Showing 1 - 10 of 3,174
Persistent link: https://www.econbiz.de/10011695810
capita output growth, the credit cycle, the stock of inward foreign direct investment (FDI) and the current account balance … economies), higher stocks of FDI (for relatively more open economies), higher current account deficits, and a more volatile …
Persistent link: https://www.econbiz.de/10011604975
the study is to examine the causality between exchange rate, trade, inflation, FDI and GDP through a series of models. On … rate and inflation, but there exists long-run equilibrium relationship between exchange rate and trade. There is also long …-run equilibrium relationship between exchange rate and FDI and causality runs in both directions, i.e. exchange rate to FDI and FDI to …
Persistent link: https://www.econbiz.de/10011938301
This paper reviews three different concepts of equilibrium exchange rates that are widely used in policy analysis and constitute the backbone of the IMF CGER assessment: the Macroeconomic Balance, the External Sustainability and the reduced form approaches. We raise a number of econometric...
Persistent link: https://www.econbiz.de/10011605197
An integral part of global current account imbalances is the large and persistent current account surplus developing Asia has run since the 1997–1998 Asian crisis. A country's current account surplus is, by definition, equal to its net saving. The central objective of this paper is to...
Persistent link: https://www.econbiz.de/10010507271
This paper examines two competing approaches for calculating current account benchmarks, i.e. the external sustainability approach á la Lane and Milesi-Ferretti (LM) versus the structural current accounts literature (SCA) based on panel econometric techniques. The aim is to gauge the medium...
Persistent link: https://www.econbiz.de/10011605041
Alarmed by the persistent and large US trade deficit vis-à-vis China and the rapidly swelling Chinese foreign exchange …. Thus, a moderate appreciation of the RMB would not equilibrate the bilateral trade flows or remedy current account …
Persistent link: https://www.econbiz.de/10011790336
lower end of most estimates used in other studies. Given that the trade elasticity is a key variable in macro-balance models …
Persistent link: https://www.econbiz.de/10012115679
predictable effect on the trade surpluses of creditor economies. …
Persistent link: https://www.econbiz.de/10010297543
The paper investigates the impact of exchange rates on US foreign direct investment (FDI) flows to a sample of 16 …: the value of the local currency (a cheaper currency attracts FDI); expected changes in the exchange rate (expected … devaluation implies FDI is postponed); and exchange rate volatility (discourages FDI). The results reveal a negative relationship …
Persistent link: https://www.econbiz.de/10010273986