz.de/10012472142
We take stock of and compare tax revenue trends in Asia and Latin America. The tax revenues to GDP ratios increased …
Persistent link: https://www.econbiz.de/10012456916
Since 1950, the economies of East Asia grew rapidly but received little inter-national capital, while Latin America … flows. We develop a DSGE model of Asia, Latin America, and the Rest ofthe World that features an open-economy business cycle …
Persistent link: https://www.econbiz.de/10012456926
We use data from the Groningen Growth and Development Centre (GGDC) database to perform preliminary empirical analysis of the interplay between quality and quantity of finance in accounting for the output growth of ten sectors. We review the existing literature and some salient open questions...
Persistent link: https://www.econbiz.de/10012457749
This paper investigates the potential impacts of the degree of divergence in open macroeconomic policies in the context of the trilemma hypothesis. Using an index that measures the relative policy divergence among the three trilemma policy choices, namely monetary independence, exchange rate...
Persistent link: https://www.econbiz.de/10012459214