We examine the role of cross-border input linkages in governing how international relative price changes influence demand for domestic value added. We define a novel value-added real effective exchange rate (REER), which aggregates bilateral value-added price changes, and link this REER to...

The literature that study the positive relation between openness and growth is extensive, but the discussion about it isn´t close. That’s why, it deserves a deeper analysis that takes into account the level of development of the countries and the influence of the openness´ channels. The...

This article analyzes the participation of companies in the South-South Cooperation (SSC) of Brazil and Chile during the last decade. It proposes that economic interests attract the private sector into SSC -no exclusion being made of solidarity reasons- and that such interests are in line with...

As the year 2012 unfolds, its main legacy will be its game changing impact on global financial markets. Waning global growth along with central banksÕ bold monetary easing policies in advanced economies (AEs) to try to reverse it are changing market dynamics in unexpected ways, across both AEs...

Mongolia’s mineral-rich economy was hit extremely hard by the global downturn during 2008–9, when copper prices plunged, external demand fell, and growth collapsed. The shock exposed serious underlying weaknesses in the management of the country’s natural resource wealth,...

Does trade within a country affect welfare and productivity? What are the magnitude and consequences of costs to such trade? To answer these questions, we exploit unique Canadian data to measure internal trade costs in a variety of ways – they are large, and vary across sectors and...

We propose a pairwise procedure to test the Feldstein-Horioka condition of capital mobility. In contrast to the existing approach, we explicitly examine the relationship between domestic investment and foreign savings rather than domestic savings. In terms of addressing the Feldstein-Horioka...

This article is an extension of former empirical studies on fiscal policy and economic stabilization in the UEMOA area (DIOP M. and DIAW A., 2014). It presents the results of the first decade of macroeconomic policies following the devaluation of the CFA franc in 1994 and the adoption of the...

The Global Financial Crisis of 2008 and the heightened macroeconomic and financial volatility that followed the crisis raised important questions about the current international financial architecture as well as about individual countries’ external macroeconomic policies. Policy- makers...

This paper studies the dynamics of the Taka-U.S.Dollar exchange rate for Bangladesh by augmenting the Quantity Theory of Money. The standard cointegration methodology (Engle and Granger, 1987) is employed in addition to the ARDL (Autoregressive Distributed Lag) procedure. The ADF and KPSS tests...