and domestic interest rate spreads in Argentina. This paper - a product of Economic Policy and Poverty Reduction, World …

markets. The analysis shows that financial integration may be welfare reducing if world interest rates under openness are …

implications of this approach are analyzed in a model in which domestic banks borrow at a premium on world capital markets, and … degree of international financial integration. …

, relative predominance of construction, manufacturing, and wholesale and retail sectors, and low international reserves. Finally …

trinity ; international reserves ; financial liberalization ; exchange rate ; FDI flows …

international reserve accumulation. The evolution of our trilemma indexesʺ illustrates that, after the early 1990s, industrialized … accelerating financial openness. This recent trend appears to be sustained by using sizable international reserves as a buffer. We … the level and the volatility of inflation. -- Impossible trinity ; international reserves ; financial liberalization …

Wolf]. We construct a stylized model, predicting that lagged relative GDP of a country relative to the GDP of all countries … association between the GDP share of a country and its prize share tends to be logistic - above a threshold, there is a "take offʺ … range, where the prize share increases at an accelerating rate with the relative GDP share of the country, until it reaches …