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Author : Bertrand C. B. Candelon
Publisher :
ISBN 13 :
Total Pages : 66 pages
Book Rating : 4.:/5 (753 download)
Download or read book Is Economic Openness Stabilizing? written by Bertrand C. B. Candelon and published by . This book was released on 1997 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Kai Zeng
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book A Dynamic Theory of Economic Openness and Political Stability in Autocracies written by Kai Zeng and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The timing and magnitude of economic openness exhibit considerable variation across authoritarian regimes and lead to vastly different political outcomes. Some autocracies liberalized their economy in early post-war period while others started to open their doors just in the last decade. Some were eventually transformed into democracy following economic liberalization while others remain autocratic until now. To explain the variation, this paper develops a set of infinite time horizon stochastic models to study the dynamic interaction between economic liberalization, transaction cost, political instability and social unrest. It shows formally that political instability does not necessarily impede economic liberalization and growth. The timing and magnitude of liberalization are determined by the stage of economic development and the timing of political instability. High frequency of intermediately high political instability may force the autocratic elite to liberalize the economy in order to maintain his rule. Paradoxically, the elite in an autocracy with low frequency of high political instability may fail to liberalize the economy and eventually be overthrown by the citizens. Meanwhile, although economic liberalization may be initialized by economic development, it is accelerated by the political instability under certain conditions. The logic of the causal mechanism developed in the formal model is tested on a number of case histories, including the Soviet Union and Eastern Europe, China, Singapore and Taiwan.
Author : Mr.Hassan Al-Atrash
Publisher : International Monetary Fund
ISBN 13 : 1451921268
Total Pages : 28 pages
Book Rating : 4.4/5 (519 download)
Download or read book Opening Up and Geographic Diversification of Trade in Transition Economies written by Mr.Hassan Al-Atrash and published by International Monetary Fund. This book was released on 1998-02-01 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper looks at the progress in transition and the geographic diversification of trade, focusing on two issues--the degree of trade openness and trade integration--for a sample of countries in transition. It concludes that about half of the group of countries sampled are becoming as open as similar market economies, but that many others remain relatively closed. Geographic diversification (to the European Union) is found to be greater the closer is geographic proximity and the more advanced the country is with reforms. The analysis is then extended, in an illustrative way, to show how much larger would be the share of exports to the EU if structural reforms were more ambitious.
Author : Obed Ligate
Publisher :
ISBN 13 :
Total Pages : 14 pages
Book Rating : 4.:/5 (13 download)
Download or read book The Impact of Aggregate Vulnerability on the Relationship Between Trade Openness and Growth written by Obed Ligate and published by . This book was released on 2014 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates whether trade openness has a stabilizing or destabilizing effect on economic growth for 88 middle income countries during the global economic crisis of 2007 to 2008. Vulnerability, the exposure to financial risk caused by a financial crisis and resilience referring to how countries coped with the risk were important contexts that were discussed in the trade openness - growth debate. Moreover, the following research questions were answered: Does trade openness always increase economic growth for trading countries? Does trade openness have destabilizing effects to growth? What were the factors that contribute to growth? What mitigating strategies can be applied to countries that may fall back into poverty in the future due to an economic crisis? Graphical representation and regression analyses were used to assess the relationship between variables using a quantitative longitudinal design. Trade openness had neither a stabilizing nor a destabilizing effect to growth consistent with findings of other studies including (Prasad, Rogoff, Wei & Kose, 2003); (Leelavathi, 2012). Forward- looking factors that show a positive correlation to growth were Good governance, Infrastructural development, low population growth rate and skilled labor. Middle -income countries were urged to develop these forward looking factors in order to be resilient to financial crises. Moreover, countries should shift from being reactive to risk but rather adopt a proactive stance in responding to risk at the household, country and international levels.
