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First generation models of speculative attacks show that apparently random speculative attacks on policy regimes can be fully consistent with rational and well-informed speculative behavior. Unfortunately, models driven by a conflict between exchange rate policy and other macroeconomic...
Persistent link: https://www.econbiz.de/10012472513
, Colombia and Mexico -- and three East Asian countries--Korea, Malaysia and Thailand. It identifies a number of potential …
Persistent link: https://www.econbiz.de/10012473042
This paper focuses on the 1995 Latin American and 1997 East Asian crises using an insurance-based model of financial crises. First the model of Dooley (forthcoming) is described. Second, some empirical evidence for an insurance model is presented. The key variables in this approach include the...
Persistent link: https://www.econbiz.de/10012471706
When firms from developed markets acquire firms in emerging markets, market-capitalization-weighted monthly joint returns show a statistically significant increase of 1.8%. Panel data estimations suggest that the value gains from cross-border M&A transactions stem from the transfer of majority...
Persistent link: https://www.econbiz.de/10012467817
In this paper I discuss some of the most important lessons on exchange rate policies in emerging markets during the last 35 years. The analysis is undertaken from the perspective of both the Latin American and East Asian nations. Some of the topics addressed include: the relationship between...
Persistent link: https://www.econbiz.de/10012461584
known as the most distinct characteristic of Asian EMEs. Financial globalization seems to have made asset prices and …
Persistent link: https://www.econbiz.de/10012456407
In this paper I analyze the role of openness and globalization in Latin America's economic development. The paper is …
Persistent link: https://www.econbiz.de/10012464617
globalization? Why was industrialization so weak? Why was inequality on the rise? This paper offers an answer to these questions. It … massive de-globalization during the decades of lost growth' between the 1820s and the 1870s. Next, it documents what happened … World War I, while it fell thereafter. The correlation between globalization and inequality is likely to have been causal …
Persistent link: https://www.econbiz.de/10012469011
history and economic theory both provide ample grounds for anticipating that advanced stages of economic globalization would … different reactions are related to the relative salience of different types of globalization shocks …
Persistent link: https://www.econbiz.de/10012455123
We survey the recent literature studying the effects of globalization on inequality in Latin America. Our focus is on … dimensions of inequality, and developing new methodologies to capture the many facets of globalization's relationship to … that focus on distinct aspects of globalization's relationship to inequality …
Persistent link: https://www.econbiz.de/10014322846