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The Bretton Woods international monetary system : an historical overview
Bordo, Michael D. - 1992
Persistent link: https://www.econbiz.de/10000109009
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Financial sector ups and downs and the real sector : big hindrance, little help
Aizenman, Joshua - 2011
"We examine how financial expansion and contraction cycles affect the broader economy through their impact on 8 real economic sectors in a panel of 28 countries over 1960-2005, paying particular attention to large, or sharp, contractions and magnifying and mitigating factors. Overall, the...
Persistent link: https://www.econbiz.de/10011395532
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Internationalization and the evolution of corporate valuation
Levine, Ross - 2005
"By documenting the evolution of Tobin's "q" before, during, and after firms internationalize, this paper provides evidence on the bonding, segmentation, and market timing theories of internationalization. Using new data on 9,096 firms across 74 countries over the period 1989-2000, we find that...
Persistent link: https://www.econbiz.de/10010522397
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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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Law and firms' access to finance
Beck, Thorsten - 2004
"This paper contributes to the literature on how a country's legal origin influences the operation of its financial system by using firm-level survey data on the obstacles that firms face in raising external finance. The paper assesses two channels through which legal origin may influence the...
Persistent link: https://www.econbiz.de/10010523108
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Measuring Real Economic Effects of Bailouts : Historical Perspectives on How Countries in Financial Distress Have Fared With and Without Bailouts
Bordo, Michael D. - 2000
In this paper we first trace the changing nature of banking, currency and debt crises from the last century to the present. Each type of crisis has transmogrified in the presence of official intervention and the creation of a safety net. A similar pattern is observed for international rescue...
Persistent link: https://www.econbiz.de/10012471060
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Capital Controls and Financial Crises
Aizenman, Joshua - 1999
The purpose of this paper is to explain the reluctance of developing countries to open up their capital market to foreigners, and the conditions inducing an emerging market economy to switch its policies. We consider an economy characterized initially by a one-sided openness to the capital...
Persistent link: https://www.econbiz.de/10012471387
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The Future of EMU : What Does the History of Monetary Unions Tell Us?
Bordo, Michael D. - 1999
The creation of EMU and the ECB has triggered a discussion of the future of EMU. Independent observers have pointed to a number of shortcomings or hazard areas' in the construction of EMU, such as the absence of a central lender of last resort function for EMU, the lack of a central authority...
Persistent link: https://www.econbiz.de/10012471419
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Is Globalization Today Really Different than Globalization a Hunderd Years Ago?
Bordo, Michael D. - 1999
for the United States but also with reference to the wider world. We establish the outlines of international integration a … century ago and analyze the institutional and informational impediments that prevented the late nineteenth century world from … achieving the same degree of integration as today. We conclude that the world today is different: commercial and financial …
Persistent link: https://www.econbiz.de/10012471593
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A Two Covid-19 Years Quartile Comparison of Official with Excess Mortality : Voice and Accountability and the Impact of Vaccines
Aizenman, Joshua - 2022
We evaluate the quartile ranking of countries during the Covid-19 pandemic using both official (i.e., confirmed) and excess mortality data. Contrasting countries' rankings using these two data sources reveal sharp and systematic differences. While higher GDP per capita is associated with a worse...
Persistent link: https://www.econbiz.de/10012938747