Author :
Publisher :
ISBN 13 :
Total Pages : 300 pages
Book Rating : 4.:/5 (319 download)
Download or read book The World Bank Research Observer written by and published by . This book was released on 2003 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Ari Aisen
Publisher : International Monetary Fund
ISBN 13 : 1455211907
Total Pages : 30 pages
Book Rating : 4.4/5 (552 download)
Download or read book How Does Political Instability Affect Economic Growth? written by Mr.Ari Aisen and published by International Monetary Fund. This book was released on 2011-01-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this paper is to empirically determine the effects of political instability on economic growth. Using the system-GMM estimator for linear dynamic panel data models on a sample covering up to 169 countries, and 5-year periods from 1960 to 2004, we find that higher degrees of political instability are associated with lower growth rates of GDP per capita. Regarding the channels of transmission, we find that political instability adversely affects growth by lowering the rates of productivity growth and, to a smaller degree, physical and human capital accumulation. Finally, economic freedom and ethnic homogeneity are beneficial to growth, while democracy may have a small negative effect.
Author : Mr.Bas B. Bakker
Publisher : International Monetary Fund
ISBN 13 : 1475572689
Total Pages : 46 pages
Book Rating : 4.4/5 (755 download)
Download or read book Policies for Macrofinancial Stability written by Mr.Bas B. Bakker and published by International Monetary Fund. This book was released on 2012-06-07 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This note explores the costs and benefits of different policy options to reduce the risks associated with credit booms, drawing upon several country experiences and the findings from econometric analysis.
Author : Robert E. Baldwin
Publisher : University of Chicago Press
ISBN 13 : 0226036553
Total Pages : 560 pages
Book Rating : 4.2/5 (26 download)
Download or read book Challenges to Globalization written by Robert E. Baldwin and published by University of Chicago Press. This book was released on 2007-11-01 with total page 560 pages. Available in PDF, EPUB and Kindle. Book excerpt: People passionately disagree about the nature of the globalization process. The failure of both the 1999 and 2003 World Trade Organization's (WTO) ministerial conferences in Seattle and Cancun, respectively, have highlighted the tensions among official, international organizations like the WTO, the International Monetary Fund (IMF), the World Bank, nongovernmental and private sector organizations, and some developing country governments. These tensions are commonly attributed to longstanding disagreements over such issues as labor rights, environmental standards, and tariff-cutting rules. In addition, developing countries are increasingly resentful of the burdens of adjustment placed on them that they argue are not matched by commensurate commitments from developed countries. Challenges to Globalization evaluates the arguments of pro-globalists and anti-globalists regarding issues such as globalization's relationship to democracy, its impact on the environment and on labor markets including the brain drain, sweat shop labor, wage levels, and changes in production processes, and the associated expansion of trade and its effects on prices. Baldwin, Winters, and the contributors to this volume look at multinational firms, foreign investment, and mergers and acquisitions and present surprising findings that often run counter to the claim that multinational firms primarily seek countries with low wage labor. The book closes with papers on financial opening and on the relationship between international economic policies and national economic growth rates.
Author : Walter P. Egle
Publisher : Princeton University Press
ISBN 13 : 1400875099
Total Pages : 277 pages
Book Rating : 4.4/5 (8 download)
Download or read book Economic Stabilization written by Walter P. Egle and published by Princeton University Press. This book was released on 2015-12-08 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: A theoretical discussion of the problem of achieving economic stabilization. Mr. Egle offers a commonsense compromise between those who would use only automatic devices to counteract business swings and those who would give the government great discretionary powers. Originally published in 1952. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Author : DeLisle Worrell
Publisher : Taylor & Francis
ISBN 13 : 1000824535
Total Pages : 441 pages
Book Rating : 4.0/5 (8 download)
Download or read book Development and Stabilization in Small Open Economies written by DeLisle Worrell and published by Taylor & Francis. This book was released on 2023-01-06 with total page 441 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyses and explains the nature of the economies of small countries and territories. It includes an assessment of material prosperity in 41 small open economies worldwide, with case studies focusing on the Caribbean and Central America, with a review of the development of their economies in recent decades. The volume recommends a suite of economic policy tools for the management of these economies, demonstrating how these may best be employed in economies that live and breathe through international commerce. Among observations of interest is the fact that the devaluation of the local currency of a small nation makes the country worse off; even a currency that maintains its value is little more than a trophy, of little value if it is not readily convertible into US dollars. Also, that while government policies affect international competitiveness and a small country's growth prospects, more important is how governments use additional resources to improve the quality of health and educational services. Moreover, economic windfalls such as the discovery of mineral resources seldom bring prosperity commensurate with their economic value, and never in the short run. The volume will offer invaluable information and analysis to researchers and policy makers investigating small open economies.
