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What Matters for Financial Development? Capital Controls, Institutions, and Interactions

Chinn, Menzie D. - 2005

We extend our earlier work, focusing on the links between capital account liberalization, legal and institutional development, and financial development, especially that in equity markets. In a panel data analysis encompassing 108 countries and twenty years ranging from 1980 to 2000, we explore...

Persistent link: https://www.econbiz.de/10012467313

China's Current Account and Exchange Rate

Cheung, Yin-Wong - 2009

predicted by estimates based upon a cross-country sample, when using the 2006 vintage of the World Development Indicators. The …

Persistent link: https://www.econbiz.de/10012463974

Assessing the Emerging Global Financial Architecture : Measuring the Trilemma's Configurations over Time

Aizenman, Joshua - 2008

We develop a methodology that intuitively characterizes the choices countries have made with respect to the trilemma during the post Bretton-Woods period. The paper first outlines the new metrics for measuring the degree of exchange rate flexibility, monetary independence, and capital account...

Persistent link: https://www.econbiz.de/10012464115

A Faith-based Initiative : Does a Flexible Exchange Rate Regime Really Facilitate Current Account Adjustment?

Chinn, Menzie D. - 2008

The assertion that a flexible exchange rate regime would facilitate current account adjustment is often repeated in policy circles. In this paper, we compile a data set encompassing data for over 170 countries are included, over the 1971-2005 period, and examine whether the rate of current...

Persistent link: https://www.econbiz.de/10012464227

The Euro May Over the Next 15 Years Surpass the Dollar as Leading International Currency

Chinn, Menzie D. - 2008

major currencies in the reserve holdings of the world's central banks. Significant factors include: size of the home country …

Persistent link: https://www.econbiz.de/10012464738

ICT Use in the Developing World : An Analysis of Differences in Computer and Internet Penetration

Chinn, Menzie D. - 2006

Computer and Internet use, especially in developing countries, has expanded rapidly in recent years. Even in light of this expansion in technology adoption rates, penetration rates differ markedly between developed and developing countries and across developing countries. To identify the...

Persistent link: https://www.econbiz.de/10012466283

Testing Uncovered Interest Parity at Short and Long Horizons during the Post-Bretton Woods Era

Chinn, Menzie D. - 2005

The hypothesis that interest rate differentials are unbiased predictors of future exchange rate movements has been almost universally rejected in empirical studies. In contrast to previous studies, which have used short-horizon data, we test this hypothesis using interest rates on...

Persistent link: https://www.econbiz.de/10012467610

The Determinants of the Global Digital Divide : A Cross-Country Analysis of Computer and Internet Penetration

Chinn, Menzie D. - 2004

To identify the determinants of cross-country disparities in personal computer and Internet penetration, we examine a panel of 161 countries over the 1999-2001 period. Our candidate variables include economic variables (income per capita, years of schooling, illiteracy, trade openness),...

Persistent link: https://www.econbiz.de/10012468005

A Decomposition of Global Linkages in Financial Markets Over Time

Forbes, Kristin J. - 2003

This paper tests if real and financial linkages between countries can explain why movements in the world's largest … between the world's 5 largest economies and about 40 other markets to decompose the cross-country factor loadings into: direct … to be the most important determinant of how movements in the world's largest markets affect financial markets around the …

Persistent link: https://www.econbiz.de/10012469145

Capital Account Liberalization, Institutions and Financial Development : Cross Country Evidence

Chinn, Menzie D. - 2002

The empirical relationship between capital controls and the financial development of credit and equity markets is examined. We extend the literature on this subject along a number of dimensions. Specifically, we (1) investigate a substantially broader set of proxy measures of financial...

Persistent link: https://www.econbiz.de/10012469747