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The main goal of the promotion paper is to forecast Latvia's current account, and using this forecast to define …, whether the current account deficit is a significant risk factor for Latvian economy. The modelling of Latvia's current … crisis during the time period before Latvia's accession into the Economic and Monetary Union (EMU). The econometric models …
Persistent link: https://www.econbiz.de/10008530704
This is the chartbook of individual country exchange rate histories and their experience with parallel markets, 1946-2001 that accompanies "The Modern History of Exchange Rate Arrangements: A Reinterpretation." We develop a novel system of reclassifying historical exchange rate regimes. One key...
Persistent link: https://www.econbiz.de/10005789352
Malaysia is a small country but has big achievement in economic development to its credit. This year (August 2007) the country celebrates the completion of the first 50 years of its independence. It is in the fitness of things that this paper takes a look at its economic achievements over the...
Persistent link: https://www.econbiz.de/10005789546
There are cases where the parallel (or secondary) exchange rate applies only to a few limited transactions. An example is the “switch pound” in the United Kingdom during September 1950 through April 1967. However, it is not unusual for dual or parallel markets (legal or otherwise) to account...
Persistent link: https://www.econbiz.de/10005790458
The Indian government has taken a number of incremental measures to liberalize legal and administrative impediments to international capital movements in recent years. This paper analyzes the extent to which the effectiveness of capital controls in India, measured by the domestic less net...
Persistent link: https://www.econbiz.de/10005836349
This paper was one of the first writings that appeared on the subject and presented at a local conference while pending publication with the Indian Economic Journal.After a brief Introduction, Section 2 discusses broadly the process used for generating the data used for analysis as also the...
Persistent link: https://www.econbiz.de/10008543803
Economic theory suggests that opening the capital account should allow a country to diversify away economic shocks, increase capital inflows, expand economic growth and efficiency and encourage governments to pursue good policies, the empirical evidence with regard to these theoretical...
Persistent link: https://www.econbiz.de/10008529231
This paper analyzes the extent to which the effectiveness of capital controls in India have changed over time. We begin by calculating deviations from covered interest parity utilizing data from the 3-month offshore non-deliverable rupiah forward (NDF) market. Then, using the self-exciting...
Persistent link: https://www.econbiz.de/10008565112
In this note we summarize our recent paper, where we delved into the details of this apple-to-oranges problem with the aim of defining a minimum common ground. We begin our analysis by explicitly documenting the kinds of measures that are construed as capital controls. Along the way, we describe...
Persistent link: https://www.econbiz.de/10009004145
While a growing amount of economic evidence has emerged that capital controls as a tool may both be ineffective for many of their stated purposes, there has been little examination of their long-term effects that can harm rather than help entrepreneurship in emerging markets. The purpose of this...
Persistent link: https://www.econbiz.de/10011258070