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Dornbusch, Rudi - 2001

Over the past 20 years there has been a proliferation of emerging market crises and a vast accumulation of commentary -- descriptive, theoretical and applied -- highlighting the origins and mechanics of each crisis and of crises in general. And there is plenty of analysis on how to deal with...

Persistent link: https://www.econbiz.de/10012470398

Fewer Monies, Better Monies

Dornbusch, Rudi - 2001

In the aftermath of emerging market crises from Russia to Asia and Latin America, there is a quest for better monetary arrangements that are more crisis-proof. Fixed rates are out, flexible rates are in with a policy focus on inflation targeting. But there is, of course, the alternative of...

Persistent link: https://www.econbiz.de/10012470400

Financial Systems, Economic Growth, and Globalization

Rousseau, Peter L. - 2001

This paper brings together two strands of the economic literature -- that on the finance-growth nexus and that on capital market integration -- and explores key issues surrounding each strand through both institutional/country histories and formal quantitative analysis. We begin with studies of...

Persistent link: https://www.econbiz.de/10012470401

Who Owns the Media?

Djankov, Simeon - 2001

We examine the patterns of media ownership in 97 countries around the world. We find that almost universally the …

Persistent link: https://www.econbiz.de/10012470436

Does the Current Account Matter?

Edwards, Sebastian - 2001

The purpose of this paper is to investigate in detail the behavior of the current account in emerging economies, and in particular its role if any in financial crises. Models of current account behavior are reviewed, and a dynamic model of current account sustainability is developed. The...

Persistent link: https://www.econbiz.de/10012470449

Dollarization and Economic Performance : An Empirical Investigation

Edwards, Sebastian - 2001

In this paper I investigate the historical record of countries that have lived under a 'dollarized' monetary system. As it turns out, this is a very small group of counties, most of which have operated under very special circumstances, and for which there are very limited data. The results...

Persistent link: https://www.econbiz.de/10012470450

Stock Market Liberalizations and the Repricing of Systematic Risk

Chari, Anusha - 2001

(investible) are repriced according to the difference in the covariance of their returns with the local and world market. An … investible firm whose return covariance with the local market exceeds that with the world market by 0.01 will experience a firm … no significant relationship to differences in local and world covariances. These findings suggest that the CAPM has …

Persistent link: https://www.econbiz.de/10012470459

Searching for Prosperity

Kremer, Michael - 2001

Quah's [1993a] transition matrix analysis of world income distribution based on annual data suggests an ergodic …

Persistent link: https://www.econbiz.de/10012470474

Lending Booms : Latin America and the World

Gourinchas, Pierre-Olivier - 2001

the balance of payments. Comparing Latin America and the rest of the world, we find that Latin America lending booms make …

Persistent link: https://www.econbiz.de/10012470475

Does Financial Liberalization Spur Growth?

Bekaert, Geert - 2001

We show that equity market liberalizations, on average, lead to a one percent increase in annual real economic growth over a five-year period. The liberalization effect is not spuriously accounted for by macro-economic reforms and does not reflect a business cycle effect. Although financial...

Persistent link: https://www.econbiz.de/10012470479