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levels. This paper analyzes the business cycle movements of the EU, ASEAN+3, NAFTA, MERCOSUR and SAARC regions to investigate …
Persistent link: https://www.econbiz.de/10008533255
Firms in emerging markets are exposed to severe financial frictions and credit constraints, that are exacerbated by the sudden stop of capital inflows. Can monetary policy offset this external credit squeeze? We show that although this may be the case during moderate contractions (or in partial...
Persistent link: https://www.econbiz.de/10014071372
Connection between interest rate and foreign exchange is important because of the economic volatility of the two … aims to establish a series of characteristics regarding the impact of interest rate in exchange rate volatility. This kind …
Persistent link: https://www.econbiz.de/10008833281
This paper tests for long-run output convergence between a sample of eight Latin American countries and over the study period 1900-2003. The key contribution of this paper is in terms of the econometric methodology where non-stationarity of log real per capita income differentials is tested...
Persistent link: https://www.econbiz.de/10003746777
Between 1989 and 2003, low-income countries received $100 billion in debt relief. The stated objectives for much of this debt relief have been to reduce debt overhang and to free up recipient government resources for development spending that would otherwise have been used for debt service. In...
Persistent link: https://www.econbiz.de/10014062040
We propose a new methodology to evaluate the gains from global risksharing that is closely connected to the empirical growth literature. We obtain estimates of residual risk (growth uncertainty) at various horizons from regressions of country-specific deviations from world growth on a wide set...
Persistent link: https://www.econbiz.de/10014074007
Persistent link: https://www.econbiz.de/10014415930
This paper analyzes the relation between exchange rate volatility and several macroeconomic variables, namely real per … find that lower exchange rate volatility is associated with higher growth (for relatively less financially developed …
Persistent link: https://www.econbiz.de/10003789431
This paper analyzes the relation between exchange rate volatility and several macroeconomic variables, namely real per … find that lower exchange rate volatility is associated with higher growth (for relatively less financially developed …
Persistent link: https://www.econbiz.de/10012770727
The high volatility of economic growth and financial markets in emerging market economies following large swings in … volatility. We find that FDI and foreign bank loans are positively associated with unexpected GDP growth on a contemporaneous … basis, while increases in foreign bond and equity investment induce lower GDP growth than expected in the following year.Volatility …
Persistent link: https://www.econbiz.de/10013018654