This study addresses the potential trade-off between inflation and exchange rate targeting in former transition countries, which now may be labeled emerging market economies and which prepare for entry into the Economic and Monetary Union (EMU). Among this group of countries, some implemented...

Advocates of financial regulation, Arestis and Demetriades, argue that financial liberalisation does not impact on financial market efficiency and the allocation of investment. Results in this study find that Czech, Hungarian and Polish firms are subject to scrutiny when applying for credit. The...

The Czech Republic, Hungary and Poland all experienced an initial reduction in the number of industries and an increase in unemployment, once they moved to a market driven economy. Over time the unemployment problem reduced in significance though Poland still experiences high levels to date....

Results support Arestis’s theory, that low real interest rates do not prevent economic growth (though he related it to the regulation debate). Here in the deregulation environment, it also stands. Results also support Shaw’s assertion that financial liberalisation increases the monetary...

This article considers a transition toward European monetary union that combines increased substitution of currencies and greater monetary, financial, and fiscal policy coordination. It explores how such a transition would affect national inflation and interest rates and required reserve ratios...

Many developing countries have adopted investor-friendly policies in recent years in order to attract export-oriented foreign direct investment (FDI). The effects of these policies on the external accounts have been largely ignored. This paper endogenizes FDI inflows in a structuralist general...

En esta nota estadística se presenta la metodología aplicada en la compilación de las estadísticas complementarias de inversión exterior directa (IED) en España por última economía inversora, según el principio direccional y con datos coherentes con la balanza de pagos/posición de...

This report starts where the previous quarterly publication ended. This first publication of a new annual series contains most of the same data as the quarterly report, plus some new material, through 1991. It also presents historical data covering a longer period of time than the previous...

This report reviews recent global efforts to privatize energy resources and outlines the opportunities and challenges privatization has presented to U.S. and foreign multinational energy companies. The group of energy companies studied in this report includes the major U.S. petroleum companies...