Author : Arnold McIntyre
Publisher : International Monetary Fund
ISBN 13 : 1484351010
Total Pages : 23 pages
Book Rating : 4.4/5 (843 download)
Download or read book Economic Benefits of Export Diversification in Small States written by Arnold McIntyre and published by International Monetary Fund. This book was released on 2018-04-11 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper considers concepts of economic diversification with respect to exports (including service sectors) for small states. We assessed the economic performance of different groups of 34 small states over the period of 1990-2015 and found those more diversified experienced lower output volatility and higher average growth than most other small states. Our findings are consistent with conventional economic theories but we found that export diversification has a more significant impact on reducing output volatility than improving long run growth in small states. Diversification requires fundamental changes and should be contemplated in the context of a cohesive development strategy.
Author : Branko Milanovic
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Democracy and Income Inequality written by Branko Milanovic and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ideology, as proxied by a country's dominant religion, seems to be related to inequality. In Judeo-Christian societies increased democratization appears to lead to lower inequality; in Muslim and Confucian societies it has an insignificant effect. One reason for this difference may be that Muslim and Confucian societies rely on informal transfers to reach the desired level of inequality, while Judeo-Christian societies, where family ties are weaker, use political action. Standard political economy theories suggest that democratization has a moderating effect on income inequality. But the empirical literature has failed to uncover any such robust relationship. Gradstein, Milanovic, and Ying take another look at the issue. The authors argue that prevailing ideology may be an important determinant of inequality and that the democratization effect "works through" ideology. In societies that value equality highly there is less distributional conflict among income groups, so democratization may have only a negligible effect on inequality. But in societies that value equality less, democratization reduces inequality through redistribution as the poor outvote the rich. The authors' cross-country empirical analysis, covering 126 countries in 1960-98, confirms the hypothesis: ideology, as proxied by a country's dominant religion, seems to be related to inequality. In addition, while in Judeo-Christian societies increased democratization appears to lead to lower inequality, in Muslim and Confucian societies it has an insignificant effect. The authors hypothesize that Muslim and Confucian societies rely on informal transfers to reach the desired level of inequality, while Judeo-Christian societies, where family ties are weaker, use political action. This paper - a product of Poverty and Human Resources, Development Research Group - is part of a larger effort in the group to study inequality and income redistribution. The study was funded by the Bank's Research Support Budget under the research projects "Democracy, Redistribution, and Inequality" (RPO 683-01) and "Deriving World Income Distribution in 1988 and 1993" (RPO 683-68).
Author : Mr.Hamid R Davoodi
Publisher : International Monetary Fund
ISBN 13 : 9781589062290
Total Pages : 44 pages
Book Rating : 4.0/5 (622 download)
Download or read book Challenges of Growth and Globalization in the Middle East and North Africa written by Mr.Hamid R Davoodi and published by International Monetary Fund. This book was released on 2003-09-05 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Middle East and North Africa (MENA) is an economically diverse region. Despite undertaking economic reforms in many countries, and having considerable success in avoiding crises and achieving macroeconomic stability, the region’s economic performance in the past 30 years has been below potential. This paper takes stock of the region’s relatively weak performance, explores the reasons for this out come, and proposes an agenda for urgent reforms.
