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Credit Constraints, Productivity Shocks and Consumption Volatility in Emerging Economies

Bhattacharya, Rudrani - 2013

How does access to credit impact consumption volatility? Theory and evidence from advanced economies suggests that greater household access to finance smooths consumption. Evidence from emerging markets, where consumption is usually more volatile than income, indicates that financial reform...

Persistent link: https://www.econbiz.de/10014395178

Central bank balance sheet policies and spillovers to emerging markets

Kumar, Manmohan S.; Wang, Haobin - 2017

We develop a theoretical model that shows that in the near future, the monetary policies of some key central banks in advanced economies (AEs) will have two dimensions-changes in short-term policy rates and balance sheet adjustments. This will affect emerging market economies (EMs), especially...

Persistent link: https://www.econbiz.de/10011705338

Emerging Equity Markets in Middle Eastern Countries

El-Erian, Mohamed A. - 1994

Within a broad framework for analyzing portfolio capital flows to developing countries, the paper undertakes a comparative analysis of equity markets in six Middle Eastern countries. The analysis, based primarily on a range of quantitative indicators, identifies the principal characteristics of...

Persistent link: https://www.econbiz.de/10014398001

Emerging economy business cycles : financial integration and terms of trade shocks

Bhattacharya, Rudrani; Patnaik, Ila; Pundit, Madhavi - 2013

This paper analyses the extent to which financial integration impacts the manner in which terms of trade affect business cycles in emerging economies. Using a s mall open economy model, we show that as capital account openness increases in an economy that faces trade shocks, business cycle...

Persistent link: https://www.econbiz.de/10011705394

Monetary Policy Transmission in an Emerging Market Setting

Patnaik, Ila - 2011

Some emerging economies have a relatively ineffective monetary policy transmission owing to weaknesses in the domestic financial system and the presence of a large and segmented informal sector. At the same time, small open economies can have a substantial monetary policy transmission through...

Persistent link: https://www.econbiz.de/10014403439

Emerging market securities access to global plumbing

Choi, Gongpil; Ortega, Federico; Kumar, Manmohan S. - 2021

What are the constraints that have stalled EMs efforts to reuse their securities in international financial centers? We discuss the economics of collateral re-use and the present institutional structure in Asian and Latin American countries. Our empirical investigation suggests pledgeability...

Persistent link: https://www.econbiz.de/10012604765

Public Debt and Growth

Woo, Jaejoon - 2010

This paper explores the impact of high public debt on long-run economic growth. The analysis, based on a panel of advanced and emerging economies over almost four decades, takes into account a broad range of determinants of growth as well as various estimation issues including reverse causality...

Persistent link: https://www.econbiz.de/10014402858

Policy Credibility and Sovereign Credit : The Case of New EU Member States

Kumar, Manmohan S. - 2007

References to policy credibility, particularly with regard to fiscal policy, are ubiquitous in both economic literature and financial markets, even though it is not directly observable. The case of the EU new member states (NMS)-emerging markets joining a supranational entity that is generally...

Persistent link: https://www.econbiz.de/10014403003

Predicting Emerging Market Currency Crashes

Perraudin, W. R. M. - 2002

This paper assesses the extent to which crashes in emerging market currencies are predictable using simple logit models based on lagged macroeconomic and financial data. To evaluate our model, we calculate trading strategies in which an investor goes long or short in the currency depending on...

Persistent link: https://www.econbiz.de/10014403638

Fatal Attraction : A New Measure of Contagion

Bayoumi, Tamim - 2003

This paper proposes a new measure of contagion that is good at anticipating future vulnerabilities. Building on … previous work, it uses correlations of equity markets across countries to measure contagion, but in a departure from previous … practice it measures contagion using the relationship of these correlations with distance. Also in contrast to previous work …

Persistent link: https://www.econbiz.de/10014403655