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Flexibility of adjustment to shocks : economic growth and volatility of middle-income countries before and after the Global Financial Crisis of 2008
Aizenman, Joshua; Jinjarak, Yothin; Estrada, Gemma; … - 2017
the associations of growth level, growth volatility, shocks, institutions, and macroeconomic fundamentals have changed in … important ways after the crisis. Gross domestic product growth across countries has become more dependent on external factors …, including global growth, global oil prices, and global financial volatility. After accounting for the effects global shocks, we …
Persistent link: https://www.econbiz.de/10011754881
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Preemptive Policies and Risk-Off Shocks in Emerging Markets
Das, Mitali; Gopinath, Gita; Kalemli-Ozcan, Sebnem - 2022
We show that “preemptive” capital flow management measures (CFM) can reduce emerging markets and developing countries’ (EMDE) external finance premia during risk-off shocks, especially for vulnerable countries. Using a panel dataset of 56 EMDEs during 1996–2020 at monthly frequency, we...
Persistent link: https://www.econbiz.de/10013295150
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International Prices, Monetary and Income Shocks : A SVAR Model of the External Trade Channel in African Economies
Assoumou-Ella, Giscard - 2017
sustain economic growth (i. e. increase public expenditure in general and investment in human and physical capital in …
Persistent link: https://www.econbiz.de/10012963199
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Domestic Amplifiers of External Shocks : Growth Accelerations and Reversals in Emerging Market and Developing Economies
Gruss, Bertrand - 2019
episodes of growth accelerations and reversals. In this paper we study the role of domestic policies and other structural … attributes in amplifying or mitigating the effect that shifts in external conditions have on growth patterns in emerging market … and developing economies over the past five decades. We find that these economies can enhance the growth impulse from …
Persistent link: https://www.econbiz.de/10012866906
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Estimating the Impact of External Shocks on the ECCU : Application to the COVID Shock
Parlak, Vivian; Salinas, Gonzalo; Vargas, Jose - 2022
We measure the impact of frequent exogeneous shocks on small ECCU economies, including changes to global economic activity, tourism flows, oil prices, passport sales, FDI, and natural disasters. Using Canonical-Correlation Analysis (CCA) and dynamic panel regression analysis we find significant...
Persistent link: https://www.econbiz.de/10013306756
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The effects of external shocks to business cycles in emerging Asia : a Bayesian VAR approach
Utlaut, Johannes; Roye, Björn van - 2010
that almost half of the forecast error variance of Emerging Asia's real GDP growth can be explained by external factors. We … the traditional BVAR. Finally, we simulate a double dip scenario for the world economy and a muted growth path of the … Chinese economy using conditional forecasts and show that the economic outlook in Emerging Asia highly depends on the growth …
Persistent link: https://www.econbiz.de/10008779982
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Growth Dynamics : The Myth of Economic Recovery
Cerra, Valerie - 2006
divergence and lower long-run growth, whereas we find absolute convergence in expansions. The output costs of political and … financial crises are permanent on average and long-term growth is negatively linked to volatility. These results also imply that … panel data studies can help identify the sources of growth and that economic models should be capable of explaining growth …
Persistent link: https://www.econbiz.de/10012780769
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Risk Sharing in a World Economy with Uncertainty Shocks
Kollmann, Robert - 2017
the high empirical volatility of the real exchange rate and the disconnect between relative consumption growth and the …
Persistent link: https://www.econbiz.de/10012970180
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Risk Sharing in a World Economy with Uncertainty Shocks
Kollmann, Robert - 2015
the high empirical volatility of the real exchange rate and the disconnect between relative consumption growth and the …
Persistent link: https://www.econbiz.de/10013011666
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Flexibility of Adjustment to Shocks : Economic Growth and Volatility of Middle-Income Countries Before and after the Global Financial Crisis of 2008
Aizenman, Joshua - 2018
the associations of growth level, growth volatility, shocks, institutions, and macroeconomic fundamentals have changed in … important ways after the crisis. Gross domestic product growth across countries has become more dependent on external factors …, including global growth, global oil prices, and global financial volatility. After accounting for the effects global shocks, we …
Persistent link: https://www.econbiz.de/10012917821