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Financial Globalization, Financial Crises and Contagion
Mendoza, Enrique G. - 2009
Two observations suggest that financial globalization played an important role in the recent financial crisis. First …
Persistent link: https://www.econbiz.de/10012463217
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Causes of the Great Recession of 2007-9 : The Financial Crisis is the Symptom not the Disease!
Jagannathan, Ravi - 2009
Globalization has made it possible for labor in developing countries to augment labor in the developed world, without … world's effective labor supply, triggered by geo-political events and technological innovations, coupled with the inability …
Persistent link: https://www.econbiz.de/10012463245
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Short-Term Capital Flows
Rodrik, Dani - 1999
We provide a conceptual and empirical framework for evaluating the effects of short-term capital flows. A simple model of the joint determination of the maturity and cost of external borrowing highlights the role played by self-fulfilling crises. The model also specifies the circumstances under...
Persistent link: https://www.econbiz.de/10012471420
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From the Great Moderation to the global crisis : Exchange market pressure in the 2000s
Aizenman, Joshua - 2010
This paper investigates the factors explaining exchange market pressures (EMP) and the hoarding and use of international reserves (IR) by emerging markets during the 2000s, as the Great Moderation turned to the 2008-9 global crisis and great recession. According to our results, both financial...
Persistent link: https://www.econbiz.de/10012462210
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Inflation Targeting and Sudden Stops
Caballero, Ricardo J. - 2003
Emerging economies experience sudden stops in capital inflows. As we have argued in Caballero and Krishnamurthy (2002), having access to monetary policy during these sudden stops is useful, but mostly for insurance' rather than for aggregate demand reasons. In this environment, a central bank...
Persistent link: https://www.econbiz.de/10012469099
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Why Should Emerging Economies Give up National Currencies : A Case for 'Institutions Substitution'
Mendoza, Enrique G. - 2002
explosive mix of lack of policy credibility and world capital market imperfections that afflict emerging economies with national …
Persistent link: https://www.econbiz.de/10012469764
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Domestic and Multilateral Effects of Capital Controls in Emerging Markets
Pasricha, Gurnain - 2015
Using a novel, high frequency dataset on capital control actions in 16 emerging market economies (EMEs) from 2001 to 2012, we provide new insights into the domestic and multilateral effects of capital controls. Increases in capital account openness reduce monetary policy autonomy and increase...
Persistent link: https://www.econbiz.de/10012457844
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Global Imbalances and Financial Fragility
Caballero, Ricardo J. - 2009
behind this crisis is the large demand for riskless assets from the rest of the world. In this paper we present a model to …
Persistent link: https://www.econbiz.de/10012463959
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Crises and Sudden Stops : Evidence from International Bond and Syndicated-Loan Markets
Kaminsky, Graciela L. - 2008
The crises in Mexico, Thailand, and Russia in the 1990s spread quite rapidly to countries as far apart as South Africa and Pakistan. In the aftermath of these crises, many emerging economies lost access to international capital markets. Using data on international primary issuance, this paper...
Persistent link: https://www.econbiz.de/10012464398
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Financial Globalization : A Reappraisal
Kose, M. Ayhan - 2006
The literature on the benefits and costs of financial globalization for developing countries has exploded in recent … perspective on the macroeconomic effects of financial globalization, both in terms of growth and volatility. Overall, our critical … benefit from financial globalization, but with many nuances. On the other hand, there is little systematic evidence to support …
Persistent link: https://www.econbiz.de/10012466181