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CEE Economies in the New Millennium: Their Strengths, Vulnerabilities and Forthcoming Challenges
Dabrowski, Marek - Institut za Razvoj i Međunarodne Odnose (IRMO)
Western and Northern Europe, and changes in global capital flows determined, in turn, by changes in monetary policies of major …
Persistent link: https://www.econbiz.de/10011274937
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Financing Development in the UNECE Emerging Markets
Shelburne, Robert - Economic Commission for Europe (UN-ECE), United Nations - 2008
This essay discusses the challenges in financing economic development in the eastern European and CIS economies. The advantages and pitfalls of extensively relying external capital are explored.
Persistent link: https://www.econbiz.de/10004980108
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Current Account Deficits in European Emerging Markets
Shelburne, Robert - Economic Commission for Europe (UN-ECE), United Nations - 2008
Many of the emerging market economies in Europe are presently running current account deficits which are quite high … Union (EU) members of the old Europe (Greece, Portugal, and Spain), many of the EU’s new member states (largely the former … transition economies which have joined since 2004), most of those non-EU members in south-east Europe, and a number of the CIS …
Persistent link: https://www.econbiz.de/10005585677
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IS THERE ANY CORRELATION BETWEEN THE CHRONIC BALANCE OF TRADE DEFICIT AND THE ROMANIA'S INCREASING EXTERNAL DEBT?
Adriana, Giurgiu - In: Annals of Faculty of Economics 1 (2011) 2, pp. 842-849
According to the data provided by the Romanian National Institute of Statistics and Eurostat, the balance-of-payments current account registered a permanent and increasing deficit since 1990, while the domestic production was accelerated decreasing and the FDI inflows were far from being enough...
Persistent link: https://www.econbiz.de/10009650858
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International Reserves and Swap Lines in Times of Financial Distress : Overview and Interpretations
Aizenman, Joshua - East Asian Bureau of Economic Research (EABER) - 2010
In this paper I review the use of precautionary measures aimed at mitigating emerging markets exposure to fragility associated with financial integration. The discussion draws possible lessons from the ongoing global liquidity crisis. The fear of losing international reserves (IR) constrained...
Persistent link: https://www.econbiz.de/10009363868
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Real Exchange Rate and International Reserves in the Era of Growing Financial and Trade Integration
Aizenman, Joshua; Riera-Crichton, Daniel - National Bureau of Economic Research (NBER) - 2006
This paper evaluates the impact of international reserves, terms of trade shocks and capital flows on the real exchange rate (REER). We observe that international reserves cushions the impact of TOT shocks on the REER, and that this effect is important for developing but not for industrial...
Persistent link: https://www.econbiz.de/10005830449
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Selective Swap Arrangements and the Global Financial Crisis: Analysis and Interpretation
Aizenman, Joshua; Pasricha, Gurnain Kaur - National Bureau of Economic Research (NBER) - 2009
The onset of the US credit crisis in 2008, and its rapid globalization induced the FED to extend unprecedented swap-lines of 30 billion dollars to four emerging markets, and the proliferation of other cross-countries selective swap arrangements. This paper explores the logic for these...
Persistent link: https://www.econbiz.de/10005774743
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International Reserves and Swap Lines in Times of Financial Distress: Overview and Interpretations
Aizenman, Joshua - Asian Development Bank Institute, Asian Development Bank - 2010
In this paper the author reviews the use of precautionary measures aimed at mitigating emerging markets' exposure to fragility associated with financial integration. The discussion draws possible lessons from the ongoing global liquidity crisis. The fear of losing international reserves (IR)...
Persistent link: https://www.econbiz.de/10008489517
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Seeking New Ways of Financing the EU Budget: on the Proposal of a European Tax on Foreign Exchange Transactions
Richter, Sandor - Wiener Institut für Internationale … - 2008
The periodically returning debates and the disappointing bargaining on the financial perspectives for 2007-2013 have led to the proposal of a comprehensive review of the EU budget in 2008/2009. This provides an opportunity for initiating fundamental reforms of the revenue side of the EU budget....
Persistent link: https://www.econbiz.de/10005129439
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Hoarding International Reserves Versus a Pigovian Tax-Cum-Subsidy Scheme: Reflections on the Deleveraging Crisis of 2008-9, and a Cost Benefit Analysis
Aizenman, Joshua - National Bureau of Economic Research (NBER) - 2009
We outline the case for supporting self-insurance by imposing a tax on external borrowing in a model of an emerging market. Entrepreneurs finance tangible investments via bank intermediation of foreign borrowing, exposing the economy to negative fire-sale externalities at times of deleveraging;...
Persistent link: https://www.econbiz.de/10008580442