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The Savings Trap and Economic Take-Off
Ghosh, Atish R. - 1992
determine savings, investment and growth. Investment is assumed to involve intermediation or other costs which may, in each … period, result in either of two stable equilibria for the savings rate. At the “good” equilibrium, savings and growth are … individual’s belief about the savings behavior of other agents in the economy. The model implies that fiscal policy or public …
Persistent link: https://www.econbiz.de/10014397933
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Saving, Investment, Financial Integration, and the Balance of Payments
International Monetary Fund - 1989
This paper examines the extent of international financial integration, and its consequences for the current account. The evidence indicates that financial liberalization in the 1970s and 1980s has resulted in a substantial movement towards closer integration of world capital markets. By reducing...
Persistent link: https://www.econbiz.de/10014395900
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Determinants of U.S. business investment
Kopp, Emanuel - 2018
U.S. business investment has taken a serious toll during the global financial crisis and also in the recovery phase investment did not pick up as expected. What is surprising is that the alleged investment slowdown happened at a time of record corporate profits and retained earnings, highly...
Persistent link: https://www.econbiz.de/10011866492
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The Quality Effect : Does Financial Liberalization Improve the Allocation of Capital?
Abiad, Abdul - 2004
The study documents evidence of a ""quality effect"" of financial liberalization on allocative efficiency, which is measured by the dispersion in Tobin''s Q across firms. Based on a simple model, the authors predict that financial liberalization, by equalizing access to credit, reduces the...
Persistent link: https://www.econbiz.de/10014404168
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Capital flow data : a guide for empirical analysis and real-time tracking
Koepke, Robin; Paetzold, Simon - 2020
This paper provides an analytical overview of the most widely used capital flow datasets. The paper is written as a guide for academics who embark on empirical research projects and for policymakers who need timely information on capital flow developments to inform their decisions. We address...
Persistent link: https://www.econbiz.de/10012301943
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How does profit shifting affect the balance of payments?
Hebous, Shafik; Klemm, Alexander; Wu, Yuou - 2021
Profit shifting by multinational enterprises-through manipulation of transfer prices of related-party trade, intragroup lending, or the location of intangibles-affects international flows, raising the question of its impact on the current account and external balances. This paper approaches this...
Persistent link: https://www.econbiz.de/10012518311
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Are bilateral trade balances irrelevant?
Eugster, Johannes L.; Jaumotte, Florence; MacDonald, Margaux - 2020
Based on an empirical gravity model of sectoral bilateral trade, we uncover three features of bilateral trade balances. First, the difficulty of gravity models in fitting the observed level of bilateral balances is likely due to the presence of unobservable bilateral trade costs. Second, the...
Persistent link: https://www.econbiz.de/10012391997
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The measurement of external accounts
Adler, Gustavo; Garcia-Macia, Daniel; Krogstrup, Signe - 2019
Growing international integration in trade and finance can challenge the measurement of external accounts. This paper presents a unified conceptual framework for identifying sources of mismeasurement of foreign investment income in current account balances. The framework allows to derive a...
Persistent link: https://www.econbiz.de/10012102053
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The external balance assessment methodology : 2018 update
Cubeddu, Luis; Krogstrup, Signe; Adler, Gustavo; … - 2019
The assessment of external positions and exchange rates is a key mandate of the IMF. This paper presents the updated External Balance Assessment (EBA) framework-a key input in the conduct of multilaterally-consistent external sector assessments of 49 advanced and emerging market...
Persistent link: https://www.econbiz.de/10012009957
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External adjustment in a resource-rich economy : the case of Papua New Guinea
Nakatani, Ryota - 2017
How should resource-rich economies handle the balance of payments adjustment required after commodity price declines? This paper addresses the question theoretically by developing a simple two-period multi-sector model based on Nakatani (2016) to compare different exchange rate policies, and...
Persistent link: https://www.econbiz.de/10011763833