Showing 1 - 10 of 169
The paper provides an empirical analysis of the determinants of currency substitution in Egypt and the Yemen Arab Republic over the period 1980-86. During this period, residents have exhibited a marked preference to substitute foreign money balances for domestic balances, as indicated by their...
Persistent link: https://www.econbiz.de/10014396179
The growing importance of foreign currency deposits (FCDs) in some developing countries has raised numerous issues, particularly regarding the effectiveness of economic policies. This paper discusses factors that influence the emergence of FCDs and their impact on key macroeconomic relations. It...
Persistent link: https://www.econbiz.de/10014396267
This paper explores the hypothesis that the dollarization of liabilities in emerging market economies is the result of a lack of monetary credibility. I present a model in which firms choose the currency composition of their debts so as to minimize their probability of default. Decreasing...
Persistent link: https://www.econbiz.de/10014403679
This paper explores how corporate income tax reform can help Japan increase investment and boost potential growth …. Using international and Japan-specific empirical estimates of corporate tax elasticities, investment is predicted to expand … and 30 percent of the static revenue loss could be recovered in the long run through dynamic scoring, although Japan …
Persistent link: https://www.econbiz.de/10014411442
Japan has the most rapidly aging population in the world. This affects growth and fiscal sustainability, but the …
Persistent link: https://www.econbiz.de/10014411443
Japan’s high corporate savings might be holding back growth. We focus on the causes and consequences of the current … corporate behavior and suggest options for reform. In particular, Japan’s weak corporate governance—as measured by available … comprehensive corporate governance reform should be a key component of Japan’s growth strategy …
Persistent link: https://www.econbiz.de/10014411444
We trace Japanese firms’ behavior over the last decades using aggregate corporate balance sheet data. Financial health of Japanese corporate sector has improved and firms paid back significant amount of debt and rebuilt their liquidity buffers. They also expanded abroad while the pace of...
Persistent link: https://www.econbiz.de/10014411445
With policy rates near the zero bound, the Bank of Japan (BoJ) has introduced a series of unconventional monetary …
Persistent link: https://www.econbiz.de/10014412167
financial markets and spillovers from Europe to Japan. The results also suggest that the uncertainty about the direction of …
Persistent link: https://www.econbiz.de/10014395332
’s use in international trade are mixed. It is also shown that, despite Japan’s emergence as the world’s largest net creditor … nation, Japan’s capital outflows have not significantly facilitated the yen’s internationalization. Data are presented …
Persistent link: https://www.econbiz.de/10014395333