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Capital Market Integration and Wages
Chari, Anusha - 2012
For three years after the typical emerging economy opens its stock market to inflows of foreign capital, the average annual growth rate of the real wage in the manufacturing sector increases by a factor of three. No such increase occurs in a control group of countries that do not liberalize. The...
Persistent link: https://www.econbiz.de/10013106167
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Fine-Tuning an Open Capital Account in a Developing Country : The Indonesian Experience
Jayasuriya, Sisira - 2013
Indonesia has operated a liberal capital account permitting relatively free flow of international non-FDI flows since the early 1970s. In this paper, we review the Indonesian experience and the effectiveness of capital restrictions during 1990–2010 using a SVAR model of the Indonesian economy....
Persistent link: https://www.econbiz.de/10013088267
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When Don’t Developing Countries Benefit from Capital Account Liberalization? The Role of Labor Market Institutions
Du, Qingyuang - 2019
Many developing countries do not seem to benefit from capital account liberalizations. We find that labor market frictions can be an important reason for this and develop a model to explain the relationship between unemployment and capital account openness. In our model, a developing country...
Persistent link: https://www.econbiz.de/10012858622
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Capital Market Openness and Output Volatility
Hwang, Kwang‐Myoung; Park, Donghyun; Shin, Kwanho - 2015
At a conceptual level, opening of capital markets entails a number of benefits and costs. One major cost of financial openness is output volatility. In this paper, using data from 21 advanced and 81 developing countries during 1971-2010, we empirically examine the impact of capital market...
Persistent link: https://www.econbiz.de/10014137125
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Monetary and exchange rate policy under remittance fluctuations
Mandelman, Federico S. - 2011
to financial markets and test whether remittances are countercyclical and serve as an insurance mechanism against … secular increase in the trend growth of remittances and random cyclical fluctuations around this trend. In a purely … households facing an increasing trend for remittances. A flexible floating regime is preferred when unanticipated shocks driving …
Persistent link: https://www.econbiz.de/10008909031
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Monetary and Exchange Rate Policy Under Remittance Fluctuations
Mandelman, Federico - 2014
to financial markets and test whether remittances are countercyclical and serve as an insurance mechanism against … secular increase in the trend growth of remittances and random cyclical fluctuations around this trend. In a purely … households facing an increasing trend for remittances. A flexible floating regime is preferred when unanticipated shocks driving …
Persistent link: https://www.econbiz.de/10013068346
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Follow the Money : Does the Financial Sector Intermediate Natural Resource Windfalls?
Beck, Thorsten - 2017
The need to absorb windfalls gains and manage them appropriately has been discussed extensively by academics and policy makers alike. We explore the role of the financial sector in intermediating these windfalls. Controlling for the level of financial development, inflation, GDP growth and...
Persistent link: https://www.econbiz.de/10012960101
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Follow the Money : Does the Financial Sector Intermediate Natural Resource Windfalls?
Beck, Thorsten - 2017
The need to absorb windfalls gains and manage them appropriately has been discussed extensively by academics and policy makers alike. We explore the role of the financial sector in intermediating these windfalls. Controlling for the level of financial development, inflation, GDP growth and...
Persistent link: https://www.econbiz.de/10012961953
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Follow the Money : Does the Financial Sector Intermediate Natural Resource Windfalls?
Beck, Thorsten - 2017
The need to absorb windfalls gains and manage them appropriately has been discussed extensively by academics and policy makers alike. We explore the role of the financial sector in intermediating these windfalls. Controlling for the level of financial development, inflation, GDP growth and...
Persistent link: https://www.econbiz.de/10012962698
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Follow the money : does the financial sector intermediate natural resource windfalls?
Beck, Thorsten; Poelhekke, Steven - 2017 - This version: 18 February 2017
The need to absorb windfalls gains and manage them appropriately has been discussed extensively by academics and policy makers alike. We explore the role of the financial sector in intermediating these windfalls. Controlling for the level of financial development, inflation, GDP growth and...
Persistent link: https://www.econbiz.de/10011615740