Showing 101 - 110 of 48,395
This paper evaluates Chile's stabilization policies since the early 1970s. Four episodes are examined: (a) the high inflation at the beginning of the military regime when inflation was close to 1000 percent per year; (b) the orthodox stabilization program of 1975; (c) the exchange rate-based...
Persistent link: https://www.econbiz.de/10004989910
The authors study the apparent contradiction between two strands of the literature on the effects of financial intermediation on economic activity. On the one hand, the empirical growth literature finds a positive effect of financial depth as measured by, for instance, private domestic credit...
Persistent link: https://www.econbiz.de/10004989959
The Russian economy continues to grow strongly, buoyed by rising terms of trade, which, in turn, are supporting a boom in domestic consumption. This paper addresses the challenge that the adjustment to sustained high oil prices poses for macroeconomic management. It first examines the impact of...
Persistent link: https://www.econbiz.de/10005045780
In the 1980s, the focus in economic management in Africa shifted towards macroeconomic stabilization policies. This led to the neglect ofsectoral policies and microeconomic reforms, which are critical for industrialization and diversification. In line with this, the African economies continue to...
Persistent link: https://www.econbiz.de/10005011973
The salient characteristics of emerging market economies coupled with the increasing adoption of inflation targeting in these countries has stimulated much debate about the role of the exchange rate in inflation targeting regimes. The authors aim at shedding more light on this issue by...
Persistent link: https://www.econbiz.de/10005106883
This paper works at the interface of the literature exploring the raison d'etre of the informal labor market and that explaining the real exchange rate appreciations occurring in many Latin American countries during periods of reform. The authors first build a small country-Australian style...
Persistent link: https://www.econbiz.de/10005106909
The management of fiscal deficits and their financing in Colombia has been generally sound. This paper shows how episodes of loose fiscal policy have been minor compared to other Latin American countries. The near-crisis of the early 1980s was addressed in a timely way through a sharp fiscal...
Persistent link: https://www.econbiz.de/10005106927
The authors investigate the links between banking crises, and exchange rate regimes, using a comprehensive data set that includes developed, and developing countries over the last two decades. In particular, they examine whether the choice of exchange rate regime affects the likelihood, cost,...
Persistent link: https://www.econbiz.de/10005079469
The 1994 World Bank study,"Adjustment in Africa: reforms, results, and the road ahead,"assessed the extent of, and economic payoffs from, policy reform in 29 countries in sub-Saharan Africa in the mid-1980s and 1990s. Here, the authors update the results of that report with 1992 macroeconomic...
Persistent link: https://www.econbiz.de/10005079498
The author provides theoretical and empirical evidence of a negative association between income inequality and real exchange rates. First, he builds a theoretical model showing the transmission mechanism from inequality to real exchange rates. Second, using cross-country data, he demonstrates...
Persistent link: https://www.econbiz.de/10005079501