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This paper provides an explanation of the simultaneous occurrence in developing countries of a large accumulation of external debt, private capital outflows and relatively low domestic capital formation. We consider a general equilibrium model in which two types of government with conflicting...
Persistent link: https://www.econbiz.de/10005281409
Persistent link: https://www.econbiz.de/10005037308
This paper discusses possible strategies for developing countries in negotiations on trade in services in the ongoing WTO Doha Development Round (DR). The liberalization of service imports (including through direct investment) will generate benefits through higher quality, lower prices, and...
Persistent link: https://www.econbiz.de/10005755176
Hans-Werner Sinn plädiert für eine Begrenzung der Notfallkredite, die die EZB Griechenland gewährt, und für die Einführung eine Kapitalverkehrskontrolle durch die griechische Regierung.
Persistent link: https://www.econbiz.de/10011194522
Die Europäische Währungsunion steckt in einer tiefen Zahlungsbilanzkrise. Privates Kapital fließt imgroßen Stil von den Peripherieländern in die Kernländer. Um den Fortbestand des Euro zugewährleisten treten öffentliche, intergouvernementale Kredite und Target-Kredite der...
Persistent link: https://www.econbiz.de/10010877587
The European Monetary Union is experiencing a serious balance-of-payments crisis. Private capital is flowing from the periphery countries into the core countries on a large scale. Public, inter-government credit and Target credit granted by national central banks is replacing private capital to...
Persistent link: https://www.econbiz.de/10010883553
Zinsabschlags verdeutlicht. Einer breitangelegten Kapitalflucht entgegenzuwirken, kann nur durch EU-weite Regelungen der …
Persistent link: https://www.econbiz.de/10005013738
This paper shows how in theory, if the contingencies in response to which it is imposed are fully anticipated, independently verifiable and not under government control, then saving and investment should not fall following the imposition of a capital levy. Nor should the government find it more...
Persistent link: https://www.econbiz.de/10005504369
In the classic analysis of smuggling, importers choose the optimal mix of legal and illegal trade, given trade taxes and the technology of detection. This paper introduces an inconvertible currency into the framework, so that illegal trade is valued at a rate higher than the (fixed) official...
Persistent link: https://www.econbiz.de/10005504625
This paper utilizes a very simple model to study the timing and determinants of speculation against a fixed exchange rate regime when investors are heterogeneous because of locational differences. Location matters because resident players may incur smaller costs when taking a short-position, are...
Persistent link: https://www.econbiz.de/10005504970