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The global financial crisis and its impact on emerging market economies in Europe and the CIS: Evidence from mid-2010
Dabrowski, Marek - 2010
Emerging market economies were major beneficiaries of the economic boom before 2007. More recently, they have become victims of the global financial crisis. Their future development depends, to a large extent, on global economic prospects. Today the global economy and the European economy are...
Persistent link: https://www.econbiz.de/10011430853
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Imbalances? What imbalances? A dissenting view
Wray, L. Randall - 2012
It is commonplace to link neoclassical economics to 18th- or 19th-century physics and its notion of equilibrium, of a pendulum once disturbed eventually coming to rest. Likewise, an economy subjected to an exogenous shock seeks equilibrium through the stabilizing market forces unleashed by the...
Persistent link: https://www.econbiz.de/10010286507
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Global imbalances, the US dollar, and how the crisis at the core of global finance spread to "self-insuring" emerging market economies
Bibow, Jörg - In: Intervention. European Journal of Economics and … 07 (2010) 2, pp. 325-359
This paper investigates the spread of what started as a crisis at the core of the global financial system to emerging economies. While emerging economies had exhibited some resilience through the early stages of the financial turmoil that began in the summer of 2007, they have been hit hard...
Persistent link: https://www.econbiz.de/10014363101
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Global imbalances, the US dollar, and how the crisis at the core of global finance spread to "self-insuring" emerging market economies
Bibow, Jörg - 2010
This paper investigates the spread of what started as a crisis at the core of the global financial system to emerging economies. While emerging economies had exhibited some resilience through the early stages of the financial turmoil that began in the summer of 2007, they have been hit hard...
Persistent link: https://www.econbiz.de/10010281707
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Financial flows and international imbalances: The role of catching up by late-industrializing developing countries
Kregel, Jan - 2008
While the traditional approach to the adjustment of international imbalances assumes industrialized countries at a similar level of development and with similar production structures, such imbalances have historically been the result of a process of catching up by late-industrializing developing...
Persistent link: https://www.econbiz.de/10010266490
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Global liquidity, world savings glut and global policy coordination
Belke, Ansgar; Gros, Daniel - 2010
the combination of economic policies adopted by the two key economies, the US and China. Global financial markets served … economic policies followed by emerging markets such as China and the oil-exporting countries contributed to the US ability to …
Persistent link: https://www.econbiz.de/10010271353
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Is the Renminbi undervalued? The myths of China's trade surplus and global imbalances
Plasschaert, Sylvain - 2011
Alarmed by the persistent and large US trade deficit vis-à-vis China and the rapidly swelling Chinese foreign exchange … of the present international economy and of China's financial system. Indeed, the record growth of China's exports to the … US stems largely from joint ventures and affiliates of multinational enterprises; exports attributed to China usually …
Persistent link: https://www.econbiz.de/10011790336
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Large hoarding of international reserves and the emerging global economic architecture
Aizenman, Joshua - 2007
competitive devaluations. The sheer size of China, and its lower sterilization costs suggests that China may be the winner of a … external instability, which is magnified by exposure of the banking system to non performing loans. Testing the self insurance … and precautionary motives in the context of China may be challenged by a version of the peso problem; Hoarding …
Persistent link: https://www.econbiz.de/10010285334
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Pegs, Baskets, and the Importance of Policy Credibility: Lessons of the 1992-93 ERM Crisis
Volz, Ulrich - 2005
This paper argues that, in contrast to the popular bipolar view on exchange rate choices, intermediate regimes in general and regional exchange rate systems such as the European Monetary System (EMS) in particular should not be ruled out per se even in today's world of highly mobile capital. The...
Persistent link: https://www.econbiz.de/10010295469
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How synchronized are central and east European economies with the euro area? Evidence from a structural factor model
Eickmeier, Sandra; Breitung, Jörg - 2005
A high degree of cyclical synchronization between central and east European countries (CEECs) and the euro area is generally seen as a prerequisite for successful EMU enlargement. This paper investigates comovements between CEECs and the euro area. We first establish stylized facts on economic...
Persistent link: https://www.econbiz.de/10010295688