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Currency Crises in Developed and Emerging Market Economies : A Comparative Empirical Treatment
Fontaine, Thomson - 2005
This paper takes a step in empirically testing the implications of a number of theoretical models that attempt to highlight the dynamics behind currency crises. By focusing on countries with broadly disparate economic and political arrangements, the study attempts to determine the extent to...
Persistent link: https://www.econbiz.de/10014400634
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Monetary policy implementation and volatility transmission along the yield curve : the case of Kenya
Alper, C. Emre; Morales, R. Armando; Yang, Fan - 2016
This paper analyzes the degree to which volatility in interbank interest rates leads to volatility in financial instruments with longer maturities (e.g., T-bills) in Kenya since 2012, year in which the monetary policy framework switched to a forward-looking approach, relative to seven other...
Persistent link: https://www.econbiz.de/10011711565
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Perfect storm : climate change and tourism
Cevik, Serhan; Ghazanchyan, Manuk - 2020
While the world's attention is on dealing with the COVID-19 pandemic, climate change remains a greater existential … threat to vulnerable countries that are highly dependent on a weather-sensitive sector like tourism. Using a novel … multidimensional index, this study investigates the long-term impact of climate change vulnerability on international tourism in a …
Persistent link: https://www.econbiz.de/10012392570
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Remittances and vulnerability in developing countries
Bettin, Giulia; Presbitero, Andrea; Spatafora, Nikola - 2014
Persistent link: https://www.econbiz.de/10010389497
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Missing Link : Volatility and the Debt Intolerance Paradox
Catão, Luis - 2004
A striking feature of sovereign lending is that many countries with moderate debt-to-income ratios systematically face higher spreads and more stringent borrowing constraints than others with far higher debt ratios. Earlier research has rationalized the phenomenon in terms of sovereign...
Persistent link: https://www.econbiz.de/10014401434
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Uncovered Interest Parity in Crisis : The Interest Rate Defense in the 1990's
Rose, Andrew K. - 2001
This paper tests for uncovered interest parity (UIP) using daily data for 23 developing and developed countries through the crisis-strewn 1990s. We find that UIP works better on average in the 1990s than in previous eras in the sense that the slope coefficient from a regression of exchange rate...
Persistent link: https://www.econbiz.de/10014401450
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IMF lending and banking crises
Papi, Luca; Presbitero, Andrea; Zazzaro, Alberto - 2015
sample of developing countries, over the period 1970-2010. The endogeneity of the IMF intervention is addressed by adopting …
Persistent link: https://www.econbiz.de/10014275790
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South Africa : the financial sector-sovereign nexus
Hesse, Heiko; Miyajima, Ken - 2022
Globally, financial institutions have increased their holdings of domestic sovereign debt, tightening the linkage between the health of the financial system and the level of sovereign debt, or the "financial sector-sovereign nexus," during the ongoing COVID-19 pandemic. In South Africa, the...
Persistent link: https://www.econbiz.de/10013170007
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Tourism Specialization and Economic Development : Evidence from the UNESCO World Heritage List
Piotrowski, John M. - 2009
UNESCO World Heritage List. We find that there is a positive relationship between the extent of tourism specialization and …The present paper investigates whether tourism specialization is a viable strategy for development. We estimate … standard growth equations augmented with a variable measuring tourism specialization using instrumental variables techniques …
Persistent link: https://www.econbiz.de/10014402466
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Determinants of International Tourism
Culiuc, Alexander - 2014
The paper estimates the impact of macroeconomic supply- and demand-side determinants of tourism, one of the largest … dataset comprising the full universe of bilateral tourism flows spanning over a decade. The results show that the gravity … model explains tourism flows better than goods trade for equivalent specifications. The elasticity of tourism with respect …
Persistent link: https://www.econbiz.de/10014411223