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Transition economy convergence in a two-country model: implications for monetary integration
Bruha, Jan; Podpiera, Jirí - 2007
In this paper we present a two-country dynamic general equilibrium model of ex ante unequally developed countries. The model explains a key feature recently observed in transition economies – the long-run trend real exchange rate appreciation – through investments into quality. Our...
Persistent link: https://www.econbiz.de/10011604786
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Fiscal and monetary policies and the cost of sudden stops
Hutchison, Michael M.; Noy, Ilan; Wang, Lidan - 2007
This article investigates the effects of macroeconomic policy (monetary and fiscal) on output growth during financial crises characterized by a sudden stopʺ in net capital inflows in developing and emerging market economies. We investigate 83 sudden stop crises in 77 countries over 1982-2003...
Persistent link: https://www.econbiz.de/10003855118
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Fiscal and monetary policies and the cost of sudden stops
Hutchison, Michael M.; Noy, Ilan; Wang, Lidan - 2007
This article investigates the effects of macroeconomic policy (monetary and fiscal) on output growth during financial crises characterized by a sudden stop" in net capital inflows in developing and emerging market economies. We investigate 83 sudden stop crises in 77 countries over 1982-2003...
Persistent link: https://www.econbiz.de/10010285311
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Impacts of US interest rates on growth, income distribution, and macroeconomic policy space in developing countries : a SFC supermultiplier model
Emboava Vaz, João - 2024
This paper presents a stock-flow-consistent model in which growth is led by exports and government expenditure. It considers domestic and external debt dynamics and gross capital flows. Countries may choose to not fully use their external space to accumulate international reserves. The model is...
Persistent link: https://www.econbiz.de/10014495213
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Migrants remittances influence on fiscal sustainability in dependent economies
Simionescu, Liliana; Dumitrescu, Dalina - In: Amfiteatru economic : an economic and business research … 19 (2017) 46, pp. 640-653
private consumption and their investments. This paper aims to analyse the impact of remittances on economic growth, private … consumption, private investments and the government tax revenue in low and upper middle-income countries. The paper highlights one … are positively related with economic growth and private consumption expenditure. Moreover, the results also indicate that …
Persistent link: https://www.econbiz.de/10011793525
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Capital inflows, sustained investment surges, and the role of external economies of scale in a developing economy
Razmi, Arslan - 2019
Standard open economy macro models with unemployment predict a contractionary short-run effect of international capital inflows. Empirical evidence, on the other hand, often associates such inflows with short-term booms, and developing country policy makers frequently go out of their way to...
Persistent link: https://www.econbiz.de/10012117674
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Capital Market Openness and Output Volatility
Hwang, Kwang‐Myoung; Park, Donghyun; Shin, Kwanho - 2015
At a conceptual level, opening of capital markets entails a number of benefits and costs. One major cost of financial openness is output volatility. In this paper, using data from 21 advanced and 81 developing countries during 1971-2010, we empirically examine the impact of capital market...
Persistent link: https://www.econbiz.de/10014137125
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Thirlwall's law, external debt sustainability, and the balance-of-payments-constrained level and growth rates of output
Bhering, Gustavo; Serrano, Franklin; Freitas, Fabio - In: Thirlwall's law at 40, (pp. 60-71). 2021
Persistent link: https://www.econbiz.de/10013369326
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Short - term capital flows and growth in developed and emerging markets
Petroulas, Pavlos - 2022
A lot of attention has been directed towards recent financial crises around the world and empirical studies have found that short-term flows increase financial fragility and also increase the probability of financial crises. This study takes a macro-oriented approach and shows that while large...
Persistent link: https://www.econbiz.de/10013404640
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Capital flows to low-income sub-Saharan Africa : an exploratory review
Braiton, Nombulelo; Odhiambo, Nicholas M. - In: International trade, politics and development 7 (2023) 1, pp. 36-53
Purpose The purpose of the paper is to examine macroeconomic and institutional factors that influence capital flows to low-income sub-Saharan African (SSAn) countries. It analyzes capital flows in a disaggregated manner: foreign divert investment, portfolio equity and portfolio debt. There is a...
Persistent link: https://www.econbiz.de/10014285490