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China's emergence in the world economy and business cycles in Latin America
Cesa-Bianchi, Ambrogio; Pesaran, M. Hashem; Rebucci, … - 2011
vividly illustrated. This paper investigates how changes in trade linkages between China, Latin America, and the rest of the … world shows that the long-term impact of a China GDP shock on the typical Latin American economy has increased by three … to Latin America and the rest of emerging Asia (excluding China and India) GDP has not undergone any significant change …
Persistent link: https://www.econbiz.de/10010278334
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China's Emergence in the World Economy and Business Cycles in Latin America
Cesa-Bianchi, Ambrogio; Pesaran, Hashem; Rebucci, Alessandro - Institute for the Study of Labor (IZA) - 2011
vividly illustrated. This paper investigates how changes in trade linkages between China, Latin America, and the rest of the … world shows that the long-term impact of a China GDP shock on the typical Latin American economy has increased by three … to Latin America and the rest of emerging Asia (excluding China and India) GDP has not undergone any significant change …
Persistent link: https://www.econbiz.de/10009225765
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Does Foreign Entry Spur Innovation?
Gorodnichenko, Yuriy; Svejnar, Jan; Terrell, Katherine - 2015
Our estimates, based on large firm-level and industry-level data sets from eighteen countries, suggest that FDI and trade have strong positive spillover effects on product and technology innovation by domestic firms in emerging markets. The FDI effect is more pronounced for firms from advanced...
Persistent link: https://www.econbiz.de/10011307480
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Distributional Effects of Monetary Policy in Emerging Market Economies
Prasad, Eswar; Zhang, Boyang - 2015
We develop a two-sector, heterogeneous-agent model with incomplete financial markets to study the distributional effects and aggregate welfare implications of alternative monetary policy rules in emerging market economies. Relative to inflation targeting, exchange rate management benefits...
Persistent link: https://www.econbiz.de/10011307491
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Distributional Effects of Macroeconomic Policy Choices in Emerging Market Economies
Prasad, Eswar - 2013
Distributional consequences typically receive limited attention in economic models that analyze the effects of monetary and financial sector policies. These consequences deserve more attention since financial markets are incomplete, imperfect, and economic agents' access to them is often...
Persistent link: https://www.econbiz.de/10010328965
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Globalization and innovation in emerging markets
Gorodnichenko, Yuriy; Svejnar, Jan; Terrell, Katherine - 2008
Globalization brings opportunities and pressures for domestic firms in emerging market economies to innovate and improve their competitive position. Using recent data on firms in 27 transition economies, we test for the effects of globalization through the impact of increased competition and...
Persistent link: https://www.econbiz.de/10010268909
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Financial globalization and economic policies
Kose, M. Ayhan; Prasad, Eswar; Rogoff, Kenneth; Wei, … - 2009
We review the large literature on various economic policies that could help developing economies effectively manage the process of financial globalization. Our central findings indicate that policies promoting financial sector development, institutional quality and trade openness appear to help...
Persistent link: https://www.econbiz.de/10010269041
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Financial sector regulation and reforms in emerging markets: An overview
Prasad, Eswar S. - 2010
This paper provides an overview of the complex conceptual and practical challenges that emerging market economies face as they attempt to reform their frameworks for financial regulation. These economies are striving to balance the quest for financial stability with the imperatives of financial...
Persistent link: https://www.econbiz.de/10010274638
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On the Exchange Rate and Economic Policy Uncertainty Nexus: A Panel VAR Approach for Emerging Markets
Abid, Abir; Rault, Christophe - 2020
We examine the Exchange Rate Volatility (ERV) response to the Economic Policy Uncertainty (EPU) shocks from a panel VAR perspective used for the first time in this context. Focusing on Emerging Market Economies (EME), our noteworthy findings postulate that (a) both home and foreign EPU shocks...
Persistent link: https://www.econbiz.de/10012270043
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Role reversal in global finance
Prasad, Eswar S. - 2011
I document that emerging markets have cast off their original sin their external liabilities are no longer dominated by foreign-currency debt and have instead shifted sharply towards direct investment and portfolio equity. Their external assets are increasingly concentrated in foreign exchange...
Persistent link: https://www.econbiz.de/10010282136