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The paper evaluates the present and future international currency status of the US dollar, the euro and the yen. In section two the functions, benefits, and costs of a leading international currency are discussed. In section three key determinants for the continuous dominance of the US dollar...
Persistent link: https://www.econbiz.de/10013136590
A model is presented to characterise the (optimal) demand for cash balances in deregulated markets. After the model of James Tobin, 1958, net balances are determined in order to maximise the expected return of a certain portfolio combining risk and capital. Unlike the model of Tobin, the prices...
Persistent link: https://www.econbiz.de/10013159438
were characterized by rapid growth without major contractions, by an increase in liquidity, a lack of inflation, and a …
Persistent link: https://www.econbiz.de/10011110198
This study is an attempt to determine the factors that influence a firm’s choice of capital structure in three Asian countries: Japan, Malaysia and Pakistan. The specific objective is to investigate if country’s economic factors play a significant role in determining capital structure...
Persistent link: https://www.econbiz.de/10004961530
We report evidence that bank liquidity ratios (liquid assets as a percentage of total assets) decrease during the … banks react to this by lowering their liquidity ratios. In a panel of 45 countries, we find evidence that such a mechanism … is into place: a one-unit increase in an index of securities market liberalization leads to a drop in the bank liquidity …
Persistent link: https://www.econbiz.de/10011112629
formulated at the beginning, one also notes that inflation has a negative effect on the economic growth. These results emphasize …
Persistent link: https://www.econbiz.de/10011258720
Is the SARB’s inflation target of 3-6% compatible with the 6% economic growth objective set by ASGISA? Estimations of … inflation-growth bivariate Threshold Vector Autoregressive with corresponding bivariate Threshold Vector Error Correction (BTVEC …-BTVAR) econometric models for sub-periods coupled with the South African inflation-growth experience between 1960 and 2010; suggest on …
Persistent link: https://www.econbiz.de/10011260136
Joining the European Union big opportunities in the international markets have opened for Latvia. Paper purpose is to investigate influence of international integration processes on development of economy of Latvia. In the paper Latvian economic indicators before and after entering the EU are...
Persistent link: https://www.econbiz.de/10009216353
A conventional reading of economic history implies that free market reforms rescued the world’s economies from stagnancy during the 1970s and 1980s. I reexamine a well-established econometric literature linking economic freedom to growth, and argue that their positive findings hinge on two...
Persistent link: https://www.econbiz.de/10009325575
The study examines possibility of threshold effect of inflation on economic growth over the period of 2000 …-2009. Estimated threshold model indicates that there is a non-linear relationship between economic growth and inflation in the … Azerbaijani economy and threshold level of inflation for GDP growth is 13 percent. Below threshold level inflation has …
Persistent link: https://www.econbiz.de/10009325590