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The Federal Reserve, Emerging Markets, and Capital Controls : A High Frequency Empirical Investigation
Edwards, Sebastian - 2012
In this paper I use weekly data from seven emerging nations - four in Latin America and three in Asia - to investigate … dynamics - in Latin America and Asia. The results also indicate that capital controls are not an effective tool for isolating …
Persistent link: https://www.econbiz.de/10013097663
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Living with the Trilemma Constraint : Relative Trilemma Policy Divergence, Crises, and Output Losses for Developing Countries
Aizenman, Joshua - 2013
This paper investigates the potential impacts of the degree of divergence in open macroeconomic policies in the context of the trilemma hypothesis. Using an index that measures the relative policy divergence among the three trilemma policy choices, namely monetary independence, exchange rate...
Persistent link: https://www.econbiz.de/10013075864
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A New Approach to Measuring Financial Contagion
Bae, Kee-Hong - 2010
This paper proposes a new approach to evaluate contagion in financial markets. Our measure of contagion captures the co-incidence of extreme return shocks across countries within a region and across regions that cannot be explained by linear propagation models of shocks. We characterize the...
Persistent link: https://www.econbiz.de/10012763287
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Capital Flows and the Behavior of Emerging Market Equity Returns
Bekaert, Geert - 2010
Foreign portfolio flows may reflect deep changes in the functioning of an emerging market economy and its capital markets. Using a database of monthly net U.S. equity flows, we investigate the relation of these flows to the behavior of equity returns, the structural characteristics of the...
Persistent link: https://www.econbiz.de/10012763588
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Tax Revenue Trends in Asia and Latin America : A Comparative Analysis
Aizenman, Joshua - 2015
We take stock of and compare tax revenue trends in Asia and Latin America. The tax revenues to GDP ratios increased …
Persistent link: https://www.econbiz.de/10013011112
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Bad Investments and Missed Opportunities? Postwar Capital Flows to Asia and Latin America
Ohanian, Lee E. - 2015
Since 1950, the economies of East Asia grew rapidly but received little inter-national capital, while Latin America … flows. We develop a DSGE model of Asia, Latin America, and the Rest ofthe World that features an open-economy business cycle …
Persistent link: https://www.econbiz.de/10013011451
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Closed Jaguar, Open Dragon : Comparing Tariffs in Latin America and Asia Before World War Ii
Clemens, Michael A.; Williamson, Jeffrey G. - 2021
Despite an enormous literature that has analyzed the comparative experiences of Latin America and Asia in post … highest tariff barriers on earth before 1914; Asia had the lowest. Protected Latin America's belle ‚poque also boasted some of … the most explosive growth performance on earth, while Asia registered some of the worst. What brought the two regions to …
Persistent link: https://www.econbiz.de/10013213056
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Heterogeneous Paths of Industrialization
Huneeus, Federico; Rogerson, Richard - 2022
Industrialization experiences differ substantially across countries. We use a benchmark model of structural change to shed light on the sources of this heterogeneity and, in particular, the phenomenon of premature deindustrialization. Our analysis leads to three key findings. First, benchmark...
Persistent link: https://www.econbiz.de/10013300930
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Financial Development and Output Growth in Developing Asia and Latin America : A Comparative Sectoral Analysis
Aizenman, Joshua - 2015
We use data from the Groningen Growth and Development Centre (GGDC) database to perform preliminary empirical analysis of the interplay between quality and quantity of finance in accounting for the output growth of ten sectors. We review the existing literature and some salient open questions...
Persistent link: https://www.econbiz.de/10013029019
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Hither Thou Shalt Come, But No Further : Reply to "the Colonial Origins of Comparative Development: An Empirical Investigation: Comment"
Acemoglu, Daron - 2011
versions of his other critiques. His second argument that all the data from Latin America and much of the data from Africa …
Persistent link: https://www.econbiz.de/10013126216