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Deregulation of the financial system often proceeds in tandem with macroeconomic stabilization centered on monetary and other financial targets. This paper presents a model where there may be conflict between these processes. The indicator properties of some financial variables may be rendered...
Persistent link: https://www.econbiz.de/10014397928
is held abroad. There are large regional differences in this proportion, ranging from 5 percent in South Asia to 40 … percent in Africa. We explain cross-country differences in portfolio choice by variables that proxy differences in the risk … (HIPC) on capital repatriation; and why so much of Africa’s private wealth is held outside the continent …
Persistent link: https://www.econbiz.de/10014400936
Union but, when possible, transition countries, in Asia and Africa are also considered. The main findings are that …
Persistent link: https://www.econbiz.de/10014403596
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This paper estimates the effect of copper prices on Chile’s growth at various time horizons. We find that a price decline is likely to have a durable (although not permanent) effect on GDP growth: while the impact is the strongest in the first 3 years after the shock, the transition towards...
Persistent link: https://www.econbiz.de/10012418028
We use a new dataset on non-resource GDP to examine the performance of commodity-exporting countries in terms of macroeconomic stability and economic growth in a panel of up to 129 countries during the period 1970-2007. Our main findings are threefold. First, we find that overall government...
Persistent link: https://www.econbiz.de/10014399309
This paper estimates the potential output (and the output gap) in Chile using several different methodologies. After a structural brake in 1998, the average growth rate of potential output in Chile declined from over 7 percent to 3-4 percent in the aggregate economy, but to less than 2 percent...
Persistent link: https://www.econbiz.de/10014403685
positive shock to the mineral resource value of a country. The model contains tradable, non-tradable, and mining sectors, as …
Persistent link: https://www.econbiz.de/10014395162