Showing 1 - 10 of 62
At the end of 1983 Gallup polls showed that 52 percent of Americans thought that the probability of a world war in the next 10 years was 50% or higher; by 1989 the percentage had dropped to 29%. Fear of war of this pervasiveness is bound to have an effect on decisions about present versus...
Persistent link: https://www.econbiz.de/10012474949
This paper demonstrates that a survey-based measure of the perceived likelihood of nuclear war in a country is negatively correlated with the country's rate of net private saving, holding other determinants of saving constant. This result is established using date on twenty OECD countries for...
Persistent link: https://www.econbiz.de/10012476257
Persistent link: https://www.econbiz.de/10000881399
Examines the institutional factors influencing financial innovation, the consequences of financial development, widespread consolidation occurring through mergers and acquisitions, and the implementation of policy reform.--From publisher description
Persistent link: https://www.econbiz.de/10003711585
Forecasting currencies with commodity prices -- Commodity prices, commodity currencies, and global economic developments / Jan J. J. Groen and Paolo A. Pesenti -- Comments: Kalok Chan, Roberto S. Mariano -- The relationship between commodity prices and currency exchange rates: evidence from the...
Persistent link: https://www.econbiz.de/10008909722
Since 1977, and in some cases starting before that, most East Asian countries' export patterns in manufacturing have been transformed from industry distributions typical of developing countries to distributions more like those of advanced countries. The process of change in most cases started...
Persistent link: https://www.econbiz.de/10012470927
This paper provides an asymmetric information analysis of the recent East Asian crisis. It then outlines several lessons from this crisis. First, there is a strong rationale for an international lender of last resort. Second, without appropriate conditionality for this lending, the moral hazard...
Persistent link: https://www.econbiz.de/10012470928
Short-term borrowing has often been blamed for precipitating financial crises. We argue that while the empirical association between a financial institution's, or country's, short-term borrowing and susceptibility to crises may, in fact, exist, the direction of causality is often precisely the...
Persistent link: https://www.econbiz.de/10012470986
We estimate the rate of total factor productivity growth in Indian manufacturing industry for the period 1973-1992, and compare the results to those obtained by Young for the East Asian Tigers. We then interpret our results in light of Krugman's hypothesis that, because the Asian Miracle was...
Persistent link: https://www.econbiz.de/10012471341
This paper examines the impact of the Asian crisis on bank stocks across four Western countries and six Asian countries. In the second half of 1997, Western banks experienced positive returns. In contrast East Asian bank indices incurred losses in excess of 60% in each of the crisis countries....
Persistent link: https://www.econbiz.de/10012471423