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Persistent link: https://www.econbiz.de/10014226496
Following the 1997-1998 Asian financial crisis, financial authorities in ASEAN+3 embarked on several new initiatives for East Asia's financial cooperation, including: (i) regional economic surveillance led by the Economic Review and Policy Dialogue (ERPD); (ii) a regional liquidity support...
Persistent link: https://www.econbiz.de/10010526534
The paper reviews the case for a strong multilateral response to the global crisis in emerging markets (EMs). It discusses modalities and feasibility of intervention and its associated risks, depending on country circumstances of fiscal space and liquidity needs. The specific role of...
Persistent link: https://www.econbiz.de/10003849361
major world stock markets, and the renewed instability in exchange rates are, I think, warnings of trouble in a world in … which capital is free to flow as never before around the world in amounts and at a speed without precedent. In calling … developing world. Yet, we would be naively optimistic to think that all is serene that the recent disturbances are simply a …
Persistent link: https://www.econbiz.de/10012925223
This paper investigates the U.S. dollar's role as the international currency of choice as a key contributing factor in critical global developments that led to the crisis of 2007–09, and considers the future role of the dollar as the global economy emerges from that crisis. It is argued that...
Persistent link: https://www.econbiz.de/10013095114
This paper examines the impact of foreign currency hedging demand on the foreign exchange market. First, the paper documents deviations from covered interest parity (CIP) for Mexico after the global financial crisis (GFC), and then it evaluates the effect of two variables in a regression-based...
Persistent link: https://www.econbiz.de/10012166177
This paper seeks to fill a gap in the literature on frontier market economies (FMEs) with the following two research questions: (i) Which are the drivers of FMEs' integration into financial globalisation? (ii) What explains the greater vulnerability of FMEs compared to emerging market economies...
Persistent link: https://www.econbiz.de/10014433727
. After the global crisis of 2008-2009, the world economy entered the era of restructuring. This article focuses on the … risks that a new leader will face in the process of shaping the world economy. The methods employed in the research include … combination of world financial system crises and general civilization problems. These new systemic risks for the world economy …
Persistent link: https://www.econbiz.de/10012168948
Despite a vast empirical literature that assesses the impact of financial integration on the economy, evidence of substantial welfare gains from consumption risk sharing remains elusive. While maintaining the usual cross-country perspective of the literature, this paper explicitly accounts for...
Persistent link: https://www.econbiz.de/10010472540
Persistent link: https://www.econbiz.de/10000335449