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Despite the measures that have already been put in place to strengthen the international financial architecture in the …' views, in general, and East Asian views, in particular, on reforming the international financial architecture from the G7 …, the present discussions on reforming the international financial architecture that take place mainly within G7 and G7-led …
Persistent link: https://www.econbiz.de/10011437511
The Bretton Woods international financial system, which was in place from roughly 1949 to 1973, is the most significant … modern policy experiment to attempt to simultaneously manage international payments, international capital flows, and … international currency values. This paper uses an international macroeconomic accounting methodology to study the Bretton Woods …
Persistent link: https://www.econbiz.de/10012138670
globalization, this paper sets out to investigate the opportunity costs of self-insurance through precautionary reserve holdings. We … developing countries are explored, designed to limit both the risks of financial globalization and the costs of insurance … expertise incorporated in foreign direct investment as part of a country's development strategy. -- International monetary order …
Persistent link: https://www.econbiz.de/10003807715
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Abstract In this paper we ask whether countries can influence their exposure to changes in global financial conditions. Specifically, we show that even though we can model cross-country capital flows via a global factor that closely tracks changes in global financial conditions, there is a large...
Persistent link: https://www.econbiz.de/10012518283
We study the role and the interaction of the quality of institutions and of counter-cyclical policies in leaning against the Global Financial Cycle (GFC) in Emerging Economies (EMEs). We show that heteroegeneity in institutional strength is a key determinant of the different effects of the GFC...
Persistent link: https://www.econbiz.de/10013488632
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We assess the empirical validity of the trilemma (or impossible trinity) in the 2000s for a large sample of advanced and emerging economies. To do so, we estimate Taylor-rule type monetary policy reaction functions, relating the local policy rate to real-time forecasts of domestic fundamentals,...
Persistent link: https://www.econbiz.de/10011997477