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Multilateral development finance is at a critical juncture. In the past 70 years, it has developed through four distinct stages. The Bretton Woods conference established the World Bank and the International Monetary Fund in 1944 to finance post-war reconstruction and stabilize the global...
Persistent link: https://www.econbiz.de/10011310987
The global economy has been facing a series of adverse shocks in recent years including the COVID-19 pandemic, climate crisis, the Russian invasion of Ukraine, high inflation, and interest rate shocks driven by global monetary policy normalization. The high cost of fossil fuels since 2021,...
Persistent link: https://www.econbiz.de/10014303061
Even though the impacts of the globalization on economic growth and structural changes are inevitable, many developing …-run relationship in sectoral growth. The empirical investigations revealed an existence of unidirectional causality toward agricultural … effect of Gregory-Hansen co-integration affirmed a long-run nexus in agricultural growth positively with industrial and …
Persistent link: https://www.econbiz.de/10011688750
Financial safety nets in Asia have come a long way since the Asian Financial Crisis (AFC) of 1997 - 98. Not wanting to rely solely on the International Monetary Fund (IMF) again, the Chiang Mai Initiative (CMI) was created in 2000. When the CMI also proved inadequate following the Global...
Persistent link: https://www.econbiz.de/10010397304
The squeeze in United States dollar liquidity that emerged with the global financial crisis highlighted the risks inherent in the current global financial system. Asia was adversely affected by the crisis not only because of its dependence on trade, but also because of its heavy reliance on the...
Persistent link: https://www.econbiz.de/10010397306
The increasing occurrence of national, regional, and global financial crises, together with their rising costs and complexity, have increased calls for greater regional and global monetary cooperation. This is particularly necessary in light of volatile capital flow movements that can quickly...
Persistent link: https://www.econbiz.de/10010397311
This paper compares financial assistance programs of four euro-area countries (Greece, Ireland, Portugal, and Cyprus) and three non-euro-area countries (Hungary, Latvia, and Romania) of the European Union in the aftermath of the 2007/08 global financial and economic crisis - which were supported...
Persistent link: https://www.econbiz.de/10011688734
growth without creating macroeconomic and financial instability. …
Persistent link: https://www.econbiz.de/10010279852
Financial safety nets in Asia have come a long way since the Asian Financial Crisis (AFC) of 1997–98. Not wanting to rely solely on the International Monetary Fund (IMF) again, the Chiang Mai Initiative (CMI) was created in 2000. When the CMI also proved inadequate following the Global...
Persistent link: https://www.econbiz.de/10013098083
Japan, appear strong. This reflects a number of supportive factors, including strong underlying growth, conservative fiscal … conditions in emerging Asian economies will not always be so supportive. First, economic growth will tend to slow as countries …
Persistent link: https://www.econbiz.de/10010397252