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I use a large cross country data set and panel probit analysis to investigate the way in which the interaction between trade and financial openness affect the probability of external crises. This analysis is related to debate on the adequate sequencing of reform. I also investigate the role...
Persistent link: https://www.econbiz.de/10012464263
implication of the theory is that globalization forces could induce monetary authorities, to put a greater emphasis on reducing …
Persistent link: https://www.econbiz.de/10012467036
Recent theoretical work predicts that an important margin of adjustment to deregulation or trade reforms is the … detailed firm-level data from India, we provide the first evidence on the patterns of multi-product firm production in a large …-section, multi-product firms in India look remarkably similar to their U.S. counterparts, confirming the predictions of recent …
Persistent link: https://www.econbiz.de/10012464518
financial globalization. India's authorities have taken a cautious and calibrated path to capital account opening, which has …In this paper, I analyze India's approach to capital account liberalization through the lens of the new literature on … the key challenge now facing India's policymakers on this front …
Persistent link: https://www.econbiz.de/10012463989
For a variety of reasons described in the paper, improving the performance of urban school districts is more difficult today than it was several decades ago. Yet economic and social changes make performance improvement especially important today. Two quite different bodies of research provide...
Persistent link: https://www.econbiz.de/10012464855
deregulation in China. Such deregulation leads to higher screening standards, lower interest rates, and lower delinquency rates for … following deregulation. Deregulation also amplifies bank credit from productive private firms to inefficient SOEs due mainly to …
Persistent link: https://www.econbiz.de/10012479745
The deregulation of securities laws|in particular the National Securities Markets Improvement Act (NSMIA) of 1996|has …
Persistent link: https://www.econbiz.de/10012480262
We empirically and theoretically study the effects of capital flows on resource allocation within sectors and cross-sectors. Novel data on service firms - in addition to manufacturing firms - allows us to assess two channels of resource reallocation. Capital inflows lower the relative price of...
Persistent link: https://www.econbiz.de/10012481566
In this paper we reconsider the evidence on capital account liberalization and growth. While we find indications of a positive association, the effects vary with time, with how capital account liberalization is measured, and with how the relationship is estimated. The evidence that the effects...
Persistent link: https://www.econbiz.de/10012470268
The purpose of this paper is to assess how restrictions on capital mobility affect adjustment to a tariff liberalization policy. This is done by comparing the adlustment process under free and restricted convertibility of foreign assets in a regime where the commercial exchange rate is pegged....
Persistent link: https://www.econbiz.de/10012477844