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The Trade Reform Wave of 1985-1995
Irwin, Douglas A. - National Bureau of Economic Research - 2022
The decade from 1985 to 1995 was an unprecedented period of declining barriers to global trade. The reform wave was especially pronounced in developing countries where overvalued currencies were eliminated, quantitative import restrictions dismantled, and import tariffs reduced. What accounts...
Persistent link: https://www.econbiz.de/10013191068
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Growth Effects of the Exchange-Rate Regime and the Capital-Account Openness in A Crisis-Prone World Market : A Nuanced View
Razin, Assaf - 2004
It has been a remarkably difficult empirical task to identify clear-cut real effects of exchange-rate regimes on the open economy. Similarly, no definitive view emerges as to the aggregate effects of capital account liberalizations. The main hypothesis of the paper is that a direct and an...
Persistent link: https://www.econbiz.de/10012468138
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On the Empirics of Sudden Stops : The Relevance of Balance-Sheet Effects
Calvo, Guillermo A. - 2004
Using a sample of 32 developed and developing countries we analyze the empirical characteristics of sudden stops in capital flows and the relevance of balance sheet effects in the likelihood of their materialization. We find that large real exchange rate (RER) fluctuations coming hand in hand...
Persistent link: https://www.econbiz.de/10012468173
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Predicting Exchange Rate Crises : Mexico Revisited
Goldberg, Linda S. - 1990
This paper predicts ex-ante the probability of currency crises end size of expected devaluations month by month for Mexico between 1980 and 1986 using a heterodox linear discrete time model of exchange rate crises. The forces contributing to speculative attacks on the Mexican peso include...
Persistent link: https://www.econbiz.de/10012475715
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International Finance
Obstfeld, Maurice - 1986
time, the definition of external balance has evolved in response to changes in the world economy's structure. The foreign …
Persistent link: https://www.econbiz.de/10012476993
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External Balance Sheets and the COVID-19 Crisis
Hale, Galina; Juvenal, Luciana - National Bureau of Economic Research - 2021
At the onset of the COVID-19 economic crisis, as in other crisis episodes, the flight to safety was accompanied by a rapid appreciation of "safe haven" currencies. We quantify currency-induced balance sheet effects for total external positions as well as for individual asset classes using new...
Persistent link: https://www.econbiz.de/10012629497
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Trending Current Accounts
Choi, Horag - 2009
Trending current accounts pose a challenge for intertemporal open-economy macro models. This paper shows that a two-country representative-agent business cycle model is able to explain the historical time-paths of the US and Japanese current accounts, both of which display trends but in opposite...
Persistent link: https://www.econbiz.de/10012463405
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China's Current Account and Exchange Rate
Cheung, Yin-Wong - 2009
predicted by estimates based upon a cross-country sample, when using the 2006 vintage of the World Development Indicators. The …
Persistent link: https://www.econbiz.de/10012463974
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Finance, inequality, and poverty : cross-country evidence
Beck, Thorsten - 2004
"While substantial research finds that financial development boosts overall economic growth, we study whether financial development disproportionately raises the incomes of the poor and alleviates poverty. Using a broad cross-country sample, we distinguish among competing theoretical predictions...
Persistent link: https://www.econbiz.de/10010522996
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Land, Labor and Globalization in the Pre-Industrial Third World
Williamson, Jeffrey G. - 2000
A Third World data base documenting commodity and factor prices 1870-1940 has been collected, yielding annual time …/rental ratios the world round between 1870 and 1940. The data offer a useful way to identify the impact of globalization on the pre …-industrial Third World. This paper finds commodity price convergence to have been bigger in the Third World than the Atlantic economy …
Persistent link: https://www.econbiz.de/10012470966