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This study addresses major policy issues associated with the future of the international monetary system. It focuses on whether there is a need for fundamental reform of this system, defined as systematic and sustained effort on the part of the three major industrial countries (United States,...
Persistent link: https://www.econbiz.de/10014404978
Persistent link: https://www.econbiz.de/10014411110
China's high corporate savings rate is commonly claimed to be a key driver for the country's large current account surplus. The mainstream explanation for high corporate savings is a combination of windfall profits in state-owned firms, especially in resource sectors, and mis-governance of...
Persistent link: https://www.econbiz.de/10012462224
We examine the growth promoting roles of R&D, international R&D spillovers, and trade in a world econometric model. A …
Persistent link: https://www.econbiz.de/10012473217
We use time-series methods to estimate a simple aggregate-supply aggregate-demand model in order to analyze the comparative performance of fixed- and flexible-exchange-rate systems and test competing hypotheses designed to explain shifts between exchange-rate regimes. The paper provides a...
Persistent link: https://www.econbiz.de/10012474799
Since the early 1980s, well over 100 countries have experienced systemic bank insolvencies. An important innovation among the resulting policies for reestablishing bank soundness has been the reliance on market-based instruments and policies, in contrast to the largely non-market-oriented...
Persistent link: https://www.econbiz.de/10014400758
There is no doubt that the open multilateral trading system after World War II was a key ingredient in the rapid … economic development of the entire world. Especially in Hong Kong, Korea, Singapore, and Taiwan, exports increased dramatically … emerge as significant factors affecting world trade. This volume contains thirteen papers that analyze the tensions between …
Persistent link: https://www.econbiz.de/10014488245