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Some New Perspectives on India's Approach to Capital Account Liberalization

Prasad, Eswar - National Bureau of Economic Research (NBER) - 2009

In this paper, I analyze India's approach to capital account liberalization through the lens of the new literature on … financial globalization. India's authorities have taken a cautious and calibrated path to capital account opening, which has … the key challenge now facing India's policymakers on this front. …

Persistent link: https://www.econbiz.de/10005710906

Trade and Capital Flows: A Financial Frictions Perspective

Antras, Pol; Caballero, Ricardo J - National Bureau of Economic Research (NBER) - 2007

The classical Heckscher-Ohlin-Mundell paradigm states that trade and capital mobility are substitutes, in the sense that trade integration reduces the incentives for capital to flow to capital-scarce countries. In this paper we show that in a world with heterogeneous financial development, the...

Persistent link: https://www.econbiz.de/10005828700

Value-Added Exchange Rates

Johnson, Robert Christopher; Bems, Rudolfs - National Bureau of Economic Research (NBER) - 2012

This paper updates the conceptual foundations for measuring real effective exchange rates (REERs) to allow for vertical specialization in trade. We derive a value-added REER describing how demand for the value added that a country produces changes as the price of its value added changes relative...

Persistent link: https://www.econbiz.de/10010821772

The International Role of the Dollar and Trade Balance Adjustment

Goldberg, Linda S.; Tille, Cédric - National Bureau of Economic Research (NBER) - 2006

The pattern of international trade adjustment is affected by the continuing international role of the dollar and related evidence on exchange rate pass-through into prices. This paper argues that a depreciation of the dollar would have asymmetric effects on flows between the United States and...

Persistent link: https://www.econbiz.de/10005248778

Gravity for Dummies and Dummies for Gravity Equations

Baldwin, Richard; Taglioni, Daria - National Bureau of Economic Research (NBER) - 2006

This paper provides a minimalist derivation of the gravity equation and uses it to identify three common errors in the literature, what we call the gold, silver and bronze medal errors. The paper provides estimates of the size of the biases taking the currency union trade effect as an example....

Persistent link: https://www.econbiz.de/10005714091

Chinese Outwards Mercantilism – the Art and Practice of Bundling

Aizenman, Joshua; Jinjarak, Yothin; Zheng, Huanhuan - National Bureau of Economic Research (NBER) - 2015

The Global Financial Crisis (GFC) brought to the fore the limits of the Chinese export led-growth strategy and the need for Chinese rebalancing. The Chinese export-led growth strategy of the 2000s coincided with the country becoming one of the largest net global creditors. Intriguingly, the...

Persistent link: https://www.econbiz.de/10011252665

Power Laws in Economics and Finance

Gabaix, Xavier - National Bureau of Economic Research (NBER) - 2008

A power law is the form taken by a large number of surprising empirical regularities in economics and finance. This article surveys well-documented empirical power laws concerning income and wealth, the size of cities and firms, stock market returns, trading volume, international trade, and...

Persistent link: https://www.econbiz.de/10005575335

The Economic Value of Cultural Diversity: Evidence from US Cities

Peri, Giovanni; Ottaviano, Gianmarco I.P. - National Bureau of Economic Research (NBER) - 2004

What are the economic consequences to U.S. natives of the growing diversity of American cities? Is their productivity or utility affected by cultural diversity as measured by diversity of countries of birth of U.S. residents? We document in this paper a very robust correlation: US-born citizens...

Persistent link: https://www.econbiz.de/10005088695

The Spread of Manufacturing to the Poor Periphery 1870---2007

Bénétrix, Agustín S.; O'Rourke, Kevin Hjortshøj; … - National Bureau of Economic Research (NBER) - 2012

This paper documents industrial output growth around the poor periphery (Latin America, the European periphery, the Middle East and North Africa, Asia, and sub-Saharan Africa) between 1870 and 2007. We find that although the roots of rapid peripheral industrialization stretch into the late 19th...

Persistent link: https://www.econbiz.de/10011163839

Was It Prices, Productivity or Policy? The Timing and Pace of Latin American Industrialization after 1870

Williamson, Jeffrey Gale; Galvarriato, Aurora Gómez - National Bureau of Economic Research (NBER) - 2008

Brazil, Mexico and a few other Latin American republics enjoyed faster industrialization after 1870 than did the rest of Latin America and even faster than the rest of the poor periphery (except East Asia). How much of this economic performance was due to more accommodating institutions and...

Persistent link: https://www.econbiz.de/10005778458

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