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Large Hoarding of International Reserves and the Emerging Global Economic Architecture
Aizenman, Joshua - 2007
patterns; and possibly even export promotion, though this mercantilist use of reserves remains debatable due to possible … coordination issues. Countries following an export oriented growth strategy may end up with competitive hoarding, akin to … competitive devaluations. The sheer size of China, and its lower sterilization costs suggests that China may be the winner of a …
Persistent link: https://www.econbiz.de/10012465374
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International Coordination and Precautionary Policies
Aizenman, Joshua - 2015
This paper highlights the rare conditions leading to international cooperation, and the reasons why eliciting this cooperation may be beneficial in preventing adverse tail shocks from spiraling into global depressions. In normal times, deeper macro cooperation among countries is associated with...
Persistent link: https://www.econbiz.de/10012456878
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Capital Flows and Economic Growth in the Era of Financial Integration and Crisis, 1990-2010
Aizenman, Joshua - 2011
We investigate the relationship between economic growth and lagged international capital flows, disaggregated into FDI, portfolio investment, equity investment, and short-term debt. We follow about 100 countries during 1990-2010 when emerging markets became more integrated into the international...
Persistent link: https://www.econbiz.de/10012461155