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The decline in world trade volume in 2009 was the worst since the Great Depression. The United States (US) spread the global recession as a major source of external demand. US import and export data are examined to understand the repercussions, particularly for developing economies divided into...
Persistent link: https://www.econbiz.de/10013124553
It is well known fact that all good things, as also bad things, come to an end and business cycles pass through good and bad economic times. Economically 2010 was a year of transition from economic recession to recovery. Economies were improving in some countries and industries were showing...
Persistent link: https://www.econbiz.de/10013110884
The recent European economic crisis has dramatically exposed the failures of the various institutional mechanisms in place to maintain economic stability in Europe, and has unveiled the difficulty in achieving international coordination on fiscal and financial stability policies. Drawing on the...
Persistent link: https://www.econbiz.de/10013085690
We examine in this paper the differential response of establishments to the global financial crisis, with particular emphasis on the role of foreign direct investment (FDI) in determining micro economic performance. Using a new worldwide dataset that reports the activities of more than 12...
Persistent link: https://www.econbiz.de/10013142300
The global financial crises have had severe impact on various financial markets and the world economies at large. At various points in time during economic recessions, the confidence of the global investors is always sapped while most investors panic for safety. The past ten years especially...
Persistent link: https://www.econbiz.de/10012909952
This paper explores the impact of financial constraints on the internationalization strategies of firms. It contributes to the literature by focusing on three aspects: First, the paper studies the impact of financial constraints on exporting relative to FDI. Consistent with theory, the empirical...
Persistent link: https://www.econbiz.de/10010333826
Our friend and colleague Rüdiger Dornbusch passed away before he was able tocomplete his book based on the Munich Lectures in Economics that he gave inNovember 17, 1998, at the Center for Economic Studies of Ludwig-Maximilians-Universität.The lectures contain a fascinating overview of the...
Persistent link: https://www.econbiz.de/10011507825
Restrictions on international capital transactions and other payments are usually designed to limit volatile short … capital flows and other payments controls on the likelihood of currency crises. We employ a comprehensive sample of 90 … international capital flows, current accounts, and international payments are associated with a higher probability of the onset of a …
Persistent link: https://www.econbiz.de/10011536657
Goal of the text is show that although non-standard monetary policy conducted by major central banks is quite efficient in stabilizing post-crisis economy, there are few important side effects of such policy. One of the most important side effect of superexpansionary monetary policy is creating...
Persistent link: https://www.econbiz.de/10010426614
A growing share of emerging markets (EMs) uses hybrid versions of inflation targeting that differ from the IT regimes of the OECD countries. Real exchange rate and international reserve changes affect the policy interest rates in commodity countries, aiming to stabilize their real exchange rate...
Persistent link: https://www.econbiz.de/10012219537