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A surprisingly large number of countries have been able to finance a significant fraction of domestic investment using foreign finance for extended periods. While many of these episodes are in low-income countries where official finance is more important than private finance, we also identify a...
Persistent link: https://www.econbiz.de/10011516713
A surprisingly large number of countries have been able to finance a significant fraction of domestic investment using foreign finance for extended periods. While many of these episodes are in low-income countries where official finance is more important than private finance, this paper also...
Persistent link: https://www.econbiz.de/10011519098
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This paper considers the general equilibrium relationship between exchange rates and global imbalances. It emphasizes that the exchange rate is not a primitive but an equilibrium price determined by the policy mix. It uses extensions of the two-country Obstfeld-Rogoff model to analyze the...
Persistent link: https://www.econbiz.de/10008937609
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A surprisingly large number of countries have been able to finance a significant fraction of domestic investment using foreign finance for extended periods. While many of these episodes are in low-income countries where official finance is more important than private finance, this paper also...
Persistent link: https://www.econbiz.de/10012958083
in the early 1990s, and the ensuing Mexican, South American, and Asian crises—have played a central role in world affairs …
Persistent link: https://www.econbiz.de/10014488240