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Currency Crises and Financial Vulnerability in Dollarized Economies.

Kamil, Herman - 2011

The dissertation consists of three distinct chapters that contribute to important, yet unresolved topics in Macroeconomics and International Economics.Macroeconomists have been keenly interested in understanding how financial crisis turn into real recessions in emerging markets. By using a...

Persistent link: https://www.econbiz.de/10009476665

Cross-Border Trading as a Mechanism for Capital Flight: ADRs and the Argentine Crisis

Auguste, Sebastian; Dominguez, Kathryn M. E.; Kamil, Herman - 2002

This paper examines the surprising performance of the Argentine stock market in the midst of the country’s most recent financial crisis and the role played by ADRs in Argentine capital flight. Although Argentine investors were subject to capital controls, they were able to purchase stocks with...

Persistent link: https://www.econbiz.de/10009477174

The compatability of capital controls and financial development: a selective survey and empirical evidence

Chinn, Menzie D - 2002

This paper examines the relationship between capital controls and financial development, with an emphasis on the empirical aspects of the linkage. Financial development is interpreted broadly as increasing the efficiency of allocating financial resources and monitoring capital projects. In...

Persistent link: https://www.econbiz.de/10009451526

Job Growth in Early Transition: Comparing Two Paths

Jurajda, Stepan; Terrell, Katherine - 2002

planning and ask about differences in job creation across two different transition economies: Estonia, which experienced rapid …

Persistent link: https://www.econbiz.de/10009476680

Choice of Ownership Structure and Firm Performance: Evidence from Estonia

Jones, Derek C.; Kalmi, Panu; Mygind, Niels - 2003

the view that efficiency considerations drive ownership changes (while earlier analysis for Estonia and for many other …

Persistent link: https://www.econbiz.de/10009477234

Labour Market Flexibility in Estonia: What More Can Be Done?

Brixiova, Zuzana - 2009

, ethnic groups, and workers with different skill levels. As Estonia entered recession in 2008, the unemployment rate almost … will be a key adjustment mechanism during the recession as well as in the medium term if Estonia is to become a knowledge …

Persistent link: https://www.econbiz.de/10009477390

Capital Inflows, Household Debt and the Boom Bust Cycle in Estonia

Brixiova, Zuzana; Vartia, Laura; Woergoetter, Andreas - 2009

From 2000 to 2007, Estonia was one of the fastest growing emerging market economies. A housing boom, fuelled by capital … board limited the Bank of Estonia’s ability to curb credit growth, while the fiscal policy framework amplified the cycle … tightened lending standards and capital outflows. Estonia is now in a severe recession. To restore high and sustainable growth …

Persistent link: https://www.econbiz.de/10009477392

Can the Policy Trilemma Be Exposited in the Mundell-Fleming Framework?

Boyer, Russell S. - 2006

There is a general recognition that there are deficiencies in the Mundell-Fleming model. Nonetheless, Rose [2000] has stated that Mundell was the first to exposit the Policy Trilemma, which identifies an intrinsic incompatibility among: high capital mobility, fixed exchange rates, and monetary...

Persistent link: https://www.econbiz.de/10009440668