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Does openness to international financial flows contribute to productivity growth?

Kose, M. Ayhan (contributor); Prasad, Eswar S. (contributor) - 2008

Economic theory has identified a number of channels through which openness to international financial flows could raise productivity growth. However, while there is a vast empirical literature analyzing the impact of financial openness on output growth, far less attention has been paid to its...

Persistent link: https://www.econbiz.de/10003747653

Distributional effects of macroeconomic policy choices in emerging market economies

Prasad, Eswar S. - 2013

Distributional consequences typically receive limited attention in economic models that analyze the effects of monetary and financial sector policies. These consequences deserve more attention since financial markets are incomplete, imperfect, and economic agents' access to them is often...

Persistent link: https://www.econbiz.de/10010222156

The costs of favoritism : is politically-driven aid less effective?

Dreher, Axel; Klasen, Stephan; Vreeland, James Raymond; … - 2010

World Bank projects and generally find that projects that are potentially politically motivated – such as those granted to … governments holding a non-permanent seat on the United Nations Security Council or an Executive Directorship at the World Bank … Council members with higher short-term debt, however, a negative quality rating is more likely. So we find evidence that World …

Persistent link: https://www.econbiz.de/10003942325

Education, governance, and trade- and distance-related technology diffusion : accounting for the Latin America-East Asia TFP gap, and the TFP impact of South America's greater dist...

Schiff, Maurice W.; Wang, Yanling - 2017

This paper examines the impact of education, governance and North-South trade- and distance-related technology diffusion on TFP in the South, focusing on South America (SA), Mexico, Latin America (LA) and East Asia for the 32-year period preceding the Great Recession (1976–2007) in a new model...

Persistent link: https://www.econbiz.de/10011734518

Foreign direct investment and structural reforms : evidence from Eastern Europe and Latin America

Campos, Nauro (contributor); Kinoshita, Yuko (contributor) - 2008

This paper investigates the role of structural reforms - privatization, financial reform and trade liberalization as determinants of FDI inflows based on newly constructed dataset on structural reforms for 19 Latin American and 25 Eastern European countries between 1989 and 2004. Our main...

Persistent link: https://www.econbiz.de/10003656909

Distributional effects of monetary policy in emerging market economies

Prasad, Eswar S.; Zhang, Boyang - 2015

We develop a two-sector, heterogeneous-agent model with incomplete financial markets to study the distributional effects and aggregate welfare implications of alternative monetary policy rules in emerging market economies. Relative to inflation targeting, exchange rate management benefits...

Persistent link: https://www.econbiz.de/10011309046

Thresholds in the process of international financial integration

Kose, M. Ayhan; Prasad, Eswar S.; Taylor, Ashley D. - 2009

The financial crisis has re-ignited the fierce debate about the merits of financial globalization and its implications for growth, especially for developing countries. The empirical literature has not been able to conclusively establish the presumed growth benefits of financial integration....

Persistent link: https://www.econbiz.de/10003831857

Financial liberalization and the relationship-specificity of exports

Defever, Fabrice; Südekum, Jens - 2013

We investigate the causal impact of equity market liberalizations in the period 1980-1997 on sectoral export performance across 91 countries. The increased availability of external finance has boosted trade of industries that intensively use relationship-specific inputs, and lowered exports of...

Persistent link: https://www.econbiz.de/10009765529

Financial liberalization and remittances : recent longitudinal evidence

Bang, James T.; Mitra, Aniruddha; Wunnava, Phanindra V. - 2013

This paper investigates the impact of financial liberalization on remittances to 84 countries over five-year intervals from 1990-2005 based on the difference-GMM method of Arellano and Bond (1991). We find that various dimensions of financial reform impact remittances differently. Increased...

Persistent link: https://www.econbiz.de/10009771737

Financial globalization and economic policies

Kose, M. Ayhan; Prasad, Eswar S.; Rogoff, Kenneth S.; … - 2009

We review the large literature on various economic policies that could help developing economies effectively manage the process of financial globalization. Our central findings indicate that policies promoting financial sector development, institutional quality and trade openness appear to help...

Persistent link: https://www.econbiz.de/10003816538

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