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Globalization, Growth and Crises : The View from Latin America
Edwards, Sebastian - 2008
In this paper I analyze the role of openness and globalization in Latin America's economic development. The paper is …
Persistent link: https://www.econbiz.de/10012771804
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Why are the Critics so Convinced that Globalization is Bad for the Poor?
Aisbett, Emma - 2014
Proponents of globalization often conclude that its critics are ignorant or self-motivated. In doing so, they have … missed a valuable opportunity to discover both how best to communicate the benefits of globalization, and how to improve on … the current model of globalization. This paper examines the values, beliefs and facts that lead critics to the view that …
Persistent link: https://www.econbiz.de/10013065371
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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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Optimal Reserve Management and Sovereign Debt
Alfaro, Laura - 2010
To study the joint decision of holding sovereign debt and reserves, we construct a stochastic dynamic equilibrium model that incorporates willingness-to-pay incentive problems. In this setup, debt and assets are not perfect substitutes, as reserves can be used even after a country has defaulted....
Persistent link: https://www.econbiz.de/10012759995
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Liquidity and Foreign Asset Management Challenges for Latin American Countries
Aizenman, Joshua - 2014
We analyze the degree to which the growing importance of sovereign wealth funds [SWFs] and the diffusion of inflation targeting and augmented Taylor rules have impacted the post crisis adjustment of Latin American Countries (LATAM) to the challenges associated with terms of trade and financial...
Persistent link: https://www.econbiz.de/10013044618
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Sudden Stop, Financial Factors and Economic Collpase in Latin America : Learning from Argentina and Chile
Calvo, Guillermo A.; Talvi, Ernesto - 2021
This paper shows that the Russian 1998 crisis had a big impact on capital flows to Emerging Market Economies, EMs, especially in Latin America, and that the impact of the Russian shock differs quite markedly across EMs. To illustrate this statement, we compare the polar cases of Chile and...
Persistent link: https://www.econbiz.de/10013222318
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Causes of the Great Recession of 2007-9 : The Financial Crisis is the Symptom Not the Disease!
Jagannathan, Ravi - 2010
Globalization has made it possible for labor in developing countries to augment labor in the developed world, without …
Persistent link: https://www.econbiz.de/10013150645
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Precautionary Demand for Foreign Assets in Sudden Stop Economies : An Assessment of the New Merchantilism
Durdu, Ceyhun Bora - 2007
Financial globalization was off to a rocky start in emerging economies hit by Sudden Stops since the mid 1990s. Foreign … saving affects foreign assets via three mechanisms: business cycle volatility, financial globalization, and Sudden Stop risk … Irving Fisher's debt-deflation mechanism. Our results show that financial globalization and Sudden Stop risk are plausible …
Persistent link: https://www.econbiz.de/10012776881
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Economic History and Contemporary Challenges to Globalization
O'Rourke, Kevin - 2018
The paper surveys three economic history literatures that can speak to contemporary challenges to globalization: the … literature on the anti-globalization backlash of the nineteenth century, focused largely on trade and migration; the literature …
Persistent link: https://www.econbiz.de/10012906450
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Sudden Stops : Determinants and Output Effects in the First Era of Globalization, 1880-1913
Bordo, Michael D. - 2010
in capital inflows during an era of intensified globalization. We find that higher levels of original sin (hard currency …
Persistent link: https://www.econbiz.de/10012759772