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Financial crises in emerging markets: a canonical model
Chang, Roberto; Velasco, Andres - 1998
We present a simple model that can account for the main features of recent financial crises in emerging markets. The international illiquidity of the domestic financial system is at the center of the problem. Illiquid banks are a necessary and a sufficient condition for financial crises to...
Persistent link: https://www.econbiz.de/10010397417
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Trends in velocity and policy expectations
Gordon, David B.; Leeper, Eric M.; Zha, Tao - 1997
U.S. velocity of base money exhibits three distinct trends since 1950. After rising steadily for thirty years, it flattens out in the 1980s and falls substantially in the 1990s. This paper explores whether the observed secular movements in velocity can be accounted for exclusively by endogenous...
Persistent link: https://www.econbiz.de/10010397469
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The Asian liquidity crisis
Chang, Roberto; Velasco, Andres - 1998
A country's financial system is internationally illiquid if its potential short-term obligations in foreign currency exceed the amount of foreign currency it can have access to in short notice. This condition may be necessary and sufficient for financial crises and/or exchange rate collapses...
Persistent link: https://www.econbiz.de/10010397536
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Macroeconomic effects of China's financial policies
Chen, Kaiji; Zha, Tao - 2018
The Chinese economy has undergone three major phases: the 1978-97 period marked as the SOE-led economy, the 1998-2015 phase as the investment-driven economy, and the new normal economy since 2016. All three economies have been shaped by the government financial policies, defined as a set of...
Persistent link: https://www.econbiz.de/10012030278
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Bayesian Nash Equilibria with a Provision Point: An Experimental Test
Johnson, Lowell - 1997
This paper extends theory and experimentation in the context of two parties in a group who contribute to a public good … with a provision point. This study analyzes the voluntary contributions game in which a public good is provided if and only … examine their efficiency implications. In an experimental test of a public-goods problem with a threshold and rebate, the …
Persistent link: https://www.econbiz.de/10010334331
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Public food procurement from smallholder farmers: Literature review and best practices
Miranda, Ana - 2018
. In a similar vein, public food procurement has also been used to promote a number of positive outcomes. There is growing … interest among countries and international institutions in using public food purchases to promote the integration of … smallholders into markets and strengthen rural livelihoods. Despite the expansion of public food procurement from smallholder …
Persistent link: https://www.econbiz.de/10012030402
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Aligning policy and legal frameworks for supporting smallholder farming through public food procurement: The case of home-grown school feeding programmes
Swensson, Luana F. Joppert - 2018
Food Procurement Programmes (IFPPs)3 - are based on the premise that public institutions, when using their financial … needs by addressing additional social, environmental or economic needs that contribute to the overall public good of the … state (McCrudden 2004; De Schutter 2014; Kelly and Swensson 2017). In particular, public food procurement initiatives have …
Persistent link: https://www.econbiz.de/10012030403
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Government financing in an endogenous growth model with financial market restrictions
Espinosa-Vega, Marco A.; Yip, Chong K. - 2000
In this paper we develop an endogenous growth model with market regulations on explicitly modeled financial intermediaries to examine the effects of alternative government financing schemes on growth, inflation, and welfare. ; We find that in the presence of binding legal reserve requirements, a...
Persistent link: https://www.econbiz.de/10010397468
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A public finance analysis of multiple reserve requirements
Espinosa-Vega, Marco; Russell, Steven - 1999
This paper analyzes multiple reserve requirements of the type that have been imposed by a number of developing countries. We show that previous theoretical work on this topic has not succeeded in providing a social welfare rationale for the existence of multiple reserve requirements. We go on to...
Persistent link: https://www.econbiz.de/10010397490
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A public finance analysis of multiple reserve requirements
Espinosa-Vega, Marco; Russell, Steven - 1998
This paper analyzes multiple reserve requirements of the type that have been imposed by a number of developing countries. We show that previous theoretical work on this topic has not succeeded in providing a social welfare rationale for the existence of multiple reserve requirements: in the...
Persistent link: https://www.econbiz.de/10010397493