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After the 1980s, capital flows have accelerated in the less developed countries and since Salter's seminal paper in 1959, it has been widely accepted that the real exchange rate respond to capital flows. Based on a simple model derived by Sjaastad and Manzur (1996) along the lines of Salter...
Persistent link: https://www.econbiz.de/10013135346
This paper explores the effect of U.S. unconventional monetary policy (QE2) on a group of frontier developing economies (FDEs) in Asia. This paper finds that spillovers emanating from the U.S. on FDEs in Asia have been small. The relative insulation of emerging Asia from the global financial...
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, the external terms of trade, and productivity in the manufacturing sector. A once-and-for-all unit increase in the ratio …
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Real exchange rate fluctuations impact domestic economic activity throughout the trade and financial channels. Using granular data from the Brazilian manufacturing sector, we decompose the manufacturing sector into different sub-sectors according to their net exposures to international trade and...
Persistent link: https://www.econbiz.de/10013244638
We develop a general equilibrium model of an emerging market economy where productivity growth differentials between …
Persistent link: https://www.econbiz.de/10014214936
This article provides the first examination of the relationship between public expenditures and labor productivity that … which there were both high levels of public infrastructure spending and rapid growth of productivity. We use a simple Cobb …-Douglas production function to model labor productivity in the manufacturing sector, letting total factor productivity depend on …
Persistent link: https://www.econbiz.de/10013099262