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Persistent link: https://www.econbiz.de/10013416383
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/10013224884
This paper studies the endogenous determination of financial and trade openness. First, we outline a theoretical framework leading to two-way feedbacks between the different modes of openness; next, we identify these feedbacks empirically. We find that one standard deviation increase in...
Persistent link: https://www.econbiz.de/10013213443
The purpose of this paper is to offer an explanation of why a developing country may adopt a partial reform under which foreign direct investments are controlled. We consider a country where the ruling elite [referred to as State capital] prevents the entry of Foreign capital and taxes the...
Persistent link: https://www.econbiz.de/10013237012
This paper investigates the association between commercial and financial openness of developing countries. The data suggest that, controlling for GDP/Capita changes and allowing for country specific effects, increase in a developing country's (exports + imports)/GDP is associated with a highly...
Persistent link: https://www.econbiz.de/10013218077
Persistent link: https://www.econbiz.de/10011563005
rate stability and monetary autonomy) continues to be a valid macroeconomic framework. The financial globalization during … financial globalization has been the growing exposure of developing countries to costly capital flights and deleveraging crises …
Persistent link: https://www.econbiz.de/10008647622
stability and monetary autonomy) remains a valid macroeconomic framework. The financial globalization during 1990s-2000s reduced … globalization is the growing exposure of developing countries to capital flights, and deleveraging crises. The significant costs …
Persistent link: https://www.econbiz.de/10008908358
Persistent link: https://www.econbiz.de/10012392555
world's largest exporters, a substantial importer of raw materials, intermediate outputs, and other goods, and both a … together an expert group of contributors, China's Growing Role in World Trade undertakes an empirical investigation of the … documents data patterns that enhance our understanding of China's trade and what it may mean to the rest of the world …
Persistent link: https://www.econbiz.de/10014487914