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Bond Markets as Conduits for Capital Flows : How Does Asia Compare?

Eichengreen, Barry - 2006

of financial integration or interrelatedness, asking how Asia compares with Europe and Latin America and with the base … head and shoulders above other regions in terms of financial integration. More interesting is that Asia already seems to …, and greater transparency that lead to larger and better developed financial systems in Asia, something that is conducive …

Persistent link: https://www.econbiz.de/10012466257

The Impacts of Crises on the Trilemma Configurations

Aizenman, Joshua; Chinn, Menzie David; Itō, Hiro - National Bureau of Economic Research - 2022

The "monetary trilemma" - the hypothesis that full monetary policy autonomy, exchange rate stability, and financial openness cannot simultaneously be achieved - has long been studied. Recently, holding international reserves (IR) has become an important policy instrument, insuring against...

Persistent link: https://www.econbiz.de/10013362059

Savings and the Terms of Trade Under Borrowing Constraints

Agenor, Pierre-Richard - 2000

This paper examines the extent to which permanent terms-of-trade shocks have an asymmetric effect on private savings. The first part uses a simple three-period model to show that, if households expect to face binding borrowing constraints in bad states of nature, savings rates will respond...

Persistent link: https://www.econbiz.de/10012471007

Policy Evaluation in Uncertain Economic Environments

Brock, William A. - 2003

This paper develops a decision-theoretic approach to policy analysis. We argue that policy evaluation should be conducted on the basis of two factors: the policymaker's preferences, and the conditional distribution of the outcomes of interest given a policy and available information. From this...

Persistent link: https://www.econbiz.de/10012468673

Exporting Raises Productivity in Sub-Saharan African Manufacturing Plants

Van Biesebroeck, Johannes - 2003

Proponents of trade liberalization argue that it will force firms to produce closer to the production possibility frontier and that the frontier will move out faster. In particular, plants that export will achieve a higher productivity level. However intuitive the argument, empirical evidence is...

Persistent link: https://www.econbiz.de/10012468678

The Economic Tragedy of the XXth Century : Growth in Africa

Artadi, Elsa V. - 2003

The dismal growth performance of Africa is the worst economic tragedy of the XXth century. We document the evolution of per capita GDP for the continent as a whole and for subset of countries south of the Sahara desert. We document the worsening of various income inequality indexes and we...

Persistent link: https://www.econbiz.de/10012468832

Does Competition Encourage Credit Provision? Evidence from African Trade Credit Relationships

Fisman, Raymond - 2003

Previous work has claimed that monopoly power facilitates the provision of credit, since monopolists are better able to enforce payment. Here, we argue that if relationship-specific investments are required by borrowers to establish creditworthiness, monopoly power may reduce credit provision...

Persistent link: https://www.econbiz.de/10012469039

Growth Economics and Reality

Brock, William A. - 2000

This paper questions current empirical practice in the study of growth. We argue that much of the modern empirical growth literature is based on assumptions concerning regressors, residuals, and parameters which are implausible both from the perspective of economic theory as well as from the...

Persistent link: https://www.econbiz.de/10012470690

Why Not Africa?

Freeman, Richard B. - 1999

Various arguments have been used to explain Sub-Saharan Africa's economic decline. We find that a stress on investments in education as a prerequisite for more rapid growth is misplaced; that greater openness is far from sufficient to insure economic progress; that income inequality and urban bias...

Persistent link: https://www.econbiz.de/10012471865

Trade Policy and Economic Performance in Sub-Saharan Africa

Rodrik, Dani - 1998

This study focuses on the role of trade and trade policy in achieving sustained long-term growth in Africa. One major conclusion is that trade policy in Sub-Saharan Africa works much the same way that it does elsewhere. High levels of trade restrictions have been an important obstacle to exports...

Persistent link: https://www.econbiz.de/10012472246

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