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other pacific countries are included, China is notable for its exclusion from the process thus far. This paper uses … numerical simulation methods to assess the potential effects of a TPP agreement on China and the other participating countries …. Simulation results reveal that China will be hurt by TPP initiatives, but the negative effects are relatively small given the …
Persistent link: https://www.econbiz.de/10013106304
In China, local governments have actively contributed to the growth of new firms. In Russia, local governments have … present in China, but not in Russia. Transition in China has taken place under the tight control of the communist party. As a … behavior of local governments in Russia. First, capture by old firms, leading local governments to protect them from …
Persistent link: https://www.econbiz.de/10013231568
This paper places current efforts at international economic policy coordination in historical perspective. It argues that successful cooperation is most likely in four sets of circumstances. First, when it centers on technical issues. Second, when cooperation is institutionalized - when...
Persistent link: https://www.econbiz.de/10013091942
This paper analyzes current stresses in the two key areas that concerned the architects of the original Bretton Woods system: international liquidity and exchange rate management. Despite radical changes since World War II in the market context for liquidity and exchange rate concerns, they...
Persistent link: https://www.econbiz.de/10013092069
In a recent paper, Barrett (2006) reaches the conclusion that in general the answer to the question in the title is no. We show in this paper that a focus on the R&D phase in the development of breakthrough technologies changes the picture. The stability of international treaties improves and...
Persistent link: https://www.econbiz.de/10013071103
The Gold Pool (1961-1968) was one of the most ambitious cases of central bank cooperation in history. Major central banks pooled interventions – sharing profits and losses – to stabilize the dollar price of gold. Why did it collapse? From at least 1964, the fate of the Pool was in fact tied...
Persistent link: https://www.econbiz.de/10012943606
This article tells how the world achieved a working consensus on the core principles of monetary policy. The story begins with the muddled state of affairs in the late 1970s. It then asks: How did Federal Reserve policy produce an understanding of the practical principles of monetary policy? How...
Persistent link: https://www.econbiz.de/10012759712
The accumulation of international reserves by emerging markets raises the question of how to best utilize these funds. This paper explores two routes through which the pooling of reserves could enhance stability and welfare. First, the reserve pool could be used for emergency lending in response...
Persistent link: https://www.econbiz.de/10012760717
Achieving efficiency for many global environmental problems requires voluntary cooperation among sovereign countries due to the public good nature of pollution abatement. The theory of international environmental agreements (IEAs) in economics seeks to understand how cooperation among countries...
Persistent link: https://www.econbiz.de/10013052684
Different countries have been following different reform paths since the early 1990s. We develop a simple dynamic model of policy reform that captures some of the determinants that underlie these differences. The model emphasizes the interaction between domestic institutions and international...
Persistent link: https://www.econbiz.de/10013021479