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beginning with 1990. It will be employed a descriptive analysis of their trade and growth dynamics. Emphasis will be placed on … the determinants of economic growth of this group of countries in general and foreign trade in particular. The results …. In what concerns Romania, it appears to have been driven by a weaker engine of economic growth in the last two centuries. …
Persistent link: https://www.econbiz.de/10011268736
A high share of foreign currency denomination of domestic public debt in rules out any recourse to inflation tax as an effective adjustment device. Anti- inflation policies based upon hard peg regimes may remove the exchange rate risk in the short run but - as pointed out by Argentina’s...
Persistent link: https://www.econbiz.de/10005087106
According to theory, financial openness (FO) increases growth. The literature often conditions the growth effect of FO … on favorable collateral environment. However, this can conceal the actual growth benefits of FO. This paper contributes … to the literature by investigating the unconditional growth effect of FO, measured as de facto international financial …
Persistent link: https://www.econbiz.de/10014307771
then engages in a numerical, somewhat speculative, exercise to assess the long-run growth potential ofthe transition …
Persistent link: https://www.econbiz.de/10008636450
This paper analyzes the growth and stabilization experience in 26 transition economies in eastern Europe, the former … an inflation stabilization program. Growth resumes after stabilization occurs, typically with a lag of about two years …. Reducing inflation thus appears to be a precondition for growth. An econometric analysis of the short-run determinants of …
Persistent link: https://www.econbiz.de/10008636474
This paper constructs a two-country stochastic growth model in which neutral and investment-specific technology shocks …
Persistent link: https://www.econbiz.de/10008489390
This work presents a two-country two-stage growth model capturing the special relationship that has emerged in recent … growth and absorb the large amount of rural workers into the industrial sector. Thus, China runs current account surpluses … undertaken in phase 1 as a fundamental source of demand for tradables and as an engine of growth. Scenario B emphasizes the risks …
Persistent link: https://www.econbiz.de/10008474115
Published as an article in: European Economic Review, 2008, vol. 52, issue 1, pages 1-27.
Persistent link: https://www.econbiz.de/10004972677
This paper discusses some puzzles in the contemporary macroeconomic scene in India, from the perspective of public finance and economic development. These include a fiscal deficit higher than it was during the 1991 crisis, but without a large current account deficit or rise in inflation or...
Persistent link: https://www.econbiz.de/10005125512
-neutral in the long-run. In this setting we argue that a monetary policy that induces growth must seek to minimize the volatility … of changes in the monetary policy rules and on the degree of openness in capital account over dynamic trajectories of … growth rate of GDP, nominal interest rate, nominal and real exchanges rates and the rate of inflation. The computational …
Persistent link: https://www.econbiz.de/10005526979