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Productivity Growth and Capital Flows: The Dynamics of Reforms
Buera, Francisco J.; Shin, Yongseok - National Bureau of Economic Research (NBER) - 2009
Why doesn't capital flow into fast-growing countries? In this paper, we provide a quantitative framework incorporating heterogeneous producers and underdeveloped domestic financial markets to study the joint dynamics of total factor productivity (TFP) and capital flows. When an unexpected...
Persistent link: https://www.econbiz.de/10005034319
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International Finance and Growth in Developing Countries: What Have We Learned?
Obstfeld, Maurice - National Bureau of Economic Research (NBER) - 2009
in the direction of further financial openness. A plausible explanation is that financial development is a concomitant of …
Persistent link: https://www.econbiz.de/10005720411
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Development Through Synergistic Reform
Rauch, James E. - National Bureau of Economic Research (NBER) - 2007
Several studies suggest that production of high-quality output is a precondition for firms in less developed countries to participate in the export market. Institutional deficiencies that raise the costs of entry into high-quality production therefore limit the positive impact that trade...
Persistent link: https://www.econbiz.de/10005720456
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Can the West Save Africa?
Easterly, William - National Bureau of Economic Research (NBER) - 2008
In the new millennium, the Western aid effort towards Africa has surged due to writings by well-known economists, a celebrity mass advocacy campaign, and decisions by Western leaders to make Africa a major foreign policy priority. This survey contrasts the predominant "transformational" approach...
Persistent link: https://www.econbiz.de/10005777960
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Surfing the Waves of Globalization: Asia and Financial Globalization in the Context of the Trilemma
Aizenman, Joshua; Chinn, Menzie; Ito, Hiro - National Bureau of Economic Research (NBER) - 2010
Using the "trilemma indexes" developed by Aizenman et al. (2008) that measure the extent of achievement in each of the three policy goals in the trilemma--monetary independence, exchange rate stability, and financial openness--we examine how policy configurations affect macroeconomic...
Persistent link: https://www.econbiz.de/10008634683
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Assessing the Emerging Global Financial Architecture: Measuring the Trilemma's Configurations over Time
Aizenman, Joshua; Chinn, Menzie; Ito, Hiro - National Bureau of Economic Research (NBER) - 2008
flexibility, monetary independence, and capital account openness while taking into account the recent development of substantial … pursuit of stable exchange rate while financial development is at the medium level can increase output volatility, (iv …) greater financial openness with a high level of financial development can reduce output volatility, though greater financial …
Persistent link: https://www.econbiz.de/10005828848
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Financial Instability, Reserves, and Central Bank Swap Lines in the Panic of 2008
Obstfeld, Maurice; Taylor, Alan M.; Shambaugh, Jay C. - National Bureau of Economic Research (NBER) - 2009
unprecedented U.S. dollar swap lines recently provided to many countries by the Federal Reserve. …
Persistent link: https://www.econbiz.de/10005774513
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Financial Stability, the Trilemma, and International Reserves
Obstfeld, Maurice; Taylor, Alan M.; Shambaugh, Jay C. - National Bureau of Economic Research (NBER) - 2008
The rapid growth of international reserves---a development concentrated in the emerging markets---remains a puzzle. In …
Persistent link: https://www.econbiz.de/10005777623
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Recent Chinese Buyout Activity and the Implications for Global Architecture
Whalley, John; Antkiewicz, Agata - National Bureau of Economic Research (NBER) - 2006
We discuss recent cases of Chinese buyout activity in the OECD (especially in the US and the EU) in resource and …
Persistent link: https://www.econbiz.de/10005034915
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Intellectual Property Rights, Foreign Direct Investment, and Industrial Development
Saggi, Kamal; Branstetter, Lee - National Bureau of Economic Research (NBER) - 2009
This paper develops a North-South product model in which Southern imitation and the North-South flow of foreign direct investment (FDI) are endogenously determined. In the model, a strengthening of IPR protection in the South reduces the rate of imitation, which, in turn, increases the flow of...
Persistent link: https://www.econbiz.de/10008628433