Author : Rudiger Dornbusch
Publisher : MIT Press
ISBN 13 : 9780262041362
Total Pages : 276 pages
Book Rating : 4.0/5 (413 download)
Download or read book Postwar Economic Reconstruction and Lessons for the East Today written by Rudiger Dornbusch and published by MIT Press. This book was released on 1993 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: The case studies in this book examine significant parallels between the situation in Eastern Europe today and the issues facing Europe and Japan after World War II, offering insights on what kinds of policy actions will be most effective in this difficult period of reconstruction.The breakup of the Soviet Union and the consequent extraordinary problems faced by Eastern European nations raise pressing economic questions. The case studies in this book examine significant parallels between the situation in Eastern Europe today and the issues facing Europe and Japan after World War II, offering insights on what kinds of policy actions will be most effective in this difficult period of reconstruction. The essays address such topics as the relative roles of government and the market; economic openness; industrial conversion from war to peacetime production; the roles of institutions, enterprises, the business community, and their work staffs; and external control of policy measures, of resources made available by the outside world, and of the general external environment. In their introductory chapter, the editors provide an overview that addresses the question of whether reconstruction can ever be managed smoothly.ContentsOpenness, Wage Restraint, and Macroeconomic Stability: West Germany's Road to Prosperity 1948-1959, H. Giersch, K. H. Paqué, M. Schmieding - The Lucky Miracle: Germany 1945-1951, H. Wolf - Inflation and Stabilization in Italy 1946-1951, M. De Cecco and F. Giavazzi - Economic Reconstruction in France 1945-1958, G. Saint-Paul - Reconstruction and the U.K. Postwar Welfare State: False Start and New Beginning, P. Minford - A Perspective on Postwar Reconstruction in Finland, J. Paunio - The Reconstruction and Stabilization of the Postwar Japanese Economy, K. Hamada and M. Kasuya - The Marshall Plan: History's Most Successful Structural Adjustment Program, J. B. De Long and B. Eichengreen - Lessons for Eastern Europe Today, 0. Blanchard, R. Portes, W. Nolling
Author : Robert A. Mundell
Publisher : Springer Science & Business Media
ISBN 13 : 1461544572
Total Pages : 460 pages
Book Rating : 4.4/5 (615 download)
Download or read book The Euro as a Stabilizer in the International Economic System written by Robert A. Mundell and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 460 pages. Available in PDF, EPUB and Kindle. Book excerpt: The introduction of the euro was an important event for the world economy and the international political system. For the first time in history, a substantial group of European countries-eleven of the fifteen members of the European Union including three members of the G-7-have voluntarily agreed to replace their national currencies with a single currency. The euro area has already become established as the second largest currency area in the world and will therefore become a major player in the international monetary system. The creation of the euro poses a number of interesting questions. Will the euro be a strong or a weak currency? Will the euro challenge the leading position hitherto held by the United States dollar and would sharing of the burdens and advantages of reserve currency status improve or worsen the stability of the international monetary system? How will the euro affect US relations with Europe? Does the formation of the euro intensify European integration in other fields? Is a bi-polar international monetary system viable? These and other issues motivated the Luxembourg Institute for European and International Studies and the Pierre Werner Foundation to organize an international conference in Luxembourg on December 3-4, 1998, on the eve of the birth of the euro. At the outset we were aware that the issue of the euro went far beyond pure economics. Money, after all, is too important a subject to be left to economists.
Author : Etats-Unis. Department of the Treasury. Office of Economic Stabilization
Publisher :
ISBN 13 :
Total Pages : 740 pages
Book Rating : 4.3/5 (243 download)
Download or read book Historical Working Papers on the Economic Stabilization Program written by Etats-Unis. Department of the Treasury. Office of Economic Stabilization and published by . This book was released on 1974 with total page 740 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Norman Loayza
Publisher : World Bank Publications
ISBN 13 : 0821360914
Total Pages : 169 pages
Book Rating : 4.8/5 (213 download)
Download or read book Economic Growth in Latin America and the Caribbean written by Norman Loayza and published by World Bank Publications. This book was released on 2005-01-01 with total page 169 pages. Available in PDF, EPUB and Kindle. Book excerpt: Several countries in Latin America and the Caribbean are suffering severe economic downturns and the success of market-oriented reforms is being called into question. This report seeks to contribute to the debate by examining the nature of economic growth in the region. The aim is threefold: to describe the basic characteristics of growth; explain differences across countries and to forecast changes over the next decade.
