This paper provides an empirical analysis of the currency crisis and recovery in three East Asian countries, Malaysia, Thailand and South Korea. Using macro economic data for the three countries over a 13 year period, 1990 – 2002, the paper examines the factors leading to the crisis, the...

China’s concern about its U.S. Dollar reserves is being amplified by the low returns of some of China’ investments in the U.S. which leads to a broader concern about how the current reserve system basically entails China lending to the U.S. at very low interest rates. A two-currency reserve...

In contrast to Robert Mundell‘s Optimum Currency Area theory and his recommendation of forming a monetary union, the economic fundamentals of Euro area member countries have not harmonized. The opposite holds: the Euro core countries - most of all Germany, but also the Netherlands and Finland...

The main objective of this paper is to explore the impact of financial sector reforms, financial deepening and intellectual property protection on the accumulation of knowledge for one of the world’s largest developing countries. The findings indicate that increased intellectual property...

As we witness profound changes in the global economy, and as it becomes apparent that the so-called “Revived Bretton Woods System” may be nothing more than a temporary non sustainable financing of the US structural internal imbalance, favored by the global role of the dollar, which has...

Starting from February 2007 world market is facing what we call enantiodromia. The indices are correcting. It is not known whether this is the final correction but there is no doubt that the bubble has burst and air out of it is gushing out slowly (fast on an extended time frame). The biggest...

The U.S. mortgage loan foreclosure crisis has become the biggest risk facing the U.S. economy. In August 2007, the National Association of Business Economists named the combined effects of subprime debt defaults and excessive personal and corporate debt as the greatest short-term threat to the...

This paper discusses that many of the exaggerated claims that globalization has been an important element in the reduction of the inflation in the recent years do not come true. The globalization has, however, the potential to contribute to the stabilization of economies and this has been...

The main objective of this paper is to explore the determinants of private consumption volatility in India. While considerable effort has been expended on the examining the relationship between growth and volatility, we focus on financial repression and private consumption volatility in India....