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This paper studies the cross-country variation of the fiscal stimulus and the exchange rate adjustment propagated by the global crisis of 2008-9, identifying the role of economic structure in accounting for the heterogeneity of response. We find that greater de facto fiscal space prior to the...
Persistent link: https://www.econbiz.de/10009272034
This paper evaluates the impact of globalization on the tax bases of countries at varying stages of development. We see … globalization as a process that induces countries to embrace greater trade and financial integration, and macro stabilization. This … to collectʺ taxes. We confirm the robustness of the main results to IV methodology, where trade globalization is inferred …
Persistent link: https://www.econbiz.de/10003855345
This paper analyzes competing interpretations for the large increases in the hoarding of international reserves by developing countries. While the first phase of the rapid hoarding of reserves in the aftermath of the East Asian crisis has been dominated by self insurance against exposure to...
Persistent link: https://www.econbiz.de/10003855040